Sorry that happened to you. I’m about to move into my new home from Lennar next week. They tried and tried to make me used their lender but I had a bad feeling about their lender so I stuck with mine. Even though they were offering $10K in closing cost. If you know something doesn’t feel right trust your gut.
Wow! I had no idea that could happen. 😱 We didn't have issues with our present home but I'm glad you posted so it's on the radar for next time. It will all work out for you....when one door closes a better one opens.
I’m buying a new with the same builder and experienced the same thing. Thank you for posting this video!! After watching your video I decided to go with a new lender that actually responds to mortgage Inquiry.
I’m a mortgage processing manager and 12 years is well beyond the threshold for a BK and/or FCL. That really sounds like unfair practices at Lennar. File a complaint with CFPB and the mortgage lending division in the state this happened in.
@@CorieScott I know that have in their contract that they can pull out for any reason which sucks, you can contact Bob, write bad reviews, post on their social media pages anywhere and everywhere and I would contact an attorney about getting your money back!. Also next time you purchase a house even if it's with a new build please get a realtor!! People think they don't need us with new builds but you always need someone to represent you and have your back plus it's free if your the buyer!
Eagle mortgage who is their lender is trash. Their contingency for closing is horrible and they don't walk you through it so if you miss anything your loan could get denied. I just bought a home from lennar and didn't go with their mortgage company.
I'd never go with them after this. Plus I've been studying them for over 2 years and their reviews are constantly declining, from bad experiences from all over the country. Thank you for sharing!
All builders in this. Ours was. Gravity homes. Lillian extension, pacesetter had no inventory or lots to sell. Price increase about every 3 weeks. Was insane.
So sorry to hear that you went through this deception. I am also thankful that you posted this video as I am looking into builders and had Lennar high up on my list because of the everything's included slogan. This changes everything. I hope things turn out well for you Corie. Keep your head to the sky and thanks for posting this video!
You should talk to a real estate attorney, that is so wrong on every level. I’ve heard of builders looking for any excuse to cancel client’s contracts just to get a higher price for the houses. Not all but some and looks like Lennar is one of them.
I thought about hiring an Attorney to sue them but if you look up Lannar the have 832 complaints with the better business bureau and a grade of C, so I will have to get in line. I also don't want to have to have this drag out in count for yers and pay 7 thousand dollars to get 9 thousand dollars.
@@CorieScott lawyer isn’t just about suing. They are not expensive in the grand scheme of things. Get a consult for a few hundred bucks and have them lay out your options. You might still have a chance of getting this home. It’s not about suing, but exploring your legally entitled options.
@@kayomichael I have already lost a 9,000 downpayment for this home. I did not want to spend another few hundred for a lawyer to tell me I don't have a case. I also Don't want to spend 8,000 to get my 9,000 back? As a side note they sold the home for $40,000 more then what I would have paid for it.
@@CorieScott Please consult with an attorney. You could be entitled to receive your $9k, attorney/court fees, as well as compensation for your damages (hotel, storage, stress, the difference in cost for a comparable home), etc. You have documentation, that goes a long way. They should not be able to keep your earnest money due to their incompetence. I read another comment saying some builders are canceling contracts to get higher prices. That wouldn't be surprising in the current real estate market. You will, likely, pay significantly more for a home now than 6 months ago. The more people who hold them accountable, the better.
I'm a realtor and although its very shady it is in your contract that they can cancel your contract for any reason no matter what! It is really just giving them an out especially in this market, they probably sold that house for way more than what you paid for it. They are very shady!
@@kiashaw Yes that’s true. It happening a lot these days. However, the difference is they didn’t give him his deposit back. Since they controlled the financing it sounds a little shady or unethical that they just decided to not approve his loan, keep his deposit, and then sale the home for a lot more money.
I feel your pain. These builders rush you on their time. We as buyers are at their mercy. Good luck to you and my prayers are with you. Even though you are ok now, you should not have to be going through this.
