TN, NORTH CAROLINA -- Purchased home and land in November 2018 in Tn, for 54000.00. Paid my mortgage early for 10 months then find out the land they sold me belonged to farmer down the road so Vanderbilt refunds most of down payment and I move back to NC. Before I signed back the home on September 27th 2019 I took a screen shot of my mortgage info online and it showed I had 889.80 in escrow. Vanderbilt claims I had a zero balance in escrow. Take a look at my annual escrow statement and see how they reversed my payments and then paid for taxes and insurance a month after I signed back the home. These folks should be in hand cuffs. I am in search of a lawyer who wants to take my case and hurt these criminals the most...in their pockets.
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.
MARYVILLE, TENNESSEE -- My husband and I been with this company for 11 yrs and due to heath issues we were unable to keep up our house payments. Vanderbilt worked with us in easing this burden by putting a payment on the back end of our loan. Because of this we are currently up to date and not worried about payments that were not made. Thanks to Vanderbilt we are able to have a peace of mind and continue focusing on healing.
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.
FAYETTEVILLE, NORTH CAROLINA -- Eleven years ago, my husband and I bought a mobile home. The military stationed my family in a new location and the wait for base housing was long. Purchasing a mobile home was cheaper than renting. At Clayton Mobile Home, the sales lady assured us that we could not get a VA approved loan for a mobile home. We believed her. She told us she'd put the representative from Vanderbilt on the phone with us and we could discuss the matter with him.
The Vanderbilt representative assured us again that VA does not cover mobile home loans. Stupidly we believed him. Because we thought we couldn't get a VA loan we signed paperwork saying that we realized we could shop around but what was the point if we couldn't get a VA approved loan?
Fast forward eleven years and multiple additional problems with Vanderbilt. We started looking for a new home and were told by our first realtor that VA does approve mobile homes. Because we trusted Vanderbilt and Clayton Mobile Homes, we decided she must be dishonest and used a different realtor. It was only after our neighbor informed us that she'd gotten a VA loan for a similar size mobile home that we realized both Vanderbilt and Clayton lied to us.
Later when my husband retired from Air Force in 2009, he had trouble finding a new job. We tried to work something out with Vanderbilt. The company refused. They asked for a list of our bills and told us we could pay our mortgage if we didn't budget for food. Luckily, our economic problems were short lived but still traumatic. Don't expect Vanderbilt to help you or be honest with you.
If you have had problems with Vanderbilt complain to the Consumer Financial Protection Bureau. Vanderbilt will not acknowledge any wrongdoings and the CFPB will close the case; however, you have the option to respond to their decision. If enough people complain than the Federal Trade Commission and CFPB could bring legal action against Vanderbilt. This would protect soldiers and veterans.
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!!!
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!
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.
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!
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!