Trying to refinance home for last 6 months, now mortgage broker says loan is dead. Ripped off? what can we do?

In the middle of January my new husband and I began the process of refinancing our loan. We live in Maryland and we began working with a lender in our area. We paid for an appraiser to come (their recommended appraiser) for $ 350, as well as paid $ 200 for some fee that Bank of America charged. The mortgate broker came over to our house and we signed all of the necessary papers about our refinance. Over the next 5 months they have constantly asked us for paperwork that we have already submitted over and over again. Our W2 forms, our bank statements etc…they blamed the bank for losing this paperwork and so we have submitted these items multiple times. Also, they would always say “we’re pretty sure you’ll be closing this week” Today we received a call saying that our loan is dead, even though just last week the broker told us that he had received an extension on our closing and we should close within 5 days. He said our loan was dead because our appraisal was over 6 months old, which it is not. He said the title company can at anytime throw out the appraisal if it goes past 6 months. The broker is now saying he cannot get our money back, but if we recommend him to other people for their mortgage, and he makes money, he will give us our money back. He keeps on making up excuses on how my credit score is too low, even though before he said it was fine. He also said I would have to pay a $ 100 collection off of my credit report which I did immediately, and now he’s saying that’s a problem. It seems as though they have tried to make this go for as long as he could and now that there is nothing else to ask for, they are saying the loan is dead. What is going on, can we take legal action, what can we do!??!


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