I’m so sorry to hear this is happening to you. Thank you for the warning in your video! I’m about to purchase a new home from Lennar in South Carolina. Their realtor is starting to really push Lennar mortgage. I can get $5k towards closing! Now that I’ve seen this and read all the comments here, I’ll stick with Movement mortgage. God bless you sir. Hope things work out for the better for you soon.
Thanks for posting this! We had a hard time with them as well and not wanting to accept ownership of their faults! Now I’m in my home, happy, however 6 months in and we have some structure issues! So I say don’t go with them they’re cheap and don’t want to do their job.
Congratulations on your new home. Make sure you contact someone with the CFBP and also report them to the better business. More people needs to say something so they be banned from building homes!
I know it was unsettling for you, but this was a blessing in disguise. I purchased a Lennar property last year and I’m not happy w/it. I have no intentions of purchasing another property with them.
I wish you would have used a Real Estate Agent. They could have alerted you to the market value and negotiated with the builder. Sorry you went through that but not all agents are terrible. Next time consider trusting the professional !?
Weird man! I purchased a Lennar next gen home here in Arizona about 3 years ago and it's been great so far. Honestly Ive had more issues with our water supplier (found out out drinking water was contaminated last year which had nothing to do with Lennar) and the appliances that came with home than the actual home itself. The few issues we had moving into the house were fixed within 48 hours and haven't had to call them or use a warranty since moving in. Maybe I'm just one if the lucky ones.
Omg wow I’m going through lennar now I hope everything goes well I know there’s hiccups along the way. I hope everything worked out for you in the long run
I hope you are not using Lennar Mortgage? Stay on top of them if you are and get a backup lender. Lennar kept my deposit of $9,000 and sold my home for $40,000 more then what I would have paid for it.
I'm so, so sorry that you went through this with Lennar. We built with them but did NOT go with their lender. They tried to make it seem like thy were the best option but we chose otherwise. I really hope they do right by you.
I wish I was smart like you and went with another lender. I posted this video so people will be away of what’s happening out here. Hopefully they will do the right thing.
Good to know this info, thanks! I was looking at Lennar properties so If I ever do business with them I will definitely go with a different lender. You should fight for your deposit until you get it back, that’s really unfair these rich companies keep money from the working class just cause they can!
So sorry to hear about this ridiculousness that has not devastated you but has made you very unhappy and disappointed. With all of the prayers and well wishes for you here, I know you'll come out on top. I admire you for taking time to share through your pain. God bless! Probably good riddance for you! 👍
I was looking at buying a Lennar home until I discovered they’er built with particle board. Sorry to hear that happened to you. Draw close to God . “His eye is on the sparrow, and I know He watches over me.” And you too. Keep your chin up.
Thanks for this video! I’m currently working with lennar and their preferred lender was giving me a really bad gut feeling, so I passed up that credit for going with their lender and decided to go with a more well known lender
I am disappointed to know that you are going through this. The stressors of watching the home building process and, to add insult to injury. I am praying that there is something bigger on the horizon.
This is heartbreaking. I’m so sorry this happened. Did they tell you why the loan didn’t go through? I’m not in NC but. I’m in an apartment and looking at a new build. So, I’d be homeless too if I put in my notice thinking I’d be moving into a house and they cancel the contract.
My husband and I went through the same thing with the same company!! They hyped us up for MONTHS and then on our closing day, declined us. We were heartbroken. They will be the downfall of their own company. Thankfully we were able to go through a different lender. Praying things go up from here for you and your family!
I'm sorry that happened to you. I though I was the only one? I'm so glad I created this video so they don't do this to anyone else. This company needs to be stopped.
Also, there is a clause that allows the builder to terminate BUT they have to give your money back. The pricing of lumber and concrete are soaring and if you contracted for a much lower price than today, they aren’t going to make the same money they would have when your signed. It sucks but they need to be honest so the termination paperwork “reason” is very important.
