Vanderbilt Mortgage
Escrow increase after loan transfer claimed lapse in insurance
- 08-16-2005
- 20
Our manufactured home, bought in 1993, was financed through Chase. Then suddenly, without any warning, we were mailed a letter stating that Vanderbilt was now our mortgage holder! We had homeowners insurance with Chase. Then suddenly our payments skyrocketed from $350 a month, insurance included, to $394 a month! Vanderbilt claimed we had a "lack" of insurance when they became our new mortgage company! Mind you, we never knew the mortgage was changing hands!
They said they picked up the lapse of insurance, which we are to pay back monthly. That explained their increase in the monthly mortgage! We owe the escrow.
These people talk in riddles and you can't get a straight answer! If you do get behind by a month, they will call and hound you relentlessly, yet if they owe you money, it's a different story!
Sharks...
Company: Vanderbilt Mortgage
Country: USA
State: Tennessee
City: Maryville
Address: PO Box 9800