About Vanderbilt Mortgage
Vanderbilt Mortgage and Finance (NMLS #1561) is a national housing lender that operates under the umbrella of Berkshire Hathaway. It specializes in financing both new and used manufactured, mobile and modular homes. Vanderbilt also finances improvements for these types of homes, including energy-efficient upgrades.
Overall Satisfaction Rating
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- Direct lending for used home purchases
- Accommodates borrowers with lower credit scores
- Numerous payment options
- Home improvement loans with zero down
- No home equity loans or HELOCs
- No in-person branches
Vanderbilt Mortgage is a national lender helping people finance the purchase of new and used manufactured, mobile and modular homes. It works with all types of borrowers, including those without great credit. A loan specialist helps walk you through the application.
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I feel someone need to investigate Vanderbilt Mortgage. They rip people off and they talk to them like dirt and they threaten people with their home they won’t modify anyone loans. You can’t see any of your information on your account plus I had paid $97,000.00 on my home. I been paying on it since 2005 and they are saying I still owe $90,000.00 How is that can someone put a class action suit against them. I will sign.
I am very scared that Vanderbuilt Mortgage is not being honest about my payoff amount. I purchased this mobile home in 1997 for $27462.95. It is now 2010 and they are telling me that I still owe $18000. That is telling me that I have only paid $9462 on my account. That is not true. My payments have been as much as $365 dollars a month, now it is $335 per month. I tried to go and look at what is actually happening to my account online and of course it only provides certain details not everything.
I feel like everything should be posted when it comes to the break down of my account. Also, the insurance that I've had on this mobile home for as long as I've had it does not cover anything at all. It wouldn't even cover the hot water heater when it went out. I tried to contact them at their email address from their website and I was unable to because it's not up and running which is strange because they have been in business for a long time. I mean I don't have a problem calling them but there are so many things I think is wrong with this company that I think they should be investigated. I don't think they need to know when they are going to be investigated because I saw something on their website that states Notice:
Please read this Legal Disclaimer:
Information on this web site is provided "as is" without either express or implied warranty and although it is believed accurate at time of posting, there may be some inaccurate, and/or out-of-date material. Vanderbilt Mortgage and Finance, Inc. may make improvements and/or changes in products and services at anytime without notice.
Vanderbilt Mortgage and Finance, Inc. makes no representations as to material found on Web Sites published by others which may be accessed through this site. Such information could be inaccurate, contain viruses, and present other problems for the user. Vanderbilt Mortgage and Finance, Inc. will not be responsible even if notice of such had been received.
This scares the heck out of me and especially since I have questions with how they are handling my account. Please help me. I would just like to make sure they aren't over charging me. I've also noticed that there are a lot of complaints against them from consumers. I am not behind in my payments, but I would surely like to know if they are keeping something from me. The physical damage is I am worried about having an account with this company.
This has to do with two companies, the one above and Vanderbilt Mortgage Company Customer Service Vanderbilt Mortgage and Finance Inc, Alcoa Trail Maryville, TN 37804. Now starting with one thing on Vanderbilt, their Customer Service Office is in Maryville, TN. Loan payment on back of statement you, send them to PO Box 742xxx Cincinnati Oh 45274 (Wrong). The slip that you send in with the payment on the front side goes to Dallas, TX. This company has the worst Customer service I have ever came across and I have seen some bad ones. Vanderbilt Mortgage on January 16th 2009, one insurance company they had on my trailer stopped on January 16th 2009. The same day I took out with another Insurance for insurance to protect me as well as them.
Well, on January 16th 2009, the insurance that Vanderbilt had was no longer. I have the documents of it ending on that date and I sent to them 4 times, the new insurance company by fax and by mail 4 times. Vanderbilt mean while advanced me money for and insurance company that wasn't there I had the cancel information in my hand. I have called them, wrote them 4 times + about where the money was going where there wasn't anything to go to. So I sent the new companies information right away, so they keep paying on something that wasn't there.
