NovaStar Mortgage Inc.

They have a 2008 eviction that was under my parents tied up with my social security number somehow and now I am showing an eviction on my record for a place that was never in my name.

I bought a house in 2000 and Novastar was the lender. I got some financial issues and sold my house. I just looked at my credit and found out that they reported it as foreclosure when it was not the truth. I have been trying to speak with them and everyone ignores me. I have the paper work from when I sold the house and it looks like they reported it when I sold the house in 2008. I can't believe that they reported it as foreclosure. Now, I want to buy another one but I can't due to their error. I cannot get another loan for a house. I had been denied twice.

I am looking for a number or address for NovaStar Mortgage company.

Hello, In 2002, I went from NY to Atlanta. I liked the city and decided to buy a condo. The broker, La Shawn T, hooked me up with Steffon S, a loan officer. She said she'd been working with him for about a year. He got me 2 loans--one for 9.75%, the other 13%. At the time my credit score was 754. A few days before closing, the realtor told me that S had told the mortgage company (NovaStar) that I made $120,000 a year and that somebody had written a letter to the mortgage company saying I had a publishing company. I was shocked but thought I had to go through with the closing. Then, I found out I had overpaid for the condo. It foreclosed, in spite of all my efforts, on November 1, 2005.

I had my mortgage loan with Novastar since Jan 2001. Several times they tried to say they did not recieve the pmt and each time I had to provide proof to keep from foreclosure. When my medical bills got the best of me I had to file chapter 13 and then Novastar refused a pmt, when asked why they stated "We don't like our properties to be in bankruptsy so we are not taking the pmt so we can sell the house".

I immediately notified my attorney and he pulled the house into the plan to keep them from taking it. The pmts had always been made on time until all this. Even while the house pmts were made through the courts Novastar still insists they have not recieved pmt and tried several times requesting a seperation from the bankruptsy so they could foreclose. The courts refused since they in fact have the proof the pmts were made to Novastar.

After the loan was moved to Saxon they refuse to deal with the problem stating "thats between you and Novastar". Saxon then filed foreclosure against my property from the information they recieved from Novastar and attorney fees that I feel is unjust since I had not missed a pmt. Novastar just collected the money and didn't apply it to my acct. So I am still out of $5200 and can not get a response from Novastar to refund the money or send to Saxon to be credited to my loan.

Having to go out on disability and facing the foreclosre put me through such a mental and physical strain. There wasn't a day that I didn't cry not knowing if I was going to lose my house and the added burden of not having anywhere to go. I did manage to get it restructure to a fixed rate but still have not recieved my $5200. I would never refer someone to finance with Novastar or Saxon.

we purchased our home in december of 2003 with an ARM with novastar holding the mortgage. when it came time for the ARM to adjust we called novastar to get the house fe-financed. they loan officer that i talked to said that she could get us into a 30yr fixed. when she told me what the payments would be i told her that we could not afford that. she explained that she was also giving us cash out of our house that we could use with our payment until we re-fi again in 6mos.

i lost my job the next month. novastar did indeed help me find another job, but by then we were so far behind. i called their lost and misacation dept and spoke to rebecca and explained. she said that we would need to come up with 35000. in order for them to help in anyway. i asked her about a loan mod. and was told that they only do that for people who have had a loan with the company for over 1 year. it did not matter to her that i had been a customer for over 3 years already, she stated that this loan was too new.

they started forclosure so i went and filed a chapter 13 in order to save my home, that was more money then we could afford so again i went and talked to rebecca. i begged and pleded with her to help - all she wanted was the money! i explained to her that if they were to do a loan mod we would make the payments and would refiance at a later date - no all she wanted was the money

they foreclosed in january of 2008, we were not even notifed that the was was forcloded on until we got a letter to vacate. we went to court and their laywer told us that rebecca must have been working on commision and that is why she would not help us in any way. now we rent a house for more the our mortgage payment was, my credit is in the toliet and they lost money when they sold my house that was worth 200,000 for 130,000. as far as i'm concerned they stole my house so that they could make a quick buck.

In August 2006 I was to purchase a home to help get my friends out of Foreclosure only for them to re purchase the house back after 6 months. Never in my mind did I except to qualify for this house, but it was a quick sale and they apparenlty made it happend. I had two loans....one for $216,000.00 and another Adjustable balloon rider for $54,000.00. Keep in mind I was making less the $32,000 a year. Once my friends were no longer making the payments and they were starting the foreclosure paper work I actually sat down and took the time to go through the paper work, since it was all a rush dealing in the first place (quick sale). I notice there was income on there that WAS NOT MINE.

