any bad financing experience

[Pat]

I am looking to refinance my loan for a trailer. Just wondering if anybody knows a finance company to avoid?????
I have had marketing flyer from Vanderbilt Mortgage, Maryville, TN. Just want to avoid any shady lenders.

Thanks for your time.

[rmurray]

I do not know of any problem lenders...but a few words on Vanderbilt..

Vanderbilt is owned by Clayton Industries...Clayton just announced the purchase of 21st Century Mortgage...In the announcement they mentioned that Vanderbilt will be only financing for Clayton owned dealerships..and that 21st will be doing all independnet dealer and direct lending loans...Here is the listing they have in the Yellow pages on this site...

21st Mortgage Corp.
607 Market St.
Knoxville,TN 37902
800-955-0021
865-292-2100
Bart Mize
[email protected]

www.21stmortgage.com

[Pat]

That is interesting. I am glad that I found this web site. 21st Mortgage purchased my mortgage last month from the previous lender. Better keep my eyes and ears open.

Thank you for the information.

[JoAnne L.]

Oh Man, don't get me started !! USE THIS AS WARNING AND TO BE SO CAREFULL WHEN FINANCING - CHECK THE COMPANY OUT OVER AND OVER AGAIN. We got financing from a mortgage co. in Kalamazoo MI. After we are all settled in, we get a call from mortg. co, that we have a big excess in funds - do we want the $ or reduce the mortgage? We say we want the $. Next week we get a call saying no excess, now we are $500 short and to pay immediately. 2 months later it's time to convert from construction loan to mortgage, we are still fighting over the costs, mortg. co. won;t work with us on clearing up discepencies, title co. calls to set up closing, we tell them NO until all figures are straightend out. 8 months go by we are trying to refi with someone else at a much lower intrest rate, ready to close "next week" STILL arguing with mortgage co. on figures, when all of a sudden they fax us a sheet of figures and included with the paperwork is a Loan Modification Agreement that had greatly inflated cost figures on it and THAT WAS FORGED. We never saw this paper, and somewhere between the title co. (who has nothing to gain by this) and the mortgage company (who has everything to gain) this paper appears, someone signed our names, the title co. witnessed and notarized the paper - admitting that they had a policy of notarizing blank documents. This paper was SUPPOSEDLY signed by us and notarized / witnessed at the mortgage co.& title co. on the same day - with a difference of over 300 miles between the mort. co. and the title co. The mort. co. also stated in the legal documents charging 1% origination fee, but we really got charged 6.544%, filed 2 different HUD 1 statements with different $ figures, double charged us on all misc. fees and their reply to that is "because we can". We are fighting this with all our might, not only because this is identity theft, the mortgage co. is now trying to sue us for the INFLATED costs plus all the interest and penalties & they are calling it foreclosure, even thogh we've not been legally/properly notified. And the kick in the teeth is that the mortgage company may win,and we could lose our home - our retirement home, placed on homestead property in the family for over 100 years, all because we cannot prove exactly WHICH PERSON forged our signatures. Our credit is shot, they have falsely reported to credit reporting agencies that we have been in foreclosure for over a year when we have not been. Just a royal nightmare. SO PLEASE BE CAREFUL PEOPLE.

[smm]

Just wondering who you have been dealing with? We are about to make a construction/mortgage loan also.

[JoAnne L.]

Credit Union Mortgage Company is who we went through, this morg. co. is owned also by at least 5 different Credit Unions in the Kalamazoo area, so go on the www search for the name listed above and get all the owners.