What recourse do I have against a blundering broker?

[Brian Ashby]

I have applied for a 203k loan.  When doing this I made my broker aware that I had an fha loan for another rental property about 30 miles away.  At no time was it discussed that you cant have two fha loans in that close proximity.  I was told it wouldnt be a problem.  We get to a few days before closing and suddenly it is brought up that I have to refi out of my current property into conventional.  I made them aware that the property would not have enough equity to do so.  An appraisal is never done.  Another closing is missed.  They now start working toward a fanny mae homestyle loan.  Go figure, there is another issue, and we miss the third closing.  My seller is fed up and ready to pull out. As of today they are working back toward the 203k and refi of my current property.  I have a strong feeling it will not appraise for what is needed and with closing in 5 days they are going to blow this deal. which I may not have even started the process on if I was given good information in the first place.  If i fire them, i lose money on the appraisal. If the deal doesnt go through, do I have any recourse?

[Wayne Brooks]

Nope.