- Report: #142914
Complaint Review: Vanderbilt Mortgage And Finance - Maryville Tennessee
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Author Confirmed
Why?
Vanderbilt Mortgage And Finance
500 Alcoa Trail Maryville, 37804 Tennessee, U.S.A.
Phone:
800-970-7250
Web:
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Vanderbilt Mortgage And Finance ripoff VMF took over loan contract and increased my monthly payments Maryville Tennessee
*Consumer Comment: In the same boat They and Associates have been a nightmare for eight years
*Consumer Comment: DON'T MESS WITH THESE PEOPLE
*Consumer Comment: DON'T MESS WITH THESE PEOPLE
*Consumer Comment: DON'T MESS WITH THESE PEOPLE
*Consumer Comment: DON'T MESS WITH THESE PEOPLE
*Consumer Suggestion: Facts not mentioned
*Consumer Comment: Taxes-Ins. not a part of mortgage loan contract
*Consumer Suggestion: Thanks for Clarifying they made a mistake
VMF took over my loan contract from Associates Housing. By the time I received the letter giving this information, Associates was no longer taking calls.
I received a letter on Saturday from VMF. In the letter, they stated my payment would be increased by $34.24 a month with no explanation. The following is the letter I am sending to them:
May 16, 2005
Vanderbilt Mortgage and Financing
Attention Customer Service
500 Alcoa Trail
Maryville, TN 37804
Vanderbilt Mortgage and Financing Customer Service:
This is a qualified written request under Section 6 of the Real Estate Settlement Procedures Act (RESPA).
I am writing after receiving your letter to me dated May 12, 2005. I received your letter on Saturday, May 14, 2005. Your letter states an increase in my monthly mortgage payment beginning August 15, 2005, and thereafter. Your letter does not state the reason for the increase. My mortgage contract does not include any increases in interest or payments over the term of my loan.
I contacted your company on Monday, May 16, 2005 to inquire about the increase. After an hour of attempts to get through, I spoke with Marie (800.970.7250), who suggested I speak with April G. (800.486.1203 ext. 7880). April G. was not in the office yet. Marie checked my account and said the reason for the increase in payment was due to a $410.00, pending payment project. She was able to tell me it had something to do with taxes. She had no further information.
At my request I was transferred to April's supervisor, or group leader, J.R. Before J.R. came on the phone, the phone disconnected after my being on hold for approximately 5 minutes. I called back and after several attempts, was able to speak with someone again. This time it was Steve R.
According to Steve R., the increase in my payment is due to your company stating I was delinquent on my taxes. I inquired if the $410.00 was for an escrow cushion. I was informed I owed your company the money for having to pay these delinquent taxes. Steve R. stated, We paid your taxes on May 2nd, 2005.
I informed Steve. R my taxes were never delinquent. He said I would need to, send proof of taxes paid. He gave me a fax number of 865.380.3418. I requested a physical address to send the proof of taxes to. The address he gave is 500 Alcoa Trail, Maryville, TN 37804. I will be faxing my tax statement, attention Steve R., as well as sending a certified copy to your Maryville address.
I am aware VMF is enrolled with the Better Business Bureau.
Since your letter did not state why you raised my monthly payments, I would like a written explanation that includes the reason, how this determination was made as well as specifically how to address the issue.
I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.
Sincerely,
Kim
CC: File
Attorney
Kim
Eugene, Oregon
U.S.A.
I received a letter on Saturday from VMF. In the letter, they stated my payment would be increased by $34.24 a month with no explanation. The following is the letter I am sending to them:
May 16, 2005
Vanderbilt Mortgage and Financing
Attention Customer Service
500 Alcoa Trail
Maryville, TN 37804
Vanderbilt Mortgage and Financing Customer Service:
This is a qualified written request under Section 6 of the Real Estate Settlement Procedures Act (RESPA).
I am writing after receiving your letter to me dated May 12, 2005. I received your letter on Saturday, May 14, 2005. Your letter states an increase in my monthly mortgage payment beginning August 15, 2005, and thereafter. Your letter does not state the reason for the increase. My mortgage contract does not include any increases in interest or payments over the term of my loan.
I contacted your company on Monday, May 16, 2005 to inquire about the increase. After an hour of attempts to get through, I spoke with Marie (800.970.7250), who suggested I speak with April G. (800.486.1203 ext. 7880). April G. was not in the office yet. Marie checked my account and said the reason for the increase in payment was due to a $410.00, pending payment project. She was able to tell me it had something to do with taxes. She had no further information.
At my request I was transferred to April's supervisor, or group leader, J.R. Before J.R. came on the phone, the phone disconnected after my being on hold for approximately 5 minutes. I called back and after several attempts, was able to speak with someone again. This time it was Steve R.
According to Steve R., the increase in my payment is due to your company stating I was delinquent on my taxes. I inquired if the $410.00 was for an escrow cushion. I was informed I owed your company the money for having to pay these delinquent taxes. Steve R. stated, We paid your taxes on May 2nd, 2005.
I informed Steve. R my taxes were never delinquent. He said I would need to, send proof of taxes paid. He gave me a fax number of 865.380.3418. I requested a physical address to send the proof of taxes to. The address he gave is 500 Alcoa Trail, Maryville, TN 37804. I will be faxing my tax statement, attention Steve R., as well as sending a certified copy to your Maryville address.
I am aware VMF is enrolled with the Better Business Bureau.
Since your letter did not state why you raised my monthly payments, I would like a written explanation that includes the reason, how this determination was made as well as specifically how to address the issue.
