On 12-5-06 my boyfriend and I signed a contact to buy a 16x70,1996, Clayton Ardmore Mobile Home for $19,274.50. The home was a repo so 21st Mortgage owned the home but since they are located in Tennessee, Trading Post Homes in Louisville, Kentucky was selling the home for them. So we signed the paperwork at Trading Post. That is why our contact doesn't have 21st Mortgages signatures.
We eventually moved from Louisville, Kentucky where the home is located to our present address in Illinois in March. We put the home up for sale for $18,500. We still had a balance of around $18,100 with 21st Mortgage at the time. We had a lady interested in the home and had gotten approved through Aaron Financial for the amount we were asking. We had gotten the loan documents ready to sign and have the home sold until we ran into a problem.
They had to do an inspection on the home and doing so found out the model of the home was wrong. The home is actually a Clayton Atlantis and not a Clayton Ardmore. The data plate inside the home plainly states Atlantis as the model. Aaron Financial then started they could only approve the loan for $14,000 now because that is what the home is really worth. The lady I spoke with at Aaron Financial said that under NADA, which is like Kelley Blue Book for mobile homes, an Ardmore now in 2008 is worth a base value of $14,512. An Atlantis is only worth $10,456.
We contacted Clayton Homes and they told us that they don't even make a Clayton Ardmore home! 21st Mortgage spoke to them as well and was told the same thing. We also had to pay 21st Mortgage $450 to have the home appraised before we purchased it. The appraiser clearly put Ardmore on the appraisal as the model and noted on it as well that he obtained that information from the data plate inside the home. Which says Atlantis on it so I'm not sure where he got that information of Ardmore being the model.
Neither 21st Mortgage nor the appraiser researched this information to make sure it was correct prior to selling the home. The appraiser told me he got the base value of the home through NADA that he listed on the appraisal. If they would have pulled up the serial # it would have shown Atlantis as the model but they failed to do so. They lied to us and latterly we signed papers for something that doesn't exist.
They told us they have done what they can to fix the problem by sending us a cure letter, but I don't believe that is right. We do have a FHA Title 1 Mobile home loan as well. We still believe we paid too much for the home. 21st Mortgage gave us many excuses as to how the problem happened.
The home was made in Ardmore Tennessee and that it was because the home was a repo its hard to get the correct information. Yet the data plate inside the home has the correct information, so why didn't they look at it? Whether they know it was wrong and was trying to make a quick buck or not its still unprofessional and something needs to be done. They kept insisting the model being wrong doesn't affect the price of the home. Yet our tax amount for the home went from 17,660 to 11,660. That ends up being a $70 difference on our yearly taxes we pay. Also the difference listed under NADA for the homes is a $4,000 difference. We have sent them all paperwork we have showing them this but nothing has happened.
At first the representatives at 21st Mortgage kept telling us that they didn't go off NADA for anything to get the value of the home. Then once I told them the appraiser told me that he used NADA to get the base value of the home listed on the appraisal and then added and subtracted amounts based on the homes condition, 21st Mortgage changed their story. They were now saying they used NADA in a combination with other things to get the amount.
I have repeatably asked them that if the appraisal has been done correctly, wouldn't it of made a difference in the price we paid for the home and I always heard not necessarily, never no. They said they used the appraisal and a combination of other things to come up with the $19,147.50 that they were selling the home for. Like the state its in, and other things. How can they guarantee us that we paid the proper amount when they used a document with incorrect information on it to help determine the price? Also they were sloppy in preparing the home to be sold.
There was plywood under the kitchen sink that you could tell had been wet and looked as if it was rotting. We had asked to have it replaces and were told it was to be fixed but it never was. Unfortunately we never had it in writing. Also we had a document stating a dishwasher was to be installed within 21 business days and that wasn't done on time. There was trim that was needed to cover the holes on each side of the dishwasher as well and we didn't receive those until we moved out in March. The big problem was the carpet. The carpet in our master bathroom started to bubble a few months after we moved in. The master bathroom and bedroom are connected except a separate room on the side with the stand up shower and toilet.
A few months later we decided to remove the carpet in the shower room and put tile down. Well to our surprise they had put carpet over an open-air vent right outside the shower, which was causing the carpet to bubble. We carpet now needs to be restretched to fix the problem. We informed 21st Mortgage of what happened but they just apologized and dropped it. They also carpeted over half the kitchen linoleum flooring and in the hallway. Also the garden tub in our master bathroom had the original carpet on it and they carpeted right over the old blue carpet that was in the home around the garden tub.
In the past few months we have discovered more.
Since the appraisal was done wrong, we are able to get the original appraiser to do another appraisal but my boyfriend and I just don't understand how he got the model he did in the first place. He had to of spoke to the mortgage company first and then just ignored what the data plate said. I don't trust him to do another appraisal.
I have filed complaints thru BBB, FTC, and Kentucky Attorney General. The BBB eventually said they can't do anything and that we need to seek legal counsel. We are unable to do that right now. We are paying for 2 homes, a baby, and I have recently lost my job. We believe there is legally more the mortgage company has to do to fix their mistake but they are refusing to do so.
At this point it has caused to much stress and hassle, we believe 21st mortgage should take the home back and sell it the way it should be sold instead of lying about what it was. We shouldn't be held responsible and be expected to keep paying on something we were lied to about.
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