Complaint Review

Vanderbilt Mortgage And Finance

Report: #174610

Submitted:
Fri, February 03, 2006
Updated:
Mon, June 08, 2009
Reported By:

Jacksonville Florida
Name:
Vanderbilt Mortgage And Finance
Address:
500 Alcoa Trail Maryville, Tennessee U.S.A. Phone:
865-380-3000
Category:
Mortgage Companies

Vanderbilt Mortgage And Finance ripoff Maryville Tennessee

*UPDATE EX-employee responds: Incorrect info

*Consumer Comment: i have name address phone numbers and name of all attorneys and have dealt with on these matters

*Consumer Comment: Vanderbilt Mortgage Lawsuit information

*Consumer Comment: Vanderbilt Mortgage Lawsuit information

*Consumer Comment: Vanderbilt Mortgage Lawsuit information

*Consumer Comment: Vanderbilt Mortgage Lawsuit information

*Consumer Comment: retroactive gouge insurance

*REBUTTAL Individual responds: i am too a victim/ insurance claim and lies

*Consumer Suggestion: VANDERBILT DISGUSTING LIARS

*Consumer Comment: VANDERBILT MORTGAGE THEY NEED TO BE STOPPED!!!!!!

*Consumer Comment: vanderbilt mortgage

*Consumer Comment: vanderbilt mortgage

*Consumer Comment: vanderbilt mortgage

*Consumer Comment: vanderbilt mortgage

*Consumer Comment: class action isn't the way

*Consumer Comment: I HAVE BEEN THERE

*Consumer Suggestion: Insurance Problem

*Consumer Suggestion: Let me get this straight

*Consumer Comment: i know how you feel

*Consumer Suggestion: Is the attorney legite?

*Consumer Suggestion: constomer suggestion

*Consumer Comment: Yes, I would like to join

*Consumer Suggestion: Vanderbilt Mortgage

*Consumer Suggestion: Vanderbilt Mortgage

*Consumer Suggestion: Vanderbilt Mortgage

*Consumer Suggestion: Vanderbilt Mortgage


I bought my mobile home and land package in 1997 with Associates Housing Mortgage. Recently I have learned that Associates sold the mortgage to Vanderbilt Mortgage company. Since than, everting has went down hill. I get harassing phone calls from Vanderbilt both at home and at work stating that I don't have insurance and therefore I will be required to pay the back insurance all the way back to when Associates had the loan, about 10 years worth. I got the mortgage with Associates for 85,000 and when I last call Associates to see what the balance of the loan was they told me it was 73,000. Vanderbilt call me the other day and stated with all the back payments in insurance and late fees going all the way back with Associates, that all of that will be added to my mortgage bringing my mortgage back up to 85,000. So I have paid on this home for 10 years and still owe the same amouth as when I began. The VMF customer service rep was the most rode, nasty talking person that I have ever had to deal with. She was more on line of a bill collector than anything else. She stated that my payment was going up to, she seemed to enjoy that laughing while she talk to me. She said, yes indeed, your payment is going up from 746.00 to 881.00 per month. I ask her why, she stated that it was going to be put in an esscrow, for taxes and insurances. I tryed to explain to her that I'm paying taxes and insurances, she replied, not any more. I also asked her why they were tacking on money to raise my mortgage to 85,000, she stated that it was because of bad management practices from Associates, thats why they are not in bussiness any more.

There has to be something we/me can do about this company. I have been researching the company's reputation and it's pretyy bad, but we need every ones input on this company. With this company being so bad, there's only 163 complaints filed with the BBB. According to the BBB all 163 complaints have been takened care of. This is not right, we need to get togerher on this company and take legal action against Vanderbilt Mortgage.

I have a fax in my PC and I can go to web sites with Vanderbilt on the bad stuff sent in by customers and fax it to them, just to let them know how bad they really are. Maybe we all can do that. Fax to 1-865-380-3418.

Eugene
Jacksonville, Florida
U.S.A.

This report was posted on Ripoff Report on 02/03/2006 12:13 PM and is a permanent record located here: http://www.ripoffreport.com/r/Vanderbilt-Mortgage-And-Finance/Maryville-Tennessee-37804/Vanderbilt-Mortgage-And-Finance-ripoff-Maryville-Tennessee-174610. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 25Consumer 1Employee/Owner
Updates & Rebuttals

#1 UPDATE EX-employee responds

Incorrect info

AUTHOR: Catherine - (U.S.A.)

