North Ameriican Savings Bank / Terrible bank
I am going to keep this rather vague. T here are 3 reasons for this. The first is that we have hired an attorney to look into a few things. The second is that they have not returned forms that were sent to them on February 4, 2009. The third is that we hope to renegotiate rate and terms of the note.
We wanted to purchase a home and relocate so we listed our Las Vegas property in November, 2008. We were granted a mortgage for the home we are now living in. We put 10% down on this home plus fees, etc. We were told that they would put a lien/deed of trust/whatever in the amount of $20, 000 to make a 20% down payment on this home and reamortize the rates. That was fine with us. We were glad that after the home sold we would be able to bank some money and, most importantly, pay down credit card debt. Our goal was to move here with just the utilities, cell phone and insurance bills.
The Las Vegas property finally sold in October, 2008. It was a 20 day close, so on the 14th I got a phone call from the title company handling the sale. They confirmed with me what banks needed to be contacted for payoffs. I gave the information and said that they (NASB) should be stating $20K. Imagine my surprise when the title company called me back stating that NASB stated $67.5K for the payoff! I/we were sickened and upset over this! We spent the rest of that day and the next calling and faxing them trying to straighten this out. No luck, no dice. Only thing they did say was 'XXXX would NEVER put an amount down'. They also refused to negotiate rates and terms.
So, here we sit, about to file bankruptcy, and on the verge of divorce due to the problems we have had. I am only writing this so that others who are offered a 'deal' such as this to READ EVERYTHING AND IF YOU HAVE QUESTIONS ABOUT WHAT YOU WERE TOLD, CONTACT A REAL ESTATE ATTORNEY. And, for what it is worth, make sure what you are promised is written somewhere.
Thank you for your time and attention.