I have two pieces of income property. The mortgages on both have been sold to Fairbanks. It has been a horrible situation.
My escrow accounts are so messed up that my homeowners insurance will be canceled in a week on one of the properties even though I have thousands in my escrow account. I had to send a personal check for it. On my other property, I am late with my real estate taxes and they will not pay it. On that mortgage, the two payments I have made they put in a suspense account, claiming my payments were not made in the full amount.
I sent countless faxes to their escrow department of all my HUD paperwork detailing how much my payments should be, but they ignore all paperwork. They have just sent a demand letter on one of my properties. I am at my wits' end.
Even though it will cost thousands of dollars, I am refinancing both properties with another lender ASAP.
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