Novastar Financial

by Tester From Plumerville, AR on August 11, 2008

I have experienced all of the above with this comany. They too sold my mortgage to saxson and now saxon won't tell me anything. And the attorney for NOVASTAR is STILL filing foreclosure paperwork (Aug.7. 2008) Even after I had arrangements w/Saxon for restructure. Yeha are some coniving buzzards.

by Tomakie Washington From Upper Marlboro, MD on July 31, 2008

NEVER DEAL WITH THIS COMPANY, PLEEEEASE. "BAD" IS AN UNDERSTATEMENT! The "workout" department made arrangements for use to catchup with late pymts... the same week they sold our loan to Saxon. Saxon doesn't have a clue of how they bought our loan which was reported as 6 months late. We are mising over $11,000 of our money, and NO ONE can help us...

by Charles Guthrie From Lakeland, FL on June 12, 2008

Novastar sold my mortgage to Saxson mortgage after just a short time with us. However they still filed a forclosure suit against us. As someone else said they are very nice at first, but if something goes wrong the company develops selective hearing, and becomes cold hearted.

by shannon skinner From Holland, MI on May 07, 2008

by denise nixon From Hainesport, NJ on March 15, 2008

i have asked for help and they told me my loan was to early and i didnt have enough time in wiht them...i asked for them to take it rite out of my account it is so much easier for me and they didnt so i got behind cause i forget to pay my bills most of my stuff comes out of my account they were no help

by david brisebois From Enfield, CT on January 27, 2008

by david brisebois From Enfield, CT on January 27, 2008

by Jojo From Noble, OK on January 24, 2008

My husband and I also did a re-finance with Novastar. Unfortunately, on the ARM thing. Anyway, things were moving along great, then BAM I had a car wreck and 1 week to the day, my husband cut off a finger. We were BOTH off work for months. I called Novastar and at first, they were so understanding....that was 1 month. We had to beg, steal, borrow, you name it to make the payments. When we got our settlements it all went towards making the house payments. That still wasn't good enough. We did everything we could to try and work things out to keep our home!! NOTHING!! They treated us like scum!! I begged and pleaded for them to do something to help us keep our home. They told me to get a 2nd job and for my husband to do the same!! So we eventually filed Chapter 13, thinking okay this will help out and we will get to keep our home. Unfortunately, the price of gas went up, so did propane, etc. We had to convert to 7. I called Novastar to let them know and we would like to refinance, etc., to keep our home instead of it going into the Chapter 7. They said we can "entertain" the idea, but we could get clear up to the day of closing and say, No, we don't want to do this. Of course that would put us outside of the discharge time. After 2 more phone calls and them not willing to help, we included the house on the BK!! WE HAD NO CHOICE!!! AFTER the BK was discharged, we started getting phones calls and paper work in the mail saying CALL US WE HAVE A PLAN FOR YOU TO KEEP YOUR HOME!!! It was too late by this time, we had moved out and it was included in the discharge. I did finally call their "work outs" department. THEY WERE RUDE AND HATEFUL!! I said hey you guys are the ones that keep sending us stuff and keep calling us, not the other way around. They said well we can see you don't take your debts seriously! I said I called and cried on the phone with one of your "work outs" people months ago and you wouldn't do anything to help. YOUR COMPANY left us no choice on what to do!! We take our debts very seriously!! I told them don't call us anymore, don't mail us anything, I will get you for harassment and verbal abuse!! I called because I actually had a little bit of hope we might be able to work something out to get our home back, even though we don't live there. Obviously this was a mistake. You have no desire to truly work anything out, just degrade people!! I'm glad they are on the verge of BK themselves!! Maybe the Good Lord will show them that you can't do to people what they have been doing without suffering some type of repercussion. I'm not a vengeful person, but it just shows you that it really is true you force people into a bad situation (our situation BK) and find it funny or treat them like they are scum, it will bite you. So now they are having to face the mortification of filing BK themselves.

by Jamie Mills From Blacklick, OH on October 26, 2007

Horrible company to deal with. I have 3 other mortgages with other companies and the other companies are nothing like novastar. Novastar has the worst customer service, they are rude and degrading. No one should have to deal with the disgusting manner they treat and talk to people.

by Jean B From Fort Lauderdale, FL on October 10, 2007

Novastar is the worst lender I've dealt with in my life. They should be investigated the way things are done there. I can assure you the Feds would find reasonable causes to fine or close them up.

by Anna From Stockton, CA on October 06, 2007

Novastar Financial has THE WORST CUSTOMER SERVICE. Like everyone else has stated, they give you the complete run around. My original lender sold my loan to them. I was 8 days late on my loan and they already started to FORECLOSE! My loan is so screwed up, regardless of the daily junk mail I receive from them regarding refinancing... THEY WON'T EVEN REFINANCE MY LOAN! Now after reading this I don't think I would want them to. I have submitted taxes to them that went unpaid and became delinquent which I also had to pay late fees. NovaStar? Star backwards is RATS and that's exactly what they are!!!

by Michele From Gig Harbor, WA on October 02, 2007

Novastar has been the target of a class action suit in Washington. They are deceitful, unhelpful and rude.We have received up to 10 calls in a single week, sometimes four times a day!If you don't have to deal with them...don't!