So what was going on with Vanderbilt, I had to pay for two Insurance company for over 4 months. Well, over $200.00 and because I held back on sending them for the insurance that wasn't there, they kept putting my payment in to a un-app account and charging me a late fee on top of that. I'm getting to end of my ropes with getting ripped off with insurance. They also got me when I purchase the trailer for $500.00 of insurance I didn't even need. Now comes to Assurant Group on 02/18/2010. They sent a letter to Vanderbilt, watch dogs that my insurance was cancelled for non payment.
On 02/23/2010, 5 days later when I became aware there was a payment that was over due, I paid two payments and was reinstated. Well, Assurant sure can send the information of the insurance being cancelled but when it comes to the reinstatement is a different matter and they didn't do so. I sent in the information to Vanderbilt about the reinstatement and everything, so since 02/18/2010 Vanderbilt advanced me again and I'm paying for 2 insurance companies. Again $52.00 per month and I'm not even cover for my part. And they put things on there that I don't even need. No matter what you do Vanderbilt will not write back when it comes to them returning of money but when it comes to them needing money it has to be right now.
When you contact them by phone either they can't find anything or they don't know how to do it. They pass it off on someone else. Well, they better soon because if this doesn't work I'm very good in court. I was an Apartment manager for 8.5 years and did 150 cases myself and came out a winner on everyone. I don't think I should be the one footing the bill again because of the reinstatement information and Vanderbilt doing whatever they please. Thank You.
I refinanced a home in 2006. The original mortgage company sold it to Vander in 2008. The first company sent me the title to my home with no lien holder in 2009. Due to the fact the first company did a land only loan, Vander is now telling me that the other company just messed up and that they have all right to my home. This does not make any sense to me. They have raised my payments from $889 to $1200. I recently lost my job and they will not do a loan modification or try to help us at all. Not only did I loss my job but my husband died in 2006 and I lost all of his income as well. Vander calls everyday wanting the title. If they are actually legally entitled to them, why are they not filing for a duplicate instead of harassing me?
Vanderbilt Mortgage bought my loan out about 2 and half years ago and can't provide any documentation that they bought the loan out and can not provide a new title with their name on it. I had gotten laid off work and got a little behind not being the first time and always got caught back up but this time they have refused payment because that it is less then 100.00 short which could be sent in another week and because it was put in the mail and not paid straight out of my checking account.
They have refused to work with me. They have called my moms neighbors which live 15 miles away and given out information about me that is private. They have broken into my checking account and if my girlfriend (who is not on the loan) answers the phone they threaten her and ask her personal stuff about herself. She has sent them a certified letter before telling them that if they don't stop harassing her she would press charges.
They will not even give me the option to sell. They were supposed to go by the original contract, that states I can miss one payment a year and it will be put toward the end of the loan, they will not honor it and they charge me $30.00 a month in late fees and my contract states that if I'm late, the charge is never over $5.00 a month. They call at all hours of the day and night. I have told them that I have recently went back to work, they still refuse to work with me. Beware of this company. We are going to hire an attorney just for the harassment charges. Mental stress to my girlfriend and myself and my family.
Recently, well, beginning in 06, Vandy began raising my monthly payments without provocation or documentation. They refused to provide me with paperwork providing the proof of these increases. One day, it would be escrow, the next day, insurance and the next day, property tax. I continued paying these odd increases for a year without any help or documentation from them. Every week, it would change or they would need additional. They were calling my home, neighbors I don't even know, my employment, threatening foreclosure and the like.
Well, in June, I had about had it. This began in Dec. so I made my reg. monthly payment. They accepted it, put it into some kind of overage acct. and began foreclosure. So I said, "Come and get it you low down cheating, stealing home wreckers!" Well, I'm still at it, and through the litigation process, they cannot provide any paperwork on my mortgage. They did, however, provide forged state documents and two HUD statements with payoffs to different people, hmm. I have gotten nowhere with gov. entities, state, or county. My loan is about 30 thousand dollars more than it was in 1998 and my principal balance increased in 2002 by $99,855.This was made apparent to me by Vanderbilt through a payment history they provided during litigation. They can't explain it. "It's a computer error," they say.
