Product: Mortgage

Vanderbilt Mortgage and XXXX has denied us access to programs and options designed to help struggling homeowners and have started the foreclosure process. We have tried to work with them towards a fair and affordable resolution but seem to be hitting a brick wall with them. My husband and I cross collateralized the land we owned in order to obtain a mortgage loan through Vanderbilt and purchase our manufactured home in XXXX. We have been having financial difficulties since XX/XX/XXXX and missed some mortgage payments. During this whole process I was in communication with Vanderbilt and worked to get caught back up on more than one occasion. Things became more serious in spring XXXX when my hours were cut and I was occasionally furloughed for up to one week a month. Again I tried to work with them but was told they would no longer accept a single months payment and that we needed to reinstate the past due balance which we could not do. Then we were offered a repayment plan but they wanted us to come up {$3100.00} in a matter of a few weeks which was just not possible at that time. Now Vanderbilt has started the foreclosure process. We believe that there are other options that could be considered -- -loan modification or the recapitalization of the past due payments back into the balance of the loan or possibly even deferment. There also should be a 12 month repayment plan option but your company has not provided access to any of these programs and it is very frustrating. We do not want to lose our home and feel that Vanderbilt has not been transparent or fair and would like your organization to investigate their handling of the servicing of our loan. We want to pay, we have the ability to pay, but they are denying us access to any reasonable or affordable options. 

My husband XXXX and I both work in the motorboat sports industry. I work for XXXX boats and I put together the upholstery for the boats. My husband works at XXXX XXXX and he runs the machine that cuts the upholstery. In XXXX we used our land as collateral for a down payment so that we could purchase our manufactured home with financing through Vanderbilt with payment of {$1200.00} and interest rate of 9.75 %. We live here with our XXXX XXXX XXXX daughter and never had any problems with payments until XX/XX/XXXX when XXXX was laid off. He quickly found another job but there was a one month gap between paychecks which put us into a tight spot and we missed the XXXX mortgage payment. I contacted XXXX and explained the situation and worked to get caught up and made partial payments in XXXX and XXXX to show good faith and keep the past due balance low. In XXXX I was on furlough for XXXX weeks due to the holidays and we were still getting back on our feet so we were not able to make a payment, but resumed making payments that Vanderbilt accepted for the first three months of XXXX. In XXXX my hours were cut and we were also furloughed up to one week per month and we were overwhelmed with bills. Again I let them know the situation and we had a trust and good working relationship up to that point because we had shown that we were doing everything we could to keep up with the payments. 

Unfortunately, we were told that Vanderbilt would no longer accept a single mortgage payment, and that we needed to reinstate the full past due balance which was not possible. Then we were told that they would offer us a repayment plan that required a down payment of {$3100.00}. Although we appreciate the offer, coming up with that much money in a matter of weeks was not possible at that time, but I did send in {$600.00} payment, then a {$700.00} payment to show good faith and it appears that these funds have not been applied to our loan. Since we could not make the full payment your office told us that you were starting the foreclosure process. We would request that XXXX provide a payment history showing payments made and the application of funds.