I spoke with a Mr. Steven M several times trying to explain this to him and even sent a certified letter to company to except the Deed in lie of foreclosure, but then never responded and the house was Foreclosed. I even had several who were willing to work out a quick sale with them but the only thing they were interest in was FORECLOSING AND NOTHING ELSE.

While I was trying to help a family in a financial bind I ended up losing the house and my good credit. Not to mention the physcial stress it put on me. I am a single parent with three kids and for the next 7 to 10 years got screwed.............I guess WELCOME TO AMERICA!!

The credit report had to be fixed and that took another 3 months. Finally, figuring that this all has been taking care of, we decided to refinance again with Novastar since we had them and the rates went down. The refi was January 2007. Again, mistake number 2. They forgot $2300 to payoff on the 1st loan. After further investigation of this mistake, we agreed to make an arrangement of payments to them of $250.00 per month until paid off. During this time Novastar was being bought out by, Saxton Mortgage, which I was totally not surprised about. THIS IS WHERE THE FUN BEGINS.

Saxton shows that we have two mortgages, the $2300.00 one that was being paid and now the new one that was our current mortgage. I found this out October of 07. Have been working on it since then. Contacted Saxton, and they stated that we had two mortgages with them and that we have not made a payment on the $2300.00 since January 2007. Almost a full year! I started to laugh and stated 1st of all, why would I not make a payment on this account, when my current account is in perfect standing. Second, why did you not continue with foreclosure proceedings on this loan? (Me and my big mouth) Court papers, lawyers, and people knocking on my door with foreclosure notices came next.

At this time now, I am still fighting every month, every week, faxing over the information that this loan has been paid since January 2007. I faxed again, spoke to supervisors, managers, customer relations and nothing was helping. Finally, got a hold of a manager that was once working for Novastar and left to work with Saxton. She stated that I was not the only one this was happening to and their system could not read the $0 balance on this account but they are working on it. Finally, in May 2008 I received a letter stating that this account is now paid in full as of MAY 2008. What! I paid it off in January 2008. Called again. Supervisors, customer relations so and so on. They will have a corrected letter faxed to me. Well, the letter faxed to me shows that they cannot say the account is closed because it is still outstanding (this is my recent mortgage, those idiots!) but however, the other account that you have has been paid off as of May 2008. I have had enough with this company.

So my husband and I decided the only way out was to refi with a new company at a lower interest rate. Well, here we go, pull the credit and what do we find--the credit report is now showing 90 days late for January 08 and 90 days late for February of 08. The funny thing is it doesn't show 30 or 60 days late prior to this 90? Now I am stuck! I can't get a new loan until this is fixed. Saxton is telling me that they will not change it with out more proof again.

So I will be faxing the information to them again tomorrow. This is where I stand as of now. It is no secret that my credit has not been the best, however, these past 2 years thank god for my husbands and my jobs, we are working really hard on our credit to get it right and it just seems that you sometimes fight for nothing. I can totally understand why people give up today and walk away. Especially in today's economy. Credit Report ruined, days spending away from family on the phone and calling, faxing information numerous times, and mental anguish with people knocking on my door with foreclosure procedings. Stress level for husband and I.

In 2004 my husband and I decided to refinance our 15 year home loan. We talked to several companys and finally found one that sounded like a great deal for us. They were going to lower our payment and interest rate. Come to find out we were actually working with a broker. We started the process in March of 2004 and at that time the mortgage company we were going with was in California. After more than two months of nothing suddenly the Broker said that we were going with a different company. This starts our adventure with NovaStar Mortgage.

The broker we started out with was fired and then we ended up with a guy named Kevin. He quoted us a good interest rate, no prepayment penalty, and $10,000 cash out. It was going to be a 2 year arm at which time we could refinance and wouldn't have to pay any fees if we refinaced with them. Kevin sent us papers that the first broker never sent us and told us to sign them and date all of them in March. This was in late May. At the closing table we see that our interest rate went up, our payment went up and the check for the cash out? $4000. We had already committed money of the cash out to a contractor, medical bills, and other misc. bills. We were told the cash out was only 9000 and that all the fee's come out of that. We couldn't not sign the papers because we HAD to have the money.

