Purchasing a property here in Northern California with a FHA loan, had a little trouble due to some quite messed up advice from Bank of America. Basically caused the mortgage process of the property I was pursuing to go on longer then anyone wanted.
Towards the end of this home buying process, I had signed addendums stating an COE extension and the exact words of:
"Buyer's initial deposit of $2550 will be released if escrow is not closed by said date"
I signed, sent it to the seller for their signature and they signed. After all these addendums and such, had all funds to close IN escrow, waiting for the final paperwork, when I was informed that the HOA didn't have enough reserves (as it is known FHA doesn't like that) and the wouldn't certify the property and said it would take around 30 weeks at 100$ per day for them to do it which I didn't have that money, so I had to cancel the contract.
I went through the buying process one more time, got a new property from someone else, and decided to pursue my $2550 that was noted that I would get back. I got all the contract/addendum/escrow/paperwork back that was signed by me and the seller, and went through them, to discover that, in relation to the addendum mentioned above, now stated:
"Buyer's initial deposit of $2550 will be released (written: 'to the seller') if escrow is not closed by said date"
Yep, they had basically inserted via pen after I signed, the words 'to the seller', hoping I wouldn't find that. To add more insult to injury this happened on the CANCELLATION CONTRACT and one other addendum as well. Hand written in, in some cases them putting a line through wording after I had signed thinking it was 'legal' to do so in a contract, ensuring that they got that $2550.
More of a disbelief that fraud can come from a large corp like that, but after what I've seen the past 3 years, it really isn't all surprising.
That's my bit. Thinking small claims, but would rather see these people in prison for fraud. My broker had all that paperwork as well, but decided not to protect my interests in the end. So much for trust eh?