For 4 years, they had a computer error? Get real! I'm fixing to lose everything, and I know I bit off my nose to spite my face, but all the while, I've not wanted anything but the truth, and for Vanderbilt to be exposed ... until recently when they got me in court on a technicality because I didn't ask for anything.
Well, good luck to everyone involved with Vanderbilt. I hope that maybe someone will listen somewhere, God speed. It all began in l998 with the financing of an illegal dump by Vanderbilt and the mobile home that I ordered not being what I ordered, and my statements that never came, and the missing money, and the list goes on...
In December 2008 I purchased a Double wide home from Luv Homes in Fletcher North Carolina. I was told that the interest rate would be around 6%. They were never able to provide me with any paperwork before closing. At closing the interest rate jumped to 11%. They insisted that it was only because I was a first time home buyer. They stated that they were doing a bridge loan and would refi the loan in 3 months. I have been trying to refi the loan for 7 months now. No one will refi the loan. Vanderbilt will not work with me at all. They have stated that they stopped modifying loans because of the economy. They have stated that there is no grace period on my loan and they cannot defer a payment. This mortgage company needs to be shut down. They talk to the customers like they are nothing and will not do anything to help. I am not able to continue paying the payment due to the 11% interest rate.
Vanderbilt mortgage company keeps calling me with harrassing calls for a mortgage account that belongs to my cousin. I do not have any affiliation with this loan, do not even live in the same state. I ask them how they got my cell phone number and they said maybe someone gave it to them. This is not possible. I have asked them to take me off the contact list and I still receive calls but it is just with different operators. I get a phone call about once a month!! Sometimes 2 to 3 times a day. This is ridiculous!! I really need some help on this matter!!
Approximately 10 years ago, our son Steve purchased a double wide permanent site "mobile" home. For the last several years, if they are as much as two days late with their monthly payment, not only have we been harassed by their phone calls, but also our other two sons; and now recently, at least two of our neighbors. Steve and Kim's neighbors have received phone calls also.
I contacted them, and as of May 22, 2009, they removed our phone number from the case file. This still did not prevent them in again contacting another of our neighbors. I called again and was told there was no way to prevent them from continuing this practice. The supervisor "Diego" told me that each person contacted must in turn request that they not be called in the future. In my mind, this is pure harassment! We live in Ohio, and our son and his family live in Michigan. Our neighbors don't even know Steve and his family!
Many people call us for being 1 payment behind on our morgage. Ms. Amanda Moram has made suggestions to do a yard sale, go to a church for help, cancel our internet/land line/tv package and our cell phnoe and whatever that we have to sell to make our behind payment. We have tried to deferr our payment and they have denied it and we have also worked with a gentleman to pay extra for 4 months to catch up but someone said he wasn't in their department and couldn't do that. We have tried to work with these people and they DO NOT WANT TO HELP US. They call 3 ot 6 times a day. We are to the point we don't want to answer the phone anymore. Maybe I should get rid of the phones so they can't call us, NOT. All this for just being one month behind and we have been one month behind before and have caught up. They don't give you chances or want to help. What kind of people are they if even they have options listed on their web site to avoid forclosures. This is phone harassment.
We purchased a mobile home in 2001, from Clayton Homes. The mortgage company is Vanderbilt. We financed the amount of $33.991.34. We agreed to do the biweekly payments. As of July 2008, the pay off was around $24,000.00. Something just don't add up. The interest rate was 10.99%. We have been paying for 7 years and have only paid about $10,000. I had an uncle that had taken this and was looking further into. They told him there was nothing that could be done. So he has advised me to turn it over to you all.
I feel as if we are owed some money back. We have since sold the mobile home, and had to pay $10,000 out of pocket to get it paid off. I would greatly appreciate anything that could be done.
I received an "Annual Escrow Analysis" statement from Vanderbilt in June 2008 and a letter stating Vanderbilt had not yet received a current copy of my insuranc policy or declaration page showing my home was insured. On the escrow statement it states my principal/interest payment being 620.74 and my escrow payment of 75.11 making my total monthly of 695.85. I paid the 695.85 from Aug 07-Jul 08. Also on the escrow statement was projected escrow amount of 113.37 for Aug 08-Jul 09.