Holy moly, I’m going thru the same crap. Luckily for me, I was pre-approved by a very reputable mortgage lender first before looking for a home and so when Lennar was screwing me over, I went directly back to my old lender and they helped me out. I’m about to close in 2 weeks. And I hope all goes well cuz if it don’t my family will be houseless too.
Well you did the smart thing by going with a different lender. Unfortunately I was not that lucky. Things should go smooth with you as long as you have another lender. I pray that you get your home and don't become homeless like me. I will be praying for you and your family. Keep me informed.
@@CorieScott Thank you for your prayers. I will pray for you that you will be blessed with the home of your dreams 🙏 I will keep you posted on my progress 👍
It happen to us with movement mortgage . We got our deposit back from our builder True Homes and they allowed us to come back and build again but this time we found our own mortgage company it wasn't a preferred lender. If you are in the NC area We went thru Conerstone Lending Authur Green is the senior Loan Officer. When we found out we were building we went month to month with our lease yea it was a little more but when we lost our first home we still stayed in our same apartment . Please do more research learn all you can and dont give up you will get our dream home. Blessing
Oh wow, sorry that happend to you but at least you got your money back. With this crazy market builders and mortgage companies are getting over on people. Thank you for replying and the great advice of keep moving forward.
I had several issues with Lennar Mortgage as well. I filed a complaint with the CFPB and decided to go with another lender. I hope you're in a bigger better house now!
I’m glad you went with another lender. I filed a complaint with the CFPB too but they did nothing. Yes I’m in a home now and I’m in the process of making it bigger and better. 😊👍🏾
It’s because your original contract was for a less expensive price and they did all they could do to find a reason to drop your contract so they could put plot and home back on the market for $150k more :)…. This is what builders are doing now.
I am so glad I saw this video today. It sounds like one must have their own lender which means to closing cost incentive will not apply because one has to use their people. This is very sad. We have narrowed it down between Lennar and Dan Ryan builders. We like Caruso but they are very expensive for standard features.
Corey you cant let them get away with that. Please Speak to an attorney..If you have a legitimate case, There are all kinds of compensatory punitive damages you can be rewarded..including Treble. Don't let them get away with it. Make them do right by you, no matter how long it takes..
Bad Idea, he will end up completely BROKE! Corey don’t do it just count your losses and learn. This is coming to MANY IN THE UNITED STATES, the economy is about to go to a HELL Basket
Six week before closing with Lennar, I decided to go with a different lender because I felt that they were behind on my finances. The last home I bought, the lender was in contact with me until closing... And by choosing a different lender, LENNAR sped up my closing date to 2 weeks early. My new lender is struggling and my new Lennar home is a mess. The fit and finished is just horrible. There was red ants during the walk through!!! I just want to back out, I hope Lennar denies me!!!
Oh wow, good choice with going with another lender. You don’t want them to deny you. They will keep all of your money. Just keep good documentation on what’s wrong with the house so you can file a complaint with the CFPB. Lennar is such a bad company and they need to be stopped.
I got here in a circular way but I think everyone should hear this story. The best way to do this (if you can) is to correct the spelling of "Lennar" in the title so that anytime someone types that word in, they'll most likely see this video - because people need to know! Also, it is 2 months later so I'm gonna go see if you posted an update but I hope to God that something better is/was waiting for you. Be well Bro and thanks for sharing this. They should NOT be able to get away with this!
I will try to update the name but this video has had a lot of views. As a side note, they sold my home for 40,000 more then what I would have paid for it so its no hope for me to get my home. Thanks for your input and your suggestions.
Building with Lennar right now with an outside lender. Considered using their lender, but was skeptical about how inconsistent the communication was after I got pre approved. Not surprised by this blog, but wish you the best my man!
