NVR Inc Mortgage Complaint

NVR Inc Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure Virginia

I am writing because I am currently about to be foreclosed upon because I am unable to sell a home I purchased in - -. I am unable to sell the home because of a fraudulent note provided by NVR Homes Settlement Company on - -, - and a - year interest only note I was provided by - - - as a result, also on - -, -. Here are the circumstances that led to my signing the note : On - -, - when I signed my contract to purchase my home from NVR Homes, the contract had a cost estimate evaluation for a - Interest Only ARM ( see enclosure ). After the contract was signed, NVR Homes Mortgage company was unable to procure this ARM and offered me a sub-prime loan, which I refused. My credit score was well over -. After I found my own financing, NVR produced a HUD 1 statement with a - year fixed mortgage at a 6.5 % interest rate. At the closing table in - -, I read the settlement paperwork and instead of a fixed rate of 6.5 %, the interest rate was stated as prime plus 1 %.


to a local - - - to confirm the loan I signed was the same as the NVR HUD 1 statement. The - - - banker said it was not and that he would fix it. He produced a note that had the same interest rate and monthly payment as the HUD 1 and I simply was n't knowledgeable enough to notice it was a - year interest only loan ( see enclosure ). I did not learn it was an interest only loan until a - - - representative who was looking into a loan modification for me in - wondered why my principal balance had not changed after - years of paying my mortgage. I never missed a single payment in - years until - - - forced me not to pay for - months in order to qualify for the loan modification. In -, - - - gave me a - year mortgage at 6.5 % interest with a - year ARM at 3.5 % interest ( see enclosure ). I have submitted all of the paperwork I can find regarding the statements I made above. In -, the - banker kept the HUD 1 and original settlement paperwork from NVR Homes but the note I have attached was notarized by a - notary public, ( redacted ), and not - at the NVR Settlement office. I called the NVR Settlement Office to obtain a copy of the mortgage paperwork with the prime plus 1 % information but they said NVR Settlement Services , Inc. destroys all records after - years. To add insult to injury, out of the - homes NVR sold on my block, the only - families in the neighborhood ( I am - ) are in - adjacent houses. My credit score for - years has been well over - because I pay all of my bills on time. The only time my credit score was lower than - was when I was forced by - - - to miss loan payments for the loan modification and now my credit score is well below - because my income is substantially lower and I am unable to sell a home in - of the hottest markets in the country. I inquired about the huge national mortgage settlement in - ( see enclosure for CFPB case - ) but I do not qualify because ironically, my loan was serviced by - but is owned by - -, a bank responsible for paying settlements to homeowners. Because of the lack of equity in the home and the fact that I owe $250000.00 more than it is worth, I am unable to refinance or sell the home nor do I qualify for the HARP or HAMP programs, because my loan is not owned by - - or -.