Vanderbilt Mortgage. Clayton Mobile homes, Purchase mobile homes with alternative bank, Vanderbilt will burn you. Internet

 I have been a good customer of Vanderbilt Mortgage for 13 years, and yet when I requested a loan modification due to loss of income, they turned me down.  My interest rate is 10% when I got the loan, I had a 700+ credit score. Due to the high payments I have to make on my mortgage with Vanderbilt, and the fact that my income has been reduced I am falling behind on my credit cards and my credit score has gone down.  I was advised by a phony loan mod company to let my house payment fall behind so they would work with me on a loan mod. That made things worse, my score went down more, and I still got no loan mod.  Be careful whose advice you take when it comes to loan modification, some of these people are just flat out liars.  They told me they had dealt with Vanderbilt before and would get it all worked out for me.  Charged me eight hundred dollars just for sending me paper work I had to fill out and file with the loan company.  I learned a valuable lesson.

Vanderbilt does not work with loan modification companies at all, and if you believe anyone who says they do, you will get burned. By both them and Vanderbilt Mortgage.  If you want to buy a mobile home, go to your local bank or credit union first.  If you then decide to buy one, make sure it is on a permanent foundation. You will not be able to get financing otherwise.  Research your choices first, don't let the sales people con you into buying through their easy financing methods.  You will find that you are in control of your situation, instead of them.  

Home loans for stick built homes are available with any bank, but there are few who finance mobile homes for a reason. They are pretty to look at, but they will not stay that way.  The materials are not as high of a quality,, they are not required to be, because they are ready to move and repossess able.  If you then still buy a mobile home, find another way to finance besides the company owned finance company.