First of all, I would like to say that I have read enough! I have read the complaints about VMF and I would like to give a "neutral" opinion.
Many of you are saying that you are mad that they resort to calling your neighbors and family members when trying to collect payments. Don't you think you could avoid that situation by simply making your payments? If not, couldn't you work out some sort of an arrangement and actually follow through with the arrangement you make? I can bet that these collection representatives have to hunt you down just to get you on the phone. I can also bet that many of you have made bogus arrangements and therefore the collections representatives don't trust you and aren't willing to work with you!
This brings me to my next point...what exactly do you expect from a mortgage company? Many of you state that you want them to work w/ you, but are you willing to work with them? I am sure that there is only so much they can do for you...! Also, remember, they are employees and they do have to answer to their supervisors.
In addition...who is the one that is on the contract? If you sign a loan document, it does make you legally responsible for paying the payments in a timely manner. I can't believe that some of you actually think that it is not a big deal to be behind 3 or more payments with your mortgage company! Is that fair to those of us that actually make the payments on time? Not to mention...legally you are in default after being 30 days delinquent, and that is the beginning of foreclosure!
Also, I read a complaint about being served papers for foreclosure on a home that belonged to someone's deceased parent. Legally, they have to notify any and all possible heirs to the estate if the person didn't name an Executor of Estate before dying. If I were you I would be glad!
Lastly, I read some complaints about a lender placed policy for insurance. If a mortgage company doesn't have proof that you have insurance on the home, they have no choice but to insure it themselves. It is your fault that you didn't provide proof of insurance in the first place. The people that are "repaying" the lender placed policy after they provide the company with their own proof of insurance are people that have what is called a "lapse" and they would be responsible for paying for the time that the mortgage company provided the insurance. For example...if your insurance expired in December and was cancelled due to non payment of premiums, the lender would start their own policy in January. Let's say that you got insurance again in March and provided them with proof of coverage, you would still be legally responsible for January and February premiums for the lender placed policy. Make sense?
If I were you, I would be happy that they agreed to finance you with the poor payment history that I have read about on this site!
Okay..I have read what you all are saying...Now let me tell you from the other side of Vanderbilt. I have been trying to BUY a repo from Vanderbilt. They have undersold me everytime...They tell you they will put your name on it, you go get the loan and poof they've sold it to someone else....Also I dont understand how they can sell a 2003 Oakwood for $15,000 and then try to sell a 2000 Clayton for $25,000...Both houses are in excellent condition...and yes they ARE RUDE!!! Im trying to buy something...Im not in default...and they ARE RUDE TO ME!!
If you guys wanted to buy a home go the repo way...www.vmfrepos.com...go there you might see your home and see what they are now selling it for...or go to mobilehomeexpress.com....
I do and have paid my payment, I originally had a contract with OAkwood... now stuck with Vanderbilt. I have for more the 12 years paid additional priciple on my loan ... they can't show me where ANY of it has been credited. I have in 12 years gained $0 equity according to Vanderbilt ... and now owe more than I purchased the home for * and I put $8000. down! I requested a payment history and what they provided was a joke .... I have each cancelled check front and back copies as well as my certified mail receipts .... they DO NOT correspond in any way shape or form with what Vanderbilt calls my payment history! In fact, they claim they have not received payments until 6 months or more after the check had already cleared through my bank .... now, can you explain that one to me? Very Poor accounting/bookkeeping on their side of the house. I keep EVERYTHING....cancelled checks return receipt cards .... I mail each and every payment certified mail so I can prove they received it and when. They repeatedly attempt to force me to buy insurance through them. I have my own insurance it renews annually and is paid in full at renewal, yet Vanderbilt never fails to claim the insurance is not valid....and it is a standing joke with my insurance agent and I that it needs to be faxed to them at least 100 times before they can ackowledge receipt. The agent now also forwards the hard copy to them by certified return receipt mail so he can prove that they did indeed receive it when they insist they have not. They have violated the fair debt collection practices act on a monthly basis since taking over my Oakwood account. In fact, I was never given any indication of a new loan number or new payment address when they took over and because my payments were paid to the old account number and address they attemped forclosure ..... but mind you, they were cashing my checks the whole time and threatening to take my home! Sound fictional? Not at all .... I have a huge book of documentation .... step by step. I feel a class action suit is needed .... there are laws to protect consumers and there are laws as to threatening debt collectors .... we as the unfortunate clients of Vanderbilt need representation. Please write to you State Representatives and seek advise .... maybe if enough of us do ... we will see some justice. Thanks for listening.
I am shocked by people whom get on here acting like they know what it is like to deal with this horrible company. We are all stuck with piece of crap homes, who have been ripped off, first by the inital owners, Oakwood, whom was sued by us whom they lied, stole from, and frauded, and now we have to deal with the jerks at Vanderbilt. There is no option to get out from under them ie...selling etc...They are horrible at customer service, I have had a Call Center job for 5 yrs, and never speak to any customer like they do, nor as their supervisors do. And as far as being behind due to serious illness, or hardship such as losing your job, there is no arrangements to make, all there is is threats of foreclosure. I truly hope that the investors, and employess of this company feel good, and can honestly feel satisfied at their job for treating people so horribly.
Oakwood gave us all a raw deal, just to end up with more crap from a new investing company Vanderbilt. All these big companies are getting huge bailouts from the government, what about us whom asked for a bailout option by suing Oakwood for fraud, and was not helped at all, just to have to keep the crap they sold us, and outragoues debt we are all now in. That has alot to say about how much people really care, it is truly sad. I bought from Oakwood at 20 yrs old, and am now 30. It has been a nightmare before ever even closing. This is the biggest mistake I ever made, and have no way out.
Well let me say this. When i bought my home i wasn't with vanderbilt. I purchased my home with oakwood. With an assumable home i may add. Now oakwood went chapter 7 i was stuck with vanderbilt. AND YES THEY ARE RUDE. NO matter what you do or say or follow through on they are mean. I don't really care case at this point they can come and get my home but the big issue is they don't want it.They want you to believe they are gonna forclose but trust me they won't. The most they will do is send someone out to the house to try and collect. So to all those afraid to lose your home. Don't be. It takes about 10 grand to come and collect a home especially if you own your land. So yes they make idle threats while all in all it would cost them more to come and get then what it's worth. I still have my home i don't even want. and now they won't let anyone assume the notes. I have tried 4 times and all 4 times the people have been turned down. So now i'm stuck with this mobil home i can't give away.
While I agree with most of what you have stated, VMF still has poor customer service issues. I have never once made a late payment nor do/have I had "a poor payment history". I have always paid on time as well as extra toward my principal monthly. VMF was a Pain in the "you know what" when I found a buyer for my house. Our buyers ended up backing out because of VMF. In addition to that, they wouldn't even keep us informed of what was going on with the sale of our house. It was like pulling teeth to get any info on OUR SALE. So, we are still stuck with the house and VMF. We didn't choose them as a lender in the first place and I reap the day I ever acquired them as a lender.
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