Vanderbilt Mortgage And Finance ripoff Maryville Tennessee

Vanderbilt Mortgage purchased my loan for a mobile home from JP Morgan who purchased it from Bank One...

Bank One and JP morgan sent me a new statement every month telling me what my pay off was. Vanderbilt did not, so I called for my pay off. They sent it to me in writing and included a $35.00 processing fee... I was not told about that fee when I initially called for the payoff amount..

When I called them I was told that fee is charged for processing the title work if you pay off a loan early. They couldn't tell me who it was paid to or why it would be needed...

So I concluded that they do that just to recover some of the interest that they would miss....

They did tell me that anything under $1,000 isn't charged that fee.... I plan on having this paid by the end of the year so I don't have to deal with them any longer... period.

I wish I had known about their business practices before hand.

Jane
Holly, Michigan
U.S.A.