My daughter purchased from them and regret it. Outside flooding. Another, time the entire basement flooded and she had a real battle getting them to repair, they still have not repaired the real issues. And she is still in warranty. So, you are blessed, and better blessings are ahead for you!!
I have made peace with it. Something else better is out there for me. I created this video so this will never happen to anyone else. Thank You for your comment.
This is horrible! I pulled away from Lennart because some things just didn't feel right. I ended up contracting with Mattamy Homes in the Phoenix area. Definitely want to keep watching your journey. You're will soar high soon enough ☺️.
You were smart to pull out. As you can read in my comment section a few people were like me and did not get their home. I know their is something better out there for me. Thanks for the kind words. Have they finished building your home yet?
@@CorieScott I saw the comments of others. Very disturbing 😢. Yes, my home build completed in May. Although I started with the preferred lender for Mattamy Homes, I switched to a different one. Of course doing that means I lost credits they were giving but it all worked out in my favor.
Lennar is sketchy in Texas too. My build was struck by lightning and was damaged to tear down. So I was thinking we'll start over. Nope the canceled contract as well. And raised the price of the exact same home on same lot $79,478. I said no I had a real estate lawyer and a great realtor. Needless to say I don't have a lennar home but I won my case.
Thank you for sharing this video. My husband and I are looking to build in NC and for me Lemnar was my number one. Let me ask besides the lender's unethical practices, what did you think of the construction work?
Sorry this had happen to you. These builders are all about the money and don't care about the lives they destroy when they screw people like that. Hey man hope things turnaround for you. Keep your head up and hope for best. Take care and God bless .
I’m so sorry this happened to you, that’s really f* up. I’m currently getting a house built with lennar and have 3.5 months until it’s finished. I’m also going with their lender. That just worries me.
Have you contacted Lennar Mortgage and asked them when are they sending your loan to underwriting?? And I would also apply for a loan with another lender as a backup just in case they try to do the same thing to you.. You may also get a better rate and some closing Incentives.
My Loan went to upfront underwriting and I was conditionally approved. I have another lender I was working with prior to switching with lennar so I’m going to keep them just in case. I’ll keep you updated on how it goes.
This is going on across the country. It’s because of the housing market is so hot right now. They want to covert existing build contracts to inventory houses. Builders are seeing people have instant equity after they’re done building and can immediately resale for $100-200K more. They want that equity so they cancel the deal in order to convert to inventory houses.
Wow Corie we went through the same process with Eagle Mortgage so we went with another lender. But we have been living in our Lennar home for almost a year now and we already have 100k equity in our house.
Post at least 2 videos about your dealings with Lenar every week. Make sure they’re all 100% factual so they can’t sue you for slander and win and tag them in the videos on social media. Watch how fast their corporate office calls you to fix the mess that they created.
I am so sorry this happened to you Corie. I had no idea whether I was approved or not until signing day(luckily it was in my case). They kept on asking for the same paperwork that was already submitted. The whole process was not good. I hope this works out for you
WOW I’m so sorry 😞 sir. I worked for Lennar homes 🏡 for just one month shy of 5 years. I quit because my job was a dead end. I wasn’t fulfilled there and I believe my manager was a narcissist. I believe she was jealous of me. One month before I quit I had to report a coworker for hitting me. She hit me in my arm with a stack of papers because I didn’t agree with her on something. I went to HR and the lady went back and told everyone what happened. Of course her version of the story and everyone in the office turned their backs on me. I had a bruise on my arm, but she made me to be the aggressor. This was in 2017 in the Houston corporate office.
Oh wow, I'm sorry that happened to you. I made this video to expose the company that lennar is, I had no idea they were doing this to a lot of people. I also did not know how they treat there employees? Thank You for sharing your experience.
I don’t know you. But sounds frustrating.. Sorry to hear that. Sounds like someone made a mistake. Thanks for sharing your experience so that we can learn from it. Hope things will be better...
