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Vanderbilt Mortgage And Finance

Posted:    

Scam and fraud!

Complaint Rating:  86 % with 28 votes
86% 28
4.3
Contact information:
Vanderbilt Mortgage And Finance
500 Alcoa Trail Marysville, Tenn.
Maryville, Tennessee
United States
Phone: 800-970-7250
www.vmf.com
I too am a current victim of Vanderbilt Mortgage. They have repossessed my home and are trying to sell it tomorrow, the day after X-mas at a 'private sale'. They have been involved in a scam with my park owner who wants me to move out of this park as a retaliation for my non payment of money she tried to illegally bill me for after a court action not awarding her any money for damages sustained in a vandalism case in which my minor Son was implicated and cleared.

Park owner refused my rent payments and hasn't billed me for nine months. No unlawful detainer has ever been filed, but Vanderbuilt has been making little lump sum payments to her for my back rent and tacking it onto my mortgage and raising my payments.

Suddenly Vanderbilt refuses my payments and admittedly is forcing me into a default so they can repossess my home unless I move it out of this park and pay them 6000.00 for back rent which they spent without my knowledge, and provide them a letter from the park owner canceling this illegal 60 day termination she served me with back in April 2007. Time for the class action people so contact me if you want on board. I'm ready to rock.
Complaint comments Comments (33) Complaint country United States Complaint category Mortgage Companies

Comments

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A  19th of Aug, 2008 by    0 Votes
this is jimmy and i agree that vanderbuilt mortgage is a rip off scam place a while back i lived in a trailer of theres and the brother of my brother in law wanted to buy the trailer and i let him do that and the agreement was with him and vanderbuilt at the time to buy the place but nothing was said of repossession and now they have it on my credit report messing up my credit i would advise everyone to stay away from them unless they wanted the same to happen to them all i wanted them to do is take it off my credit report that was unfairly put on it i didnt even get a bill from them saying that i owed anything at least that way i would have been given a chance to pay it first yep anyone wanting to buy a home i would not recommend them for any reason they have ruined my credit score they have me a oweing them 60.95.00
N  19th of May, 2017 by    0 Votes
@jimmy proffitt I am now going through this myself There is a Law firm that is trying to get enough people for a class A law Suit. Please call me at 270-860-6032 and i will give you all info so we
can stop these POS from ever doing this again.

270-860-6032 ask for Jackie
A  19th of Aug, 2008 by    +1 Votes
this is to vanderbuilt mortgage all i am asking you to do is remove what youve done to my credit report cause it will be deleted anyways come 2012 or 2013 i have read what it said i ll just wait it out until that 6095.00 comes off my credit report before i pay what i do not owe if anyone asks me about vanderbuilt i ll tell them they would be a making a big mistake but chooseing vanderbuilt
N  30th of Oct, 2008 by    +1 Votes
It seems to me that th majority of these complaints involve people who were/are behind in their mortgage payments. No matter the reason if youare/were behind any Lender has recourse to get paid.
If they send a Collection Agency after you. Send the COLLECTION AGENCY a letter simply stating that "you do not recognize the COLLECTION AGENCY's authority in the matter and will only deal with the Principal directly {Lender] "and the COLLECTION AGENCY can no longer contact you. They can't call, send someone to your home or any other actions on behalf of that INDIVIDUAL LENDER.

According the the Consummer Fraud Div. in my State there were 155 complaints filed on VFM. All except 2 were satisfactorily resolved in a timely manner by VMS. The 2 taht were not was because the borrower refused to accept the resolution worked out b the BBB and Consumenr Fraud Div. on their behalf.

My recommendation is if you have or had a problem with VFM contact your State's Attornet General's Consumer Fraud Division and file a complaint. I would also recommend that anyone who does business with ANY lender read ALL the fine print or have an Attorney go over the paperwork BEFORE you sign for the loan.

