I've been sitting here reading all these negative things about Vanderbilt Mortgage, having happened on this site looking for their site. I cannot believe what I'm reading.
I've had a mortgage with them for several years now and have never, ever once been harassed by them for a late payment or threatened in any way whatsoever. When a check that I'm given by another person bounces and makes my account short, causing my automatic draft of my mortgage payment to kick back on them, they've always been helpful and understanding. They've always given me the extra few days to get the money together. When twice my direct deposit didn't go in because the controller "forgot" to push the button and nobody got paid, they were again very understanding. They didn't even ask for verification from the company I work for, even though I sent it anyway.
I've even been nearly 30 days late once due to lack of hours at work and was never, ever threatened with the repossession of my home.
Any increase I ever saw due to increase in insurance escrow was never more than a dollar or a dollar and a few cents. Twice now, it's even gone down and they always send me a breakdown every single year.
My payoff has steadily decreased from the original loan amount and by a substantial amount as was expected by the terms of the loan. The first couple of years are all interest and you'll find that with any loan... Car, home or other. But after that, there is a definite decrease in the original and I've seen it.
Could it be that those who had loans bought by Vanderbilt from other companies did not realize the full extent of their loans with that first company? My loan has always been with Vanderbilt and I would use them again to purchase another home, and recommend them to anyone who needs a manufactured home loan. All of their people have been pleasant and helpful anytime I've called. And they have NEVER threatened me after only 15 days late with a payment.
I think some of this is really unfair to Vanderbilt and not the whole of each story is being told. There are three sides to every story... One side, the other side and the truth. The truth for me is, they've been wonderful when they could have rightfully done differently when I was late.
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