Complaint #1589224 submitted on 10/01/2015 relating to Vanderbilt Mortgage & Finance. Complaint relates to Mortgage FHA mortgage - Application, originator, mortgage broker .
Complaint was submitted via Web and sent to the company on Thursday 1st October 2015.
I was under contract with a home that was foreclosed on by Vanderbilt Mortgage. I was preapproved for the contract price of {$110000.00}. My Lender obtained an FHA appraisal for my purchase of the property. The FHA appraisal came in for {$88000.00}. After XXXX extensions to my due diligence contract the asset Manager notified their selling agent and my buyers agent that they were canceling the contract and removing the home from the market since the appraisal came in so low, and I was told that the property would be removed from the market. I just saw the property listed for sale and called XXXX number listed. They are attempting to sell and finance a home that appraised less than 30 days ago for {$88000.00} for {$110000.00}. That is {$31000.00} upside down in this property and should be considered predatory lending. Mortgage and Real Estate professionals in North Carolina are to be held accountable for everything they do, Vanderbilt Mortgage needs to be held accountable for Predatory Lending Practices.
| Company | Vanderbilt Mortgage & Finance |
| Complaint ID | 1589224 |
| Date Received | 10/01/2015 |
| Product | Mortgage FHA mortgage |
| Issue | Application, originator, mortgage broker |
| State/ZIP Code | NC 284XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 10/01/2015 |
| Result | Timely Response: Yes, Consumer Disputed: Yes |
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