National Home Buyers Alliance did not hold to true to what contract states.... Calumet City , Lenaxa Kansas Illinois

This company has been connected with the BBB in Houston for complaint reports to be sent to as their home office.  The BBB said this company was closed so the complaint was closed.  The office that I complained on was HBI / Home Buyer Investor Group in Houston with the names:  Barry Powell a/k/a Barry Power, Thien Cao, HBI and Home Buyer Investor Group.  Somehow they are all linked.

...do not ask you for money on a monthly basis like NHBA unless it is an application fee.  If you are approved and choose to use their company, you may have to pay a fee if your closing date is extended.  And if it is extended, they do not ask you to pay thousands of dollars!!  This practice is ridiculous; to ask individuals having a hard time to pay thousands of dollars is just a rip-off...I would NOT conduct business with this company.

There is a law suit filed against this company right now.  But, if you can not hire legal assistnace, you can complain & file fraud charges agains NHBA to the Better Business Bureau and file a complaint with our State's Attorney's Office, Lisa Madigan.  The more people know about this company's fraudulent practices, the better because we can keep them from attempting to hurt other people.

Good luck!

...do not ask you for money on a monthly basis like NHBA unless it is an application fee.  If you are approved and choose to use their company, you may have to pay a fee if your closing date is extended.  And if it is extended, they do not ask you to pay thousands of dollars!!  This practice is ridiculous; to ask individuals having a hard time to pay thousands of dollars is just a rip-off...I would NOT conduct business with this company.

There is a law suit filed against this company right now.  But, if you can not hire legal assistnace, you can complain & file fraud charges agains NHBA to the Better Business Bureau and file a complaint with our State's Attorney's Office, Lisa Madigan.  The more people know about this company's fraudulent practices, the better because we can keep them from attempting to hurt other people.

Good luck!

thanks for the information however I do not want to spend any additional monies since they said they would pay both the closing cost and down payment.  Of course they changed their website to say only the closing cost.  My problem is that I spent alot of money and would like to get it back since they can't do what they said they would do.  has anyone ever sued NHBA and what was the result?

I purchased my home, NHBA did not hold true to what the contract stated... i found a seller that offered 6% towards closing... At the time of the the application process i received a certificate that would have allowed NHBA to pay $500 towards homeownwers ins. or towards the closing cost... Of course they used the excuse "well you did not pay any money out of pocket, so we won't give you the $500.( they stated that the seller needed to pay 6% not me and oh yeah i paid my own downpayment so in essence i did pay out of pocket) my opinion after oct. of 2008 if they are still advertising downpayment assistance then it should be considered false advertisement, because clearly they are not allowed to do that because they are making a profit off the deal, hence your "one month's gross income".... my advice to you is too ride the program as much as possible choose your property wisely, keep on them. you don't have to use their mortgagor you can choose your own... i used theirs my mortgage broker was a big help to me, but im in a different state. research as much as possible about the fees that are charged to at closing because it is possible that they double charge for things(check your hud 1 line by line, you can choose your own real estate attorney) be involved this is a big step buying property this your investment... You can use your 8000 tax credit for closing if you want too when applying for your mortgage ask your broker about a bridge loan for your closing costs if you can't pay them yourself(it is legal...do your research...) you cant use the 8000 for the actual downpayment for FHA loans but it can be used for other cost ie... CLOSING COSTS!!!!!!!

I have had the same thing happen to me except we paid over 7,000. for our program fee.  we were told that they would pay our down payment and closing cost.  now that we have followed the program for 2 years -  which the program only consisted of them calling every 2 weeks to ask us how we were coming along with cleaning up our credt.  It is time for us to get approved, and they are telling us that they can't pay our down payment due to the bill Bush passed in october 08.  My contract states that we will not have to come up with any further money out of pocket.  isn't the contract void if they can not fulfill their part.  what shall we do?  and what have you done so far?