Vanderbilt Mortgage & Finance Complaint: Loan servicing, payments, escrow account

#1408539 5 Jun 2015

Mortgage Conventional fixed mortgage

Complaint #1408539 submitted on 06/05/2015 relating to Vanderbilt Mortgage & Finance. Complaint relates to Mortgage Conventional fixed mortgage - Loan servicing, payments, escrow account .

Complaint was submitted via Web and sent to the company on Tuesday 9th June 2015.

Narrative (may be redacted).

I am XXXX now and badly needing help. I have been a good customer with Vanderbilt Mortgage since XX/XX/XXXX. I paid off the XXXX home in full with them. Then the outlawed grey pipes burst and destroyed the home. They convinced me under duress to put up my land for a downpayment on a new home. In XX/XX/XXXX, I started making payments regularly on my new home. After a good number of years, they made an accounting error and did not pay my land taxes or insurance escrow for a year. They demanded that amount of around {$4000.00} be paid immediately by me. I did not have it. Finally, they let me slide on their mistake for a year, then demanded it again. I did not have it. So they FORCED me into an in house loan modification. They did not lower the interest rate. They barely lowered the monthly payment, made me sign a note that threw my mortgage into a full brand new 30 year loan! PLUS they added a {$20000.00} balloon note on the end. The over 8 years of payments I had made which was mostly interest, VANISHED!!!! Now I recently had to lower the amount of insurance I needed on this home, to an amount that is not nearly enough, in order to make the INCREASING payments they are charging me. I am almost XXXX years old and can no longer work. My income is vanishing. I would be XXXX years old if I lived to pay this piece of junk falling apart XXXX/VANDERBILT home off. I LOVE my land and do not ever want to have to move. I have lived here 18 years. I am TERRIFIED I will end up losing my home. They have XXXX me worse than I have ever been XXXX in my ENTIRE life!!! I look at the new statements and out of an approximately a {$1200.00}. payment, only {$87.00} is going to the principal. The woman named XXXX who did this to me, is no longer there after telling me she would be there for the rest of her life. Is she in jail? She should be. XXXX I desperately need help and so I called the XXXX XXXX and they told me to come here. Please I beg you to help me. The original loan should have been paid off in 15 years. How on earth is this possibly legal? It can not be legal. I have been preyed upon and they also told me that if I did a land home package, it would increase in value like a REAL house as it would be legally " attached '' to the land. Well, they did not put it on a concrete foundation, so no one will refinance me. There are so many scammers out there saying they are HARP but they are not. NO XXXX will refinance me because of the way they set this whole scam up. IT WAS THE WORST SCAM AND I SEE THAT I AM NOT ALONE. JUST XXXX VANDERBILT AND XXXX HOMES. PLEASE help me! I am more than desperate. XXXX

Have you dealt with Vanderbilt Mortgage & Finance?

Leave your comments and feedback below.