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Vanderbilt Mortgage Consumer Reviews

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Vanderbilt Mortgage Is Nothing More Than a "Legal Loan Shark" Company.
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

MARYVILLE, TENNESSEE -- I have been behind 30 days off and on for the past year due to Vanderbilt raising my interest rate yearly!! It has gone from 5-7.5% in 6 years. Apparently this is how the company works! They want the LAND! A person cannot get a home loan through them without putting money down as well as PUTTING ALL THE LAND UP TOO!!!

This company is a crook! I have been harassed badly this past year by a "shark" they send out to my property to "collect." They beat on my front and back door. I have recently caught them hiding in some bushes on my land with binoculars watching my house. When I noticed he was there, I called 911. Then he took off before they could get here. I was unable to get his plates due to the car being filthy. This man's name is James and that's all I know. What I would really like to do is get several people together to form a civil suit against them!!!

Also, the home I purchased has severe damage to roof (holes not filled in properly prior to shingles). Nearly every room in home leaks. Duct work is terrible, walls are cracking, plumbing is bad. This was to be an energy efficient home which has proved untrue. My air/heat unit is only built to withstand 1600 sq ft, I have 2200. My lowest energy bill on average is approx. 450/month. Unacceptable! I would never advise anyone to go through Clayton or Freedom Homes as they ONLY use Vanderbilt as their lenders!!! They are ultimately out to get property!!!

Ripoff Mortgage Company
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

HICKORY, NORTH CAROLINA -- My husband and I applied for a mobile home loan and it was with Vanderbilt. We wanted to use our land as a down payment, as advertised. The loan officer contacted us with a loan approval, using our land and ten percent down of our loan which would have been an additional $9000,00 down. That would have been a total of more than $25,000.00, and a house payment of $975.00, which is more than what we are paying in rent! This company is designed to set customers up to lose their land, home, and money! We declined the offer and decided to go somewhere else. I WOULD NOT RECOMMEND THIS COMPANY TO ANYONE!

StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

EL PASO, TEXAS -- Vanderbilt Mortgage along with Clayton homes have done so much fraud to innocent people. When I was 19, coming home from serving in the military and my father being disabled, we applied to get a mobile home. We had lived in apts our whole life and we wanted something to call OURS. Clayton homes said they had a great program for disabled people and for veterans. He advised us to go with a $40,000 double wide. We agreed. When we went to close on the home, the paperwork showed loan for over $100,000.

When we question them and the lawyer, they states that credit line was approved for $100,000 but they were only going to charge for the mobile home and the miscellaneous stuff that needed to be done to get home established. I signed that paperwork not knowing that these people were setting me up with a loan for over $100,000 for a mobile home that is not worth more than $40,000. Please be careful when going with this company. I'm trying to get legal representation to make sure this issue is address.

Worst People in the World!
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

TENNESSEE -- My family and I were only 10 days late with a payment. First time ever late. We both got called twice a day every day for a week until we made payment then charged double late fee... They harassed us asking if we can borrow from friend or family, and get a payday loan even! They call from their house and can hear his wife yelling at kids that are screaming!

Really? Why don't you see if you people can borrow some respect and honor! A 125,000 loan and they trapped us as first time buyers, and we are paying 300,000 back. We are disabled and have a fixed income with two small children. They gave us hope and a dream that came true, but took it all away with the aggressive loan and harassment!

Too Stupid To Function And Heartless
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

OKLAHOMA CITY, OKLAHOMA -- My husband and I are purchasing a foreclosed home under Vanderbilt Mortgage. Our loan IS NOT through them but they own the home. We signed an agreement and received a closing date. Fourteen days before we are scheduled to close, my husband and I turned in our 30 day notice to our landlords. We paid for April's full month of rent so we had time to fix a few boo boos the home encountered during our four year NEVER A DAY LATE on rent house. (Holes dug due to our dogs and painting the base boards we nicked with furniture and our toddlers toys).

Apparently Vanderbilt is too stupid to check their titles to the homes they purchase (God forbid they actually read things) and due to THEIR negligence we have to wait for the title to be fixed. We had a signed contract stating we will be moved in on a certain date but could possibly be 5 days earlier or 5 days later than the listed closing date which was okay with us.