Then in 2006 when our arm was coming due we recieved papers showing that our payment was going to go up by over $100 a month. Soon after we recieved a call from NovaStar wanting to put us in a fixed rate mortgage, lower our intrest rate and lower our monthly payment. We started the process all over again. We were suppose to get an 8.25% interest rate, a mortgage payment of $460 and be locked in for thirty years. Our interest rate was locked in for 30 years at 10% and we pay $480 a month. We were told we didn't have to make our September payment since we would be closing. Didn't close in September.

We were told that it would definatly be closed in October so we needed to go ahead and make Septembers payment and that Octobers payment would be taken out of the cash out. We didn't close in October. Then we were told since we were late on Octobers payment we may not be able to close the loan. Our loan officer was able to "work it out". So we paid October and were able to proceed. We were told that we would definatly be closing in November so we wouldn't have to pay Novembers payment or Decembers payment. Our first payment would be due January 1st. On closing day no one would answer the phone. Finally everything was arranged and we were closing.

But wait, one more problem, the person who was supose to come to our house and close couldn't come so they were looking for someone local to do it. They called our bank and asked to speak to a notory. Erik L. spoke with a notory at our bank and she agreed to notorize papers for us on a Saturday morning. We got there and found out that she had to close the whole thing, which she has no experience in doing, all she thought she was going to have to do was notorize a couple of papers. We paid a $450 dollar fee for closing and that went to the people who were supose to close the deal. The lady at my bank never recieved a dime for her time or closing the whole deal. Erik L. told me to have her fill out an invoice and send it to him and he would make sure she got paid. I sent him the invoice and was never able to get in contact with him again. We also found out after the fact that when our loan comes due, we will still owe $40,000 on our house.

So basically we will never own our house. In the loan docs we also had to pay a bunch of fees that we weren't supose to have to pay if we refinanced with them. In October of 2007 we were informed that our mortgage was being transferred to Saxon Mortgage. We finally went online to get contact information for them about half way through November since we never recieved any papers, statements or anything else from them. I contacted them and asked what we were supose to do and they said we could pay online if we wanted to. Thats what I did. But we were told there was a late fee because we paid past the 16th. Plus a late fee from NovaStar mortgage from October.

We contacted NovaStar and they told us that the late fee was not owed. In February of 2008 we were looking into an FHA loan that would dramatically drop our interest rate and payment and after the company contacted Saxon they called us back and said that with the prepayment penalty it put us over the value of our home. I found our papers and on my loan terms paper it says there is no prepayment penalty. We were young and inexperienced and NovaStar knew that. We basically extended out our loan to 30 years, raised our interest rate and payment for $4000.

My husband and I are making some tough decisions and in all probability will sell our home. We know that in 2036 we can't pay a lump sum of $40000 and that we can't take out another mortgage at that age. Looking back on it now we should've had someone knowledgeable sit down with us and explain the whole thing to us and what we were getting into. We would own our home in 10 years if we would've stayed with our first Mortgage. Now we will never own it and that's a hard pill to swallow. We are basically forced to sell the house and start all over. Is the deception even legal?

we were told that NovaStar was the only lender who would lend to us so we were facing losing the house we were in so we decided to go with it. HUGE mistake!!! They gave us an inflated appraisal the broker we used followed suit with them and poked us for every penny they could, and gave us different numbers at closing andthen never bothered to send any statements to us in order for us to send the payments to them.

We have had a mortgage thru them for 2 years and we have never seen a statement from them. when i called them on this they said oh well, computer shows its going out so theres nothign i can do for u.

then they didnt get a payment due to this issue and immeadiately put us in pre-forclosure and refused to work in any way with us. they stopped taking payments and that put us even further behind then started adding on attorney's fee's which made it impossible and would up foreclosing on our home this past month. they had an illegal auction of which we were never informed of and a foreclosure that we were never made aware of and now are giving me, my husband and 4 children 60 days to vacate. How do u do this to a family and still look at yourself in the mirror???

I lost my job. I work retail and my employer due to the foreclosure felt i was a risk for theft. I might even lose my marriage...How can they be allowd to do this???

I got a 2 year fixed with an arm every 6 months. I bought the house as an investment to keep for a short time. I'm near foreclosure because I can't sell it for the price I need to, to get my money back out of it. I bought it with investment money, no job. What can I do about losing all my money now to a quick sale? I have a part time job for right now in the evenings,so I can contact offices during the day to find out if they should be sued or not? Please help.

