My original mortgage was bought by Clayton/Vanderbilt. I have had my mortgage since 1998 and for 9 years paid my loan "On Time". Through a divorce, loss of a job, and then the economic turn down in the construction industry I found myself getting behind on my mortgage.
I have the moral aptitude to make good on my debts and stayed in CONSTANT contact with Vanderbilt even BEFORE I became late on the mortgage. I tried everything I could from putting my house on the market for over a year, trying to re-finance (but couldn't because of starting a business), to working something out with Vanderbilt in regards to a loan modification. They have absolutely REFUSED to do anything even though they have over 9 years of a good credit history with me. They have harassed, threatened and called me up to 7-8 times a DAY! I have always called them back, never ignoring them and tried to work with them to no avail.
The tactics that they use have made me go through 4-5 account representatives in less than a year because I refuse to be treated like I've never paid a bill on time in my life. I was even told that I needed to make my house a priority. I have two children that depend on me and my house and vehicle (to be able to work) are my ONLY priorities through this difficult time.
I have now contacted the HOPE Now program to try to get some help and have even contacted my US Senator about the abuses and shady way that this company does business. The National interest rate average is 5%. Most people that I know with a mortgage through Vanderbilt have a much higher rate than that, so there is room to move. I would advise anyone who is having a similar problem, conrtact the HOPE now program through HUD. If this does not change anythingg for me, I will be contacting my US Senator again for assistance.
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