Vanderbilt Mortgage And Finance overcharged charged intrest on intrest changed intrest rate there are other companies this has gone through Sioux Falls South Dakota

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

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!