This is NOT LEGAL ADVICE. I DO NOT GIVE LEGAL ADVICE..just my opinion.
A  4th of Feb, 2009 by    0 Votes
I am not behind on my payments and never have been. My complaint is that in 1998 I purchased a Oakwood home and financed it through Oakwood Acceptance. In 2001 Vanderbilt purchased my loan from Oakwood Acceptance. My payoff is going now wheres, since Vanderbilt took over. It is like I started my loan over and plus some. In 1998 I financed 56, 900.00 and I have been paying on that for over 10 years, estimated over $50, 000.00 paid in that 10 years. My payoff balance as of today is still $53, 900.00. So in 10 years my loan balance has only went down $3, 000.00 but I have paid over $50, 000.00. Something sounds really fishy about this.
A  10th of Feb, 2009 by    0 Votes
All people complaining about vanderbuilt mortgage and the insurance please contact baldemar guitierres at 3616647456 and find out how he can help you with a lawsuit against these companies. he is very experienced with this matter and is going to help me with my case. He won many of them and all had to do with fraud, damages of the home and so on. i honestly thought that we were the only ones going thru this right now and that everything dating back to 2000 was taken care of. These companies will never stop unless we face trhem and make them understand that we are only people trying to have security and that are hard worked money is what is paying for us to live in this homes which are not at all worth living in. Whenever someone gives you a good deal and its to good to be true then it is so walk away.
A  16th of Feb, 2009 by    +1 Votes
because they lost our payments stated we never paid and we did...theyre giving us until friday to get out they want marches payment by tomorrow and me and my son are both on disability!!!
A  10th of Mar, 2009 by    +1 Votes
I have a mortgage threw vanderbilt and it's been nothing but, trouble the have been escrowing my account with my mortgage saying the are paying my tax and insurance which when we purchased the house they tacked on home insurance for 5 yrs into the mortgage and I am not suppose to pay home insurance until April 09 which vanderbilt has sent escrow statements saying they paid so much to property tax and so much to insurance premuim which they had done neither. I received a certified letter from my county stating if I ddn't pay my deliquent tax that they were going to seize my property with the mobile home now I am waiting for vanderbuilt to contact me back and I have heard nothing. Please help I never knew who my insurance company was until yesterday when vanderbilt renewed my policy for me without my permission and the old policy hasn't experied yet.
N  13th of Apr, 2009 by    0 Votes
I agree with all of you!! I am having the same problem. They got me to take out a $200, 000 loan on a piece of property telling me this that and the other...I believed the house was worth at least that and I had to get it appraised and it is worth $103, 000. They won't show me invoces or paperwork stating the costs of all the extras to the house that I paid for and went up $600/month on my house note and can't explain why. As far as taxes they told me that was included in escrow but I also got a tax bill at the end of the year for $1000. I want to sue them and am seeking an attorney at this moment. Stacey
A  21st of Apr, 2009 by    +1 Votes
I agree with everything everyone is saying. My husband and I took out a loan for Vanderbilt Mortgage and then he lost his job. We called Vanderbilt and asked them is they could please fine someone to take over our payments so that way we could move into a more affordable place. Vanderbilt then told us that they have found a buyer and that our house was sold so my husband and I moved later to find out that they didn't sell our house they repossessed it and three days after the repossession they had they buyer sign the papers. So now they are wanting us to pay the 20, 000. They have done put it on our credit and tell us that its our fault. We made our payments up until we moved so we didn't let it go into default. So if any one has any advice on how to help my husband and I take care of this please help.
Thanks,
Megan
N  22nd of Apr, 2009 by    +1 Votes
Megan,

GET AN ATTORNEY!!!
A  22nd of Apr, 2009 by    0 Votes
Stacey,

I have been on the phone all day with attorneys and they say that I do have a case because on my credit it is showing that Vanderbilt put it as a voluntary repossession. The attorney says that I have to sign a form for that and I haven't signed any forms so now I have a attorney handling my case. My advice to everyone that is dealing with all this talk to and attorney don't hesitate because you my be in the right and Vanderbilt be in the wrong. Thank you so much..maybe now I can get my life back on track no thanks to Vanderbilt.
Megan
A  22nd of Apr, 2009 by    0 Votes
Megan,

