What can I do if the mortgage broker never finalized my MCC paperwork with TDHCA?

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What can I do if the mortgage broker never finalized my MCC paperwork with TDHCA?

When buying my home I asked and qualified for the mortgage credit certificate
MCC program. I completed all the necessary conditions and paperwork and paid
the required fee. After contacting TDHCA because my certificate never arrived, I
was informed my certificate was never issued because the mortgage broker failed
to finalize paperwork with TDHCA on their behalf. This is a tax credit for up to
2K/yr for the life of my loan I’m unable to claim without the certificate.
I’ve periodically contacted the broker over the pasts 3 months with no
resolution.

Asked on June 5, 2019 under Real Estate Law, Texas

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

You can sue the mortgage broker for negligence. Negligence is the failure to exercise due care (that degree of care that a reasonable mortgage broker would have exercised under the same or similar circumstances to prevent foreseeable harm). Your damages (monetary compensation you are seeking in your lawsuit) would be the loss of the tax credit.


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