Ronald
Glen Allen,#2Consumer Suggestion
Mon, May 04, 2009
I've heard of many of these Ryan Homes /NVR Mortgage tie-in rip-offs. NVR Mortgage and Ryan Homes are tie-in companies under NVR inc. NVR inc boosts its profit for shareholders by doing the tie-ins, which in itself isn't illegal. If the dozens of stories like this one are true, and I have no doubt they are, it may be a violation of local or federal anti-trust laws. I believe under NVR, 1000s or 10s of thousands of people have been pushed into using NVR Mortgage to buy Ryan Homes homes, on the basis of getting builder incentives or amenities. The question is how many have been cheated by this? The builder division in the tie-in typically threatens to, or does take away, amenities or other measurable benefits if you don't use their preferred lender. NVR Mortgage is nothing more than a loan broker, and that's how they make their living. Legally a builder cannot force you to use any specific lender, particularly by charging more or offering less value as punishment for using NOT using their preferred lender. It is difficult to get a lawyer to take on NVR, however if there are thousands of victims that can be collected, you/we will find one. Their binding arbitration scam will not protect them from this sort of action. Anti-trust violations have been challenging to stick, but we are in a political climate willing to give such claims there due.
Ronald
Glen Allen,#3Consumer Comment
Tue, April 21, 2009
From experience, and contacts with many others, the shuffle game is likely not because they are confused about the rip-off. When Ryan Homes /NVR inc screws up big like that, you will go round and round until your exhausted or statutes expire. This is not accidental. Eventually many figure out that no one at the company is ever responsible. It's always some other department or some other person. When you really hit that wall, and still won't accept that you don't matter, they will begin siting times they didn't screw up with other buyers as your reconciliation. If you can't force them to do the "right thing" they will not do it, in my experience. Contacting the builder and associates may just consume your valuable time. I suggest getting off their idiot loop ASAP and find other avenues.