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If there was any way I could walk away without ruining my credit, I would be gone.We found buyers for our home for "transfer of equity" and VMF has done everything they can to screw these people.

Now they have backed out. They originally denied them until our buyers came back saying they could put 1500 down. Then they were approved with 2500. No problem, until they called every other day telling them they had to come up with more $$.

It ended @ 4500.00 and them asking for 2 months payment up front in addition to that as well as 1000.00 more.. They couldn't afford anymore and backed out. In the mean time, I have a contract on a house, with $1k ernest $ lost and still have this mobile home on my hands. They wouldn't even communicate with us.

They would only tell us they are only authorized to talk to they buyer... Hello, It's still my house and I've never made a late payment... Original loan amt, 48,000 already pd 40000 and still owe 44000??? Where is the logic in that.

On top of that, I send extra every month and found out it doesn't even get applied to principal?? I'm hurt, upset, pissed and feel like I have no options. I feel bad for ever recommending these people to VMF and wil never, ever recommend them to anyone else. They are completely unprofessional and highway robbery.

They should be ashamed. However, I don't think they have shame. May the Lord be with whoever gets suckered into their scheems... And for anyone that's wondering, we didn't choose these people.

Our previous mortgage company was Bombardier until they no longer would carry MH loans, VMF bought our portfolio.

Review about: Vanderbilt Mortgage Loan.

Monetary Loss: $44000.

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Anonymous
#368730

:( I've had Vmf since 2008 my husband and I was a full time employee's didn't have a problem making our payments until now I lost my job due to federal funding my husband job is going under I was 52 dollars short on my payment and now a repersentive from VMF called me and said they are holding on to $700 of my money which makes me delqueint in my avount and if I don't have $1000 by tomorrow they are going to take legal action! They are cold hearted crooks who needs stoped by hard working pissed off people that are just trying to makes ends meet

Anonymous
#210156

Hi, We bought a SE home last year from clayton homes-My personal views on this purchase is-Stay away from SE homes!!! I have 35 video's and over 150 pictures of the problems with this home--And several of them couldn't be repaired by their contractors!! I'm possitive that this home will be total junk before the loan is payed off..It is 3 years old now {lot model} and already falling apart..As far as vanderbilt i'm too new at it to have a complaint...For pic's and video contact me-You will be astonished at the poor quality and the cheapest materials used by SE...

Anonymous
#127957

For don'tgetit, your mom is not legally responsible to pay for the debt, but if she does not pay then the mobile home will be repo.She cannot pay it and let them take it back as long as her name is not on the loan.

But if she wants to keep the home and any land that is attached to loan then the loan must be paid.Just because the grandmother died does not erase the mortgage.

Anonymous
#127843

In response to . Written by WF;

First don't pretend to know my financial situation. When we bought this home, we had no credit because we were newlyweds and young. This is what we could afford. It was financed with Bombardier and when Bombardier sold all MH portfolio's, VMF picked them up. TO this day there is not a glitch on my credit; again not that it is any of your business; AND, I make double payments every month trying to cut it down as fast as possible. I was upset when I first posted this post but stand behind my decision to talk anyone out of having to deal with VMF, simply due to how they respond to customers. I am speaking about customers who have NEVER made a late payment. I have never had to deal with them other than over the sale of my home and they were rude; unprofessional and completely unethical in their response to simple request on my behalf.

I don't know why you would pretend to assume you know who I am. I know there are allot of people who respond out of anger and aggrevation because they are not paying their bills and get hounded and that is their fault because they ARE in breach of contract, however, I am NOT one of those people.

Please take your accusations elsewhere...

Anonymous
#127782

Question:

If you are so upset about VMF and you can't sell your home why don't you refinance?

Answer:

Probally because your credit is not good enough to refinance nor was it good enough to finance anywhere exept VMF.

Vanderbilt finances homes for people that can not be financed anywhere else (in alot of occasions)

Are their rates higher then typical mortgage company's?

YES!!

I would assume because of so many delinquencies from their protfolio they must charge higher rates to make up for this. I am a firm believer that bad things happen to good people and sometimes you need a second chance. From my studies VMF is that second chance. I would imagine that the bulk of their portfolio is "C" and "D" paper. (Which means BAD Credit)

I am sure that they could use some improving just like any other company could. But don't take the chance of home ownership from those people that need that second chance for their family that only VMF will provide them by saying (Let's shut them down)

What I recommend is work on your credit untill it is good enough to refinance.

THAT'S WHAT I DID!!!

Anonymous
#92367

can my mother be held liable on her credit if my grandmother left her a mobile home with a balance and would never let her put it in her name the payment is in my grandmothers name and thats how payment are made my grandmother has been deceased for 8 years

Anonymous
#81931

Let me tell you all just walk away from your home,I know it hard but the only way to deal with these jerks is to put the ball in there court,If enough folks start fighting back maybe they can be brought down.If you dont want to do that then try calling the Att.General in your state they will help and if enough of you call in then vm is screwed.

Anonymous
#78173

I also financed a home with Vanderbilt, I was sending extra money to them monthly to pay the loan off early.Well seems that Vanderbilt forgot to tell anyone that any extra money sent goes into a overage account, not applied to your account.

This was not in any of the paper work we signed. So it seems Vanderbilt makes these rules up as they go.

I also had problems from the beginning with the shingles on my home and was told to call Owens Corning, well that did about as much good as sending extra money to them.Has anyone who has had these problems tried to report them to the Better Business Bureau?

Anonymous
#78160

We were looking at Vanderbilt to finance a mobile home we wanted, but like everyone above, they kept giving us reasons why they wouldn't/couldn't finance it.Now I am glad.

Can't they be reported to someone.Maybe this is how the guy that owns Berkshire-Hathaway (I forgot his name) gets rich.

Anonymous
#76190

In 1998 had to refince my MH and Vanderbilt was the only ones that would do it.Now it has been 11 years and I still owe 29,525.57.

I only borrowed 32,000. So in 11 years I have only paid 2474.43. My payments are 305.27 a month. Most of that goes in there pocket.

Only 46 dollars of my payment goes on the loan. That is one rich company.

And thats coming from a very poor consumer.How can we stop them!!!!!!!

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