Vanderbilt Mortgage And Finance
Back insurance and late fees raised loan back to $85,000, rude rep

I bought my mobile home and land package in 1997 with Associates Housing Mortgage. Recently I learned that Associates sold the mortgage to Vanderbilt Mortgage Company. Since then, everything has gone downhill. I get harassing phone calls from Vanderbilt both at home and at work stating that I don't have insurance and therefore I will be required to pay the back insurance all the way back to when Associates had the loan, about 10 years' worth.

I got the mortgage with Associates for $85,000, and when I last called Associates to see what the balance of the loan was they told me it was $73,000. Vanderbilt called me the other day and stated that with all the back insurance payments and late fees going all the way back to Associates, all of that would be added to my mortgage, bringing it back up to $85,000. So I have paid on this home for 10 years and still owe the same amount as when I began.

The VMF customer service rep was the rudest, nastiest-talking person I have ever had to deal with. She was more of a bill collector than anything else. She stated that my payment was going up, and she seemed to enjoy it, laughing while she talked. She said, yes indeed, your payment is going up from $746.00 to $881.00 per month. I asked her why, and she stated that it was going to be put in an escrow for taxes and insurance. I tried to explain to her that I'm paying taxes and insurance, and she replied, "not any more." I also asked her why they were tacking on money to raise my mortgage to $85,000, and she stated that it was because of bad management practices at Associates, and that's why they are not in business any more.

There has to be something we can do about this company. I have been researching the company's reputation and it's pretty bad, but we need everyone's input on this company. With this company being so bad, there are only 163 complaints filed with the BBB. According to the BBB, all 163 complaints have been taken care of. This is not right. We need to get together on this company and take legal action against Vanderbilt Mortgage.

I have a fax in my PC and I can go to websites with bad stuff about Vanderbilt sent in by customers and fax it to them, just to let them know how bad they really are. Maybe we all can do that. Fax to 1-865-380-3418.

Company: Vanderbilt Mortgage And Finance
Country: USA
State: Tennessee
City: Maryville
Address: 500 Alcoa Trail
Phone: 8653803000

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