I wish you the best. I will be in this dispute with Vanderbilt for many more months and don't know what I'll do. I've talked to an attorney, but they won't talk to my attorney and I'm just waiting for them to let me know what is going on. When I bought my mobile home (triple wide) from Clayton they kept adding money for me to borrw and told me my note would be $1100/month. When we signed papers the dollar amount and monthly amout was totally different and they told me that, that is what the papers said, but that I'd get a credit for what the money I didn't acutally use on extras for the house, etc. This was Dec. 2007, now my note went up $600 and I owe $1000 in property tax per year that they told me was included in the note. I've asked the corp. office at Vanderbilt for documentation as to why my note went up and detailed invoices of what I spend and where it went, etc. and they won't budge. Now my house is in defalut and I don't know what they'll do next. They refused to do a short sale cause the property appraised for $103k and we owe $198k. The house is on land that has no utility right aways...I ran my utilities through my Dad's yard who lives in the home next door, but he said they are crazy if they think he'd give them permission to use his property for utilities. They'd have to tear down the brick work and carport/patio cover we had built to move it and that would cost a fortune. My thing is that...they screwed me in the loan and now I'm paying for it. The house will likely go to auction where my family will have to try to buy it back for me, but I'm not paying over $75k. THEN, they will come after me for the difference between that and what I really owe and I'll likely be forced to file bankruptcy. It is a shame that this company is getting away with what they are doing to people.
N  12th of Jan, 2010 by    0 Votes
My Husband was laid off for 2 months and we were able to keep up with our payments. He had a massive heart attack and was lifelined to the hospital. Now Vanderbuilt wants to foreclose rather than wait to see if any of the help we applied for will come through. We need 5 extra days. When we loose this home I also loose custody of my 3 children. Why can't they wait just 5 extra days?
A  17th of Feb, 2010 by    0 Votes
Wow! I am just baffled. I too have been done wrong by Vanderbilt. But after reading all your complaints I regretfully say I am not alone anymore. I too am seeking an attorney for a lawsuit. With my case at heart and not wanting to damage it I will keep most of the details to myself and only pinpoint a short few. To begin with I have been told that I have an FHA government backed loan. When I called HUD in reference to verify this, I was told that I do NOT have an FHA loan.

I purchased my home in April of 2003. Just in case everyone here is not aware, Vanderbilt Mortgage IS Clayton Homes. I purchased my home from Clayton Homes. When we did the closing, we used their attorney. I was told after signing all the documents that I would recieve my closing documents in the mail within a week. It is now 2010 and I just received my closing documents from Vanderbilt when I was served with foreclosure papers because they refused to work with us or modify our loan after my husband fell 26 feet from a ladder and now has perminate brain damage and will never work again. We have paid to get our home out of foreclosure thanks to my dad. And are now caught up and don't have another payment due until May thanks to the settlement we received. But we are working very hard to repair our credit, thanks to Vanderbilt making so that we had to file bankruptcy and skate by the skin of our teeth until the settlement came in to keep our home, to attempt to get our loan refinanced so we will be able to afford to stay in it.

Also, when I received the copies in the foreclosure papers I noticed that all but 1 of the signatures are NOT MINE!!! So now this is the way I see it... Vanderbilt has put us through total hell, lied to us, made it near impossible to make our payments after a life changing event to attempt to take our home (that is worth a lot more now that it is under pinned in brick, had 2 decks and a pool added to it), refused to give us our closing documents until the day they were attempting to take our home (which we put the land as collateral) and a lot more that I really should not list.

Every time I would request assistance they would tell me that they could not help because my loan is an FHA loan. HUD says it is not and that they have absolutely no record of it.
I am seeking an attorney now. I am in South Carolina in Richland County if there are any attorneys here or anyone that knows of one. PLEASE let me know!

Sincerely,
Tanya
A  14th of Apr, 2010 by    0 Votes
YOu have to read this article

http://www.caller.com/news/2010/mar/20/builder-faces-more-lawsuits/?print=1
A  12th of Oct, 2010 by    0 Votes
WHY YOU DON'T OWE THEM

