Complaint Review: Vanderbilt Mortgage - Clayton Homes

I too had fallen victim to Vanderbilts Mortgage ripoff. I was getting a divorce in early 1999 and decided I didn't want to rent. Figured buying would be better so I wasen't just throwing money away. Unbeknownest to me that's exactly what I was doing when I agreed to Vanderbilts/Claytons finance agreement.

I bought a brand new unit in 2000 with a loan around 27000. Yes I signed the loan agreement and accept the liability of such agreement but what a huge mistake I had made.

I lived in the unit for a year and wanted to sell it. Could not come even close to what I owed and I lived in it myself and kept is as good as new. Here I owed 27000 and couldn't get an offer over 13000.

So here it is 6 years almost 7 years later, I still own it with around 21000 to 22000 still owed, supposedly at 10% interest and cannot even start to sell it. One of lifes little lessons I suppose and for a loan I would never recommend Clayton or Vanderbilt to my worst enemy !

Steve
Ash Grove, Missouri
U.S.A.