HOLY COW?! THATS DREADFUL! Gees, do we even have insurance to protect against this FBS? IM SO SORRY FRIENDS! You can come stay with me! Praying for BEYOND RESTORATON…to where you won’t even remember this misery! 🙏🙏🙏
Next mortgage I get I will be making sure everything is in writing , save all emails from builder and lender, record every conversation between parties and I will gladly pay a lawyer to look over everything , that is messed up I know you were looking forward to your new home 🏠 just shady
Hey my friend maybe it's easy to say.. I believe if it's not for you, it's not for you and something bigger will come to your life.. God bless brother!
I’m so sorry this happened to you. I have some familiarity with home builders in Texas. A combination of factors, material costs, skilled labour shortage, overworked inspectors has created this mess that has hurt thousands of potential homebuyers. Strictly speaking specifically for central Texas new home builds are being built to low standards. An independent home inspector has warned me that he would not buy from a national home builder in this area. Always hire an independent inspector outside from your builder. As a small constalation, perhaps your guardian angel was watching out for you buying a lemon. You come across a very sincere person and I hope things will end up better for you.
This is horrendous. I almost went with them and my spirit said no. The realtor was mad but this company (Lennar) is cancelling contracts out here too due to the higher construction costs. Sad.
I’m glad you trusted the Holy spirit. Not only are they canceling contract, if you look threw the comments you will see that they don’t hinder their warranties and they build cheap homes that fall apart. So you may have dodged a bullet by not picking them.
Hey corie My husband and i tried buying a brand new spec home from LGI in San Tan Valley.. And we had done all of our paperwork with our lender Jessica from loan depot... And as we had signed everything... Everything went through... The lady who showed us the home from LGI decided too jack the price of our home $40,000 dollars more then what we signed already. And we told the lady we are not about too get screwed... We backed out on the whole deal...
Sorry to hear! We are looking at a Lennar community and read some bad reviews on Eagle Mortgage. I think we will look into using a different lender and hope for the best 🤞
Yes use a different Lender because they offer you money for closing but its not worth it. They is also a lot of programs out there that you can qualify for and they will not even offer it to you. My biggest mistake was trusting them and they took my money and sold my home.
I had a similar experience with LGI they tried to force me to go with their preferred Lender, they preferred Lender told me that they couldn’t beat the loan approval I already had so then LGI tried to force my lender to be in underwriting within ten days and not to mention they haven’t signed the contract yet and they was going to keep my deposit but my lender called me to let me know what was going on I went back to LGI to get my deposit back. I hate you went through this! 🙏🏾🙏🏾
@@nursekatrice309 Im sorry that you went threw that experience but at least you got your money back. The is getting crazy with these builders just doing whatever they want.
I'm very sorry to hear of your experience with Lennar. However, not surprised. We were at the closing attorney's office when Lennar cancelled our closing. We didn't use Lennar Mortgage and had everything in place to close. I cussed at the home site on the morning of closing. There is no "cuss" clause in the agreement. Advice, have an attorney look over your agreement prior to signing. The contract heavily favors Lennar. Best wishes.
I just purchased my new built 🏡. The builder wanted to give us $5000 to go with the Leander they had, I said hell no I have my own closing cost.I hired my on realtor went with her lender, no problem 😊 every time I had a problem I told my realtor she delt with the builder so glad I did.
@@noladowntown You did it the right way. This was the 3rd home I have purchased so I thought I knew what I was doing. They saw me coming. Took my money and all my dreams away. I made a lot of mistakes by not getting a relator and going with their financing company. Lets say I learned a very expensive lesson. But I hope this video helps someone out and not make the same mistakes I made.
Any large builder would already know your background in terms of bankruptcy or any hindrance that would not qualify for the purchase of your new home. It appears that they originally approved you knowing you had this in your financial history and choose to create a binding contract with you. Discrimination I'm not sure. A higher profit margin selling your home to another buyer, sounds more like it. The supply and demand of homes are out of sync. More buyers not enough home's. I really feel for you my friend. I truly hope you can get some type of resolution to this and it all works out for the best.
