I applied to Nova Star Home Mortgage, Inc. For a loan to refinance my home. After spending a great deal of time on the phone with George Abernathy, answering all of pre-qualification questions, he sent me a package with all of the paperwork needed to complete the refinacing.included with the package was also a business card for the appraiser they specified, for me to contact to set up an appointment with.
I made all the copies of all my documents they requested for the refinancing and sent it back to them. I then contacted the appraiser they wanted and set up an appointment with her. She informed me it would be $400.00 C.O.D. No checks...
When she arrived she spend very little time. She never measured the room sizes or anything, just did a quick walk through, got my property discription, and measured the outside of my home. She told me she could not give me a copy of the appraisal, that I could only get it through Nova Star. When I tried to discuss the various features of the house, she simply stated it would be fine information for a realtor but it meant nothing to her.
Might I add that she came from a city about 3 hours away from here, so she couldn't possibly be familiar with my area. The appraisal she came up with was thousands of dollars less than one done two years ago, right after my home had just been built. My home is only two years old it is in new condition, not trashed the property values around me have sky-rocketed over the last several years yet she came up with an appraisal far less than the origonal one!
Back to Nova Star I had sent my paperwork back to them on a Wednesday by overnight Fed Ex. The appraiser said she'd have the appraisal to them by Monday of the following week. On Wednesday of that week, I called George Abernathy to make sure he had received my documents and also the appraisal his reply "I'm not sure if it came or not, I'll have to check, I'll call you back within two hours, I promise." He never called back.
The next day (Thursday) I called him again and again it was the same story "I'll call you back, I promise."
On Friday I was getting a bit frustrated by his not calling me back so I agian called him this time he said "things have to go through the proper channels I'll find out where things stand and I'll call you back within a couple of hours... I promise" He always added the "I promise" yet he never called me back.
On the following Monday he finally did call me. He said "we have a major problem here, you never told me you had a modular home! We always do our best to pre-screen people before we go this far with them if we'd known it was a modular we wouldn't have gone through all this. We don't finance modulars." End of conversation.
With all of this I was really irate. I e-mailed him and told him how upset I was with the situation I asked for a copy of the appraisal.
Here is a copy of his reply...
I'm sorry you feel this way. First of all when we purchase leads we never and I mean never request Mobil or Modular homes. We actually turn the lead back in for credit.
Secondly, we also lose money by spending time
(employees) and money in processing a loan that's not going anywhere. Once you find another lender who is willing to help you, have them contact us and
in addition to sending you a copy we will also release the original to the lender.
Best regards,
George Abernathy
How's that for trying to satisfy a customer? Had he asked me if I had a modular home to begin with I would never have had to spend the $400.00! How was I supposed to know that was something they needed to know if they didn't ask me?
So, now I'm out $400.00 for an appraisal I don't have a copy of, and one that is totally worthless anyway!
I feel I was totally mistreated, mislead, lied to, and completely ripped off!
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