Vanderbilt Mortgage
Charged for Insurance Despite Proof of Coverage and Inflated Payoff

I purchased my home in 1996 and financed it thru a different finance company. Vanderbilt acquired my mortgage a few years and it has been a problem every since. They have taken money from my monthly payment and applied them toward insurance for close to 2 years. I have made repeated calls to inform them I have insurance. I have had the insurance company fax them my insurance many times. This never gets corrected but always goes to research. Because of the way my interest is set up I am told that it goes up each day. With them taking insurance from my payment it appears that my payment is always behind which adds a lot of interest.
We set up automatic drafts for the payment and they second month they took 70.00 more than authorized. I had the bank refund the money and stopped the draft. The way I see this they owe me money for all the additional interest they have charged because of this.
I called again and was told its in research and in the mean time I am to pay the insurance. I have had the same insurance company for 4 years. Vanderbilt never gets it right I am convinced they are scam operators.
Finally I said enough and called to get my payoff. I was going to get it financed through a different company. Well surprise again. I hear that my payoff is 41,000. This is strange. I only financed 34,000 10 years ago. How can this be? Can anyone help? Is there a class action lawsuit I can join?
Good luck to all with this company,

Teresa

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

  <     >