I'm losing all my investment money.

I contacted NovaStar mortgage several times regarding my ARM. I spoke with Charla in the prevention workout department hopinh they will assist in modifying our loan. In June of 2007, Charla stated we needed to fax documents along with a completed application stating our income, expenses, etc. They ran our credit which Charla stated they would not have to and they did not assist us anyway. In July of 2007, after not hearing from Charla for over a month, her coworkers answered for her and asked what have we done to help ourselves? I informed them we are going to be increasing our household income by $15,000 and we were going to pay off old debts and we had a budget in place. Still no assistance. Two months later my mortgage was transferred to Saxon mortgage company. We currently have a 13.75% interest rate which started off at 10.15%. We signed the documents to our new home and we were excited in July 2004. The first two years were good but then the ARM began. Although we did not know or understand what was going to take place, we know NovaStar mortgage did.

We have a monthly mortgage payment that someone with a low interest rate may pay for a $300,000 home and we do not have a $300,000 home but we love our home. We are barely making our monthly payments right before the 30 day mark hits to avoid credit bureaus being notified. Don't mortgage companies obtain enough money from individuals, why can't all loans be fixed especially when payments have been maintained and not missed a payment?

In December 07, Novastar called me to 're-evaluate the loan'. Said I could re-fi at 6.5 %, fixed, for 30 yrs. Great. The agent said since my original loan was with Novastar, they could disregard the pre-payment penalty. An appraisal that costs $350 and 3 weeks later, I had a closing date supposedly set for Friday, Jan. 25th. I called numerous times on the morning of the closing, no answer. I called on Mnday. The supervisor, Brian, said they couldn't do the loan unless I could come up with the 12$K to cover the prepayment penalty that was supposedly waived.

I asked for re-imbursement of my appraisal fee, because I had it done in good faith that the loan officer was truthful about waiving the pre-payment fee. The supervisor said he'd call me back and let me know. Of course, I haven't heard back, and now they are out of business. (The appraiser was local and did receive the money.)

In Nov of 2006, we obtain a home loan in long beach ca. from novastar mortgage. Just before the close of the loan there was a house fire. I was talked into letting the loan close by everyone in the case. They insured me that the house would be fixed. So the loan close in Dec 2006.

The broker said we would not have a payment until Feb. but that did not happen. I called novastar and asked what is happening as the house is not fix and it was over $150,000 damage. They said that they could not help since we had paid for the house. We had two house notes. The insurance co. did pay in 4-20-06, but the payment went to the old owner who took off with the payment. I called novastar almost everyday to get some kind of help but all I get is that I have to pay for the loan. After many times calling novestar they agreed to let me do a short sell that took them over 30 days to ok. Never nice, I asked for a hardship but they said no. Even after showing them all the paper work on the house and doing our best to pay two house we never got to move in to. They just did not care. I belive that they know about the fire now. I also know now that the loan should have been lower. Before the fire it was for $409,000 and at close it was the same.

I have damage loss to both homes, $198,000 on short sell, credit lowered a lot, no help to get the old owner who just walk away with $150,000. We have made payments on a house we never could live in. The broker had us put a 1,2 mortgage and we could not get a loan to fix the house. I think I will never believe no one again. I had to lose my dog I had had for over 5ys as I am now living in apartment.

My mother in law refinanced her home with Simplicity then the loan was sold to NovaStar. They convinced her to borrow $112,000 on a house that is only worth $60,000. They were very high pressured and refused to tell her the monthly payments.She and her daughter went ahead and signed the loan papers and now they are not able to make the payment. It is their own fault but NovaStar refuses to work with them to lower the payments and now are threatening foreclosure.

My mother in law and her daughter will in all likely hood lose their house. They have nowhere to go to live!

I was contacted Last month around Sept, 4th by Ms. Latoya Martin who works for the Retention Dept. of NovaStar Mortgage. Over the phone she made an offer to refinance my current mortgage, and pay-off an other outstanding loan, lower my mortgage payment, and reduse my interest rate. She stated verbally that I would NOT have to make a payment for September nor may a payment for October and that my payment would be due November 1st after we closed by the end of September.

Ms. Martin stated that I would have to pay a $350.00 appraisal fee to have the house appraised. I told her that I could not afford to make this payment and she convinced me that since I did not have to make Septembers payment that we could take it out of that payment. I agreed to that on the premise that I would be approved for the loan. They took the money for the appraisal out of my account and did an appraisal.

