MegaStar Financial
Reviews and Complaints

I was real impressed with this company. The loan officer and his team was real professional and easy to work with. Highly recommend!

This company is not good. I had to talk on the phone for a long time and they kept transferring me to different people. They messed up my payment and nobody could fix it. I talked to lots of people and they all said it would be fixed soon, but it wasn't. My payment went to the wrong place every time. The supervisors were mad that they had to help me and I regret doing business with this loan company.

MegaStar Financial Corp. ain't good at all. Their reps are terrible and don't give you the right info. They ain't honest about giving back your escrow funds. I closed my loan in October and I'm still trying to get my $2,000.00 Escrow refund. They sent it to the wrong address with the wrong city and zip code, which wasn't even my place. When they got the check back in December, they didn't even call me. After a bunch of phone calls, I finally got a check. I deposited it, but then they stopped payment on it a few days later and took the money out of my account. The law says they gotta give you your escrow refund within 30 days, but they're saying I gotta wait another 30 days for a new check. And if I don't get it, they'll stop payment on that one too and it'll take another three to four weeks. It seems super shady to me.

I got a mortgage with Megastar. When I tried to pay, it bounced because the website used my old bank account by default (my bad, but the website is not user-friendly). I didn't get any email or notification on my dashboard that the payment bounced. When I checked my account, everything looked good and paid. There was no sign that something was wrong. I paid the next month's payment with no problem. Later, I saw that my credit score was affected because I missed a payment. It turned out that my payment bounced. I told Megastar, but they said they sent something in the mail. They don't send electronic notifications or put anything on the online portal, even if you signed up for them. This is not fair because everything looks fine when I log in. I got hurt because of this.

I got a problem with MegaStar Financial Corp. They've been overcharging me $224.29 on my monthly mortgage payment for 8 months now. I sent them a letter and my property tax statement on 02-01-2022, asking for a corrected escrow account analysis, but they told me today that "the task was closed" and they won't do it. I had to tell them to "re-open the task" because I need the corrected analysis done, but now I have to wait again. I still have to overpay on my monthly mortgage payment, even though they already had all the documents they needed to do the corrected analysis. I don't recommend this mortgage company because of this. If they don't give me a corrected analysis and refund my overpayments soon, I'll file a complaint with the ComplaintsBoard.com to get my money back.

I've been trying to get help from MegaStar Financial Corp. with my loss mitigation application since last year. I sent them my application, but they keep asking for documents that I don't have, like business tax returns and profit and loss statements. I keep telling them that my business closed in 2018, which is why I'm having a hard time. This is the third time I've sent them my application because they keep closing it due to missing documents. My application isn't going anywhere because they keep asking for the same documents. I don't think they want to help me save my house at all. They're making the problem worse instead of helping me.

I had a bad experience with MegaStar Financial Corp. They work with a PMI group that scammed me out of 3 months of PMI payments. I asked for $480 compensation in April by email, which is the only way to communicate with them. They said it would take 30 days to get a response, but by then, the next month's charge was already in process. It's a scam. I paid for the appraisal, but the customer service agent forgot to put it in the right place, and it took them 3 weeks to fix it. By then, another month's PMI payment was applied. The appraiser took a while to come out, and it was approved in July, but I was still charged in August for another mortgage insurance payment. If I emailed again, they said it would take another 30 days for a response, which conveniently made me have to make another mortgage payment. It's a scam. They need a phone option and to process things more quickly. I want $480 for the extra payments I made that I shouldn't have had to make.

I had a problem with Megastar Financial Corp. when I filed a claim for hail damage on my roof. They asked me to create a profile on insuranceclaimcheck.com and I did. I got an estimate from State Farm Insurance and submitted it along with other documents to the website. They accepted everything and I got $5,508.41 from State Farm. I submitted the check to Megastar Financial and they said they would release the funds in 5-10 business days. But they never did. I tried to contact them through the website and phone, but they kept redirecting me to different departments and telling me my claim required "special handling". I even reported them to the Attorney General of Colorado for insurance fraud. I still haven't received my money.