Complaint Review: Vanderbilt Mortgage And Finance

If the home has already been repossessed and resold, I would assume it has been moved from the land if she owned it. If that is the case, not lot rent can be collected.

"Now 4 years later I find out that I have been charged property taxes on this home all this time."

Was the repo only for the mobile home or also for the land it sits on? Did you own the land or was it financed also? Look at the papers you are suppose to keep for at least 7 years. If the repo was only for the home you might still own the land and owe the taxes on it.

Someone owes the taxes and obviously no one else is paying them or the county/state wouldn't be looking to you.

Go to the county, not on the phone, go in person, and find out who exactly is the registered owner of the land and get copies of the land transactions.

If they say you are the owner, get copies and hire a real estate lawyer.

4 years of land rent, if you only charged $500 a month for 4 years the taxes would be paid and you would have a small profit.

"Now 4 years later I find out that I have been charged property taxes on this home all this time."

Was the repo only for the mobile home or also for the land it sits on? Did you own the land or was it financed also? Look at the papers you are suppose to keep for at least 7 years. If the repo was only for the home you might still own the land and owe the taxes on it.

Someone owes the taxes and obviously no one else is paying them or the county/state wouldn't be looking to you.

Go to the county, not on the phone, go in person, and find out who exactly is the registered owner of the land and get copies of the land transactions.

If they say you are the owner, get copies and hire a real estate lawyer.

4 years of land rent, if you only charged $500 a month for 4 years the taxes would be paid and you would have a small profit.

"Now 4 years later I find out that I have been charged property taxes on this home all this time."

Was the repo only for the mobile home or also for the land it sits on? Did you own the land or was it financed also? Look at the papers you are suppose to keep for at least 7 years. If the repo was only for the home you might still own the land and owe the taxes on it.

Someone owes the taxes and obviously no one else is paying them or the county/state wouldn't be looking to you.

Go to the county, not on the phone, go in person, and find out who exactly is the registered owner of the land and get copies of the land transactions.

If they say you are the owner, get copies and hire a real estate lawyer.

4 years of land rent, if you only charged $500 a month for 4 years the taxes would be paid and you would have a small profit.

Look, I work for VMF and you signed the contract when you bought the mobile home. Do you really think you can sign your name to something, pay on it a little while, and then let it go back like nothing happened??? Read the fine print.. When a home is repossessed...you are STILL RESPONSIBLE FOR THE DEFICIENCY BALANCE. Which is the difference between what is still owed and what we sell it for. If you didnt plan on paying for it, then you shouldnt have signed the contract!

I think we're both dancing around the same issue from a different viewpoint. You are entierly correct in that they first have to obtain judgment to enforce collection of the deficiency through involuntary means. They do not have to obtain jusgment first though just to dun Allison for the balance due & it seems from her posting that this is what they are doing prior to obtaining judgment for the balance due.

Banker John

At no time have I addressed the issue of debt collection. However, there is a process requisite and nessary, as provided by the law to repossess one. When due process is not given - people - such as Allison - get stuck with tax bill. In view of the fact she has a delinquent tax bill - she was not given due process. In the absence of proper service - the replevin/reposssession order can be vacated.

A manufactured home by legal definition is a "Motor Vehicle" and is titled as such.

Foreclosure, on a a manufactured home can only be done if the title has been surrendered to the auditor's office and converted to real estate.

As for the collection of a debt - it requires civil suit to be filed in court - this in itself has due process. Sorry!

Allison, you stated they (Vanderbilt)did contact you. Then you go on to state "Vanderbilt" sent it to the address of the manufactured home - knowing you had moved and would not get it.

Be this as it may be, the fact of the matter is replevin/repossession is legal process and you must recieve notice. Get the court case number and verify service. If it is noted service failed - you could compel - "Vanderbilt" to vacate the replevin/repossession order and re-file and notify you proper.

Even though "Vanderbilt" replevin/repossessed the manufactured home, before title can be issued in their name "Vanderbilt" has to pay all taxes due and payable. If the clerk of courts, auto title division issued title in "Vanderbilt" name prior to the issuance of the title - the court clerk that did so - did it mistakenly.

I wonder if it took four and a half years for them to sell the manufactured home, in face of the fact the auditor did not convey it to the new owner.

As for your credit - it will not fall off - it will more than not be listed as a charge off - which is not a good thing - should you ever apply for credit in the future - most lenders will want you to rectify the charge off.
Hope this helps

but the type of service/notice you are referring to is for the foreclosure procedure, not for collection of a deficiency. As long as they can demonstrate that they made an attempt to collect (usually a piece of returned mail in the file), they still can proceed to enforce their deficiency.

