Vanderbilt Mortgage - UNETHICAL COMPANY Complaint - UNETHICAL PRACTICES
I was introduced to Vanderbilt by default after my father passed away and I was the executor of his estate. He had financed a mobile home through this company many years ago. A year after my father’s death and after 2 people were turned down to assume the loan, something had to be done. My Dad’s money had depleted and Vanderbilt suggested to “surrender” the mobile home. After some time, there was no other option. I made sure that I would not be held liable for anything and that the land was not attached to the loan. Two days after the voluntary surrender papers were signed, I found someone who wanted to buy the mobile home along with the 3 ½ acres it was sitting on. I contacted Vanderbilt to have this paper retracted, in which they informed me that it was too late. In the meantime, this person applied to assume the loan with Vanderbilt. Needless to say, he was denied as well. Plan B was to get a loan through a local bank. The banker informed Vanderbilt that the loan was being processed and that it was just a matter of time. 2-3 weeks in the loan process, I get a phone call from someone who was in the negotiating process to buy the mobile home in a “private” sale. That transaction was complete the next day.
To make a long story short, it has come to my attention that Vanderbilt had put a lien on my father’s land a month after his death. I received NO notice of this lien. After talking with a couple of lawyers and some investigating, we found out that this “wonderful” company sold my father’s mobile home for 11,000 in the so-called “private” sale and is suing the estate for the remainder (well over $10,000). There definitely has been some underhanded stuff going on here. They took advantage of a death went about it all wrong.
In closing, I highly recommend to steer clear of Vanderbilt Mortgage. If you look at the other reviews, you will find that they have very poor customer service. I found that to be the case with me as well. You will NEVER talk with the same person twice. There is no form of communication among the CSR’s, so you have to explain the situation each time you call. They are incompetent, rude, threatening, and just beyond ethical.