Vanderbilt Mortgage and Finance Company
Payment jumped from $400 to $493 after loan sold, constant calls

My wife and I bought our single-wide mobile home over six years ago. We were financed through another finance company. I myself have had other loans through this company before and I knew how their company operated and was OK with it. I did not like their interest rates, but at the time I was OK with it.

About nine months after we purchased our home, the company I was working for changed up their management and I found out right before Christmas that it was my last day there. That sucked. But at least I had gotten a severance package, which put us through the holidays. I found another job right after the first of the year and I am still there. Then things started going bad with the cars, and I had to spend a lot of money on them to keep them going. I had to start pushing around a few bills to pay for the repairs and found myself getting behind on bills further and further.

I decided after two years to try to refinance my mobile home, so I went to the bank and talked to the manager and gave him my information, and he said he would get back in touch with me in a couple of days. He called me at work and said that the house only appraised for $21,000.00. I told him I paid a little over $40,000.00 for it. He just told me that there was nothing he could do. I just said thanks for trying and told him goodbye.

People, we bought a top-of-the-line Palm Harbor Home. This house is really built well and we are happy with it too. You know it's really bad when you buy a house and it loses over $20,000.00 in just two years. I was really mad at this and did not know what to do about it.

About a year and a half ago I got a letter in the mail saying that the finance company I had was purchased by Vanderbilt Mortgage. I said, OK, so what! About a month later I got the payment book and almost fell out of my chair when I saw the amount of the payment. I had been paying $400.00 per month for the past four years and it had jumped to $493.00 in just a month, so I picked up the phone and raised total hell. They told me that was the payment under their terms and there was nothing they could do to change it. I cannot tell you how many harassing calls we have received from them since, but it was enough that we had to buy an answering machine to answer the phone for us.

We put our house in a mobile home park when we bought it. It's bad enough to have a high house note, but what is worse is to have high rent as well. They could not give any explanation for the increase, but I would love to stick both of my feet up their [expletive] and have a bunch of doctors have to remove them! These people are the biggest bunch of snobs I have ever encountered in my life. You cannot deal with them at all.

If there is a lawyer out there that is willing to file some sort of suit, write me an email and I will get in touch with you. There is no reason for what they are doing to us and all the other people they have harassed that have their homes financed through them. Especially the people of the Gulf Coast. My heart goes out to each and every one of you. You did not deserve what you got!

Walter
Shreveport, Louisiana
U.S.A.

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

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