Last December, I asked this bank for an extension on my FHA Loan. I was told I would have to miss my December payment to qualify. (What kind of hair brain idea was that?) Well I did miss the payment, but I didn't get my request extension, but was sent to another part of the loan office. It came to a surprise that I defaulted on my loan. There is a big difference in default and extension. I just need two month extension to catch up on some other bills that I still have thanks to BancorpSouth. I needed to repay the creditors from my business so I didn't have to worry with that anymore.
I would like to know if anyone knows if I can sue this bank for miss handling my loan. hey only lost paperwork I signed two to three times. They wouldn't send all the paperwork together, but calling me to say that I didn't sign a certain form. That form was not included in the paperwork sent to start with. I would send one person one item and then would have to send the identical paperwork to a women whose desk is right beside the first woman. No two people shared paperwork and no three or four people had any idea what paperwork I signed and sent back to all of them. All of these women worked on my home loan in Loss Mitigate Office. The thing is I never got my extension, but now I have to endure foreclosure, because they (not me) mishandled my loan.

We are selling our home to a buyer trying to get a loan through FHA. He qualifies without a doubt for the loan. He was paying $125, 000 and we were giving him $5, 000 towards closing costs. Our home was appraised in December by an FHA appraiser for $125, 000. We had our house appraised for $123, 000 last June. We have moved out of the home thinking that the closing was supposed to be happening Feb 8th. We just found out the loan was denied in underwriting because someone in an FHA office does not believe the people that have appraised my house and said the value is $85, 000. Where would they come up with this number? Why would they do this? Why get an appraisal done? They have ruined us and our sale--where can we go from here--we disagree, our lawyer disagrees, everyone we talk to is in SHOCK! Please help us, PLEASE! We are about to lose the house we need to buy and we can not afford two mortgages. And the report from the underwriter even went as far to say that our area is so bad that it hasn't appreciated since the 1960's. If that is true we shoudl be selling our house for $25, 000. Please help us, what can we do to reverse this...