Vanderbilt Mortgage
Rip-off, ridiculous interest rates, payments go up every year, refuses to refinance

In December I bought a house from Clayton Houses in Whiteville, NC and was funded through Vanderbilt Mortgage at an interest-rate of 10.24%. I applied my acre of property which was taken care of to secure the mortgage. I had been informed that since I'd some credit issues that easily created my funds promptly for that first-year that I really could later get refinanced in a greater rate of interest.

the very first 24 months I created every cost promptly so when I attempted to refinance they explained that I really couldnot refinance which I had been caught using the rate of interest of 10.24%. I began getting letters informing me that my cost was rising due to insurance escrow even though original mortgage that I closed mentioned that my funds could be 748 per month for 20 years. I have had the mortgage for 3 5 decades and my funds have increased to 877 per month.

I was never informed that my cost might increase each year when I closed the agreement or I'd haven't authorized it as well as each time I am a couple of days late they contact and frighten me. I have attempted to obtain solutions on why my mortgage went up thus significantly but no-one can appear to provide me-any great solutions apart from it is insurance escrow. Only at that price in a couple of years I'll never have the ability to manage my monthly obligations. I actually donot know anybody who's spending nearly $900 per month on the 76,000 mortgage. Vanderbilt went as far as to deliver anyone to my home and virtually beat down my door.

I had been so frightened that I put within the room and also the man they sent was calling my home and making unpleasant communications when used to donot create a cost that I'd need to get out-of my home despite the fact that I had been just thirty days behind and also the lady who harrasses me constantly has confronted me often that I'd be living about the road plus they were likely to consider my property from me. I believe that they're attempting to place me into foreclosure to allow them to promote my home and my property and earn more income onto it.

Does anybody understand whatis truly happening here? I'm battling to maintain this house not only due to the worth of the property that I own but due to the emotional importance of the property because it was something special from my boy who's within the military and helping in Iraq. Vanderbilt appears to be placing the screws in my experience each time I change and that I cannot afford to keep spending this rediculous price and continue being harassed each month. I've investigated replacing having a handful of additional creditors but was informed they were not ready to refinance current Vanderbilt clients. What type of fraud are these folks operating? Can somebody please support?

Company: Vanderbilt Mortgage
Country: USA
State: Tennessee
City: Maryville

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