How can I sue Wells Fargo Mortgages for not closing on my loan?
Wells Fargo pre-approved me for a home mortgage. They told me to go ahead and find the home. I found the home and signed a contract 74 days ago. I paid for the home inspection, appraisal and home insurance.
The mortgage specialist continued to assure me that everything was looking good. When the time for funding came around, I kept on calling to find out why the title company did not receive the funds for the closing. At the last minute, like two days before the first contract expired, I called again and they requested a letter from the Social Security Disability Administration stating that I was going to be disabled for at least three years. I asked the SSDA for an award letter but it just states that I receive SSD payments (not SSI).
I am only 47 years old and also receive a state pension for my disability. On my state pension letter that I gave Wells Fargo, it states that my benefits will be a lifetime benefit, meaning that I will not be able to work any longer. The SSD letter doen’t say anything like that because they will review your case every few years or so.
I explained everything to the Mortgage consultant and gave them all requested documents. They even asked me to provide a gift letter from my Domestic Partner of 22 years. They also asked me to submit my partner’s past two months bank information to justify that he has means to give me the money.
My partner is a retired school administrator who receives a state pension and Social Security benefits. He had a Durango 2005, almost new that we did not use because it was a gas gusher and he sold it and gave me the money for the down payment of the house, so I also proved to them where the money came from by giving them a copy of the check he received for the sale of the Durango.
We spent money, energies and time on this process. We traveled out of state to purchse the house with the Wells Fargo’s mortgage consultant advice and approval. I even received an FHA package congratulating me about the loan approval and amount to take to the closing.
I even called the office of one of the CEO of the mortgage department in Des Moines, Iowa and one of the top executive assistant to the president listened to my case and twice assured me that everything was going to be approved; then, today the wanted to continue extending this process. It cost us around $ 500.00 a week for hotel, food and gas while we do the inspection, appraisal, buy insurance for the property and the closing the assured us was going to take place twice on or before the end of January. Then they extended it to February 15th and now February 23rd , which they told me will not take place because of the letter they wanted at the last minute from the SSDA.
I honestly believe that everything when down hill when I told the mortgage loan consultant that I was gay and lived with my partner for 22 years.
Now, since I already did my part of the agreement between Wells Fargo and me and they kept on prolonging the closing process and never funded the loan, can I sue them?