Vanderbilt Mortgage
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Vanderbilt Mortgage

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Consumer Complaints and Reviews

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I have to agree with everyone, they are rude. I was late on a payment and called them. They threatened me with foreclosure for being 45 days late. I have never been so disrespected. After how they treated me I reported them to the BBB. I had a rep from VMF call and she said the customer service agent might have been having a bad day. REALLY? So that allows you to talk to people like they are trash. NO!

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Spent three months with this company trying three separate times to get a loan finalized, meaning of course every time I was preapproved and got hear "CONGRATULATIONS. JUST A LITTLE MORE INFO PLEASE." The day before Thanksgiving, I got the worst call, "Sorry we denied you." Wow Lizabeth at Vanderbilt may Karma bless you.

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I would like to share my experience with everyone about Vanderbilt Mortgage and Finance. In an attempt to see if anyone else has experienced the same or similar issues. In August 2001 I received a loan for $62,000.00. Since then I have paid over ($120,000.00) on this loan with a balance of over ($54,000.00) I still owe on the original 62,000.00 I borrowed. Throughout the years Vanderbilt has made me promises to refinance at a lower rate; even saying they would consider the fair market value of the home which is $17,000.00.

They have strung me along with verbal promises to then just file in the court to reprocess the home and collect the full amount of the loan. When I asked them how long it would take them to remove the home, they refuse to give a time frame and called all agreements off. If anyone has similar experiences and would like to join me to attempt a Class Action Lawsuit. Please contact me via email at **.

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As a single parent, night bought my first and only home from Vanderbilt in 2002. I was very inexperienced in this situation and have never regretted anything so much in my life. They took advantage of my eagerness to provide for my family to make this sale. I did a land in lieu of a down payment. My stepfather had land that had been in his family for generations and they convinced me to get him to sign 20 acres over to me to use for down payment. They relied heavily on my child support in order to approve me along with my income. I have had my home for 14 years and still owe over 36,000 on a 64,000 home. My payments have gone up over a $100 and I have struggled to make my payments for several years. Every year or so my payments go up "due to insurance increases". I have literally begged this company to help me but they tell me to have my phone or cable turned off, lower my grocery bills or borrow the money.

I lost my medical insurance because I chose to try and save my home. My stepfather is almost 80 years old and it would kill him if I lost this land. I struggle so hard to make my house payment and pay other bills on my $9.00 an hour salary. If it were only the home I would let it go in a heart beat but it's the land I can't lose. I have never received any type of assistance from the government. I have raised 3 children and now I am again facing foreclosure on my home. I constantly receive harassing and threatening phone calls. The company tells me I should just go ahead and sign my home and land over to them. Because I pay late every month, normally less than 30 days late, but still late. I am trying so hard to survive. If there is anyone that can share any possible options, please share with me.

14 people found this review helpful

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From the very beginning, the people that we worked with were polite and friendly and the loan process was surprisingly easy. We are first time buyers and didn't know what it would be like to get this big of loan. We were so excited when we got approved and Vanderbilt was obviously the best choice. Collin was super nice and asked me if I would like to tell my story.

5 people found this review helpful

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I don't have a loan or have ever hear of Vanderbilt until I came home from work and the moving company they hired to move the neighbor repo home had driven all across my yard. They may have a phone to hoarse you, but they won't answer your calls. DO NOT USE THIS COMPANY.

8 people found this review helpful

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Homes was repossessed and the home is still on my property. We have been through court and my family have moved and have not removed the home from my personal property. My rate was 10.99. I need to know what can I take to get the home off of my property. I live in Gadsden County, Florida.

6 people found this review helpful

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I wish I had never heard of Vanderbilt Mortgage. I got afraid to answer the phone or open the mailbox. They are worse than loan sharks. I am doing a reverse mortgage because of them. I have a registered letter waiting on me at post office from them and I am afraid they will try to foreclose on me before we finish up. Then what do I do?

