For years my husband and I had tried to buy a house. Then we assumed a loan for a double wide mobile home that a friend of ours could not afford. For the first year we made the payments on time, even though we were in a legal battle over the land the home was to be put on.
Finally, we were able to set the home up in a mobile home community and had to pay to move the home and have it connected to the electric and water and septic; so we were late making ONE payment.
Well, the calls started coming in 3-4 a day, even after I told them that the payment would be made the following week on my payday. Since that one payment was late, I was changed from making bi-weekly automatic payments, to a larger monthly payment.
Ok. Now, in the past year they have lost 2 checks (which I had to pay the stop payments on), and a money order. Do you know the hell you have to go thru to get money back on a money order???!!!! It's almost IMPOSSIBLE! Each time they lost the payment, I was called at work and told to be at the office with another payment before 5:00; which meant I would have to leave work early and lose money. I have received notices of default twice in the past year, each time because they have lost my payments. And it's amazing that months after I'd cancelled the checks, they have actually tried to cash them, then called me & my family members to question why the payments were stopped!!
The supervisors to the collection dept. reps are ten times more ignorant than the reps themselves. I've already dealt with 3, and none of them are the least bit willing to cooperate or at least be considerate in collecting the payment. We pay our bills, and don't want to lose our house, but are ready to sell simply to get away for Vanderbilt. I can tell you that I have worked in the mobile home mortgage business, and NOT all companies are as ignorant.
I know several collectors that are polite and willing to help adjust your account from late fees as long as you make the attempt to make your payments. If you are in a position that you can refinance your loan with any other company, I SUGGEST YOU DO SO!!!
Since my account has been cleared up and I've repaid the payments they have lost, Vanderbilt Mortgage calls my grandmother EVERY MONTH for the entire week BEFORE my payment is due. They do not call my home, or try to contact me in any way, and when I asked them to stop harrassing my grandmother, I was told that they can call her until SHE tells them to stop! She will not tell them that since she doesn't know that she can, and since she feels that she is doing me a good deed by passing the messages on to me. Since last December, when a pair of reps came to my door and told my husband that we needed to start to packing our "s**t" and get the "hell" out of their home (this due to them LOSING OUR PAYMENT FOR THE THIRD TIME!!!!), will we pay before our payment is due.
I make my payments on the 15 of every month, and they will not ever receive it sooner than that!
LET ME TELL YOU....the collection reps are so rude because they figure rudeness and threats will get you to pay early!
EACH MONTH THE COLLECTION REP HAS A QUOTE THAT HE/SHE MUST MEET....IF ENOUGH PEOPLE PAY EARLY -THEY GET A BONUS CHECK!!!....IF ENOUGH PEOPLE PAY ON TIME - THEY GET A BONUS CHECK!!! IF A REP EVER HAS A MONTH THAT EVERY CUSTOMER ON THEIR LIST MAKES THE PAYMENT ON TIME, THEY GET A FAT BONUS CHECK!!!! I know this for a fact since I know several people that work for Vanderbilt!!!!
I will never pay early as long I have this loan. Unfortunatley since they have lates reported on my account, I cannot refinance until I have a year of my payments showing being made on time. But I do plan to refinance as soon as possible! Another screw up that Vanderbilt has made is that they do not show the correct property address on my insurance for the home.
I have called three times and had it corrected, and it still isn't fixed! So, I'm sure that I am over paying for insurance, and hope that I never need to make a claim until it is corrected!!!! Let me give some more information for you, don't worry that if you miss one payment they will take your home!
There are legal processes to it all, and you can get most of them from reading your contract, and checking into the repossession and foreclosure processes in your area. Check whether your loan is a mortgage loan or a Retail Installment Contract loan. My loan is the latter, which basically means that it is more like a car loan than a mortgage loan. They can repossess, but in my state, they must give me notice of default, which gives me a chance to make the payments first.
If they ever tell you that they are in the process of repossessing or foreclosing your home, call their legal department and ask to speak to someone. THey are more willing to help save your loan and when I called, they had not received my file yet and still were able to help me settle the mess!!
Good luck, and remember, there are thousands of others that feel your pain, LITERALLY!!!