We had our new home built through Lancia Homes which is connected to Waterfield by the hip, Waterfield re-ran our credit so many times we actually got some negative flack for it, then they sat on their hands about everything, my husband was overseas and I got a SPOA (specific Power of Attorney) they kept the original, gave me a copy then lost the original and sent us a $75 fee for having to create one to send to my husband for his signature, the home was done in October, we moved in under renters agreement on Jan 1st they told me that our first years insurance would be covered by them then a week before our first attempt at signing they said we needed to pay the whole first years insurance up-front then they'd give it back at signing, well they made up some other bill at the second signing, and we didn't get more than $150 back, the first signing I showed up with the SPOA copy and they wouldn't sign and couldn't find the original, an ex-employee ran off with it they claimed.
The dog at my homework defense, then we were told the next years insurance would be paid out of the escrow fund, they didn't pay it, the insurance carriers we had dropped us and then Waterfield forced a $1250 a year Hazard insurance on us that we refuse to pay but we have no choice now, cause no one else in town will take us for that 3-4 months failure to pay, that they failed to pay. Waterfield also promised us a first time home buyers interest rate of 5.15% then said we being military would get a better deal from the VA, then said our credit wasn't looking so good, due to their re-running our credit and my putting off bills to pay the $500's in insurance up-front. They gave us the VA's deal at 6.5% and jacked our payment from the $650 a month we could afford to the $902 a month we can barely afford and now the bills are staggering with the mortgage being so high. My husband is overseas still in germany and going back to Iraq in Nov he has to pay his rent over there (there's no room on base) on the first or he'll have no where to live, and I call Waterfield and they say as long as it's here by the 15th, I tell them he doesn't get paid again until the 15th and it won't be in until the 23rd of each month. They refuse to stop the late fees and have started sending notices that there is a shortage in escrow cause they are taking out the insurance money from there.
The Army only gives us $750 for living here, we were great at $650 a month but this $901 a month is killing us, the amount of foreclosures in this new neighborhood is unbelieveable, and the house is only 2 years old and has lots of major issues, please all out there avoid Lancia builders and Waterfield Mortagage at all costs, you will deeply regret it.
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