Consumer complaint received 2025-02-21 00:00:00
Product: Mortgage — Manufactured home loan
Issue: Struggling to pay mortgage — Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
Company: VANDERBILT MORTGAGE & FINANCE, INC
State: OK

Complaint narrative:
In XX/XX/year>, I bought into XXXX XXXX scheme of " owning a home was cheaper than renting ''. This was also the time that XXXX XXXX said that " Family land could be used as a location for home if we didnt have our own land ''. This move was due to a slumlord, who purchased the home that me & my family lived in for over XXXX. The landlord didn't fix anything & tried passing it off as being the tenants responsibility. So, me & family started looking for a place to live. 
We got approved by XXXX XXXX XXXX their in-house lender Vanderbilt Mortgage XXXX XXXX XXXX was in a hurry to seal the deal & gave me, my wife, mother/father in law, very lil time to review contract. It was a sign here & here & here if ya wanta new home. 
While in the office at XXXX XXXX XXXX XXXX, I was asked if I wanted the home on the lot or wanted to wait, possibly months for the home to be built. I choose the home on the lot. We also ran into a situation where lender would only finance home & septic. My mother in law paid {$3000.00} cash so that we could have ac with the home. This was all in addition to the {$3000.00} that I paid out of pocket as a down payment. Within weeks our home was delivered & set. 
We noticed issues right from the start. Siding whipped in the wind when in excess of XXXX. Whipping sound can be heard thru out the home. Siding has fallin off due to wind & the way it was installed. As per HUD 's XXXX XXXX building codes, there is supposed to be either plywood or osb on the exterior walls. After speaking with a few siding installers & listening to what they were saying, I decided to take a closer look when the wind blew off some stripes of siding. I saw a plastic moisture barrier that was right up against the walls framing. NO PLYWOOD or OSB WOOD on the exterior beneath siding. 
XXXX also said that our heating/cooling bills would be cheaper. This was an outright lie. Our heating/cooling bills have been bout the same as our old house that had issues with insulation & drafty windows. While in the master bathroom, during cold weather, we can feel air that's just as cold as outside temp. This is also the location I discovered didn't have any exterior wood on wall. The opposite side of the home is the same. My daughters rooms are cooler than the rest of home during cold weather. 
I have called XXXX XXXX XXXX XXXX XXXX made them aware of situation. It was this office that informed me that my home only had a 1 year warranty & that all things discovered after a year were my problem to address & fix. In my opinion, a 1 year warranty on a {$96000.00} home is a very XXXX deal. 
My mortgage started out at $ XXXX. XXXX later, XXXX XXXX XXXX subsidiary of XXXX XXXX raised my insurance rates for absolutely no reason. I switched insurance to XXXX, and insurer that I've done business with for XXXX. XXXX sent refund bout the time my mortgage was due. I asked Vanderbilt Mortgage if I could use the refund to pay mortgage since it was gon na be another week before I got paid. Rep for Vanderbilt said " Yes, ya can do that. As a result of switching insurance jus after Vanderbilt paid XXXX after their price hike, my mortgage went upto $ XXXX. I asked Vanderbilt why, this occurred. I was told it was because I didnt place XXXX refund in my escrow. I immediately told Vanderbilt that I was gon na have issues with a $ XXXX mortgage, especially considering that they got a {$1000.00} paymentout of the refund. They acted as if they didn't care. I struggled to pay $ XXXX for over a year. I also found out that I was repaying the {$1300.00} back into my escrow after Vanderbilt received {$1000.00} of the {$1300.00}. 
After the bs with the $ XXXX mortgage payments ended, my payments went back down. Not to the {$970.00}, which is what I originally was paying. It went to {$980.00}. This increase has something to do with taxes & insurance. 
Supposedly, according to XXXX, my home has a XXXX warranty on the roof. I have yet to be informed as to who I need to contact about the roof losing shingles during windy days. 
I suspect that I'm gon na have to replace roof & do all other necessary repairs that will be needed, after I get home paid off due to the fact that I can't afford to make any repairs or afford a home warranty due to an insane mortgage. Provided I live long enough. 
I paid {$96000.00} for my home with an 8 % interest rate. XXXX monthly payments that started at {$970.00}. Then increased to {$1000.00}. Then went back down to {$980.00}. When ya deduct insurance & taxes, I'm left with a $ XXXX payment on home. I currently have around XXXX payments left. 
{$770.00} x XXXX {$160000.00} left in just principal & interest. The original price of home x XXXX payments is gon na result in a total amount of over {$230000.00} paid. Every year during tax season I recieve a XXXX showing how much interest I paid for the year. This interest equates to over $ XXXX. Add up all payments for a year at the $ XXXX rate & total comes to {$11000.00}. Deduct {$1200.00} for insurance & {$1000.00} for taxes & that results in {$9500.00} going toward principal & interest. Subtract {$7700.00} interest & that results in $ XXXX going to the principal. $ XXXX principal XXXX At this rate, I'm gon na be paying Vanderbilt, long after I'm XXXX ' under

Company response to consumer: Closed with explanation