When I saw the amount of my escrow payment had increased by 38.26 I decided to call my own insurance company (STATE FARM) and purhcase a better policy at a much better premium than what Vanderbilt was charging. I purchased a 142,000.00 insurance policy from State Farm on 07/07/08 and faxed the declaration page to Vanderbilt's Insurance dept (HomeFirst Agency)on 07/08/08 showing proof of insurance on my home. I assumed this would be sufficient notice to Vanderbilt but when I received my monthly mortgage statement in August my payment was 734.11 which still included Vanderbilt's escrow amt. 113.37. I tried calling their customer service department for 6 days and kept getting a automated voice saying "all agents are busy at this time, please call again later".
On day 7 I dediced to call from a differnt phone number and I got through to a customer service repsentative and she stated after looking at my account that I needed to be transferred to a different dept. I was transferred and received a voicemail box of an account manager whose name started a "T" ( I think it was Tanisha)I left this T lady a message to please call me back as soon as possible I had some questions about my loan payment amount.
Two hours later she returned my call and was horribly rude and unhelpful. I asked her why I was still being charged the escrow amt of 113.37 when I had faxed my declaration page showing proof of my own insurance and she was unable to answer my questions. She stated that this was the first she knew of me purchasing my own insurance and that Vanderbilt was suppose to be paying my premium to State Farm and I was to in turn pay Vanderbilt back through my monthly payments. I was under the impression if I purchased my own homeowners insurance, Vanderbilt has nothing to do with paying them that I am the responsible party. I got so upset with this lady I was shaking and her yelling at me over the phone was only making things worse. I handed the phone to my husband and he was asking her questions that she was unable to answer and hung up on him.
I called State Farm and asked them if they had to receive the premium payment on my policy from Vanderbilt and my agent stated I was to pay it, not them. He was shocked at her suggestion and told me to call the company that handled their insurance information which I did. I spoke with Jenny from HomeFirst Agency when I first received my August statement to make sure they had received my declaration page becuase I was still being charged the 113.37 and Jenny stated they had received my dec page and the insurance was acceptable. When I asked Jenny why I was still being charged for the 113.37 she said I would have to contact Vanderbilt and ask them that all they dealt with was the insurance tracking. So needless to say no one from Vanderbilt was able to help me or tell me why I was still being charged the 113.37.
My mortgage payment was coming up on Aug 21st and I was trying to get this descrepency resolved before I sent in my payment. Since I was unalbe to get get any help from Vanderbilt I wrote a letter to their Account Receivables dept explaining what had happened and I included my payment of 620.74 for August. I stated I was not paying the 113.37 because I would be paying double insurance on my home.
I also asked that a Supervisor from Account management contact me to explain to me what's going on. I'm hoping its just a miscommunication somewhere between there departments but there is no way I should be paying them 113.37 a month for force placed insurance when I already have my own insurance policy on my home. If Vanderbilt continues to bill me on a monthly basis for 734.11 (620.74 original loan pymnt & 113.37 escrow) and I only pay 620.74 that they will try to foreclose on my home because I am refusing to pay the 113.37.
In 2000 I purchased a repossessed trailer from Oakwood Mobile Homes, when it was delivered it was not in the condition I was told to expect. There were multiple issues with the condition of the trailer as well as the set up. I accepted and fixed those items even though Oakwood had breeched our contract.
I was happy to have a place my daughter and I could call home! I was a 30 year old single mother; my hourly wage was $9.75. The Oakwood representative was fully aware of my situation and took advantage of my longing to have a home of my own. I was offered a 1st Time Buyers loan from Oakwood Homes for a repossessed mobile home at $52,000, and my grandfather allowed me to have it set up on his land.
Two months after the trailer was delivered I was laid off from my job. I had a 7 year old and no money coming in. A few months went by and I continued to get behind in my bills and I knew there was no way I could pay the mortgage on this trailer so I did what I thought was the right thing and called Oakwood. I explained to them that in my position I couldnt afford to make the payments any longer and that they should come and pick up the trailer. I moved out immediately but Oakwood continued to rack up my charges (late fees & interest) and didnt come and pick up the trailer until a year later.
