Amerisave mortgage company I was given false information, a false promise in writing. Our very livelihood is put in danger. Atlanta Georgia

EVERYTHING WAS GOING SMOOTHLY when I applied for a home loan through AmeriSave. The loan officer Joseph Zhou said that we qualify for X amount of loan and that FHA only looks at one year of income. So, we send our two years of tax returns and every document they asked us (e.g., three months of bank statement, profit and loss, transaction history, etc.). He stated that the "underwriters" have examined our case and approved your loan. So, he sent us the preapproval and told us to shop for a house. 

After multiple attempts, we got lucky, found a house, and made a bid with a large amount of appraisal waiver and X amount of non-refundable earnest money. The seller accepted our offer (although he had other offers with conventional loans). We went under contract and started signing several documents. We paid the earnest money right away scheduled an inspection (out of pocket) and FHA appraisal.

We informed our landlord and paid a fee to cancel the lease agreement, and the landlord started to look for other tenants. We told everyone the good news and started packing. Not to forget to mention that the FHA appraisal report required the deck to be repaired by the seller, and the seller magnanimously agreed to fix it immediately since he was also planning to move in less than two weeks. 

Then came THE PHONE CALL from our loan officer two weeks before the closing date. It was like a collision coming from nowhere. He mentioned that the "underwriters" are saying that 2020 income is low and needs a co-signer. I was not sure how to respond. He specifically mentioned through a text message that we are only looking at 2021 income, which is why you are qualified for X amount of loan. Now, he is saying that FHA guidelines are to look for two years of income. I have included the text message to show that we were given false information and are not being unfair. Why wait until two weeks prior to closing to tell us that we need a co-signer? How did the FHA guidelines change within two weeks from 1-year income to two-year income? 

My wife and I are devastated. I am not sure who to blame but have decided to blame myself for trusting the loan officer (Joseph Zhou) and the underwriters' work and judgment. We feel that AmeriSave has robbed us of our time, energy, and joy. We believe that we have been misled and given false hope and information. We are not the only ones suffering here. The seller and his family, both real estate agents, my family are all under emotional turbulence. Now, we have to beg people to co-sign for us or plead with the landlord to reconsider our lease, or we are homeless. What would you do in this scenario? What did we do wrong?