Complaint Review: Vanderbilt Mortgage And Finance

We purchased a home through Oakwood in July 2000.(who them sold the loan to Vanderbilt in March 2004) We were given the special first time buyer interest rate of 18.5% because we had no credit.... not credit cards.... absolutely nothing for them to go by. That was screw over #1. 18.5% is ridiculous.

Screw over #2 When we bought the trailer it was a repo and they said that they would not replace the carpet or cabinets and grudgingly replaced the fridge which was totally trashed. The cabinets look horrid and the carpet in my daughters room is burned and there are many stains throughout the house. Then over the past 4 years they have replaced the carpet in the trailer next to us 3 times. Everytime it was reposessed they would replace the carpet. Why wouldn't they do that for us??? Who knows.

Screw over #3 When we went to sign the papers on the trailer the salesman suddenly brought up the fact that we had to have insurance paid in full on the trailer to buy it. If we couldn't afford to pay the insurance in full that they would finance the insurance into the cost of the home, which was $28,000 for a 1997 model trailer in the year 2000.(which was a rip off) Stupidly we went ahead and did it. It raised our payment by $60 a month. I now have insurance through Nationwide and pay $24 a month. Don't let them screw you on that one!! Go get your own insurance some place else and do not let them screw you with their insurance.

Screw over #4 We had to make 2 payments on the thing before they ever even moved it onto our lot!!! We weren't even living in the thing and had to make payments on it. They kept saying it was too wet to move it. Bull!!! They moved 6 other trailers in around us at that time and they didn't have any issues with them!!

Screw over #5 I admit our payment history hasn't been the best. We have been late with payments many times. Then April of this year my husband lost his job. He was out of work from April until August. I managed to find a minimum wage job at the end of June but the $80 a week I was bringing home was barely enough to put a few groceries on the table and keep the water and electric turned on. We have been struggling with our trailer payments ever since April.

On October 7th a field representative came to see us. I had just received a letter from Vanderbilt that day informing us that we had 30 days to get August and Septembers payments caught up. He claimed that a letter was sent back at the beginning of September stating that we had until Oct. 7th to get the payments caught up or they would forclose on us. We never received a letter of that nature until Oct. 7th and it said we had until Oct. 29th to pay them $760.18. I did the Western Union quick collect and sent them a payment on Oct. 21 for $380.09 and another on Oct. 29th for $380.09

October 30th I received got a message on my voice mail stating that they were reviewing our account to start foreclosure proceedings and I had until 2pm EST to call them back. I didn't get home from work until 4pm EST that day and called when I got the message and left them all the western union info about the payment I had sent.

Well, today 11-1-04 I receive a call from them stating that my payment wasn't accepted. (okay so does that mean they are sending my money back to me?? Not likely!!) I was to pay them $760.18 not the $380.09 that I paid them because I still owed for October. I told Erica (my case manager) that all I had the money for was the $380.09 and I would get her the October payment as soon as I could. Then she states that the November payment is now past due as well. WHAT!!! November's payment is due on 11-2 and it is 10am on 11-1 and I am already past due with it???? She then tells me I have until 11-5 to make a payment of 760.18 or they will start foreclosure on the house and that we will have 7 days to get out.

So we are going to see what happens on Friday because I don't know that I will have enough for a $380.09 payment and I know good and well we will not have enough for $760.18. We don't want to loose the trailer but at this point I am so pissed off with them that I am ready to take this trailer and shove it where the sun won't shine of the next Vanderbilt representative that I see.

Would it kill them to work with people??? My auto loan company will work with me and help me out but these people do not want to work with anyone at all. If you ignore this and the many other warnings about Vanderbilt and buy from them then I suggest you go buy truck load of KY Jelly and brace yourself because by the time they get done with you, you will be hurting.

Shawna
Scott Depot, West Virginia
U.S.A.