Vanderbilt Mortgage - Page 2

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1.0 out of 5, based on 8 ratings and
36 reviews & complaints.

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Bloodhounds at work!
By -

MARYVILLE, TENNESSEE -- Please read all reviews on this site and other sites and stay away from them. Our nightmare started in 2007 when we purchased a home from them. They are the most rude people I have ever come into contact with. Back in 2008 I lost my job twice due to a layoff and on the VMF website they do have a section that is called "Foreclosure prevention" so we asked for a deferment and a loan modification due to my financial situation which were denied yet we were asked to pay more each month to get caught up again.

I went from about $3000 per month to 1150 per month as income and the mortgage is $1190 per month. So go figure how I would be able to pay more? I do not want to go through a foreclosure yet these people do not help you out at all. Anyway I was able to get caught up and pay the monies that were owed. Now I did find work yet my income is less than half from what I was making and I had some major bills to pay.

So I asked them to just defer 1 month and of course the answer was NO and I had gotten rude remarks to the extent that my home should be more important than any medical or car issues. Yet if I don't have a car I can not get to work and won't be able to pay anything. I was told to go and find the money somehow to go borrow it.

Just very rude and unprofessional. I know a few people in my neighborhood that have not made payments for close to 1 year on their homes and I don not want to go that route at all but these animals at VMF are driving me crazy. They need to be stopped and they need to be willing to help people out

     
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Ripoff Mortgage Company
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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!

     
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Consumer Reviews Are Good, but CFPB Will Get Results!
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

MARYVILLE, TENNESSEE -- I encourage everyone that has posted your experience with Vanderbilt Mortgage to take one more step and submit a formal complaint to the CFPB http://www.consumerfinance.gov/

Just complaining about it won't change it. If everyone that has had the very same issues with Vanderbilt would send their complaints to the CFPB, then we could see results. Vanderbilt, 21st Mortgage, and Clayton Homes are all owned in part or in full by Berkshire Hathaway. Warren Buffet for those that are wondering. They are the most pathetic excuse of a mortgage and servicing company I have ever dealt with. Let's all send the same complaints to the CFPB that we have posted on other sites and see if we can't get the government to conduct some extensive audits of this companies loan files, phone and email records, collection notices, etc

     
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Fraud
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 adv us to go with a $40,000 double wide. We agreed. When we went to close on the home, the paper work 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 paper work not knowing that this 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.

     
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Worst Mortgage Company Out There: Vanderbilt Mortgage
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MARYVILLE, TENNESSEE -- Vanderbilt Mortgage truly has the worst customer service possible. I agree with the other complaints listed. They call and harass you even if your payment is one day late; even though the statement says you have 10 days. I paid my loan on time for almost 10 years, but when I suffered a lay off during the recession my payment got behind. Every company I owed, even the company who had my auto loan, has been more than helpful and understanding. Vanderbilt representatives, ** are all poor excuses for customer service and management.

I totally understand that they have a job to do; however, they really seem to enjoy getting an attitude and voicing smart remarks. I can see now from reading all the other complaints that they do this with everyone. At one point in time, I really wondered if it was just me. They call and make threats, they lie about being able to assist you if possible, and they lie about what legal action they can take at what time in order to scare you. This has been the worst experience ever. Before my layoff, I had never gotten behind on bills so I didn't know what to do or how to handle it. Needless to say, Vanderbilt made it unbearable.

     
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The worst mortgage company
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MARYVILLE,, TENNESSEE -- I just had to respond to your other reviews... This is the worst company we have ever had to deal with. They get their monthly note, but when you have trouble and call them for extensions or help of any kind you are told in many ways they can't help you. My husband was laid off in Jan. and we have kept up with the notes but when we had trouble and called for an extension we was told no. This company has called us when a note was due, 2 days after and would continue to call everyday 3 to 4 times a day. They have gone as far as finding our home and locating our neighbor and calling him and asking him to give us a message.

I have been yelled at by them, called a liar, told that they didn't care about our problems, just pay it or get out. After a major hurricane hit us (Katrina) and almost took our mobile home this company sat on our insurance money and gave us what they thought we needed as we needed to repair our home. Didn't matter that we was living in the yard in a tent. Not once did they ever ask if we needed help or was there anything they could do... Their only concern was their payment. They call and they call and they call... There has to be something that can be done to companies like this one. DO NOT USE THIS COMPANY. YOU WILL REGRET IT IF YOU DO.

     
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Horrible
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TENNESSEE -- Vanderbilt mortgage is a big joke. The reps are so rude. They have not once offered to help us in the last 6 yrs. They don't care about anyone falling on hard times unless of course it is one of them. They have been a nightmare to us. Do you know that if you are late but pay before end of month, they tack on the next month before it is actually due? That is how they get you at the 90 day period. I consulted any attorney, this is illegal, I have taken pics of my online statement from VMC website. I am not playing with these people anymore! Fight fire with fire.

     
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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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Unprofessional Company
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My husband and I bought our home from Clayton Homes, AKA Vanderbilt Mortgage, in October 2008. Since that time, we have paid a lot into our home. Our issue with them is that they are extremely rude, almost to the point of making demands and threats of foreclosing taking our home. We have been behind on our payments, and we know that we owe the payments to them. However we have tried hard to stay up to date. We had to file chapter 13 about a year ago in an attempt to save our home. We made a decision to drop our chapter 13 and pay Vanderbilt, around $7000 on our loan, in one large payment. Our tax refund paid them. Well everything went good for a while and they raised our payments.

What was a fixed rate they changed to an adjustable rate which raised our payment from $805 to around $1000. So we had to spend $1295 to hire a legal firm who does loan modifications. Well Vanderbilt did agree to a 6 month modification, but we have had a hard time with the payments. As of now we are one month behind. Needless to say, they are being demanding and hateful again as the 6 months ends soon. I know they are entitled to their money but they need to realize that folks are having money problems in this modern age. They need to be more helpful in finding workable solutions with their customers, and do less complaining.

     
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Vanderbilt Mortgage and liaison American Bankers Insurance Company of Florida
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MIAMI, FLORIDA -- This is a WARNING to any and everyone that is considering starting any transacting business with Vanderbilt Mortgage. If you purchase a home with them and use American Bankers Insurance Company of Florida for your homeowner's insurance company... they will never, ever help you with damages to your home. I mean NOTHING is covered under their so called plans. They are such rip-offs!!!

I have been paying anywhere from $340-$450 every year for the insurance and I started in 1997. I have damage to my master bathroom, and my main bath, and I've never used the insurance and they denied me both claims. Also my water heater went out a couple of years ago... They wouldn't cover that either. They left me in a holy mess.

First of all to be living in a mobile home is for people like myself that don't make a lot of money. I feel like they try to act like they want to help you, and then pull you in don't tell you everything at the time of purchase which is why you should make sure you do all of your research before dealing with them altogether. I did read the information given to me by them but I am just going to be honest. I didn't understand how the insurance worked. Please be careful when dealing with these folks, they are heartless big time!!!

     
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