11 people found this review helpful

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I became delinquent on my mortgage. I paid and caught up I thought. Not by them. My records showed that I had. They added fees that unbelievable. While on the phone, I was told, "You people are always late and do not like to pay your bills." I asked "What people or you referring to?" Black people always have an excuse! What is your income! I hung up the phone and will not answer them. My stress level was so high that my blood pressure increased to the point of numbness around my mouth. Those folks are horrible.

32 people found this review helpful

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I've had an account with them for 14 years. Last year I hit a rough patch and ended up a month behind. They called me multiple times a day and told me to borrow money from friends and family. They are so rude that at Christmas when money was very tight they told me I should not buy any presents for my children and tell them that their present was our house! Also if you can't afford homeowners insurance they tell you "Don't worry about we will get you a "policy" through our company" but when I needed some repairs to my home I was told that the "insurance" only covers my loan to them so they are insured and I am not. Do yourself a favor and run the other way if they offer you a loan.

27 people found this review helpful

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The absolute worst company I have ever dealt with!!! Their customer service people are rude and they will not work with you in any way. My husband and I purchased home in 1999. He passed away in 2004 and they will not remove his name from the loan and put it in my name (I am still paying the mortgage)!! They have harassed me almost daily from the day my husband passed!!! PLEASE DON'T EVER USE THIS COMPANY!!! YOU WILL NEVER GET ANY PEACE!!!

26 people found this review helpful

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Our home loan was taken over by Vanderbilt a little over a year ago. Since then, they failed to pay the taxes on the house. The only way we found out is that we took out a loan for home improvement and our Credit Union informed us of it. After fighting with them on the phone, they finally paid the taxes and thankfully our credit wasn't dinged. Along with this, they've raised our escrow fees not once but twice. The second time was almost $100 a month claiming a "possible" escrow shortfall throughout the year. Our taxes on the house only went up about $50 for the year. So technically they're overcharging us by about $700 this year alone. We'll be dumping this so called mortgage company as soon as we can.

31 people found this review helpful

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I was trying to purchase a home, was never treated so rudely. I had the money and was going to buy off their website because I am homeless as of right now which I told the salesperson I was having trouble finding a mover so they put theirs in touch with me. He was to go look at my land where it was going and because their mover lied and said he could not put a mobile home on my land they sold it right out from under me with a buyer's order signed. Besides that my land is perfectly flat and straight up the road into my property and by the way is a mobile home development. My lot is 2 1/4 acres.

Must be a bad mover not to be able to get a home on that and I am still homeless. There is none for sale out here and that one was the closest to my land. Now I have no one to buy from. My son bought an average double wide from them. It came out to 250000 dollars. They have tried to refinance it to lower their payment and they won't let them. They set people up to fail. Come on mobile homes are for people who can't afford built homes and you set them up for failure. When is someone going to do something about them?

20 people found this review helpful

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These people are very rude. My husband was injured in his job and out of work about three months now. I was trying to work out a way to pay but they didn't want to hear it. So I've been keeping in touch to let them know his process and paying something but they call every day and very very rude and ask where we get money from.

19 people found this review helpful

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I have had the misfortune of dealing with Vanderbilt Mortgage for several years. I am not a wealthy person and struggle to pay my obligations but I do pay. Three months ago, Vanderbilt tacked an advancement charge onto my account claiming that a delinquent tax payment had been made to protect the property from tax sale. I repeatedly informed them that there were no delinquent taxes owing on my property. They insist that the payment was made but do not have a bill to show the delinquent tax. Do they expect me to believe that they decided that taxes were delinquent and paid them without a bill to substantiate the charge and further that they did not retain records of the payment and that I had to get it from the tax office.

The County Tax Office reviewed my account back to 1999 and they have NO record of Vanderbilt Mortgage ever making payment to my account. Vanderbilt Mortgage be desperate for revenue so they apply bogus charges to accounts. Fellow consumers, you have my sympathy if you have an account with Vanderbilt Mortgage and please remember to check your statements carefully.