1. You don’t owe it — you only think you do and THEY want to keep you thinking that way so you’ll sign a new deal (“modification”) and release your defenses and claims. Your “lender” was paid in full by the mortgage wholesaler, who was paid by the investment banker and investors who were bailed out by insurers and the Federal Government with your own tax money. There is no debt left. Zero.
2. To enforce an obligation a creditor must prove the obligation. They can’t. But in non-judicial states, foreclosing parties get around it by NOT going to court — they try to put the burden on the homeowner to convert it to judicial. If you can get something filed in the property records, like a reconveyance through power of attorney (after presenting them with an extensive qualified written request), then you shift the burden back on them.
3. It is highly likely that the bankruptcy code will be changed very soon: allowing judges to write down mortgages to reflect present fair market values in the housing market. Even that, though is a double payment to the people who sold you your mortgage or other loan, because they have already been paid.
4. It is highly likely that with or without changes in the bankruptcy code, the modification of mortgages will be required — not with the current offers of increasing your enslavement to 40 years and lowering interest rates for a while, but with substantial reductions in the principal due on the note, the interest rate, 30 year fixed etc.
5. We here at www.livinglies.wordpress.com have not seen a single case go to trial in thousands of cases we have tracked. The harder the homeowner fights the better the results. The “lenders” either disappear, dismiss their claims, or enter into settlement agreements satisfactory to the homeowner.
A  25th of Jun, 2012 by    0 Votes
We too will be fighting with them shortly. This is the most disgusting company ever! My husband and I bought our Oakwood home back in 1999 and when Oakwood filed for bankruptcy, Vanderbilt took over. We financed right at $50, 000 originally and after 16 years of payments have only paid the principal down $6, 000. We recently bought a new home and have had the Oakwood up for sale. Unfortunately we have not had a buyer and we contacted VMF and turned the home over to them. They assured us they would sell the home and we would only have to pay any difference in our balance and what it was sold for. We found a website today with the home listed for $14, 000. We will owe $44, 000. They are going to screw us on the balance. We have contacted an attorney, but as of yet have not heard back. I will tell everyone I know NEVER to do business with them!
N  26th of Jun, 2012 by    0 Votes
I am a vanderbilt victim also. Back in Feb-Mar of this year my hot water heater when out and dumped water into my living room and part of my bedroom. I call the insurance company, which vanderbilt connected me with and they sent a adjuster out to my home. The damaged was priced at $1066. I received a check and immediately deposited in my account and got someone to do the repairs. The bank took the money out of my account and sent the check to Vanderbilt saying that Vanderbilt needed to indorse it also. It is not June and I have not received the money back. Vanderbilt has stated that they sent the money back to the insurance company, but the insurance company stasted it did not receive the check. Vanderbilt is keeping the money and preventing me from fixing my home. They are a bunch of Ill mannered nasty creeps who don't give a damn about you. It anyone would like for me to join their class action suit please contact me, I would be more than happy to do so. Thank you.
A  5th of Jul, 2012 by    -1 Votes
We have been evicted. we have a complaint filed in district court against Vanderbilt, MERS, Trust company, the original lender EOFS aka banco popular aka Equity one. The judges and courts are in on all this you know. They get paid (judges) by the lenders a percentage. Just look it up. You have to fight, look up other complaints on line and see how to do it. They usually settle out of court. In your favor if you dont back down. Here is a young man with 100% (he states) success with fighting foreclosure. He will help you, charge you affordable payments. A friend is using him now. he used to work at a law office foreclosing on homes. He could not stand it and now helps people. Let;s bring down Vanderbilt and their buddies
Ajit A. Narasimhan
N  6th of Jul, 2012 by    0 Votes
Laura at Vanderbilt: Your life must really SUCK or you don't have nothing but a 6th grade education and can't find another job. I am NEVER more than 30 days late. Enough to keep it off my credit report. But you call and call and call and call... I asked VMF to change my payment due date 10 years ago from the 15th to the 1st but you wouldn't. MY REASON? I had to quit my job because I had a child born with severe multiple disabilities. no nursing help, no help at all, no one to help with him so I could work. We lost half our income, filed bancruptcy but we KEPT your f'in loan out of it and continued to pay the best we could... Its coming up on 18 years now paying on that piece of ### tin can that I don't even live in. I will continue to pay the loan like I said I would 10 years ago at the END of the month and you can continue your pitiful little life calling. Why would you think anyone would return your call when you say "Return the call to Laura at VMF?" Don't ask me every single time you do get through to me "why am I late?" YOu don't work with me, I don't work with you. If you don't like it, go get the piece of ###, It will fall apart as soon as you try to move it off my land. WORST THING I EVER DID WAS BUY FROM CLAYTON HOMES. AND FINANCE THROUGH VANDERBILT FINANCE & MORTGAGE.

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