Complaint Review: Vanderbilt Morgage - Maryville Tennessee

Carol, A few of the responses are a little misleading. Unfortunately it does look like the original owner did mislead you when you moved in the home. If he filed bankruptcy, as long as the bankruptcy was discharged or completed, then he is no longer responsible for that debt. However, some consumers do file BK and remain in the home making their monthly payment. Which if they pay the home off, even though they have filed BK, the title to the home will still go back to the party named on the title. Vanderbilt cannot sell the home while you are still in it. In fact, they must go through the same steps they would if the buyer was in it. They will have to file a suit against the persons living in the home or what they refer to as a Writ of Possession. You will be served with paperwork advising that suit has been filed and the information will be given. Vanderbilt cannot just put the home into your name even though you are or were making the payments. The loan would have to go through Transfer of Equity process with them or refi'd with another lender. If were able to get the transfer completed, the original buyer would have to sign the loan documents to transfer the title. As long as any mortgage company, not just Vanderbilt is getting the monthly payment, it does not matter who pays it. If you are paying with a check or money order monthly, they do not document who sent the payment in. The payment is posted by the payment processing department not the person that calls you if you are late. I worked at Vanderbilt and know the procedures pretty well. Unfortunately, there are only certain things they are able to do when it comes to renters. As you see, at this point, you are a renter in the home, not the actual owner. I hope this helps clear somethings up for you, and gives you a time line of what can and cannot happen. Knowing they can't sell the home while you are in it should give you some relief knowing you will have some time to save money for a move, but, also know that they will proceed with the legal action on the home if payments are not made. At that point, you will be served with paperwork alerting you of when it has began. The paperwork will be from an Attorney, not Vanderbilt itself.

WHO did you negotiate the purchase of this trailer with? Who gave you the keys to this trailer? It seems to me that you did not purchase this trailer at all. Do you have a bill of sale? If so, what does it say? WHO signed it? Seems to me your problem is with "dad." Dad cannot sell anyone this trailer with out the lien holder's permission and it doesn't seem to me that the finance company knew about this "sale" that dear old dad made to you.

Once an account is in bankruptcy, all collection efforts cease immediately. No money is collected or accepted until dismissal of bankruptcy. If you continued paying for the home then it was not in bankruptcy.

Once an account is in bankruptcy, all collection efforts cease immediately. No money is collected or accepted until dismissal of bankruptcy. If you continued paying for the home then it was not in bankruptcy.

Once an account is in bankruptcy, all collection efforts cease immediately. No money is collected or accepted until dismissal of bankruptcy. If you continued paying for the home then it was not in bankruptcy.

Once an account is in bankruptcy, all collection efforts cease immediately. No money is collected or accepted until dismissal of bankruptcy. If you continued paying for the home then it was not in bankruptcy.

A mortgage company will never just transfer the debt to your name just because you are paying the payments. You have to purchase the trailer and get your own mortgage. Anyway, why would you want to be held liable for a debt in your name with the property in someone else's name? That means you would owe for the debt, but have no ownership in the property. That would not be a wise thing for you to do. Good thing they didn't let you do that and here's another reason why. Because of the bankruptcy, the deed or title will go back to Vanderbilt. Then you would be responsible for paying the debt, but Vanderbilt would not have to grant you title to the property. That means anytime they want, they could just sell it and have you move out, even if you have been paying the mortgage. You would have no legal rights to the property. After the bankruptcy, Vanderbilt could agree to sell you the property, but you would have to qualify for the mortgage. And, they cannot just grant you title to the property just because you have been making the payments. Say a renter was paying mortgage payments. The renter cannot call the mortgage company and say "Give me this property since I have been making the payments".

the trailer used to belong to our son and his wife. his wife's dad bought it for them, and then they moved out. well dear old dad put it up for bankrupcy, after we moved in. so we kept sending in the payments to vanderbilt, and then we found out that the payments were still going under her dads name. so now we have stopped all payments til they agree to put the trailer in our name.good luck there, cause they are as stubborn as an a*s is. they also have told us that we have 30 days to move out. good luck to them, cause i will not put my husband through all this crap.

the trailer used to belong to our son and his wife. his wife's dad bought it for them, and then they moved out. well dear old dad put it up for bankrupcy, after we moved in. so we kept sending in the payments to vanderbilt, and then we found out that the payments were still going under her dads name. so now we have stopped all payments til they agree to put the trailer in our name.good luck there, cause they are as stubborn as an a*s is. they also have told us that we have 30 days to move out. good luck to them, cause i will not put my husband through all this crap.

the trailer used to belong to our son and his wife. his wife's dad bought it for them, and then they moved out. well dear old dad put it up for bankrupcy, after we moved in. so we kept sending in the payments to vanderbilt, and then we found out that the payments were still going under her dads name. so now we have stopped all payments til they agree to put the trailer in our name.good luck there, cause they are as stubborn as an a*s is. they also have told us that we have 30 days to move out. good luck to them, cause i will not put my husband through all this crap.

You don't state how you came to live in this trailer. It sounds to me as though your renting it, but I can't imagine a mortgage company renting out the property. How did you find this trailer and who did you negotiate with prior to moving in? Many times folks will "sell" a property to someone for "picking up the payments" without the written consent of the mortgage underwriter. The new tenant sends payments to the person who took out the mortgage, but unfortunately that person pockets the dough and doesn't pay the mortgage. Eventually, the mortgage holder steps in to foreclose. It sounds to me that this is the situation you are in, but that's only a guess on my part. If anyone is going to attempt to help you, you will need to describe exactly how you came to be in this trailer. Good luck.