Complaint Review: Vanderbilt Mortgage And Finance - Sioux Falls South Dakota
- Vanderbilt Mortgage And Finance P.O. Box 9800 Sioux Falls, South Dakota U.S.A.
- Phone: 800-970-7250
- Web:
- Category: Mortgage Companies
Vanderbilt Mortgage And Finance overcharged charged intrest on intrest changed intrest rate there are other companies this has gone through Sioux Falls South Dakota
*Consumer Comment: I ALSO HAD THE SAME PROBLEM FOUND OUT THEY ADDED CREDIT LIFE PREMIUM TO LOAN !!
*Consumer Comment: EXACT SAME HERE!!!
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We bought our Lexington, Skyline trailer in July of 1997. We paid $51,000.00 with a down payment of %5150.00. The unpaid balance is $46,350. Now our balance is $70,000 plus. It is a double wide, 4 bedroom and is in a trailer park where it is impossible to re-finance. We have tried to find out why the extra money is coming from and are told we borrowed money on it to pay off a credit card or something but no one has papers and can't show us where. About 5 or 6 different companies have owned this contract of ours. Vanderbilt has it for the second time.
We bought it from Countryview Mobile Homes, in Sioux Falls, So. Dak. to begin with. I am trying to find the original bill of sale and called a guy in Sioux Falls who is the owner of the place as I understand now. I talked to him once and he said he thought he would have it somewhere and I gave him the month, day and year of the sale. I called him a few days later and left a message, and a few days later another message with no reply. I left a message with someone at the office a few days ago again and I still have not heard from him. His name is Craig Swier. Everytime I call anymore, I am told he is gone to lunch etc, but never get a return call.
Our price has gone as high as $78,000 plus. Our payment is $763.93 per month and we owe more than when we started. Chase Manhatten had the contract once and we were sending $100.00 per month extra for a year to pay on the principal. We called about it and found that it was in another place where they had put it because they did not know what it was for.
We don't know if we were ever given credit for it or not. We can't find out from anyone else because they all say that the other company should have the papers. No one seems to have them. I reported this company to the Attorney General's Office in Pierre, So. Dak. but they would do nothing.
We are keeping on it and making payments. We have not missed or been late with a payment since we bought the trailer in July of 1997. Still we have twice as much left as when we started.
A friend in Ohio told us it looked like someone had added the intrest on twice. This is something that she deals with I guess. A friend of ours who used to live in Sioux Falls and is also dealing with Vanderbilt for different reaasons and has a law suit against them.
We have had trouble with leaking water faucets but had insurance and got it fixed for the most part. The plumber and the guy who did the estimate work together I understand. The plumber I am told won't be allowed back in the court because of his practices too.
I am in this thing for the long run, but I will not quit. I am with anyone who wants to fight these people. Let me know what you want me to do and I will do it.
Lawrence
Sioux Falls, South Dakota
U.S.A.
This report was posted on Ripoff Report on 02/07/2007 08:27 PM and is a permanent record located here: https://www.ripoffreport.com/reports/vanderbilt-mortgage-and-finance/sioux-falls-south-dakota-57107/vanderbilt-mortgage-and-finance-overcharged-charged-intrest-on-intrest-changed-intrest-rat-234987. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#2 Consumer Comment
I ALSO HAD THE SAME PROBLEM FOUND OUT THEY ADDED CREDIT LIFE PREMIUM TO LOAN !!
AUTHOR: Vicki - (U.S.A.)
SUBMITTED: Wednesday, August 08, 2007
Me and my husband purchased a 30 by 80 manufactured home price after downpayment 56,000.00. It was financed through Assiocates Housing Finance May 12, 1997. Ask if we wanted credit life insurance said we would like to have it was told and insurance agent would come out and talk to us. Salesman told us that if we got the insurance that a 36.01 payment would be added to our loan payment for the first 120 payments of the loan. We never heard from any insurance agent but the 36.01 insurance payment was added to our loan payment.
For seven years I call Associates finance I was yelled at told I was crazy and ask why I kept calling about and insurance that I was not paying for. That there was no insurance added to my loan. I ask for the name of the insurance company that the 36.01 payment was going to and where the policy was.
Time and time again I was told that I was not paying for insurance. the contract my husband signed and was given a copy of did not show we got the insurance just that we checked we would like to have it. Then I found they were being sued for adding credit life insurance to peoples loans with out them knowing about it. Aslo adding other charges to the loans as well they lost the law suet in 2004 in the amount of 215,000,000.00.
We were not get in on the law suit because they had it in the computer that we did not have insurance added to our loan. But I kept on trying to find someone that would tell me why I was paying this 36.01 for insurance but was told over and over again that I did not have and was not paying for any credit life insurance.
Then in August of 2004 I called Associates again and got lucky in a way. The guy who answered was a new employee he went over my contract with me. It was then that I found out that on May 13, 1997 the day after my husband signed the contract they re did the contract and added in a 3,695.03 insurance premium to our loan. The guy ask me to fax him a copy of the contract I had so he could try and find out what was going on.
But by the time I got to a fax and called back to see if he was going to be there to get it. The lady who answered the phone would not let me speak to him started yelling at me and hung up. But he was kind enough to send me a copy of the contract he had on file showing where they had added the insurance to our loan.
The first loan pay off was bad enough on a manufactured home at the amount of 232,134.00 to find out that by them adding this 3,695.03 premium to the loan added another 14,964.00. Making the payoff amount around 242,654.00 on a 4 BR 30 by 80 manufatured home that the land was not even included.
After filling complaints with the state insurance commissioner and the state banking and finance department. That there never was and insurance policy written in my husband 's name for any credit life insurance or any othe insurance that we were being charged. We also found out that the did the loan backwards
financing the loan with the down payment still added in along with adding in the premium for insurance not once but 4 time's. They were ask by the Department Of Banking and finance to detail how they did this loan.
But of course they didn't but said they would try and correct it. Well they didn't correct it instead they sold our loan to Vanderbilt 2 weeks after this. Now we are living the hell all over again can't get any one to help even though I have proof of what they did. No one will refinance the loan because of the way it was financed.
If you do find someone that will take this company on please let me know.
Vicki
Lutherville, Georgia

#1 Consumer Comment
EXACT SAME HERE!!!
AUTHOR: Josilyn - (U.S.A.)
SUBMITTED: Friday, June 29, 2007
WE ARE HAVING THE SAME THING DONE TO US! OUR HOUSE...MY HUSBANDS GRANNY BOUGHT BACK IN 2001...BRAND NEW FOR $46,000! NOW IT'S 2007 THE GRANDPARENTS HAVE DIED AND IT'S IN THEIR ESTATE WITH A PAYOFF OF $60,000! THE HOUSE ISN'T WORTH $60,000 AND THEY KNOW THAT! THEY HAVE EVEN BEEN OUT HERE TO THE HOUSE. MANY PEOPLE HAVE TRIED TO ASSUME THE LOAN BUT THEY TURN EVERYONE DOWN! THEY DO KNOW THAT THERE IS OTHER PROPERTY IN THIS ESTATE THAT THEY COULD JUST TAKE AND THAT'S WHAT THEY WANT! HOW CAN WE STOP THIS? THIS JUST PISSES ME OFF THE WAY THIS COMPANY OPERATES!


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