Banker John

They did contact me about this debt. They sent it to the address that was repossesed. Of course i wasnt going to get it. They repossesd that property. I only have 3 years left before this is supposedly going to go off my credit. Should I just leave thing well alone? Also I have pulled up my credit report and they filed to the credit bureau that it was a voluntary repossesion with NO PAST DUE BALANCE.

I do not believe any court in this country would permit any individual and/or organization to convert another's property without complete and adequete proof of notification.

Notice has to be sent certified - if service fails - public notification - must commence in newspaper - approximately three times a week for six weeks. Most attorney's do this in a legal newspaper.

Without this proof it can be determined as unlawful conversion.

Good to know there are honest bankers.

First of all, contract debt (in North Carolina) is enforceable for 10 years from date of last transaction as opposed to three years for "open book" accounts. Secondly, all they have to do is claim that they sent a letter to the last known address as far as their original claim to a deficiency. Legally, she still owes them.

Banker John

If you have something in writing about it being sold, that's all you need to show the tax office. Or if mobile homes are registered by serial number like cars are, you could also use that number to trace the previous ownership and show when you no longer owned it. You don't incur any taxes after the sale date because someone else owned it then.

You don't need to file bankruptcy. There are a couple of reasons why legally you don't have to pay them any money now. First it was four years ago, and that is the statute of limitations in most states. Check NC laws to be sure. Second they did not notify you properly before and after the sale, which in most cases means they can't collect any money later.

You are still responsible for any deficiency balance resulting from the sale of the mobile home as well as all costs incurred as part of the repossession and sale process. Bankruptcy will be your only way to avoid your responsibility in this matter.

As far as the sales price is concerned, mobile homes lose a HUGE amount of their value immediately after being sold, especially if you do not own the ground upon which it sets. Also they are going to sell it to the first qualified bidder as the used mobile home market is soft, and they don't want to have it in their possession any longer than necessary.

Regardless of whether or not this lender has a bad reputation or not, ultimately it is YOU that failed to honor your contract here, not them.

Banker John

You are still responsible for any deficiency balance resulting from the sale of the mobile home as well as all costs incurred as part of the repossession and sale process. Bankruptcy will be your only way to avoid your responsibility in this matter.

As far as the sales price is concerned, mobile homes lose a HUGE amount of their value immediately after being sold, especially if you do not own the ground upon which it sets. Also they are going to sell it to the first qualified bidder as the used mobile home market is soft, and they don't want to have it in their possession any longer than necessary.

Regardless of whether or not this lender has a bad reputation or not, ultimately it is YOU that failed to honor your contract here, not them.

Banker John

You are still responsible for any deficiency balance resulting from the sale of the mobile home as well as all costs incurred as part of the repossession and sale process. Bankruptcy will be your only way to avoid your responsibility in this matter.

As far as the sales price is concerned, mobile homes lose a HUGE amount of their value immediately after being sold, especially if you do not own the ground upon which it sets. Also they are going to sell it to the first qualified bidder as the used mobile home market is soft, and they don't want to have it in their possession any longer than necessary.

Regardless of whether or not this lender has a bad reputation or not, ultimately it is YOU that failed to honor your contract here, not them.

Banker John

Thanks for the advice Jennifer. I got my papers from Vanderbilt. We bought the home at 32,000. 1 year later they sold it for 9,999. I'm sure it didnt lose 20,000 in value for me living in it for 8 months. They Suck.

First, get all your papers as to when you surrendered the home.

Second, contact your states department of motor vehicles and get a title history, your clerk of courts, auto title division should be able to do this for you at not costs or a very little cost.

Chances are "Vanderbilt" listed themselves as a lien replacement, to evade personal property taxes.

Contact the Auditor's office, personal property division, and advise them that the manufactured home was repossessed/replevin as well as the date thereof. Get copies of your delinquent tax statement.

Third, file complaint in your municipal court, small claims division for the amount of taxes assessed as against you and paid by you on behalf of "Vanderbilt".

Your defaulted loan should be reduced by whatever amount "Vanderbilt" sold the manufactured home for, less the cost for the replevin/repossession.

Your best bet will be to file bancruptcy and scrap "Vanderbilt".

Is it any wonder that Warren E. Buffet was able to give 30 million dollars Bill & Melinda Gates, for their project in Africa? Look what his company Berkshir/Hathaway, does to our working poor to get it.

FYI, Warren E. Buffet's company Berkshire/Hathaway, 1440 Kiewit Plaza, Omaha, NE., owns Vanderbilt Mortgage and Finance, and I have communicated with his assistant "Debra" whom advised me to speak with "Vanderbilt", I responded "what do I want to communicate with them for", they (Vanderbilt) is dirty.