Is Nation Point Mortgage Company good to deal with?

I too had a terrible experience with them, they did a bait and switch with me. They gave me an intial low interest and then continued to put me off until when they finally finished the paperwork, the interest was 3 percent higher than they quoted. I would never recommend them. It was the worst experience I have ever had and I have bought and sold a lot of homes.

nationpoint was listed in a business magazine for scamming people into a subprime loans, and high interest rate, setting people up to fail.

Do not use Nationpoint! We had trouble with them closing on our house. At closing, they costs were higher than originally quoted. We were already getting ready to move to the area so we just sucked it up and dealt. Now here we are three years later. We had a hardship in August, filled out the paperwork and continued to make payments as we could. We never heard from them. They never returned our calls, certified letters, emails. We sent everything they asked for and no response, not even a denial. Then last week we received a letter from an attorney saying they had filed for foreclosure with no notice from Nationpoint at all. My husband called and attempted to pay everything that was back owed and they informed him they were no longer receiving payments from us at all. So I guess there is nothing we can do, even though with our tax refund we could have caught the loan up current

Thanks for sharing your experience. I can understand that you are facing a tough situation. But I would suggest you to speak to them once again and try to negotiate with them.

they send the "counseling" letter because they are obligated to. after that, they still do absolutely nothing, even if you have a short sale cash offer from a buyer on the table.

we're in southern california. my fiance has owned our house for ten years and he had to refinance to buy out his ex-wifes half when she wanted to move out of state. so he did a refi through what was then known as nationpoint. his ex moved out, we moved in and then 2 years later the arm kicked in at $4400 a month. so we stopped making our payments in november '08, started the loan mod process in december '08 and also listed the house for sale. we had to fax our paperwork three times and then nationpoint just sat on it. so then we got a cash offer in february '09, so we cancelled the loan mod process to do a short sale process (the lender will only do one or the other) but nationpoint has just sat on that, too. it's now mid-may '09. we're going into forclosure on june 3rd '09. our last ditch attempt is to cancel the short sale, restart paperwork for a loan mod showing what the lender will lose if they foreclose compared to what they'd have if they'd refi our loan for us, and in the meantime we have a real estate attorney reviewing the original loan docs for illegal or unscrupulous writing (i'm sure we'll find a lot) so that if we find something, we'll be following up our loan mod request with some threats of legal action on the illegal items should they not show a willingness to work with us. (we did not hire one of those fly-by-n ight "stop foreclosure" businesses, we hired an actual real estate attorney for $350 for his hour of time.)

regardless of anything illegal we find, in my gut, i think we'll still lose the house. luckilyy we have enough cashflow to be able to put a deposit on a rental to lease a bigger, newer, cleaner house in our area with a payment that is less than what we'd have with the adjusted loan payment. i just hope my fiance doesn't get hit with lawsuits for the balance owed on the house. that's a whole other can of worms and i wouldn't put it past any of the lender to try it once the dust settles.

Hi SoCal!

Welcome to forums!

It would be better if you could convince your lender for a loan modification. This will help you in saving the property. Moreover, your credit score will not be ruined.

However, in case the lender forecloses the property, there are chances that he can sue your fiance for the deficient amount resulting from the sale of the property.

Feel free to ask if you have further queries.

Sussane

:x nations point is the worst ever! do not use it

Some of you on here seem to not be aware of the huge fraud out there by mortgage companies. Bogus fees, rates, not returning calls, etc. When they are not honest, NO, they don't return your calls and the WILL NOT reason with you. Google "Litton Loan Services Customer Complaints". Read thru the thousands who have lost their home because of them and read the stories. I haven't been there in 6 months but am willing to bet the stories you will read are current and happening NOW. This dialogue has been going on for years. This is only one of many, many. Anyone out there who thinks that just following the proper steps will solve it is deluding yourself. I'm glad some of you have had good experiences. I had excellent experiences with First Franklin until they sold me to Litton Loans. Now I am losing the house as I had a cash buyer & for 6 months they would not release a payoff amount. They buyer walked and I had moved out of state. Repeated attempts by my attorney, realtor & myself, via phone, mail, email, certified mail, and fax for a six month period did nothing. They just simply would not respond!

Wow, I thought we were frustrated until I'm reading all the complaints on this website--we fit into every category--everytime we give them documents they say they haven't received anything or that the person we were working with isn't with the company any more and they don't have any paperwork--we have been doing this since last November...we have an ARM and are due to go up AGAIN in a month--it seems like its out of control and we are just along for the ride into foreclosure...we're trying to find out about the government stipulation that companies have to change an ARM into a fixed loan. Does anyone know anything about this?

I don't think the lender would change an ARM into FRM. However, you can always try to refinance the loan provided you are current on your mortgage payments and have equity in the property.

but so far they have been AWESOME for us. They get back to us right away-- within minutes, they have been helpful. I actually just got off the phone with them and they told me our loan should be funded tomorrow morning--- and we don't close until Monday morning.

We are also about 15 months post BK7 discharge with midscore 677 and we got 1 loan (no PMI because it is under 80K) 100% financing at 7.75%, 2/38 no prepayment penalty. They have been great SO FAR like I said I will be able to say it with 100% confidence once the keys are in my hand on Monday but so far I have no complaints and would recommend them everyone.

NationPoint Mortgage is a horrible company. They don't even open new /refinance loans because they are OUT OF BUSINESS. If you are okay with going to a lender that is NOT Fannie Mae or Freddie mac endorsed but made up of many lenders then you go right ahead and I guarantee you Nationpoint will take advantage of you, just as my family was!

Nation Point is bad, they gave me a loan 80/20 loan and says they would refinance me if I stay in good standings with them. 2 years later I ask for a refinance and they don,t do refinance. They gave me what is called a preditory loan at 57% debit ratio which I agreed to to get the house of my dreams. Now no will give me a loan, I tried to do a loan modification thru them and turned down saying i had $1700.00 surplus. I went over it with the person on the phone and she came up with $75.00. My loan on my mortagage is still at 47% to debt ratio and nation point says i dont qualify for any assistance. They are not there to help, there to take as much money from the consumers as they can. Thanks Nation Point

Again I would not go through Nation Point

Oh they can and do screw you two weeks out. We were having a town home built, told all was fab, then two weeks out was told we had too much debt and needed to pay down 12000 before closing, then would have to have a 40 year loan with arm at 3 years and huge balloon payment at end...too late for other financing....HATE THEM....now I am stuck with this mortgage on a home that is underwater and they call me 500x a day when the payment is not made on the first!!!! RUN as fast as you can!!!!!!!!!!!!!!!

I've had a mortgage with them for 2 years now, and no issues whatsoever. I find them upfront and very helpful.