I am in the LONG process of trying to buy a MH. I started at the beginning of April, and the 'manager' filled out an online application without me having accurate complete information to provide, and scribbled out a sales agreement, so badly filled-in that I didn't want to sign it.
I got to thinking that the house had been on the lot for awhile, as I live in the area and sensed its presence. When the manager kept stalling and not returning calls or answering questions, I initially gave up. THen one day I visited the dealer again, got the 'finance man' and asked if the house was a 2008, because I didn't think it was. (The sales agreement showed no year.) We checked the data label and it was built Jan 2006.
So I asked him to take over, and get me financing and exact numbers to either buy the 2006 (discounted of course) or price out a 2008. He failed to do so, and couldn't give me any details about the supposed 'approved' financing, stating interest rates from 10.5 to 17.25%.
I gave up again. After searching the area I found a great lot to rent, and decided to lease it even if it might be awhile until I found a house. The owner said I should talk with yet a different person at the dealership, which I did, and this 'salesman' has again filled out a sloppy sales ageement, yet I have seen an inhouse document showing the details of the financing agreement which are acceptable to me. Trouble is ... they keep dragging their feet to come to close. Was suppose to be yesterday.
Anyway, my question to you is ... why has this house not been sold since Jan 2006? Could it be a refurbished repo? Can they sell it as 'new'? and offer the initial warranty? How can I do a title search on it? Has anyone else experienced this with them?
Based on the complaints after getting the mortgage, although I know companies must follow protocol to collect, there's a good way and a bad way, and it sounds like all these people are sleezy.
Thanks for any advice and direction, before I close!
I find this utterly disgusting! I have been in litigation with Vanderbilt since 2006, when they started forclosure proceedings against me for a payment that I made and have a western union reciept for. They said it was short 48 dollars accepted my money and put into some sort of overage account, I have had my mortgage since 1998, in the course of litigation, they have produced forged documents to the state insurance riders with the wrong serial number of home, didn't obtain title for mobile home until 2000, they are not the registered leinholders...they claim my payment suddenly start increasing due to escrow, I never had an escrow account and have always paid my own property taxes, In May of 2005 my principal balance increases by 100,000.00 with no explaination nor documentation. All of the info regarding my home is wrong, and in district court I lost!! I am currently in the appeals process, and think that you people who comment and dog the people who are up against this comany are fools...who are you to judge, I made my payments even the extra undocumented amounts for a year, until finally I said enough, this after they would call my employer and neighbors that I was thirty eight dollars short and blah blah....If I had money I would have started litigation against them on my own, they forced by hand and thought I would go away quietly, homeless with 5 children, well guess what? Not the case! Even If i am forced to leave by the lack of judicial justice, it doesn't mean I will quit, I have more dirt on paper against Vanderbilt, than you can shake a stick at, it will just take time.
So for those of you in a position with Vanderbilt to counterattack DO IT!, If youv'e already been forced out of your home you have nothing else to lose...I'm due to be forced out now in feb. but am not giving up. If I had not allowed them to start proceedings against me I wouldn't have half of the paperwork that I do now, for ten years Vanderbilt wouldn't send me statements or payment booklet, for ten years, I recieved no documentation or closing papers...They say there arn't any, HMMMM go figure.
My husband and I have a home from Vanderbilt. They were not the original mortgage company, they bought out our original company. We have a 30 year loan that is almost paid off. The last two years we have had nothing but trouble from them! The closer we get to paying the trailer off the more they harass us. I was laid off work and missed two notes. When I tried to send them both notes via the internet, my account was locked and would not accept payment. I called and was informed that I would have to pay the TOTAL of the loan to return my account to good standards. Were talking $8,000 here. I don’t know about you but if I had that kind of money laying around I wouldn’t be living in a trailer to begin with. I talked to the manager over my account manager witch was just as rude as Sara that I was already talking to. After I got off the call highly pissed off I wrote a check (a check that is in only my name) to Vanderbilt for the past due amount and the next month. They ran the check through my account, turned around and sent a check to my husband in his name from Vanderbilt for the exact amount that I wrote the check for!!!! And we were served with a summons to appear in court for failure to make payments on time. They are taking actions to reposes our house! We are due in court this Friday! So to anyone out there that may stumble across this and take the time to read it, whatever you do. DO NOT USE VANDERBUILT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! IT’S A DEATH TRAP!!!!!!!!!!!!
