In Mar we applied for a mortgage loan from several different companies. Nova Star offered us the lowest intrest rate for the amout of money. We asked for a VA loan at the time of the application.in April I received a phone call asking me to please go FHA and they would lower the intrest by 1/2%. We still wanted my VA and told them so. We received our pre-approval letter and found the house of our dreams.
We went in to contract with the seller of the house on May 5 with an agreement that the house would go back on the market if we did not close on June 28. We sent a copy of the contract to Nova Star Mortgage Inc. With the application fee of $250.00. We set everything up for the home inspections. We had a carpet layer come in and measure for new carpet that was $4500.00. We put down our carpet deposit and ordered it. We spoke with Nova Star and asked if we could make a June 14 closing and was told yes with no problem. This was the start of a very long nightmare. On June 10 they still had not ordered the VA apprasial. It took the manager 4 days to get the lender ID number to VA. Once VA received this it took 3 days to get the inspection and to get it back to Nova Star.
When the asked since we did not close June 14 clould we close on June 24 once again we were told yes and once again they lied to us. This time they were telling us they did not receive the apprasail from VA yet. I know they did because I faxed it to them and so did VA. We then asked them are we going to make the June 28 closing date because the contract was up on June 28 and once again we were told yes. We set a closing time for 2 pm Friday June 28. At 12:35 pm I received a phone call telling me that the underwriters had not finished the packet. On July 2 we were told that the packet was complete with the final underwriting but they would not send it out until after July 4 weekend.
Once again we set our closing for July 8. On July 8 we found out that they had not even sent the packet to the underwriters but was promised that we would be at closing on July 12 at 2 pm. On July 12 at 1:00 pm we received a phone stateing that the underwriters would not write the VA loan for some reason or another but that they would get us an 80/20 loan with a combined intrest rate of 20%. It would be 8% on the 80% and 12% on the 20%. They then proceded to pull our credit so many time it lowered our score by 70 points to justify why VA would not do the loan.
I then contacted the CEO Lance Anderson and Steve Landes the President. I really felt we would be in the house with in a few day after notifying them. I was wrong. We were told that the branch (that started the loan application) personnel were terminated and that all inquires to my application should be brought to his or Donna West attention.
We spent countless hours on the phone with these two and got nothing but more lies. We applied with a different mortgage company in July and are still waiting to hear from them. We have spent and lost over $4500.00 and still don't have the house yet. We have been paying the utilities on both houses for over 1 month. When I asked for my money back from NOVA STAR we agreed to settle and they sent me a check for 1320.00 on Friday July 19. On Sat we found out that they put the house back on the market and kept our deposit.
I once again notified NOVA STAR and asked them to please reimburse me this money. I was informed that the matter was setteled and agreed on a price and a check was issued case closed. I lost over 2900.00 on this company and still had to start all over to pay even more with the new company. I would not recommend this company to any one EVER. They take your money string you along then leave you hanging out there fixing everything they messed up. We are now in Aug and we are still working on getting this house before school starts.
Tammy
OKC, Oklahoma
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