by pam From Florence, KY on October 01, 2007

Nova star is the worst company I have ever had to deal with. I get the runaround every time I call. I have been trying to resolve an issue with them for 3 months now, and they still have not resolved my issue. I have talked to at least 20 different people from csr's, to team leaders to supervisors and still nothing has been done. Never ever do business with Nova star mortgage co. you will seriously regret it...

by Apryl Thomas From Bessemer, AL on September 28, 2007

We refinanced our home in February of 2007 and ended up with Novastar. Everything was fine at first, but now we have hit some financial hardships and they have sent us the letters saying for us to just call them and they will work out something with us. We call and feel like scum of the earth when we talk to them. They make us feel like we should be ashamed of ourselves for having any type of financial problems. They said they may could do a deferment on one month, but asked us to send in an unreasonable amount of paperwork and even then said the deferment may not be granted. This is ridiculous. I am not for just suing people, but surely there is a class action lawsuit here somewhere. This can't go on. This company has to answer for the way they treat their customers!

by Anonymous From Peterstown, WV on September 07, 2007

NovaStar is the most unprofessional lender ever !!! My husband and I got our loan through NovaStar in 2005. We have since hit a hardship period in our lives and have had to go to credit counseling to other bills. We have explained our situation with them several times, and all they say is "you signed for it, you pay for it!" Now we are looking at foreclosure. We have paid $12,000 toward our loan just in a year, but only $120 has actually went toward the principal.BOY, I wish I had ran fast and never looked back before I signed with these people. !!!!!!!!!!!!!!

by Anonymous From Austin, TX on August 23, 2007

Novastar Financial seems to have a certain contempt for their customers. I got my mortgage with them in 2005 and have regretted it ever since. Run as far from them as you can!

by Anonymous From Kenton, OH on August 06, 2007

Novastar is filled with criminals. I have been trying to work out a solution for nealry one year and get a different person everytime I call in, and a different answer. They are rude, not helpful, and could care less about working towards a solution. I will lose my home as a result of this company and all the lies they have told me. RUN away from them if you can.

by A. M. Kagan From Jacksonville, FL on July 31, 2007

Novastar is the most frustrating organization to deal with. On one hand they send letters offering help with behind payments and when you call they only insult you. I had a supervisor tell me to make moving arrangements and I was only 10 days late at the time. They ask you to beg, borrow or rob peter to pay paul. Also they have suckered me into a prepayment penalty that made the broker a nice profit while misleading me. NEVER deal with this fim.

by Roy Davis From Trussville, AL on July 30, 2007

Approximately 2 months after obtaining a loan with this company I receive a unsigned letter stating that my property insurance had not been paid so they go ahead and increase my monthly payment by $70.00 and I then contact them countless times to obtain a copy of the check proving they had pay the insurance, after over a month they still have not sent me a copy of the check so that I can get a refund from Nationwide since my property insurance had already been paid by the title company, this is a terrible company to deal with, I wish I had researched them first before doing business with.

by William Crawford From Sanford, NC on July 27, 2007

Complete and utter refusal to work out a payment plan when it was feasible and affordable. Now it will be almost impossible to catch up without help. Having an 8.75% two year arm doesn't help either. One customer service agent told me to get off my A-- and pay my bills and hung up on me.

by V.Green From Toledo, OH on July 25, 2007

Novastar has really soured my taste in mortgage lending institutions. They are never willing to work with you in helping a customer keep there home and repayment in loans. The company always accelerate late payments making it two late payments instead of one. I am very disgusted with the way the company treats its customers. I tell everyone I know from first time home buyers to those looking to refinance if you see this company RUN!!!!!!!!!!

by Anonymous From Breckenridge, MI on June 22, 2007

Novastar Financial is not very reliable at all. They do nothing but give you the runaround when you call in. They send you letters saying they will work with you if you are behind on payments but when you call them about it they just want the full amount without being willing to work with you. There is no internal communications between employees or supervisors. When you have a months payment and go to pay it on the first of the next month they will not take the payment because they consider it to be two months behind now. They accelerate a loan into pre-foreclosure before the appropriate time line. DO NOT GET A MORTGAGE WITH NOVASTAR. It does no good to talk to a Senior Financial Loan Counselor at Novastar because they never return the call.

by Lisa From Mount Washington, KY on May 18, 2007

Novastar Financial is the worst company I have ever dealt with over anything. They will not accept payments when you try to pay. Then they threaten you with foreclosure....after THEY refuse payment. It is a never ending loop. I can't get them to take my payment now and am unsure what to do.Can anyone suggest anything??? I will never suggest anyone use this company for ANY reason. They are unprofessional and unreasonable. If you hear their name mentioned...RUN....do NOT SIGN anything!!!

by Anonymous From Rochester, MN on May 17, 2007

by scott murray From Standish, ME on March 19, 2007

unfortunately, a company this big has a serious problem with committing one person in any dealings, and no one communicates with the others what is going on, who has said what, and what progress you may have made...it is for these reasons that our loan was accelerated, and we are now facing foreclosure