I am currently a very disatisfied and unhappy customer. I am in the final stages of completing my 2 bedroom, 2 bathroom addition onto my existing 3 bedroom, 1 bathroom house. Nationstar has keep giving one excuse after another. I am not trying to cash out all I want to do is to refiance on what I owe on the loan. All I am trying to do is to safe money. Currently my rate is 8.6% on an ARM.
First, they told me that i did not meet the fannie mae guidelines. I did some research with fannie mae and found out that i meet the guidelines for fannie mae.
Second, nationstar told me that if i go into default during the addition it would be harder to resale the house. What happens if i go into default while the additon is going on now. Doesn't it make sense to refi with a cheaper rate so if I do default the lose would not be as high.
I believe since I am paying an high interest rate nationstar is making money why would they want to lower my rate. I am currently speaking with a vp at nationstar who proves to be unhelpful. I have spoken with my bank and 2 other lenders who said they could do the refi. Also, nationstar is not willing to wave the prepayment penalty so i can take my business elsewhere. I am an middle class single dad with 3 kids trying to make it and nationstar says they are customer oriented. I beg to differ. I am not asking for anything unreasonable. I will not recommend nationstar to anyone.
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