I would never go with in house financing after being in the first time home buyers group. They say you get all these discounts etc but don’t you they add on extra fee’s as well. That & what happened with you will most certainly happen. I have been looking at Lennar bc I am on the lower income and they are affordable but I may go with a small builder that’s not in such a rush to push all these houses out.
Sorry it went this way. I would say to never use the realtor or mortgage company from the builder/community. They never have your interests at heart, only theirs. Also, always shop for rates. You can use that as leverage. If lender X doesn't give you what you need and are PAYING for, lender Y will!
They trick you by making it attractive to go with in-house lender by offering discounts or credits towards closing but then don’t perform. So sorry I hope you get resolution and get the home 🏡
I just got in from touring and falling in love with a Lennar house!! After seeing this, I am no longer interested in a home by Lennar! Thank you for posting this!!
Happened to me last year with them I was crushed only to find out they already had someone purchase the home for more than what I would have paid for it they sold it to this independent company they was looking for tenants to rent to I seen it on social media the same day I was suppose to go to closing I was able to get my deposit back only reason I didn’t blast them I just would never refer or do business with them again I feel your pain & frustration I pray you find something bigger and better
It happens. The cost of materials and to do business has gone up because of the market concerns. The fist six months are over, which were the worst, but it should be easier to build the home this time. Sorry this happened.
I understand that the cost of building a home has gone up but they kept my 9,000 deposit and sold my home for 40,000 more then what I would have paid. They are just being greedy at this point.
Lawyer up man. Big home builders are so swamped and they are very scattered and disorganized unfortunately. Because of this they know their market is not hurting at all and don’t mind stepping on people.
Ask BBB, Fair Trade Commission, free consult real estate lawyer, talk to several real estate agent. Journal every details dated ,& time. You can seek a pro bono lawyer, keep a folder of all expenses like hotel receipts, food, fuel, dr visit,, otc meds, mileage driving to find a place from the time you got turned down.
Happened to my brother for a cash buyer. Even worse as they were haggling him to sell his house ASAP so he took a lower offer to get his house under contract over a holiday weekend. Couldn’t get ahold of anyone at lennar so when he went he got ahold of someone Tuesday they said they house is no longer available even being under contract. Let’s just say he made a BLOCKBUSTER movie at the sales center. They tried to get him to go in back but nahhh he made sure everyone heard his pain. He is actually still trying to recover from that to this day. Icing on the cake, the cash buyer sold the house within the year.
I’m sorry that happened to him, but if you look into my comments, you will see that Lennar has done this to a lot of people. Tell him to report them to the CFPB and the better business Bureau.
@@CorieScott I believe too took some course of action. This was like 2019ish and he drives past the community daily to go to work. Big thorn in his side as he can never forget it. Same next gen house he was going to pay $365k is now like $600k. Lennar like big corporations all need to be held accountable as they feel they are above the law.
Next time get a lawyer. You should have a lawyer and the builder should have a lawyer. You should have giving your check to your lawyer and your lawyer would write up a contract to protect your down payment. So sorry this happened to you but don’t give up keep pushing
File a lawsuit. Simply wait on the process. Keep records of everything. Don’t give up. I was told to never to use in house lending. Always use someone you’ve selected. Their in a rush because they did not due what they were supposed to do and if you decide to sue, it will cost them more than the 3%, plus attorney cost, plus hardship, plus they have breach their contract.disclaimer: not an attorney, simply sharing what I’ve learned.
I’m closing in two weeks but I went with my lender service first mortgage but also applied with lennar to see what they were about and they were doing shady stuff and couldn’t figure out my information and they wouldn’t answer my calls and emails and then I received and email with one day notice that if I didn’t sent all the information that they needed I was going to lose my house but luckily I had the other lender I applied with both at the same time to see who would give me a better deal
