Legal Question in Legal Malpractice in California

I was doing my refinance with a mortgage broker who was offering me 5% interest rate. During the process of refinancing the rates of refinancing fell to 4.5% (significant different). My current mortgage broker said that he cannot give that rate and was quite upfront and told me that if you can find another one who can offer that rate, feel free to go.

I searched on Zillow and found one mortgage broker who promised me 4.5%. I called him and explain my situation and also told him that "are you sure that you will give me 4.5%". He said yes. He also gave me lock rate agreement valid till November 2010.

However once I started with the new guy, the refinance process was taking longer and longer, I emailed him asked him that lock expiration date is coming near, he said not to worry, "we will extend your lock". I have email records to prove this.

However finally when the paper work completed - it was beyond the lock expiration date. Now the broker is saying he cannot extend as the lending company has stopped extending the lock rates.

This is probably due to refinance rates going up.

My question is what are the options available with me?. I have lost my appraisal money (two times), plus i am also missing out my monthly mortgage reduction. In these economy, even a small amount can go a long way to help but now I am cheated by unfair practices of mortgage brokers.

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