My mortgage was sold to Fairbanks from Equicredit, which I had been with for 3 years and never had a problem.
As soon as they took over I got threatening letters, exorbitant late fee notices, and in a month a foreclosure unless I paid over $1500 in mostly charges.
I was lucky to have an escape in my 401K for foreclosure threats.
Then in the process of trying to get my own insurance, they sent me a notice and said my insurance through them would cost $1200.00 a year, and only cover the house, no contents, this would cost me $106 a month.
Then a month later I get another bill for $1400 that will be added to the monthly bill at a rate of $121 extra per month.
This takes my little payment from $457 to $691 for the next year.
I am paying $2600 for homeowner's insurance for a year.
If I had my own I could pay $270 a year.
My mortgage has not even been with Fairbanks for a year and I have already paid last years insurance in that threatening foreclosure letter.
This is obscene.
That is a car payment.
Mark
McKeesport, Pennsylvania
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