The house appraised for $100,000 which was less then they made the loan papers out for. It also appraised for this amount in 2002. NovaStar sent me a loan agreement in the mail (my copy) which gave me a monthly payment of $697.00, and a 6.7% interest rate. I received this packet before the appraisal was done. The appraisal was a week late due to the appraiser not being able to get in the house which was left unlocked and a note of instructions on the door.

Once the appraisal was done, Ms. Martin contacted me and stated that we could not do the original loan sent to me in the mail but they could get me into a fixed rate mortgage for 2 tenths less interest and 2 dollars less a month payment. Ms. Martin verbally stated over the phone that I would not have to make Septembers, Octobers, nor Novembers payments and that they would send the appraisal fee back too because the original loan could not be honored. Today, I had a phone conversation with Ms. Martin who basically said that I have a negative amortization on the home. That it would be against the law for them to go ahead with any loan for more then the house was worth and that I was not eligible to be refinanced in any capacity given the standing of my loan.

Ms. Martin stated I would have to make September's payment as soon as possible but would not be charged any late fees nor have any negative reports sent to the credit bureau. I asked about being reimbursed for the appraisal fee since no loan was going to be structured and she informed me that I could have a copy of the appraisal mailed to me in the mail.

My husband and I initiated a refinancing process here in New Mexico in December 2003 with Heartland Finance located in Albuquerque. When the loan officer (Chad) we were working with told us it was too big a deal for him, he sent us to his college buddy, Mr. T, at Novastar Finance in Irvine, California, who represented Nationwide Mortgage Company.

Mr. T was very slick and confident, assuring us that refinancing our home and getting an equity loan would be no problem and take no time at all. He had us sign a good faith estimate on December 12, 2003, promising us that the transaction would be taken care of in a matter of weeks, though it actually ended after 4 very long and unpleasant months. He dishonestly encouraged us to do business with him by making promises he was unable to keep, and then once we were stuck with him in this horrendous process, he started raising the interest rates.

When I finally lost my temper after 4 months of stalling tactics, he had the audacity to say that because I did so, we could take our business elsewhere, though it wasn't worded quite as politely as that. I had angrily confronted him on the phone about all the lies he'd told us and I let him know that we no longer trusted him.

My husband and I applied for a mortgage loan refinance in November 2003. We found Novastar through an internet loan search. We were quoted an interest rate of 6.25% after our credit was reviewed. We were told to order and pay for the appraisal on our property. The cost was $375. We were also advised that there was no need to pay the December mortgage, as this would come out of escrow. We complied with all of Novastar's requests.

The appraisal was performed, paid for by us and sent to Novastar. It was then that we received the very first disclosure documents from them regarding our loan, after we were already committed. I noticed the interest rate was almost one half percent higher than we had originally been quoted. We decided at that time that this loan program was not for us and, honestly, I was not happy with the way Novastar changed our interest rate after we were financially vested in this loan process. We no longer wanted to do business with them.

We immediately contacted Novastar via telephone and fax requesting that they close our loan file and cancel our application. Mr. Felahy proceeded to have a fit on the phone, was very rude and unprofessional, yelling something about how much work he had done on this for us. However, we too had an investment at this point...financial, in the form of a $375 appraisal report. We requested, in writing, that our appraisal report be released to the new local lender, who was offering a much better program.

On December 5, 2003, we received a fax from Mr. Felahy stating that Pursuant to Federal Regulations (in the disclosures we sent you) we will be releasing your appraisal via email on Wednesday, the 3rd of March, exactly 90 days from the receipt of your fax. It is now the 11th of March and I still have not received my appraisal report nor have we been able to refinance yet. Further, I have done some research into State Law and found that, in fact, Novastar had only 15 days from the date of my written request or from receipt of my appraisal in which to release it.

They were, and still are, in direct violation of State Law.

We applied for a refinance on October 7, 2003 with LendingTree and chose to accept the offer of Novastar Mortgage. Today is January 27, 2004 and we have signed final papers twice and the last time the funds were suppose to be released on 01/21/04 and we still have not received them. Our credit is destroyed by this because we have been waiting for almost four months and the only thing that has happened is our terms changed drastically. Now the mortgage broker will not give us any information and the lender New Century just refers us back to the broker.