retmar Posted February 20, 2005 Report Share Posted February 20, 2005 As many of you know, I refinanced our home this past December. One of the potential lenders bailed at the last minute as we are under CC&R's. I had posed the question as to it's legality, and we finally determined it was more than likely illegal. At the time, they claimed they would send a Letter of Denial to us.Update!We have yet to receive their Letter of Denial. I contacted the Broker, who is quite upset, as he was under the impression they had done so as they promised him they would. After he contacted them, they sent him a letter saying that he, the Broker, withdrew the offer and dated it this month. It has been over two weeks and the Broker still is fighting these people in getting the correct letter sent to us.Now my question is if I should go ahead and file with the proper California Authorities? Or, should I hold on for a while longer? I really want to go after them, but, want to assure it is done properly. Any advice from the pros will be welcome. Link to comment Share on other sites More sharing options...
firstsource Posted February 22, 2005 Report Share Posted February 22, 2005 We have 3 days to mail a "letter of Denial" to the client. It is the responsibility of the lender to send the letter, and when the broker is told by the lender, the broker has to send a letter out.Charles Link to comment Share on other sites More sharing options...
retmar Posted February 24, 2005 Author Report Share Posted February 24, 2005 Thanks, I'll let the broker know and see what happens. Will keep you in the loop. Link to comment Share on other sites More sharing options...
retmar Posted February 25, 2005 Author Report Share Posted February 25, 2005 firstsource, check your PM's. Link to comment Share on other sites More sharing options...
firstsource Posted March 1, 2005 Report Share Posted March 1, 2005 Hi Retmar & all,I was wrong on the time frame to send a "statement of denial" letter. It is legally 60 days. Sorry for the error.Charles Link to comment Share on other sites More sharing options...
retmar Posted March 7, 2005 Author Report Share Posted March 7, 2005 Never a problem, firstsource. Link to comment Share on other sites More sharing options...
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