23 people found this review helpful

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My mortgage was recently sold to Vanderbilt. In all of my years of working with mortgage companies, I have NEVER been treated so poorly. Vanderbilt adjusted (increased) my escrow account and failed to notify me. I sent my mortgage payment as specified for the monthly amount. Vanderbilt sent me a letter 31 DAYS LATER telling me that I was short on my escrow.

I paid the difference over the phone the minute I received the letter. Although THEY FAILED to notify me about my escrow increase, they still reported me late to the credit bureau. They claim to have called and mailed me letters but I NEVER RECEIVED ANYTHING UNTIL THE 31ST DAY! So, I am taking this opportunity to warn future customers to take your business to Wells Fargo or another mortgage company that has compassion and better communication with their customers!!! In my opinion, VANDERBILT IS HEARTLESS AND UNPROFESSIONAL!

24 people found this review helpful

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My nightmare started in Oct 2007 when I found out about the dirty deal that vanderbilt and Clayton homes did with my mother. They gave her a loan in my name without my permission and that's when this nightmare started. I found out about this home when she didn't want it anymore. I am forced to live in this mold infected dump until it's paid for. Please be careful and mindful of these two money hunger companies. They will do anything for money.

18 people found this review helpful

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My husband and I went in to buy a home at Clayton Mobile homes of Wilmington NC and believe me, I wish I had walked right back out. It started with friendliness and handshaking. $3400 down on a brand new home, THEN it was FHA would not finance us because of a hospital bill so we were pushed to go with Vanderbilt, the bank owned by Warren Buffett and his little minions are from hell.

When all was said and done, we had put $13,000.00 down on a single wide mobile home. We had to pay off extra debt at $6,000.00 and stay in a motel for six weeks because they kept pushing the delivery date. When we finally got the okay to move in, we were pulled to the side and was told we owed one of the guys $150.00 for something. Also we were told we owed someone $1,500.00 that help us out. We were in so deep and when we asked to back out, they threatened us with a lawsuit. Now we are a month behind because my husband lost his job and we are trying to pay all these debts.

The worst part is, I called Vanderbilt to try and figure out a solution to being a month behind and I was told that I was irresponsible and for me to give "Brittany" a detailed list of where our check went. I was treated like dirt and told that I was "stupid and irresponsible" and I should "know better" than to get a month behind.

Yesterday we found out that Vanderbilt, Clayton and Buffet are under fire for treating and cheating poor minorities wrong and steering them to HIS bank. They supposedly targeted blacks and Indians. It's not just them, it's lower income whites also like me and my husband. I wish so much that we had bought a house instead of going through what we did.

34 people found this review helpful

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We purchased a home in 2010 from Clayton Homes and used Vanderbilt Mortgage as our lender. One month after closing I was laid off as a nurse. We got behind but caught back up. In 2012, my husband was laid off. We got behind again but caught back up. In 2013 after paying on our home for 3 years our home caught fire. The insurance investigation ruled it electrical and found Clayton Homes liable. We received $110,000.00 to pay our home off.

Our original loan was for a little over $106,000.00. We sent the $110,000.00 to Vanderbilt and they sent us a notice that we owe $3,000.00 more dollars. Please do the math. $106,000.00 loan paid on for 3 years. $110,000.00 sent to the company and yet we still owed $3,000.00!!! We were outraged! Not only was the fire not our fault in any way, now the money that we have to start over is being taken from us and then some. I wouldn't recommend Clayton Homes nor Vanderbilt mortgage to my worst enemy. They are thieves and deserve to be out of business for their shady loan practices.

20 people found this review helpful

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First off I just want to thank everyone for posting their reviews. This has really helped me. My husband and I just got approved for a loan on a repo and we were on our way to go look at the place. So I found myself on this site as we were on our way up there. All the reviews on here are basically about the same thing. Harassment, rudeness, cold-hearted and the worst one taking advantage of people by taking more money and more money every time. I feel bad for you guys. I hope and pray something gets done about this cause this is so wrong.

