Vanderbilt Mortgage - Will Vanderbilt repossess our home?
Vanderbilt is the mortgage co.that took over our mortgage when Oakwood went belly up.
We recently got a letter, Notice of Demand for Payment in Full of Your Account in the mail, telling us we defaulted on our payment agreement and that we have to pay over 50 thousand dollars, to keep our manufactured home. We are actually two and a half months behind in our payments. We were given less than two weeks to pay. If we do not pay, they will evict us.
We do not have this kind of money. Vanderbilt said they had already sent us the notice of default and right to cure default, of which we never received. Unless we pay this huge amount of money immediately, they may recover and resell our home. Can they do this, even though we never received the notice of default and right to cure default notice?
Also, if they can, how long would they give us to vacate our home?We do not own the land our home is on.
Monetary Loss: $50000.