Need an attorney recommendation please

Hi Everyone,

DH and I recently applied for a Home Equity line of credit through TD Bank. What a scam!!!! We have been denied for various reasons, all of which I contested and proved them wrong.

At this point, I feel that we are being discriminated against - how? I am not sure. It's hard to put into words without telling the entire story.

Does anyone have an attorney recommendation or advice on who I would speak to at this point? If we were denied with a clear reason for denial, I would completely understand. FWIW, DH and I both make a very comfortable salary, our home has equity, our credit is decent, this is just absurd. I feel like we are being denied based on the small size of the request and they are not treating us fairly. When I ask to see something in writing or their policy, I am simply provided with emails from their employees pretty much stating "too bad."

Any advice? Has anyone been through this recently? I'm so angry over this I could scream!

Re: Need an attorney recommendation please

send a note to Beth. She may have some higher up contact info.

She has helped me in the past with another bank.

Re: Need an attorney recommendation please

I don't think many banks are giving home equity lines anymore. The banks are very cheap with loans. My guess is this is more likely the situation. I would try another bank.

Re: Need an attorney recommendation please

Thank you, Blue-ize, I will definitely email Beth. I didn't even think of it.

SecretTTCer - you are absolutely right. It is hard these days and if we were denied based on any solid reason, I would accept it. The bank ordered an appraisal on our house because I contested their estimate of our home's value. The appraisal that THEY ordered came back at a higher value than their estimate so they decided that they won't accept the appraisal and decided they wanted to decline me anyway. NO, i'm sorry, that can't be right. They're a bank, I find it very hard to believe that they can just outright refuse a loan because they feel like it.

Message edited 9/21/2011 7:49:48 AM.

Re: Need an attorney recommendation please

Wow and TD is supossed to be the best for Home Equity Lines...

Do you have accounts there? Are you working with someone in particular? Or did you just call an 800 number? Most local branches have mortgage reps in the office a few times a week to help people out- have you tried that?

I will say that I'm in the industry and we (loan officers) don't make much money on HELOCs, so some people are reluctant to do it. However, some are of the mindset (like me) that if we assist you with something small like this, we are building a relationship, which can lead to referrals. What I'm getting at is= You need to find the right person to work with.

Re: Need an attorney recommendation please

Re: Need an attorney recommendation please

Posted by AnaMaree77

Posted by Deeluvsvinny

Wow and TD is supossed to be the best for Home Equity Lines...

Do you have accounts there? Are you working with someone in particular? Or did you just call an 800 number? Most local branches have mortgage reps in the office a few times a week to help people out- have you tried that?

I will say that I'm in the industry and we (loan officers) don't make much money on HELOCs, so some people are reluctant to do it. However, some are of the mindset (like me) that if we assist you with something small like this, we are building a relationship, which can lead to referrals. What I'm getting at is= You need to find the right person to work with.

Hi, thank you for responding. We do have accounts there. We went into the branch and filled out the application back in June. Since then, they have been an absolute NIGHTMARE! I'm currently arguing with the rep because he is stating that since my accessory apartment permit is only valid until 2013, they cannot use that portion of my house in the appraisal... huh? Yes, according to him, if the permit expires in 2013, then it will be illegal to live in that portion of the house. He is completely misinformed. I'm going in circles and ripping my hair out trying to explain to him that we have a CO for the apartment and that the PERMIT only grants us the legal right to rent. Without a permit, it is still occupiable by myself or family. It just amazes me that this guy actually works for the bank. They are declining our application for reasons that are not valid. Can they do that? Every day they make up something new that's not even fact or true. I'm at my wits end!

Re: Need an attorney recommendation please

banks can deny a loan for almost any reason. I honestly don't beleive you have a legal recourse agaisnt them.

While it stinks and you may not agree with it I would have a had time finding a legal argument that would stand up in court.

Re: Need an attorney recommendation please

Thank you so much for responding. I'm just in such a frustrated state of mind right now. I get what you're saying that it would be a waste of time and money to pursue this with an attorney. I just can't believe what i'm hearing from them.

Let me ask you this. If two people walked into McD's, same shirt, same pants, same type of $1.00 bill. They both order a small french fry and McD's chooses to serve one but refuses to give fries the other with the excuse that the 2nd dollar bill is greener than the first. Can they do that? They are not telling me that I don't have enough money or that they are out of fries. I'd really like to slap them in the head :)