It makes me wonder if those homes ever get paid off. Cause it sounds like to me they just keep draining as much as they can off ya. But yes thank y'all so so much. Vanderbilt is not the place to go!! The place we were going for was actually priced at 69,900 but after the interest rate it'll we added it all up. It'll end up cost us 188,624 on a 2012 3 bd. 2 bath double wide with an acre of land. That's ridiculous!! Hope things get better for you all and y'all be in my prayers.

20 people found this review helpful

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My husband bought a mobile home and financed it with Vanderbilt in 2004 for 30,000. We lived in the mobile home and made monthly payments. My husband passed away and I called to get a payoff on the account and was told 15,000. Then 6 months later was told 18,000. Then another 6 months later they told me 24,000. I told them to come and get it. I let them repo it. They finally moved it in Oct. 2015. I do not understand why I got such a huge price difference. And the company they had move it stole $2500 in tools that were on the property as well as damaging my field lines for septic and running over the water well and damaging a branch and the driveway. And now no one wants to reimburse me for damages.

15 people found this review helpful

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My wife and I started out in a little 16x80 trailer house on our own land in 2002. In 2010 our family had outgrown this house and I felt for our safety in the house due to its age. Our credit was not the best so a traditional bank mortgage was out of the question. That's when we found Clayton Homes of Oklahoma City. "Everyone's approved! Just put up 2 acres of land as collateral and we can help you obtain your dreams!" So we went on a Sunday afternoon while they was closed to kinda look around and found a home that we loved and would be big enough that the kids would each have their own room. We settled on a price for the house. The original price was 79,000. After negotiations, we agreed on 68,000 and some change.

Then after everything was said and done they had charged us $10,000 in closing fees! After they told us that our mortgage was a fixed rate mortgage, they increased our monthly payments $50. We started out paying $664 a month and as of our last payment, we are up to $820 a month. At our salaries with 4 kids in school, that is about 1/3 of our monthly income and it is killing us. We have been behind ever since the last rate change and have been threatened multiple times.

I am currently in the process of investigating predatory lending and if we qualify for a lawsuit. Vanderbilt has ground our credit down so low that we can't go through anybody else and are stuck with this piece of garbage that the siding is falling off of and the house is trying to separate. Vanderbilt makes their money off of repo sales. That's right. After they have hiked the monthly payment up until you cannot afford it they foreclose on you and then sell your property for more than they have in it and still try to stick you with a portion of the mortgage. Stay away from this company, Clayton homes, or anybody who does business with Vanderbilt. They are frauds.

28 people found this review helpful

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We bought our home in 2006 with a down payment of 15000.00. We've had nothing but issues with the home. I've always sent a bigger payment & found out it goes into an account until a full payment is achieved before they apply it to loan. The other day I called after learning that our home had 4 forms of mold in it - found after they discovered I had mold in my body. We had to stay in a hotel as the home was no longer safe for me to stay in. I called Vanderbilt telling them about the situation and that homeowners insurance wasn't going to cover it. Of course the insurance is owned by Vanderbilt. Vanderbilt told me to sell everything we own to fix it and make the payment. I said, "Why don't you show a little compassion," and that reviews I had read were right. He said it wasn't their job to care, and that their job is to collect their money. They called our neighbors to get a hold of us and came to our home.

I still owe 11,700 dollars and have owned it for 9 years. Now let's do the math. The home was 38,000 minus 15,000 (down payment) equals $23000 financed. Now my payments are $370 a month but I've always sent $400. That's $4800 a year. Now I've paid $43,200 so far and still owe $11,700. Grand total of $54,900 on a $23,000 loan. They rip people off. If you hear the name Vanderbilt Mortgage run the other way!

28 people found this review helpful

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I HATE Them! They are the worst, did I say the worst, group of unprofessional, uncaring, don't give a care group of people I have ever seen. From the beginning it was something with them. Nasty Nasty Nasty. I had to call the head of the housing people to get them to come out and fix things that was wrong. Now 7 years later... they are as nasty as they were back then. They don't care about any other bills that you have, if you have a family that needs your support, or if something happens that you need to have some time to make your payment. If you can stay away from them PLEASE do!!! I wouldn't even give them a one star if I did not have to rate them... They need to be sued and have to refund people. They are nasty. I understand you got a loan from them and it's your place to pay, but where does working with the customers come in at? Care about something!!!