I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.
Sincerely,
Kim
CC: File
Attorney
Kim
Eugene, Oregon
U.S.A.
8 Updates & Rebuttals
Julie
Guthrie,Oklahoma,
U.S.A.
Thanks for Clarifying they made a mistake
#2Consumer Suggestion
Fri, May 27, 2005
Well Kim, it sounds like they made a mistake. I hope you are able to resolve this quickly. Please post how/when/if you ever get this resolved. I would also look at refinancing.... You are very well spoken, yours is one of the few posts that made complete sense and spelled everything out (ie you weren't just ranting). Your letter sounds great. GOOD LUCK!!!
Kim
Eugene,Oregon,
U.S.A.
Taxes-Ins. not a part of mortgage loan contract
#3Consumer Comment
Fri, May 27, 2005
The loan does not, and never has, included payment of my taxes by the mortgage company. My taxes have always been paid by me directly and have never been late. A the time the loan was taken over by Vanderbilt, there was no balance owed on my taxes. When I spoke with Vanderbilt, I inquired if they offered the service of including my taxes in my monthly payment. I was informed this was not an option unless it was in my original contract. It is not. I contacted my local tax office and confirmed a payment, other than my own, has NOT been made by Vanderbilt, as stated by Vanderbilt in a phone call. Vanderbilt should clearly identify any changes in the contract they are making in order for the consumer to address appropriatley. Telling a consumer they are raising the monthy payment, without any explanation is poor business.
Julie
Guthrie,Oklahoma,
U.S.A.
Facts not mentioned
#4Consumer Suggestion
Fri, May 27, 2005
You don't mention if your loan is escrowed for taxes/insurance/pmi or mip? If it is, then what has happened is a very standard business practice and is done in accordance with state/fedral laws and in accordance with the mortgage documents YOU would have signed at closing on the loan. I am not aware of any company's that don't do this. When they buy the loans, they buy them in groups. Your group may have been 100,000 loans or more. Within 30 days of taking over the loan, the mortgage company's will analyze the loan. If they find your escrow short, they do exactly what they have done here. If your account isn't escrowed, then you do indeed have a problem. If it is escrowed and they had a shortage due to taxes/insurance on your property, you don't have a choice, the bills are yours and you get to pay them. You can however ask them to spread your shortage over a greater period of time. For instance, 12 months to 24 months. Nothing about this is unfair or illegal, it is really just misunderstood. If I didn't work in this industry, I myself would be stunned by how this happens.
Dave
Jacksonville,Florida,
U.S.A.
DON'T MESS WITH THESE PEOPLE
#5Consumer Comment
Tue, May 24, 2005
Just a word to the wise, if you have seen the atrocities written about these people on this web site, I would suggest you give the extra 35 bucks right now until you get it resolved. IF you don't they are going to tack on thousands of dollars worth of legal fees, late fees, and any other fees they can get their hands on!! These scumsucking bastards are the worst bottom feeders on the planet next to Ameriquest. It's not worth losing your home over!!!
Dave
Jacksonville,Florida,
U.S.A.
DON'T MESS WITH THESE PEOPLE
#6Consumer Comment
Tue, May 24, 2005
Just a word to the wise, if you have seen the atrocities written about these people on this web site, I would suggest you give the extra 35 bucks right now until you get it resolved. IF you don't they are going to tack on thousands of dollars worth of legal fees, late fees, and any other fees they can get their hands on!! These scumsucking bastards are the worst bottom feeders on the planet next to Ameriquest. It's not worth losing your home over!!!
Dave
Jacksonville,Florida,
U.S.A.
DON'T MESS WITH THESE PEOPLE
#7Consumer Comment
Tue, May 24, 2005
Just a word to the wise, if you have seen the atrocities written about these people on this web site, I would suggest you give the extra 35 bucks right now until you get it resolved. IF you don't they are going to tack on thousands of dollars worth of legal fees, late fees, and any other fees they can get their hands on!! These scumsucking bastards are the worst bottom feeders on the planet next to Ameriquest. It's not worth losing your home over!!!
Dave
Jacksonville,Florida,
U.S.A.
DON'T MESS WITH THESE PEOPLE
#8Consumer Comment
Tue, May 24, 2005
Just a word to the wise, if you have seen the atrocities written about these people on this web site, I would suggest you give the extra 35 bucks right now until you get it resolved. IF you don't they are going to tack on thousands of dollars worth of legal fees, late fees, and any other fees they can get their hands on!! These scumsucking bastards are the worst bottom feeders on the planet next to Ameriquest. It's not worth losing your home over!!!
Gretchyn
Kellyville,Oklahoma,
U.S.A.
In the same boat They and Associates have been a nightmare for eight years
#9Consumer Comment
Tue, May 24, 2005
Our mortgage too was with Associates and taken over by VBM. After a month they finally sent our coupon book showing we were three months delinquent (not so). Our payments are due on the first of the month and on the third they were calling everyone in our family looking for us when they had our number and address. They raised our payments almost $200 without any explanation. I don't know where my payments made to Associates since March went, my first payment to VBM was not until May. Needless to say, they sent out a field rep a week later. They and Associates have been a nightmare for eight years. They are getting their house back. We are finally getting to build our dream home. Good luck with your endeavors. These people do not care about their customers. They will hound you till the day you pay off your mortgate if you ever get to. Nothing you say or do is sufficient for these people. They have lied and called us liars so we are done with them. Good luck. I wish you the best.
