• Report: #154955

Complaint Review: Vanderbilt Mortgage - Clayton Homes

  • Submitted: Thu, August 25, 2005
  • Updated: Thu, August 25, 2005

  • Reported By:Ash Grove Missouri
Vanderbilt Mortgage - Clayton Homes
500 Alcoa Trail Maryville, Tennessee U.S.A.

Vanderbilt Mortgage - Clayton Homes Ripoff, Stuck with an unsellable Mobile Home Maryville Tennessee

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I too had fallen victim to Vanderbilts Mortgage ripoff. I was getting a divorce in early 1999 and decided I didn't want to rent. Figured buying would be better so I wasen't just throwing money away. Unbeknownest to me that's exactly what I was doing when I agreed to Vanderbilts/Claytons finance agreement.

I bought a brand new unit in 2000 with a loan around 27000. Yes I signed the loan agreement and accept the liability of such agreement but what a huge mistake I had made.

I lived in the unit for a year and wanted to sell it. Could not come even close to what I owed and I lived in it myself and kept is as good as new. Here I owed 27000 and couldn't get an offer over 13000.

So here it is 6 years almost 7 years later, I still own it with around 21000 to 22000 still owed, supposedly at 10% interest and cannot even start to sell it. One of lifes little lessons I suppose and for a loan I would never recommend Clayton or Vanderbilt to my worst enemy !

Steve
Ash Grove, Missouri
U.S.A.

This report was posted on Ripoff Report on 08/25/2005 11:27 AM and is a permanent record located here: http://www.ripoffreport.com/r/Vanderbilt-Mortgage-Clayton-Homes/Maryville-Tennessee-37804/Vanderbilt-Mortgage-Clayton-Homes-Ripoff-Stuck-with-an-unsellable-Mobile-Home-Maryville-154955. 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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