"associate housing & vanderbilt mortgage are owned
by citifinancial & citi corp, the reason that our
loans were taken over by vanderbilt mortgage is"


This is not true, Vanderbilt Mortgage is not owned by Citifinancial or Citi Corp, It is owned by Warren Buffett and is a division of Clayton Homes.
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#2 Consumer Comment

i have name address phone numbers and name of all attorneys and have dealt with on these matters

AUTHOR: Leigh - (U.S.A.)

associates housing did not really sell our loans to vanderbilt. associates housing had a class action suet taken out on them in 2001.

the law suet was taken out by a law frim in californa & the ftc. federal trade commission
they lost the law suet in 2004 in the amount of
215,000,000.00. for complete details go to this
web site,

associate housing & vanderbilt mortgage are owned
by citifinancial & citi corp, the reason that our
loans were taken over by vanderbilt mortgage is
because of the law suet the shut associates housing down.

i have been dealing with the attorney at citifinancial and vanderbilt. i also have had a hard time finding and attornety to help me
fight them because of the cost it takes

to fight the amount of lawyers the big companies
have working for them.but every one needs to
start filing complaints with the following
federal trade commission, your state governor.

state banking and finance department in the state you live in, the insurance commissioner,
these agencies want to help but they have to
have so many complaints first.

so please every one who reads this please start calling and making formal complaints with all of the agencties i have listed. alone no one can fight this company.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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#3 Consumer Comment

Vanderbilt Mortgage Lawsuit information

AUTHOR: Janell - (U.S.A.)

Hello to all!
I have been following many of the Rip Off reports regarding Vanderbilt Mortgage and Finance company. I myself and my family were victims of the horrible harrassment and degrading phone calls from the company, ending in an illegal reporsession.

We were lucky enough to find an attorney here in Dallas to take our case. We are not part of a class action suit, but we are the plaintiffs in the action. We are suing for harassment and illegal reposession. I could go on and on about the wrong that was done, but I will just let you know that there are attorney's out there that are willing to fight companies like this.

We go to court tomorrow, (6/27/06) and I will update you all with the results!! You all hang in there, this company is NOT GOD!
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#4 Consumer Comment

Vanderbilt Mortgage Lawsuit information

AUTHOR: Janell - (U.S.A.)

Hello to all!
I have been following many of the Rip Off reports regarding Vanderbilt Mortgage and Finance company. I myself and my family were victims of the horrible harrassment and degrading phone calls from the company, ending in an illegal reporsession.

We were lucky enough to find an attorney here in Dallas to take our case. We are not part of a class action suit, but we are the plaintiffs in the action. We are suing for harassment and illegal reposession. I could go on and on about the wrong that was done, but I will just let you know that there are attorney's out there that are willing to fight companies like this.

We go to court tomorrow, (6/27/06) and I will update you all with the results!! You all hang in there, this company is NOT GOD!
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#5 Consumer Comment

Vanderbilt Mortgage Lawsuit information

AUTHOR: Janell - (U.S.A.)

Hello to all!
I have been following many of the Rip Off reports regarding Vanderbilt Mortgage and Finance company. I myself and my family were victims of the horrible harrassment and degrading phone calls from the company, ending in an illegal reporsession.

We were lucky enough to find an attorney here in Dallas to take our case. We are not part of a class action suit, but we are the plaintiffs in the action. We are suing for harassment and illegal reposession. I could go on and on about the wrong that was done, but I will just let you know that there are attorney's out there that are willing to fight companies like this.

We go to court tomorrow, (6/27/06) and I will update you all with the results!! You all hang in there, this company is NOT GOD!
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#6 Consumer Comment

Vanderbilt Mortgage Lawsuit information

AUTHOR: Janell - (U.S.A.)

Hello to all!
I have been following many of the Rip Off reports regarding Vanderbilt Mortgage and Finance company. I myself and my family were victims of the horrible harrassment and degrading phone calls from the company, ending in an illegal reporsession.

We were lucky enough to find an attorney here in Dallas to take our case. We are not part of a class action suit, but we are the plaintiffs in the action. We are suing for harassment and illegal reposession. I could go on and on about the wrong that was done, but I will just let you know that there are attorney's out there that are willing to fight companies like this.

We go to court tomorrow, (6/27/06) and I will update you all with the results!! You all hang in there, this company is NOT GOD!
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#7 Consumer Comment

retroactive gouge insurance

AUTHOR: Tom - (U.S.A.)

Yeah......

So Vanderbuilt is charging this guy a bunch of back insurance on a mobile home huh. Forced insurance to 'protect their interest' .

Protect it from what? RETROACTIVE TORNADOES? Protect it from what? default against PRIOR property damage?

