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.