After Oakwood picked up the trailer they in turn sold it for $8500, and then in 2004 they offered to let me get out from under this loan by paying $13,500, sounds good however they gave me 22 days to come up with it. I had no way to come up with that kind of money and especially in that amount of time.
Here in lies my first question If the trailer was valued at $52,000 in 2000 why did they sell for $8500 in 2002/2003? I know that I got over my head when I purchased the home, but I also believe that
Oakwood knowingly sold me the trailer at a price too high for a person with my salary and responsibilities.
In 2006 5.07 acres of familys land was transferred to me from my grandfather. My family has worked this land for years and my daughter and I are the beneficiaries. When Oakwood found out about the land they decided to come after me with both barrels. Now they want in the neighborhood of $100,000.00 to settle this issue when they only wanted $13,500.00 a few years ago. This land is my daughters birth right and I think it is criminal of Oakwood to get so greedy that they have threatened to keep this going another 10 years to make sure they get my families land. I make $11.20/hr, I am currently pregnant with my 2nd child and this land is all we have.
I expect to pay a reasonable amount for the trailer; if $13,500.00 was enough to close this in 2004 I believe I shouldnt have to pay much more than that.
When so many Americans are losing their homes at an alarming rate and some of us are holding on with all that we have, it sickens me to see a company like Oakwood not want to play fair but crooked and what I believe to be unethical.
I have always made my payment on time and added a little extra. When I recieved my new payment book. I noticed that my monthly payment had gone up. I was not given any notice about the changes in my monthly payments until I call to ask why my bill my new bill. They said they made a mistake on my escrow account, and that RESPA started a new law (2008)that required them to get an extra two month custion to cover the insurance. Which puts me almost $600.00 behind on my payments. It might not seem like much but it a big mistake the company made and now I have to pay or loose what I have.
The escrow is only insurance.
I know that this happened to someone else because I have talk to others.
and the same think happened to them.
How common is this practice, We the customer has more to loose, mortgage companies well benefit from our loss.
Vanderbilt carried my mortgage and I authorized payments to be deducted from my checking account. My house was sold closing on 12/6/05, with their balance due paid by title company. The balance they quoted was effective through 12/28/05. They deducted a December payment from my checking account and although I have written them they have not refunded this payment of $547.98 and did not return my calls.
I lost my job in Oct/04, thats when I
contacted customer service at Vanderbilt Mortgage to let them know; not to debited any more money from my bank account. Which that cost me $30.00
so from Nov 04 to August 05 no payment book, no letters, no calls, but 4 to 8
calls a day(NOT)! from Vanderbilt Mortgage, but a answer machine saying
1 to answer 3 to ingore, Whats That!
no name, no company, just 1 or 3...
In July 18th they, debited $498.32 from my account WITHOUT my permission took the money, when a payment was mailed on
7/5/05 for $498.32, they won't appy this to my Oct/05 payment! so they won't use it as a credit or put the money back into my account; just asking for another Oct/05 payment for the same amount.
My daughter had a mortgage with Vanderbilt. They sold the mobile home which was on Egland Air force base. The sale was a take over payment situation. Vanderbilt did not inform them that they also were co-signers on the mortgage for the new owner, who walked away after a few years. Vanderbilt now is coming after my daughter and son in law who are trying to get their current home repaired after being ruined by Hurricane Ivan in Navarre, Florida; if that isn't enough.
Vanderbilt had told me that Ohio charges $10.00 to pay-by-phone. I had been paying my mortgage from Chase Manhattan (Louisville, KY) by phone without a charge. Vanderbilt bought my loan from them and tell me that Ohio charges $10.00 for calling in and telling them my routing number and bank account number. Is this true that Ohio charges to pay by phone?
Vanderbilt Mortgage Company Information
- Company Name:
- Vanderbilt Mortgage
- PO Box 9800
- Postal Code:
- United States