However, now we are 8 days past and still no luck with the title being fixed. I thought things were hopeless UNTIL I faxed, emailed, and forwarded texts and the contract to a Real Estate Attorney. Let's just say whether we get that home or another it will be at THEIR expense.

I have never been a "sue happy" person but after being treated like crap this will be extremely gratifying. I also received permission from my attorney to forward all listed above info to our local news stations. Maybe now dealerships will think twice before using these jack wagons for loans!

Mortgage Fraud
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

MARYVILLE, FLORIDA -- I have a complaint against Vanderbilt Bank. I have the payments drafted biweekly. I receive a statement every month. With that statement comes a coupon where I can send in an extra payment. On this coupon, it says “Your account will automatically draft as agreed. Please use this form to make an additional payment by mail if desired.”

I used this form to make an additional payment. They used this additional payment as a customer payment instead of an additional payment and did not draft out the normal payment. When I asked about this, customer service said that it had to be more or less than the actual payment for the coupon to work. This was done on 20 NOV 2009.

The second time I used it, the same thing happened. Only I put in over double the amount of the drafted payment. This time I was told by customer service that it had to be under the amount of the drafted payment. This was done on 24 DEC 2009. When I asked them to fix it, they said it was too late and could not fix it.

So I tried again being under the amount of the drafted payment. I was $4.89 dollars shy of the drafted payment to make sure that it was not used as a customer payment. Vanderbilt still used it as a customer payment and did not take out the drafted payment as they were supposed to. They added on negative $4.98 dollars to make it work. This was on 27 DEC 2010.

When I asked about what happened, customer service got me in contact with the accountant. I asked the accountant what happened and she asked me if I had put for PBO only on the check. I said no because it had said that the coupon took care of that. She laughed at me and told me to put PBO on the check. I asked her to correct this problem.

This is how she corrected it. She took the next draft payment and took it off and used it all for the Principle balance. She however did not draft out the payment to replace it. This left me short two payments. She did not remove the negative $4.98 as I had asked. This rose up the amount of interest that I owed. It also took away from my escrow, making it where there would not be enough to pay the insurance.

I asked how I could make extra payments. I was told that I had to go online and get a special coupon, print it out and use it to make extra payments. The side effects of the extra payments were that it messed up the schedule of the drafted payments. The payments were every two weeks on a Wednesday. Then it changed to Thursday. Then it changed to Friday. I never knew when the next draft would take place.

I got mad and went to the BBB. I made my case and BBB accepted my case and contacted Vanderbilt. That got their attention. All of the things that customer service said that could not be fixed were fixed. I used the new coupons with no trouble until 22 JUN 2012. They did it again. They used the extra payment as a customer payment and did not draft out the regular payment as they were supposed to. When I asked why, I was told because it was too close to the draft date and it canceled out the draft. The funny thing is that the first draft was taken out on 20 JUN 2012 and they received my extra payment on 22 JUN 2012.

It does not matter what date the extra payment is posted or when the next draft payment is due, this should not happen. When I asked customer service to correct this, she suggested that I use a phone check. The phone check has a $10.00 fee attached to it. I told her no. When I told her that I was going to call her manager, she found a way to fix the problem fast. If I cannot use the coupon sent to me every month and I cannot use the coupon from online, then how can I make extra payments? I was also sent an amortization. I cannot pay off the interest either by regular payment or by extra payments. I will even pay interest on my last payment.

Is this legal? I was told by a customer service member that there was no magic way for me to make extra payments. I have tried BBB, CCA, HUD, and other organizations, but to no avail. Vanderbilt will not respond to them or to me. The main question is this: the coupon that is sent with the statement is misleading. The coupon says it is to be used to make additional payments, but when used, it is not accepted as that way. There is nothing on the statement or the coupon that says not to use this coupon or how to make additional payments.

Why, then, send this coupon with the statement? Why not send the other coupon that I was told to use? The other coupon is more specific. It has on it **PBO** in bold print. But when used it was still used for customer payment instead of extra payment. No matter what I do, I am lied to by the customer service personnel. They try very hard for me not to put the extra payment on the Principal Balance.

