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Legal options against dishonest mortgage broker

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Legal options against dishonest mortgage broker

If I have reason to believe a broker overstated income on an application and it went through, and now I'm defaulting, what, if any, are my options?  I know for sure this happened, and looks horrible for me.
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Community Leader
Super Contributor

Re: Legal options against dishonest mortgage broker

Well since you signed for it, agreeing to the income on the final loan docs... I'd be very careful how you approach the situation... but there are a few things you could do.  Contact your attorney state general, contact the licensing division that licensed the loan officer (or his/her company), and lastly... contact the loan officer's employer so that person can get fired and will have a lesser chance of being able to do it again.  Another resource you might want to check into is http://www.loansafe.org/forum/index.php, it's operated by an attorney who is very familiar with foreclosure prevention services, and he might also have some advice for your specific situation.
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