- Report: #140891
Complaint Review: Vanderbilt Mortgage - Maryville Tennessee
-
Author Confirmed
Why?
Vanderbilt Mortgage
500 Alcoa Trail Maryville, 37804 Tennessee, U.S.A.
Phone:
865-380-3000
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Vanderbilt Mortgage ripoff, help they are taking my trailer and my payments are up to date. Maryville Tennessee
Vanderbilt Mortgage is in the process of foreclosing on our trailer, due to Chase mischarging for insurance we already had.Upon speaking with them, they could not even get straight why we owed the money, first we were told it was a late payment and then it was a bad check, we have all canceled checks, if anything, we have paid more than what has been due.
They sent a man to take pictures of my home and to have me call them. I explained to him the situation and he even told me that the company has $400 of my money that has not been credited to my account and he didn't understand what was going on.
Here's some figures which will show how off they are:
Our payments were $397.77, we pay $400
In 53 months of paying we have only been credited with a little over $1000 toward the principal.
They claim we were behind $89.24 in Oct. 2004
In Nov.2004 they claimed we were behind $1395.60, plus we were credited for a $400 payment
In April they returned our payment stating that they had begun steps to gain possession, and that we continue to be delinquent.
And we were given a weekend to pay them off completely.
Anyone we have spoken to there has been rude and not helpful at all. One even told my daughter that she didn't want to talk to me because I was to immature, I refused to send extra money.
How can business be allowed to operate this way. If anyone knows what I can do to stop this please respond asap as I do not know how long this process takes. I could be w/o home tomorrow.
Rebecca
Abbeville, Louisiana
U.S.A.
They sent a man to take pictures of my home and to have me call them. I explained to him the situation and he even told me that the company has $400 of my money that has not been credited to my account and he didn't understand what was going on.
Here's some figures which will show how off they are:
Our payments were $397.77, we pay $400
In 53 months of paying we have only been credited with a little over $1000 toward the principal.
They claim we were behind $89.24 in Oct. 2004
In Nov.2004 they claimed we were behind $1395.60, plus we were credited for a $400 payment
In April they returned our payment stating that they had begun steps to gain possession, and that we continue to be delinquent.
And we were given a weekend to pay them off completely.
Anyone we have spoken to there has been rude and not helpful at all. One even told my daughter that she didn't want to talk to me because I was to immature, I refused to send extra money.
How can business be allowed to operate this way. If anyone knows what I can do to stop this please respond asap as I do not know how long this process takes. I could be w/o home tomorrow.
Rebecca
Abbeville, Louisiana
U.S.A.
1 Updates & Rebuttals
Lori
Kalkaska,Michigan,
U.S.A.
Check your Terms!!!!
#2Consumer Suggestion
Thu, June 09, 2005
Like many others, I notice that you round up your payment, yet it seems that you are getting nowhere on your principal payments. To give you a comparison, my original mortgage was for 94,800. My monthly payment is $614.88. I've been paying on this mortgage for 25 months (less than half the time that you've been paying). The 6 months, I paid the rounded up payment ($615), the next 6 months, I paid +$5, the next +10, and I'm now at +$88 per month. In 25 months, I've paid nearly $3000 of my principal. Check your contract, find your interest rate, your original loan amount, and input these figures into an amoritization calculator (available in MS Works, as well as multiple online sites). Your interest rate can make a BIG difference in how fast you go anywhere with your loan (a friend had me read her contract and was surprised to discover that she agreed to an interest rate of 29.99% on her mortgage!!). I have a reputable mortgage company who has proven to be very upright with their accounting, willing to fix mistakes should they occur, so I'm one of the fortunate ones, but even with my company, I check EVERY month to verify that my payment has been correctly posted, and I correct even the smallest mistake immediately to avoid any misunderstanding that becomes blurred with time (ex: attaching an escrow to my account that was not requested, nor required....correction time, 2 business days). If you discover that your interest rate is outrageous, shop around for another. Mortgages are fairly easy to obtain as the competition is steep right now, so don't be afraid to be turned down. Get out NOW before VMF gets you the way that they've gotten so many others!!! Good Luck!!
