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  • Report:  #151457

Complaint Review: Vanderbilt Mortgage And Finance - Maryville Tennessee

Reported By:
- Cusseta, Georgia,
Submitted:
Updated:

Vanderbilt Mortgage And Finance
500 Alcoa Trail Maryville, 37804 Tennessee, U.S.A.
Phone:
800-970-7250
Web:
N/A
Categories:
Tell us has your experience with this business or person been good? What's this?
On or about Jan 1, 2005, Chase sold our account to Vanderbilt Mortgage and Finance. Since that time, each of my monthly payments I have made to them have been posted 1 - 4 days after they're received, which is untimely posting of payments. And I know when the payment is received because I use delivery tracking of the payments. In addition, any "Principal Only" amounts I have enclosed with my monthly payments has been placed into an overage/suspension account instead of being applied to my account's principal balance, which has caused excessive interest to accrue. All of this is technically illegal as it is nothing more than "serial theft". Granted, it may only be $20 extra in interest but, when you consider this may be happening to 1000's of accounts each month that adds up to quite a large profit for Vanderbilt.

They even have posted my payments on non-business days (i.e. Sunday)after receiving the payment the previous Friday at 3 AM, which is long before their posted business opening hours of 8:30 AM. I have spoken to their customer service reps, whicxh really got me nowhere and have written a Respa letter to them, which they have yet to acknowledge.

I do not take being scammed lightly so I am gathering information, which I intend to furnish to the FTC, the Attorney Generals and Banking commisioners of Ga, Al, and TN, and a major law firm for possible action. Anyone want to join in and add you experiences to the complaint?

Scott

Cusseta, Georgia
U.S.A.


6 Updates & Rebuttals

Sue

Sevierville,
Tennessee,
U.S.A.
Warreb Vuffet Sucks!

#2REBUTTAL Individual responds

Mon, February 23, 2009

Not only does Warren buffet and he's illegal tactics with regards to Vanderbilt Mortgage and Clayton Homes suck, he own the damned Dairy Queen Restaurants! He also owns the Insurance company that insures your house although they deny it but it's true. We suffered some damage to our roof in a bad storm 2 1/2 weeks ago and some typical rude Warren Buffet employee named Tellie Parker acted like I was trying to rush her to fix my roof! Hey! If it helps all of you, There is a class action suit against Clayton homes right now! You can get the wheels back to your house if you want them! Can you imagine that one? They steal your money and they offer you back wheels to your house?? Warren Buffet needs to go to jail and I will pray every day that it happens.


Briana Riche

E,
Tennessee,
U.S.A.
Posting payment

#3UPDATE EX-employee responds

Sat, February 14, 2009

One there is no one there at 3am in morning, but your payment is applied to your account that day and is put into pending funds to post the next morning at 6am automatically. That is why it post on sundays when no one is there, it does not have to be a business day to post, and no law about payments on sunday.


Melissa

Roswell,
New Mexico,
U.S.A.
I feel ya

#4Consumer Suggestion

Sat, January 31, 2009

Well, just waned to wish you luck with your complaints to all the appropriate depts. of state etc. but I can tell you you wont have much luck if yours happens to go like mine, I have posted several comments on this site about Vanderbilt and their antics with me, and again, I will say That I am appalled that so many of us have experience the same things and no action has ever been taken to represent us the consumer please, feel free to search for my postings, and never say die...good luck to you. Melissa


Mary

Bluefield,
West Virginia,
U.S.A.
Please Add Us in the Lawsuit We have Lots of Information

#5Consumer Comment

Tue, August 05, 2008

We to know all to well how you feel, we were in mediation with an attorney and still had to move out of our home now paying $500.00 month rent on an old house and barely eating to make ends meet, but the story on our manufactured home is the fact that we lived in it 8 and a half years and paid $36,000.00 on the home in the 8 and half years and they said we still owed like 14.000 more for a trailer that was falling apart and a metal roof, go figure, they told us if we moved out of the home by the end of november 2007 that the debt would be completely cleared and it would not appear on our credit, we are both disabled and having to start all over again with nothing thanks to Vanderbilt Mortgage/Kevin Clayton. We were treated like dogs by the reps as well as the Warren Buffets answering secretaries, You know that Warren Buffett is the shareholder of the Vanderbilt community, but we never got anywhere there either. But Please include our information in the lawsuit if that is possible at all. Vanderbilt is the main reason for the Mortgage Meltdown, and you would think that appropriate action be taken against them. I have a Report on here, in the Contact Kevin Clayton ,Thank You


Linda

Nicholson,
Mississippi,
U.S.A.
Surprised

#6Consumer Comment

Sat, July 05, 2008

I am surprised more complaints are not listed here. We have had several unpleasent experiences with Vanderbilt. The sad thing is, I do not see where anything will ever happen to make things better. Why can House Trailers, modular homes or what ever you want to call them, not be counted as a real house? It is as much our homes as a house built on a foundation is. To get a home loan on a trailer, it is called a Manufactured Home Loan. It depreciates in value the moment you set it up on your lot. Insurance is hard to get at an affordable rate. Oh, I forgot, the insurance company most of Vanderbilts manufactured homes have is also owned by Vanderbilt. Why must I pay for information on how much I still owe. Example; for a Written Payoff Amount I must pay $35.00. One year payment history; I must pay $5.00 or for a complete payment history, $25.00. I can understand some of the things they want fees for, example, copy of Contract; Copy of Title but for the payoff amount I think that is wrong. I have a right to know how much I owe. Back to the insurance. Why should I pay insurance on the purchase price when I would only receive the amount equal to the market value of the manufactured home? The Insurance goes up every year when it should be going down. Which it will but you must pay for the payoff amount so you have it to show to the insurance company and then of course, Vanderbilt must approve the new policy. We, the consumer, are caught between the proverbal rock and the hard place when it comes to finance companies. Not a pretty place to be.


Ranee

Ironton,
Ohio,
U.S.A.
I know exactly what you are going through

#7Consumer Suggestion

Wed, August 03, 2005

Scott, Yes I would like to join in on any complaints against vanderbilt. I have also been fighting with vanderbilt since April. My name is Ranee and I live in Ohio. I have been trying to find someone who we can file a class aciton lawsuit against. Get my info from the manager of this sight. Thanks so much

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