Due to retirement & lack of necessary income I figure I may have to sell my mobile home which is financed by Vanderbilt. So, I realize I had better check on my mortgage balance and begin to check the market value of my home.
I bought my home in 2001 and paid approximately $32,000 for it. Now, in Aug. 2008 I found out just the other day that my loan balance is $31,400!
When I was working steady I added $50 monthly to my regular payment. I did that for at least a year or more. I had to stop doing it when my payment was increased about $650/yr to pay for mortgage insurance, which suddenly became due because the money set aside in escrow for payment of the insurance suddenly disappeared.
Needless to say, I am thoroughly disgusted with Vanderbilt and their whole system of operation.
Product or Service Mentioned: Vanderbilt Mortgage Loan.