MSN Homes LLC Predatory Builder, Unfair and Deceptive Trade Practices Port Charlotte Florida

15 years ago, my wife and I lost all and had to start over, after years of hard work and determination, we achieved A+ status on our credit report.  My wife and I had a dream of building a home and to stop paying rent, this is an account of our first attempt to becoming home owners again, sad to say it turned out to be a night mare.

I am filing a complaint with Ripoff Report for unfair and deceptive trade practices. Last July 2015 my wife and I went to MSN Homes LLC model home located at 8066 Wiltshire Drive, Port Charlotte, FL 33981, where MSN Homes LLC advertises a preferred lender for construction loans at their model home, Trustco Bank of Englewood, the sale man Kim Wallace said we must sign a contract to build to even apply with the bank for a construction loan, pay an application fee and open a checking account. We did all. (we were also told by both Kim Wallace and Minja that we need to sign a contract before July 1st 2015 as the state code on the windows was to change and would cost over $11,000 additionally). The bank gave a verbal pre-approval for construction loan but when it was sent to underwriting it was denied, (see bank letter). The builder Minja then escorted me to a second lender Regions Bank of Port Charlotte, FL. where he sat with me and talked to the loan officer Karen who also said they could not finance a construction loan. I tried a third lender referred to me by Denise at Trustco Bank, Homestead Funding Corp., They also could not give us a construction loan, (see attached letters). I had purchased a lot 6 months’ prior for building a home. Since it was apparent that we cannot get a construction loan as the debt to income ratios did not allow us to pay for a place to live and the construction loan at the same time, we gave up on the dream of building our home and sold our lot. This unethical builder 13 months later wants to collect $95,000 for the profit he would have made! The sales rep Kim Wallace and Owner Minja Netchiounas for MSN will tell you not to worry, if you cannot get financing to build the sales contract will be cancelled - not true. This is very unethical trade practices. if nothing else this needs to get out to the public so there will be no more victims of this predatory builder.