I have had enough of Vanderbilt Mortgage
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MARYVILLE, TENNESSEE -- Where do I start with these low life's? Let's see I got a loan for 38,000 on my home 4 years ago. So that means I have been paying 525 a month for 4 maybe 5 years now. Do you know how much they say I owe them still? And no it's not an interest only loan, 38,500 more than the damn loan. That's just for starters. They call as many as 5 to 6 times a day cellphone, work phone, house, and yes even search to see what neighbors were around me, got their numbers and told them to give me a message they called.

None of my neighbors are on my list of contacts so they had no right calling them. When you do call them back and actually get a hold of someone, they are the most unprofessional, rude, have no idea what they are doing people I have ever talked to. You can call them back the same day and talk to someone else. They give you a totally different answer.

Here is the best part for many months they have not been applying my money sent to the account, straight to unapplied funds...They even went so far to send me repo papers and gave me a court date to appear to try and save my home. They sent me papers stating that I qualify for help and to call such and such number for assistance. We call and guess what? They say they have no programs like that.

Well I got the money by using my entire paycheck and my wife's paycheck and borrowed the rest to get it caught up to what they say I owed them. We sent it via USPS certified mail and overnight shipping. They signed for it and never applied the money to the account, still in unapplied funds.

Then we finally get a call from somebody that actually knows something and she says that we are currently 3 payments ahead not behind and haven't been behind, has no record of the repo papers that was sent and nobody there has ever seen an account screwed up as much as mine and the worst part nobody knows what to do.

Besides this they totally destroyed my credit. So all the complaints here I will have you to know that I am suing them for the most I can possibly get from them. I requested the payment history and I have as well as many other people never seen such a ** up mess in all my life. I always thought the more you pay on something the less it costs not my home.

I hope they have to change the name from Vanderbilt Mortgage to Williamsen Mortgage the S.O.Bs. Oh another thing they like to hold your money orders to the day after the due date. That way they can get late fees on it as well. I have lots of other things I could put down but you get the point. STAY AWAY FROM THESE SORRY S.O.Bs!!!

Do NOT Use Vanderbilt Mortgage
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Due to a move for work we had to find a home quickly. We opted for buying a mobile home and lot so we could get out of the hotel faster. We shopped several sellers and found a home more than 3 hours away through a local sales lot. We were under contract for the purchase of the land and that was to be included in the purchase. We put $10,000 down for the land and home, but when we went in for the closing were told that the lender would only finance the home. When the first draft from our account didn't go through I called the lender, Vanderbilt, and asked why it didn't withdraw I was told there was no account.

I called the next month and same thing. I called the next month and really pushed why there was no account and was told that our mortgage had been rejected. At this point we had been living in the home for several months and no problems with the home had been addressed. I called the sales lot and was told the manager had left and they wondered where the home was. We then had some suits from Clayton Homes come out and they offered to do the repairs and ensure that the loan was approved. We should have taken our money and run, but the thought of moving and looking for a home was too much.

We signed the new papers without any credit for the interest they earned on our money for the last 8 months and moved on. Not all repairs were done, but we just let all that slide. I called to tell them that our bank info had changed and not to draft from the other account. They never changed the bank info and drafted from the now closed account and of course it bounced. I had to pay the bank the fees and when I called to find out why I was treated rudely and told that we "stole" the house and now we were trying to defraud them with the bank.

Because we were now late they threatened to repo the home and by the way we didn't have insurance (couldn't get it without the repairs) we had to use their insurance. We paid back amount, but I was PO'd about the treatment. We then had a problem and got behind, our bad and we realize that is our fault. Vanderbilt then called and threatened us with jail for fraud, still from the beginning, and then called all of the people on our block. They also called at outrageous hours and into the night. I wouldn't complain about daily calls or normal dunning calls, they are to be expected when you get behind, but this was WAY beyond that.

We filed with the state and the feds about the calls and we heard nothing. My son was supposed to pay the mortgage when we were out of town and he pocketed the money, they wouldn't call us because of the complaint and wouldn't even send us a letter of default. We didn't know until they showed up to repo the home! We paid immediately, and asked to get the direct draft again. They said they would NEVER let us do that again because of our previous fraud (I am REALLY tired of their screw up being used against us). They would allow our employer to send payment to them if we signed that it would be irrevocable.

