How can I get the bank to own up to their fraud?

UPDATED: Oct 1, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

How can I get the bank to own up to their fraud?

I bought a HUD home a few months ago only to now live a nightmare. I can’t

start on the repairs because the bank already had stop orders from the city.

They didn’t disclose this before the sale. According to the city it needs to be brought up to code and that’s too expensive. The bank provided fake

appraisal say everything was good.

Asked on May 28, 2018 under Real Estate Law, Illinois


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

You sue them--that's how. If they misrepresented (lied about, even by omission) material or important facts to get you to enter into the transaction, like failing to disclose (or as you suggest, actively lying about the fact ) that they already knew the building was not up to code and work could not be done on it. Fraud can provide a basis to potentially rescind or void the transaction (i.e. give property back to bank, get money back) or to seek monetary compensation (such as the cost to bring the property up to code. For the amount of money likely at stake, you should retain an attorney to help you sue--especially since you can be sure that the bank will have lawyers on its side. Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption