Vanderbilt Mortgage
Payoff equals original price under Bubba Plan, no loan statements sent

I bought a mobile home that is financed by Vanderbilt Mortgage and was tricked into accepting the Bubba Plan because it was supposed to help me pay it off quicker. I recently inquired about the payoff and found out that now, in 2006, my payoff is the price of the home when I accepted this plan. In other words, I will be paying twice the value of the home. The person I spoke with at Vanderbilt said I signed the papers so I am obligated to make the payments. I asked to refinance and was told they cannot grant this request.

They said they can change the plan, which I accepted because it keeps the payments from increasing every year. I also asked if they could start sending me documents that show the payments made and the balance of the loan, and was told they do not do this. I cannot know anything about the loan unless I call them and get shuffled around to different people. I just changed banks again and was trying to contact them, but the phone never gets answered. They said they have to set up payment to come out of my bank account monthly or my account will get messed up. I have faxed them many papers before and they said that they were never received. They have caused my previous bank account to go into overdraft, which I am still trying to bring current. From conversation with some of their clerks I have come to believe they do not do their jobs like they should.

Company: Vanderbilt Mortgage
Country: USA
State: Tennessee
City: Maryville
Address: 500 Alcoa Trail
Phone: 8009707250

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