Reviews of Novastar Mortgage |
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 ****No Longer Servicing Loans |
From their Home Page Thank you for visiting NovaStar. At present, we are no longer originating new loans, but we thank you for your interest and for considering us. If you are a former customer, NovaStar Mortgage is no longer servicing any loans. You should have received a notice from both NovaStar and your new Servicer by now and will need to reference this material for their contact information. Other contact numbers:
If you need another copy of your year end statement, or any year prior to 2007, please contact Saxon Mortgage Services, Inc. at 1.800.594.8422 If there are issues with your payment due to the transfer of your loan to the new servicer please call 816.237.7047. |
| A Scam |
We've been trying to close a mortgage refinance with NovaStar Mortgage since 6/2/07! First they took $370.00 from our checking through a "third-party" who then hired an appraiser. She came to our home appraised our home incorrectly by comparing to houses that have 1/2 the land we do, no pool and 1/2 the bedrooms we do then came in under the city appraisal which we pay taxes for. We filed a complaint through BBB and she says to go to our lender. Well NovaStar nor the woman who appraised our home will give us the company information of who took our $370.00 and we cannot find the company anywhere???
Now NovaStar over a month later has been saying for a month "we need one more piece of paperwork from you" over and over it's always something new. They said they'd pay for a second appraisal and never did we get one. Now they send us paperwork with an appraisal amount of $10,000 higher than the woman who appraised us $40,000 under the appraisal we had done 30 days before hers for a home equity loan through another company!!!!! We never got the 2nd appraisal, we never got our $370.00 back and because of this faulty appraisal putting our home's worth way under they've upped the rate and want us to pay $300.00 more per month for a mortgage payment than originally stated with our home's actual worth. It's a big scam and there's some fishy stuff with NovaStar Mortgage and I urge people to stay clear. Now we're out $370.00 and no deal after 2 months!!!!!! They suck and we want everyone to know their scam |
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