My advice is to steer clear of Vanderbilt Mortgage under any circumstances. My MH was destroyed by fire in 2005. I had obtained insurance based upon the amount that Vanderbilt had required; however, when I tried to send them the insurance check, they tried to charge me over $4,000 more. I obtained an attorney and he discovered that the amounts they were trying to add to the payoff were not legit and I was in no way liable to pay those additional charges. They eventually settled out of court and accepted the insurance check as payoff. I thought this nightmare was finally over until I received a notice from the IRS recently showing that Vanderbilt has turned in a "Canceled Debt" in the amount of $6868 on my 2006 taxes. (Apparently they have added the attorney fees that they had to pay my lawyer to the original amount.) I have already contacted the IRS and the rep told me that this type of circumstance is not considered a canceled debt and he advised me to contact my attorney. I advised him that I have already called my attorney's office and will be meeting with him regarding this matter. STAY AWAY from Vanderbilt!!
They do have more repos and honestly take advantage of their customers. I am in a situation where they are constantly trying to take my home and never 30days late. One time they said I overpaid them and had sent extra in but then two months later they said I was behind. I have never in my life heard of a mortgage company taking peoples homes and not working with them. This company takes the cake. I wonder why the Federal Government hasn't investigated them. I hope they do soon. I am still in my home and up to date think. But I feel for all the hardworking people that are truly taken advantage of by this company. They should have been number 1 on the list for mortgage fraud. .
Please, please, do your research on Vanderbilt. Even if you have to throw away money on rent for years as apposed to financing with Vanderbilt, you'll be better off. It looks like you're doing your homework and good for you. Don't let these people ruin you! Things will come up that you would never expect from them... Right now, I've tried to sell my home, "Transfer of equity" and they try to take our buyers for all they were worth up to the point of causing them to back out.. I have always made my payments on time and paid extra however, in 9 years, absolutely nothing has fallen off of our principal balance. I received a written payoff quote last Wed (5/21) Made a payment Thurs, and requested and received another 2 days later Friday, ... The quote was $2500. MORE than earlier. NO ONE @ Vanderbilt has yet to explain it to me in terms. RUN RUN the other way! I'm an honest person and even if I have to keep my home until I can pay it off, I will not refer anyone else to them for a TOE. It would be dishonest on my part.
Just another update on Monday evening. Well, I was suppose to close today. Had a bit of a panic attack prior to getting ready to meet MH dealership people. I have decided to not escrow anything (that seems to create problems with Vanderbilt) and buy insurance on my own. It is my right, and they cannot force me to purchase their insurance. I have refigured and refigured the numbers, and am as prepared as I can be to review, negotiate and make a decision to move forward to the close. Trouble is, this is about the 4th reschedule on their part. I believe it's a tactic to wear me down so that I accept whatever offer as I just want/need a house now. Well, they don't know who they're dealing with; if anything, it's given me more time and resources to be better prepared. Thanks for listening. I've never had so much nervousness buying property (house/land/real estate) before in all my life (and I'm rather mature now in years). Say a prayer for my financial well-being.
As I have been doing more research, I have learned that Vanderbilt has the largest number of repos. That, in fact, others have been duped, receiving homes that have been set-up prior to their purchase. Although MHs can be moved and re-setup, it is not a good thing structurally, and many MHs end up with hidden (at least to the purchaser) damage (not the setup guys) and experience misaligned doors/windows and cracks in walls,etc. Yet, they believe it's a 'new' home, and they are paying for it for many, many years. Additionally, the 'dealer' I'm working with said I 'had' to start off with their insurance, even though I have gotten a price quote from my insurance agent, and that I could change over after the first year. Now, I've purchased MHs and site-built homes in the past, and you are able to secure/pay for whatever insurance company you want. They want you to buy theirs as they get a commission. OK, that's what else I know, and I surely have my doubts to move forward with the close. I'll be lucky to get my deposit back.
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My advice is to steer clear of Vanderbilt Mortgage under any circumstances. My MH was destroyed by fire in 2005. I had obtained insurance based upon the amount that Vanderbilt had required; however, when I tried to send them the insurance check, they tried to charge me over $4,000 more. I obtained an attorney and he discovered that the amounts they were trying to add to the payoff were not legit and I was in no way liable to pay those additional charges. They eventually settled out of court and accepted the insurance check as payoff. I thought this nightmare was finally over until I received a notice from the IRS recently showing that Vanderbilt has turned in a "Canceled Debt" in the amount of $6868 on my 2006 taxes. (Apparently they have added the attorney fees that they had to pay my lawyer to the original amount.) I have already contacted the IRS and the rep told me that this type of circumstance is not considered a canceled debt and he advised me to contact my attorney. I advised him that I have already called my attorney's office and will be meeting with him regarding this matter. STAY AWAY from Vanderbilt!!