Heres the thing. I quick home inspection at the time of this writing , to PROVE there is no damage, and current home insurance has GOT to be good enough for these pricks.

but it wont be will it? No. They will use it as an EXUSE to say ...........you needed insurance so we 'provided it' for you for all these years but never told you we were doing it.....

Now we present you a HUGE bill cause you are a stupid homeowner and dont know the difference.

Well tell you what....... charging some guy YEARS AND YEARS of back insurance that is no longer valid that he knew nothing about for rates he has no say in -IS ILLEGAL.

Forced insurance is for the present. Once he proves he has current insurance, you are required by law to DROP THE FORCED -100% pure profit kickback bullshit insurance.

Let me know when the court date is -where you proceed to tell the judge of good standing how the homeowner didnt pay home insurance for 10 years, so vanderbuilt decided to BACK CHARGE HOME INSURANCE AT THEIR INFLATED RATES for insurance that is IN THE PAST and therefore has no use now.

Say it with a straight face and see what a judge says about that.

This is one of the BIGGEST true ripoffs i have ever seen on this site.

Again, do you honestly expect the state to charge 'retroactive auto insurance ' on a guy who drove around for 20 years without a licence?

What an ripoff gouge for whatever you can get...........
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#8 REBUTTAL Individual responds

i am too a victim/ insurance claim and lies

AUTHOR: Sharon - (U.S.A.)

I bought my home 4 years ago and it is in one of the best parks that is in knoxville, tn. Recently i filled a insurance claim for water damage on my walls in the master bedroom. I have been giving the run around from the insurance company, vanderbilt and the park manager. I paid the so called insurance for the last four years and yes it was put into escrow but it really does not pay any thing. I am not behind on my payments but it is now been two months and know response but two letters. One was to tell me a adjuster would be at my home to take pictures. There is no adjusters for this company, the park manager came out and took pictures. Then no word again for at least three weeks. We now have mold damage on the carpet and the inside walls that the master bedroom and bathroom is shut off from the house. I talked with a vanderbilt rep, all he cares about is the mortgage note. He proceded to tell me that he had nothing to do with the insurance company but the insurance company has the same address as the mortgage company, and why would a rep that is the park manager come to my home to take pictures if he was not involved with the insurance company. My payment is about due on my home, but my family and i are starting to get worried about the black mold growing, i sent a video last week to all the parties involved and there was no responce but i am sure that when the 15th gets here i will get the threatning phone calls about my payment being due. I have tapes for the big guys at vanderbilt and i will be sending them out, but soon i will just have to leave and guess i will call the news and the health department to condeme my home because no one cares the insurance company that handles these homes does not have injusters, they use the park managers and they said they would send a investigater to my home on the last letter two weeks ago guess who showed up the park manager to take pictures of the outside. I paid alot down on my home and i have been paying the escrow for the home and it just doesnt pay. Dont buy from this company they own the bank, insurance company all the parks and they have the rudest reps even if you are doing the correct thing by paying your insurance. It is a scam company and know i know that i could have bought a house and dealt with a real mortgage company. Dont be fooled by the nice park and the way the salesmen act they are trained to steal from individuals. its been two months and no help with the mold damage but i guess they will win and took all the money i have paid for four years not counting the big deposit i put down. Good luck if you belive in this company, i dont but i am holping the news media will care.. I know that warren buffets cread to his employees is dont do anything to wake up in the morning to see your name in the paper. Its going to happend soon because you can not do this to individuals that are hard working christians and not expect someone of the higher power to take care of them.
Warren buffet and Clayton should be so proud i bet their familes do not live in a mold home and that their familes are not exposed of this.
Good luck to all that deals with anything from this company.
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#9 Consumer Suggestion

VANDERBILT DISGUSTING LIARS

AUTHOR: Beth - (U.S.A.)

Elijah, I feel for you. You have no idea what Vanderbilt will do to you once they have you sucked in. There are no other lenders, Vanderbilt has cornered the market. And if you do get another lender you will go through H*** to get a payoff from them. I'm still waiting call them every single month, just to keep them in line. They are the worst, company wise, customer service wise. When I was going through a tough time a year ago I had a customer service rep tell me to move in to my car and vacate the home. I told him where to go... Good luck, you will be posting out here right along with the rest of us before too long....
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#10 Consumer Comment

VANDERBILT MORTGAGE THEY NEED TO BE STOPPED!!!!!!

AUTHOR: Lj - (U.S.A.)

I AM WITH ANYONE THAT AS A COMPLAINT!!! I KNOW FOR A FACT I AM LOOSING OUR HOME ON THE 24TH OF THIS MONTH! BUT I AM STILL ON BOARD WITH ALL YOU THAT HAVE FELL VICTOM'S TO THIS RUTHLESS COMPANY! THEY NEED TO BE STOPPED!!!!!!
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#11 Consumer Comment

vanderbilt mortgage

AUTHOR: Lori - (U.S.A.)