We couldn't do that because at some point this thing will be paid off, we only had a 12 year note and have been paying on it for nearly 4 years. BTW, we have a notice in our closet that the home was NEVER approved for resale and according to law it had not passed any inspection for habitability and should not have been sold to us. We have spent thousands making the home liveable and getting rid of mold and pet stains and odors. But their methods of doing business make any normal repairs irritating because we now hate our house.

These people are RUDE, nasty, and threatening. They use illegal collection methods and are just beyond ethical. NEVER use Vanderbilt, it is nothing but problems. We were stupid not to get out when we had a chance, but hopefully our story can prevent someone else from the heartache we have had and will have for the next 8-9 years. They have a terrible customer service record. Stay away from this company. I wish we had.

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MARYVILLE, TENNESSEE -- I wish someone would have told me about these people. They are rude, mean, nasty people. My house payment is 13 days late. I call to tell them I was going to make my payment next Friday. They told me to go get the money from family or friends. They also told me to go and pawn some items out my house to get the money. They ask me what other bills I have. Who pays my bills? Are those bills behind too? I told them I had to pay my light bill. She told me that I was not responsible. I should have made my house payment first. She said I need the house to have lights.

They asked me personal question. I asked them is my house in foreclosure already. They keep avoiding my question. By telling me I'm putting my problems on other ppl and that I don't know how to handle my business. I also ask them is that how they talk to people. I only call to make payment arrangements and they made me feel like I was the lowest thing on this earth. These people talk to me as if I was a dog. Something really needs to be done about this company. I'm still shock how these people actually talk to me.

Some of the things I rather not put on here because when I think about it it brings tears to my eyes. They said some mean, rude, nasty things to me. :-( I can't believe they told me to go and reapply for disability for my child. I have been out of work for 3 yrs due 2 my child being ill and going through multiple surgery. He told me I should have been back to work 2 yrs ago. They ask you personal question. You give them the answer and they give you smart remarks. I hope no one else go through what I went through with theses people. I'm deeply hurt by all of this.

They Should Have a Legal Suit Against Them
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

EVANSVILLE, INDIANA -- This company has no morals or empathy for their clients and should be shut down. They have been harassing me and had even gone as far as calling my neighbors, when I don't even have their number. How embarrassing! I have talked to them a lot and they call back in three days to ask the same thing over and over. Yes, I have been late but they have always gotten their money. I always pay them by money gram. These people either get paid a lot or they just don't care.

I myself could not sleep at night knowing I have done that to someone. I sent a money gram and wrote in there, “do not call my neighbors,” they do it anyway. I don't know what law books they are going by but that's harassment and I can get them for that, as anyone else on this page that they are doing this to, can as well.

I had one lady tell me I could not send some money now and then the rest when I get paid. Um...I hate to tell her that's them refusing a payment from me and would not look good in court at all on their part. I think the judge will be a little more understanding to the reason I have been behind since I have been taking care of a dying husband and had to give up my job for a while. He is now in a nursing facilitation, so I can go back to work and having two young kids in the house as well. So, when I go back to work I will have their money before then, we shall see.

I even had one tell me that if I file bankruptcy that I had to include everything. I asked her if she was a lawyer and informed her, yes you can file bankruptcy. It sounds like they need to either clean house our maybe they need to file bankruptcy themselves.

I have a friend that has been in the renting and selling homes for years and I trust him. I called them from his phone one time and now they think they can keep calling his number. No one gave them permission to do that, so be careful everyone if you use someone's phone, they will call it too. They ask me if this is a good contact number and I said no. Again, they are working themselves up to a lawsuit... good luck everyone if anyone what's to take them to court I am game for it.

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Vanderbilt Mortgage Rating:
Star Empty star Empty star Empty star Empty star
1.0 out of 5, based on 8 ratings and
36 reviews & complaints.
Contact Information:
Vanderbilt Mortgage
500 Alcoa Trail
Maryville, TN 37804
865-380-3000 (ph)
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