Into the latest five-seasons several months, 93 per cent off Clayton’s mobile home loans had for example high priced words which they called for additional revelation lower than federal guidelines

Vanderbilt, certainly one of Clayton’s loan providers, approved their unique to own a great $60,000, 20-12 months financing to shop for good Clayton home from the % annual desire.

Mansfield’s payment from $673 consumed nearly all her protected income. In this 18 months, she is trailing on money and you will Clayton is looking to foreclose for the household and you will land.

Of a lot borrowers interviewed for this analysis explained being steered from the Clayton dealers into Clayton money rather than realizing the companies was in fact you to definitely and you will the same. Either, customers said, the fresh new loans Applewood CO dealer discussed the financing since lowest price readily available.