24 people found this review helpful

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My experience with Vanderbilt is disgraceful! After a house fire my in-laws were forced to go to Clayton Mobile homes. They were eagerly to help and even prayed over my mother in law since she had stage 3 breast cancer. Vanderbilt approved them for a loan that was supposed to be $469 a month. Everything was fine for 2 months then my mother in law passed. When Vanderbilt found out that my father in law had lost half his income they requested he start making 2 payments a month of 469! That way his account would never go to collections. Since he is disabled and on a limited income this is not possible.

I called Vanderbilt and tried to explain but the lady was so rude and started fighting back. She told us that if we can't afford 2 payments a month then they will take the trailer back! So thanks to them being horrible my father in law is now moving out and will be renting instead. This is a scam company everyone needs to stay away from!

20 people found this review helpful

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These people are the rudest people on the planet!!! They don't care about financial hardships that everyone has sometime in your life. They start calling you and your family members the first day you're late. I don't know who trains these people but they should be horsewhipped!!!

19 people found this review helpful

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My payments keep increasing and are now over half of what my social security check is. They refinanced my loan without my knowing and I now owe $138,000.00 on a $35,000.00 mobile home. Can't even file bankruptcy because I have nowhere else to go. Is there anyone that can help?

12 people found this review helpful

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We were originally approved for a loan which required 15% down payment. If I could afford 15%, I could afford a stick-built home. So we find a home for a lower price and they said we could put 10% down for the home only package. Our sales representative told us to do the land separately and find owner finance and Clayton Homes would add the well and septic into the loan. So we put our 10% down on the home. After Clayton Homes received our down payment, they informed us they would not be able to add the well and septic due to the type of loan, the home-only loan. So we ask that they add us to a home/land package, which is what we were looking for initially.

Vanderbilt came back with putting 15% down once again. Frustrated, I was searching the VMF website and found a foreclosure at which I asked if we could apply for. This time Vanderbilt approved us, but get this...we would have to put 25,000.00 down. Once again if I have that much money, I wouldn't need a mobile home. Not to mention the sales representative told us foreclosure homes only require 10% down. The price of the home is 89,900, you do the math. This company, in my opinion, takes advantage of people who have credit problems and those who may not completely understand the buying process. It disgust me that people can take advantage of less fortunate individuals. Rather than helping, they are making it almost impossible to be a homeowner.

27 people found this review helpful

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I am so sorry that I ever started to do business with these people. They are rude, heartless, arrogant **. I'm sure that everybody has their ups and downs as we go through our lives. People hit hard times and need time to recover. I recently went through a divorce in which hit me pretty hard financially. I tried explaining my situation to these people and they had the audacity to suggest that I take in a boarder, have a yard sale, cut back on groceries, go to beg at a church, etc.

I have 3 kids to take care of and really do the best that I can. It's almost like they have never experienced going through a rough patch. These are not human beings, these people have no hearts and no souls. They insist that you send them a payment even after you've explained to them what's going on in your life at that moment. They constantly harass you day in and day out even after you've told them not to call your job. Something really has to be done about this company. There is only so much we can take or should have to take from these fools.

26 people found this review helpful

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They harass and lie to us. I have had my home for almost 12 years. They cheated me on my home owner's insurance and lied about it. I missed one payment and the idiot that handles my account is threatening me with foreclosure. The property it is on was mine and I will be damned if they get it. I get this place sold, I am going to take a cashier's check to Vanderbilt and throw it in his stupid face.

15 people found this review helpful

Vanderbilt Mortgage Company Profile

Company Name:
Vanderbilt Mortgage
Address:
PO Box 9800
City:
Maryville
State/Province:
TN
Postal Code:
37802
Country:
United States
Phone:
Website:
https://www.vmf.com/