Just because their different comments in the reponses doen't mean you can't go after them. By going after them with a lawsuit this will stop all the problems in all areas of this. because comments are made to vanderbilt it self and no one else so people listen to stop the problem you need to go to the problem and lets stop them with a lawsuit.
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#12 Consumer Comment

vanderbilt mortgage

AUTHOR: Lori - (U.S.A.)

Just because their different comments in the reponses doen't mean you can't go after them. By going after them with a lawsuit this will stop all the problems in all areas of this. because comments are made to vanderbilt it self and no one else so people listen to stop the problem you need to go to the problem and lets stop them with a lawsuit.
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#13 Consumer Comment

vanderbilt mortgage

AUTHOR: Lori - (U.S.A.)

Just because their different comments in the reponses doen't mean you can't go after them. By going after them with a lawsuit this will stop all the problems in all areas of this. because comments are made to vanderbilt it self and no one else so people listen to stop the problem you need to go to the problem and lets stop them with a lawsuit.
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#14 Consumer Comment

vanderbilt mortgage

AUTHOR: Lori - (U.S.A.)

Just because their different comments in the reponses doen't mean you can't go after them. By going after them with a lawsuit this will stop all the problems in all areas of this. because comments are made to vanderbilt it self and no one else so people listen to stop the problem you need to go to the problem and lets stop them with a lawsuit.
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#15 Consumer Comment

class action isn't the way

AUTHOR: Elijah - (U.S.A.)

I don't think you have class action material here. You all have so many different complaints.
It is not like they are doing one thing wrong and ripping off EVERYONE they do business with.
According to the BBB records it looks like they have went to hell over the last year or so, complaint wise. However they somehow settled most of those cases satisfactorily.

The trick IS to REFINANCE your loan with ANOTHER lender! It sounds like they suck as a company. I am very uneasy over all this as I am trying to close a 90% LTV loan with vanderbilt on 25 acres of land only that I just bought. It is disturbing to see how many foreclosed trailers vanderbilt has for sale all over the country for what looks like is pennies on the dollar.

I plan on paying them off with in a couple years
when I get the construction loan (WITH ANOTHER LENDER) to build the new house on the land.
They are not charging me a prepayment penalty.
So it is likely that most of you that have problems with them can pay them off without prepayment penalties. Lenders are a dime a dozen. Even if your credit score is a mere 500 you can get a new mortgage! and GET rid of vanderbilt.

If your credit has gone to h**l your interest rate may go up as mortgage rates have been incsreasing but how many of you would gladly pay an extra $100 a month to get rid of them?
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#16 Consumer Comment

I HAVE BEEN THERE

AUTHOR: Lori - (U.S.A.)

I have been there to yes we all need to get
together and file a lawsuit against the company
because my mobile home was repo back in 1999
the status is 6 years to file a lawsuit against
you. so i agree we need to band together and put
this company where in its place. people need not
be put low by other people that are bigger so
lets put our heads together and do something
about it.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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#17 Consumer Suggestion

Insurance Problem

AUTHOR: Kathleen - (U.S.A.)

Mortgage companies have to protect their interest. If you or your insurance company does not provide proof of insurance than they by law can take it upon themselves for put a lender's place policy and require you to pay it back either through escrow payments or tacked on to the end of your loan. The is perfectly legal. You contract requires you to put insurance on the home and if you don't than it clearly states that they will do it for you.
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#18 Consumer Suggestion

Let me get this straight

AUTHOR: Tom - (U.S.A.)

dear mobile home dude:

My name is Tom and i am a licenced mortgage broker. I need to see if i have this straight.

You say this Vanderbuilt is asking you to retroactivly pay home insurance for the last 10 years.

That would indicate from the numbers you pumped out to be about 1000 dollars a year to insure a mobile home. I doubt it.

Secondly, what the hell does back home insurance have anything to do with you today? Home insurance protects Vanderbuilt against loss due to damage to their lien, ie your home.

How can they ask you to retroactively buy insurance that cannot be used because its in the past. What the f--- is going on here?????

If you drive around in a car for 25 years and a cop finally stops you and gives you a ticket for driving without insurance, does that mean u owe 25 years of back pay for car insurance? Of course not.

You are trying to tell me someone SELLS retroactive insurance that is by definition EXPRIRED???? LOL.......... how can u collect on insurance that expires the minuite u purchase it?

