Consumer complaint received 2025-04-08 00:00:00
Product: Mortgage — Manufactured home loan
Issue: Struggling to pay mortgage — Foreclosure
Company: VANDERBILT MORTGAGE & FINANCE, INC
State: AR

Complaint narrative:
Complainant Information Complainant : XXXX XXXX XXXX XXXX Address : XXXX XXXX XXXX Loan Servicer : Vanderbilt Mortgage and Finance , Inc. 



Background I inherited the home at XXXX XXXX XXXX in XX/XX/XXXX after the passing of my mother, XXXX XXXX. In XXXX, I attempted to formally assume the mortgage loan through Vanderbilt Mortgage and was denied without clear justification, despite being the legal heir and resident. I have maintained the home since then and acted in good faith to resolve the mortgage despite limited cooperation from the lender. 

Over the course of XXXX years, I paid approximately {$48000.00} toward the original {$80000.00} loan. Despite this substantial payment history, Vanderbilt Mortgage recently provided a payoff quote indicating I still owed approximately $ XXXX discrepancy that raises serious concerns about their amortization practices, interest calculations, and possible predatory fees. 



Timeline of Events XX/XX/XXXX I inherited the home from my late mother, XXXX XXXX. 
XXXX I attempted to assume the mortgage loan with Vanderbilt Mortgage and was rejected without clear reasoning. 
XX/XX/XXXX I fell behind on payments due to financial hardship. 
Late XXXX XXXX XXXX I remained in communication with Vanderbilt Mortgage, attempting to explore options to bring the loan current or resolve the balance through a sale. 
XX/XX/XXXX I was notified that the home was scheduled for foreclosure auction on XX/XX/XXXX. 
XX/XX/XXXX I had multiple recorded conversations with Vanderbilt representatives who clearly stated that if I secured a buyer and submitted required paperwork, the foreclosure would be postponed or canceled. 
XX/XX/XXXX I secured a qualified buyer. A reputable title company was engaged, and they contacted Vanderbilt to request a payoff quote to complete the sale.

Vanderbilt refused to provide a title or allow the title company to proceed with closing, stating the buyer could attend the auction insteaddirectly contradicting prior agreements. 
XX/XX/XXXX Following direct communication with Vanderbilts foreclosure attorney and a professional courtesy call regarding potential legal intervention, the auction was postponed beyond XXXX. 



Complaint Summary Vanderbilt Mortgage made false and misleading statements, caused unnecessary emotional and financial distress, and actively interfered with a legitimate sale that would have satisfied the loan in full. Despite assurances that the foreclosure would be paused for a buyer, they attempted to proceed with auction anywayignoring both ethical obligations and practical resolution opportunities. 

Additionally, the loan balance quoted by Vanderbilt does not align with the {$48000.00} already paid over XXXX years. They are demanding {$69000.00} on an {$80000.00} loan despite substantial repayment, which raises concerns about their lending practices. 

Most recently, although a payoff quote was provided, Vanderbilt has refused to supply a copy of the title to my title company, further obstructing the sale of the home and undermining the closing process. I have audio recordings of key conversations confirming their commitment to halt foreclosure upon receiving a signed buyer and required documents.

Company response to consumer: Closed with explanation