Lennar Homes / Keeping Escrow Monies
Be very aware of Lennar Homes!!! First, they pre-approved me for a loan and told me that it would be easy to be approved for the final loan even though I had not the greatest credit. So we chose a house and put $1, 000 down on it. Then, they decided NOT to approve me through the credit company. What has ensued is a nightmare. I have a signed cancellation agreement on 3-5-09 for the full $1, 000 to come back to me. I was told it would take 6 to 8 weeks to receive it. Not only is it past 8 weeks, but now they are informing me of this (this is their exact e-mail to me, unedited):
I am so sorry I did not call you, I have not forgotten about you and just got confirmation that they are going to refund your earnest deposit but they are withholding 250 of the deposit for administrative and credit report. They use to refund the whole earnest but cancellations and denials have cost the company so much money they are now exercising their rite to the 250 that is stated in the contract.
I was told you need to sign one more form and it will be processed. Please call me and let me know when we can meet or I can
Not only have they ignored me repeatedly with e-mails and phone calls, but it is NOT stated in the contract that they get $250 for administrative costs. I've attempted to contact Brooke again by phone and e-mail saying that I expect the fully $1000 back. I've also asked what type of form I need to sign now that it's gone past 8 weeks and why they didn't have me sign this form in the first place? Lennar Homes is a rip-off. I gave them my deposit based on the fact that they pre-approved me for a loan. Now they've had all of this time to earn interest on my money and I fear they are pre-approving people that they know they will not approve in the final outcome just to get your down payment. Then they get to earn interest off of YOUR money and also, they hope that you'll just happen to "forget" about this money if it takes too long to get it back. In addition to saying they're going to take $250 of your money if they don't approve you. What a scheme!!!
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