In a court of law, how can a judge award 11000 dollars to a mortgage company that bought your loan , and demand backpay for home insurance u didnt have -when they didnt even own your loan??? WTF???

If your original post is really on the level, and these true s**t heads are feeding u this, get them to send you a statement of how much you owe on the house, itemizing what its for, then SUE THE s**t OUT OF THEM.

Trust me, as a business professional, I know for a fact they will either change their tune , or a judge will shut down their operations.

If they can get away with this horseshit , let me know, and i will start selling retroactive insurance.
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#19 Consumer Comment

i know how you feel

AUTHOR: Ranee - (U.S.A.)

Eugene,

I too am a victim of vanderbilt. I would be very interested in a class action law suit. I am already losing my home to vanderbilt. We are going for an arbitration hearing soon. Which you know what that means, we will have to move out of our home soon. Please let me know if you can find a class action lawyer.
Thanks and good luck
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#20 Consumer Suggestion

Is the attorney legite?

AUTHOR: Georganna - (U.S.A.)

For more than 10 years I have searched attorneys in several states looking for a representative to take on my case. I have been unsuccessful.
Vanderbilt is owned by Berkshire Hathaway out of Omaha, Nebraska. Berkshire is a client of at least one major law firm in every state. That law firm protects all of Berkshire's ventures. Oakwood, Vanderbilt, Geico, Kentucky Fried Chicken etc.
So, will you take this to state court? Only the victims of that state will be able to sue. What are the statute of limitations for that state? how many will be disqualified because of those statutes? Start up costs- just to file the paperwork in state court is going to run about $20,000. Do you have enough victims in that state? Will the law firm you hire have the revenue to carry the case and still do all the research?
So does that leave you with a federal case? Based on what law? There are very few, if any federal laws regulating mortgage ventures, they are not banks. Although Berkshire is an Insurance Company. Vanderbilt is not. It do not have to comply with the insurance laws that regulate it's parent company.
Find me a federal attorney, who has the revenue to carry the case forward and I will gladly contribute our finances.
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#21 Consumer Suggestion

constomer suggestion

AUTHOR: June - (U.S.A.)

I would like to get in on a class action suit too. In 1992 I tried to buy a mobile home to put on my property in TN. The mobile home was never delivered so it was all backed out, or so I thought. In 1994 I applied for a loan for a car and the Vanderbilt loan was on my credit report as being late on payments. I called,and thought it was taken out of my name. Then in 1999, I applied for a loan to buy a home. Again, it was on my report as an active account with payments being made. Again, I called those rude people at Vanderbilt. I was told that it would be taken care of.

Now, in 2006, I applied for a home equity loan and lo and behold, there it was again with only one payment left on the loan. I called again, and the man I talked to was again very rude and claimed that even though this showed on my credit report that I was making the payments, that it would in no way affect my credit. He must think that I just fell out of a Christmas tree if he thinks I believe that nonsense. Anyway, count me in on the class action suit.

Thanks, June
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#22 Consumer Comment

Yes, I would like to join

AUTHOR: Melissa - (U.S.A.)

I posted my own experiences (rather briefly) with Vanderbilt mortgage also,I have been suddenlly hit with insurance also, that has according to them put me into default. I believe there is definate cause here for a class action suit, not to mention I really would like to resolve some of my own mortgage note issues. Please help, it appears as though there are enough postings with enough continuity here to get something going. They are a malicious, un-ethical business, and in my opinion need to be stopped. Thank You
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#23 Consumer Suggestion

Vanderbilt Mortgage

AUTHOR: Beth - (U.S.A.)

Eugene, we all need to band together. I will send you a fax with some information. I received a message from Al in TN he is trying to put together a class action lawsuit against Vanderbilt. Are you willing to join? Anyone else? Beth
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#24 Consumer Suggestion

Vanderbilt Mortgage

AUTHOR: Beth - (U.S.A.)

Eugene, we all need to band together. I will send you a fax with some information. I received a message from Al in TN he is trying to put together a class action lawsuit against Vanderbilt. Are you willing to join? Anyone else? Beth
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#25 Consumer Suggestion

Vanderbilt Mortgage

AUTHOR: Beth - (U.S.A.)

Eugene, we all need to band together. I will send you a fax with some information. I received a message from Al in TN he is trying to put together a class action lawsuit against Vanderbilt. Are you willing to join? Anyone else? Beth
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#26 Consumer Suggestion

Vanderbilt Mortgage

AUTHOR: Beth - (U.S.A.)

Eugene, we all need to band together. I will send you a fax with some information. I received a message from Al in TN he is trying to put together a class action lawsuit against Vanderbilt. Are you willing to join? Anyone else? Beth
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