Q: My mortgage broker didn't put the right values for my student loan debts, what do I do?
I hired a mortgage broker to help me purchase my home in Florida.
I disclosed all liabilities via e-mail. This included a screenshot of my student loans , which totaled roughly 90k.
We have been in the house now for a few months and have been notified, by the broker, that our loan is being audited. The bank sent him a notice saying I did not disclose my student loans. He responded, also saying, I did not disclose this debt, nor did he have reason to suspect such a thing.
I did disclose this information. I have an email proof. I sent a screen shot to him. IN the most recent response he admits he received the email but did not open the email attachment. Also, in the email, he states the information was disclosed and he messed up.
Panicked, when I got home, I review the closing documents I signed. Student loans are listed on the closing documents, but the values are not what I sent him. It was roughly 1/3 of what I owe.
A: Maybe, maybe not. It was equally your duty to review your own documents for errors; as you admit you did and found the error but said nothing. The law equally puts the duty to read contract on you as one of the signing parties. This is surely a mess and you will need to retain an attorney.
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