California | Real Estate Law
Legal Question
Riped off by Loan Broker
We refinaniced our home and one of the terms of the loan was that $10,661 was to be deducted from the equity check we got to go into an escrow to pay the 1st 6months of loan payments, we also got charged twice for brokers fee one was $5340 and $3000 that was included in the $10661 for a total of $13661 to be taken out for loan payments and broker fee. Well none of the $13661 went into an escrow account but instead into his pocket and said we signed the papers. In other words he lied to us about what we were signing and stole our money. What recourse do we have? Doesn't the broker have to inform you of what your signing and make sure you understand it because what he said we were signing is not what we got. Isn't there a law that says that the loan has to make sense and not put you in a situation of possible foreclosure. Thank you for any advice. Were in the Sacramento area if you can suggest or recomend a lawyer.
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