Legal Question in Banking Law in Oklahoma
construction loan negligence
The bank that we have been using to try to get a construction loan has been dragging its feet at every step of the process. The construction process has been over 3 months since we closed on the purchase of the land and we have already had to pay an over $2,100 interest payment on the land. Also, they want us to pay to have the abstract updated again since it has been more than 3 months after updating it. Isn't there some accountability to the bank or a negligence issue?
Asked on 10/25/07, 10:49 am
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: construction loan negligence
Not only negligence, but possibly breach of contract and fiduciary duty.
I have represented banks in the past. Contact me via phone or email for further legal assistance.
Answered on 10/25/07, 5:12 pm
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