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Vanderbilt Don't Use / mortgage

Spring Lake, NC, United States

Before I tell my story, please, please contact the CFPB if you have had problems with Vanderbilt. I will explain why at the end of my post

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 ot us. If you're curious there is a link between the two companies that I will provide at the bottom of my post

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. They'll also call your neighbors if you are late on a payment

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. Doing so will get you this message:

"We added your complaint to the CFPB’s Consumer Complaint Database on our website at consumerfinance.gov/ComplaintDatabase.

Your feedback, as well as feedback other consumers may provide about this company, helps us make decisions about which issues and companies to investigate. If we take public legal action against the company that involves the issue you complained about, we will let you know. You can see public legal actions here: consumerfinance.gov/policy-compliance/enforcement/actions/.

We have also shared your complaint with the Federal Trade Commission, which will add your complaint to its database for state and federal law enforcement agencies"

If enough people complain than the Federal Trade Commission and CFPB could bring legal action against Vanderbilt. This would protect soldiers and veterans

https://www.mahanyertl.com/2016/investigation-clayton-homes-vanderbilt-mortgage-21st-mortgage/

Dl
Aug 24, 2017

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