can i sue my mortgage company for giving me a commercial loan instead of a real estate loan?

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  1. Reply
    February 5, 2011 at 2:40 pm

    What are your damages?

  2. Reply
    February 5, 2011 at 3:24 pm

    You have to have damages and you would have to prove that you somehow received this money against your will.

  3. Reply
    Ed Atun
    February 5, 2011 at 3:31 pm

    Commercial loans are pretty bad compared to home loans. I think they owe it to you to fix it..

  4. Reply
    Natsif Alphamith
    February 5, 2011 at 4:08 pm

    Almost always. Lenders know that people fear losing their own home more than a rental, investment, or commercial property, and will be more likely to make their house payments on time than other loans when they are in financial distress,

  5. Reply
    February 5, 2011 at 4:46 pm

    Both situations are separate and unrelated so it is very difficult to tell. The underwriter in each instance would determine how risky the loan is, with riskier loans getting hit with a higher interest rate.

  6. Reply
    February 5, 2011 at 4:53 pm

    The interest rate is almost always higher on commercial property than it is on residential property. It is higher on a 2nd mortgage on commercial property.

    The investors feel that you will abondon your commercial property before you do the same to the place you are staying therefore they feel the risk is higher and charge accordingly.

    I hope this has been of some use to you, good luck.

    “FIGHT ON”

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