- Report: #361212
Report - Rebuttal - Arbitrate
Complaint Review: Ryan Homes - NVR Mortgage
Ryan Homes - NVR Mortgagewww.ryanhomes.com Glen Allen, Virginia U.S.A.
Ryan Homes - NVR Mortgage Ryan Homes Incentives= NVR mortgage ripoff Glen Allen Virginia
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In one case, NVR/Ryan homes nailed reputable people that had good credit with a 14% APR, more than twice what was agreed long before closing. They signed under threat of losing their deposit and assumed they could just go to another bank to get a fair deal.
But it got worse...the Ryan Homes house was seriously defective, and thus they could not get refinancing, nor would Ryan Homes fix their house.
It took these people almost two years to get their life back from Ryan Homes and NVR mortgage. This is just one case. Not all get their life back, once you get mixed up with these people.
Sure things work out in some cases, but do not believe that your contract is binding to NVR. The rule of law is designed to serve them, not you the buyer.
Try to find a mortgage broker or actual bank, that doesn't just use trust as a logo. You can still get your incentives without helping the pres of NVR mortgage department make his $5 mil bonus, on top of his meager $300,000 a year salary.
THE BOTTOM LINE anyway you cut it, the goals of forcing NVR financing on buyers is to extract back any benefits you think you're getting through incentives.
People have successfully gone through a different broker or realtor, because of the bad terms NVR tried to stick them with. They still got the buyer incentives without tipping NVR, which is nothing more than a broker anyway.
Glen Allen, Virginia
This report was posted on Ripoff Report on 08/09/2008 09:22 PM and is a permanent record located here: http://www.ripoffreport.com/r/Ryan-Homes-NVR-Mortgage/Glen-Allen-Virginia-23060/Ryan-Homes-NVR-Mortgage-Ryan-Homes-Incentives-NVR-mortgage-ripoff-Glen-Allen-Virginia-361212. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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