Consumer complaint received 2025-10-01 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: VANDERBILT MORTGAGE & FINANCE, INC
State: OK

Complaint narrative:
We hesitantly entered into a mortgage with Vanderbilt mortgage. Initially we were in the process of being approved for a USDA loan. We were already property owners prior to this transaction. As the process of getting an answer from USDA we began to look at mobile homes through XXXX XXXX  of XXXX  XXXX. We had an older mobile home that was becoming unlivable due to a bad roof. After getting in touch with XXXX XXXX  and beginning the process of looking for a home that fits our needs we were told that we did not qualify for the USDA loan after a year of applying. XXXX XXXX  then supposedly applied with different lenders on a conventional loan. We did not feel like we would have ever qualified for a conventional loan due to the fact that we were on a fixed income and my wife would be losing the survivors benefits she was getting as our daughter was to turn XXXX within the coming year. We were assured that it wouldn't be a big deal to refinance the loan just to get us into the home for the first year. We were a little late making our first payments which racked up an incredible amount of late charges making it hard for us to pay down the defaulted amount. We reached out to Vanderbilt in late XXXX of 2024 because our income would have decreased by half the following month beginning XX/XX/XXXX. They denied us any kind of loan modification and that is when we were unable to make any more payments. After looking back at our loan applications that XXXX XXXX  had sent us the income that Vanderbilt puts in the closing information was significantly higher than the actual income that we had. Apparently they had used e-signatures to confirm that we vouch this was our income. I have the actual loan papers with my handwriting and my wife 's on them stating and entirely different income. With refusal from the mortgage company to help us. We were forced to file bankruptcy due to the grounding debt that we had taken on. During this process we were reviewing our closing papers and noticed some discrepancies as far as the VIN number for the mobile home we were purchasing. We also were sent a title in the mail shortly after moving into the home which does not match the closing papers at all. It is not a clerical error in my opinion due to the fact that the incorrect VIN number is listed repeatedly on all closing documents. Upon investigation of looking on the frame of the mobile home we are physically in the VIN number appears to be altered. There is black spray paint over one certain VIN number and an entirely crooked poorly stamp VIN number that matches the title. Clearly altered! When we order the mobile home through XXXX XXXX  we were told that it was going to be built in their factory and delivered to us as they had no models available to view in the state. A few days later we were told that an employee 's family member had ordered the same trailer we did but they wanted to serve us first since we have been on the back burner for so long. I did not realize this was a red flag as I am not in to real estate law. Upon the home being moved to our land we have had nothing but trouble since we stepped foot into the home. The door knobs fell off within a matter of hours. All of the trim came off of the doorways. Both toilets in each restroom are caving in. The feeling has cracks in it and it looks like there is mold growing on all of the exterior walls. The floors are so soft they are caving in and they did this at such a rapid rate that the deterioration was unbelievable. We have reached out trying to figure out a resolution but we're offered nothing. We asked for loan modifications XXXX times even after my wife was approved for her XXXX and we're denied each time. We did file a claim through the insurance company for the damage to the floors and they sent a check for way less then what the repairs will cost. Coincidentally is very close to the amount of money that we are in default of on the loan. We had signed a deed in lieu of foreclosure as collateral to get the loan. We were told when we applied for the loan that we did not qualify for any FHA or first-time home buyer loans even though I felt like we were eligible. There is no record on my credit report that any other company ran my credit at the time of the application. I do have the documents showing that they lied about the income in order to deem the loan as affordable to us. They did pay off my car payment at the time to make the loan more affordable. Also on our closing date our realtor did not show up and had an employee stand in for her which was very unprofessional. It has been a nightmare dealing with this and now my wife and I are about to be thrown out of our home and lose our land. I am on XXXX XXXX XXXX and am now facing homelessness.

Company response to consumer: Closed with explanation