Vanderbilt Mortgage
Escrow and Insurance Costs Raised Payments From $364 to Over $500

Vanderbilt is a such company. Started with Oakwood mortgage was bought out by Vanderbilt. Only had a 3 yr escrow agreement with Oakwood for insurance. Well my payments have escalated from 364.22 a month to over 500.00. Was told by one of Vanderbilt's peons that I should buy my own insurance since I don't have an escrow account.

So it sounded like a good idea and my wife and I purchased our own insurance for 666.00 verses 1300.00 from Vanderbilt. After faxing the insurance copy to Vanderbilt somehow they managed to pay the premiums on the new insurance I purchased. Now they say that I owe escrow 800 and some odd dollars for indebits to escrow.

I have written numerous letters to them telling the not to pay my insurance but they can't read English apparently. This company was carrying thirty thousand dollars worth of insurance on a sixteen thousand dollar mortgage. For awhile I actually had two insurance companies policies on the same trailer because they didn't want to cancel theirs. I would love to go into a class action lawsuit against these crooks. I don't think I will ever get this mess straightened out meanwhile I spend my time answering the 9000 phone calls they make to my house.

Frustrated in Kingsville Texas
Any one filing a suit let me know

Company: Vanderbilt Mortgage
Country: USA
State: Tennessee
City: Maryville
Site: vanderbiltmortgage.com

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