My wife and I bought our house in FEBUARY of 1997 and loved it. 2 years later we refinaced it for an additional 8 thousand dollars to payoff some bills. The company we refianced with then sold us to what would be the worse nightmare in our lives, Fairbanks Capital Finance.
My wife is an accountant and handled all the bills. After about 6 months she informed me that for some reason Faibanks is not cashing our checks for a month. After looking more we also saw where they had been charging us for NFS fees. The problem with that was the checks cleared.
My wife called them and they told her it was a mistake in the system because the loan was new and when our loan was completely in the system that it would all be corrected. Well needless to say that was a lie. It turned out to be a total fight.
In 2002 I had knee surgery and started looking to refinance to get away from Fairbanks. I then found out their next ploy. We were an hour away from closing to a much lower rate when Fairbanks called the new mortgage company and told them we were in Foreclosure and waiting on judgement. Our Credit reports and earlier payoff statements showed we were current but because they called and said they did not report it correctly we could not close. I called and tried to get an answer but was told I had to talk to the Foreclosure Departmetn and that they were gone for the weekend. When I tried to call that Monday all I got was a voice mail and no return calls.
This happened several other times that right before closing they would call and say we were in foreclosure when we weren't
Needless to say that before it was over, because of the fees of trying to refinance away from them, we had to file Chapter 13 Bankruptcy. Our attorney notified the Trustee of Fairbanks actions and was trying to rectify what they were claiming as delenquent fees. Every time our attorney would request proof of fees and delquincy Fairbanks would not send anything. Our attorney's filed a petition with the Bankruptcy court asking for Fairbank's to provide proof. They had to do this serveral times. Fairbanks would call the day before we were supposed to appear in front of the Magistrate and say they cleared up our file and would send updated papers.
After about a year and a half my wife received a settlement from an auto accident and the entire amount of $26,000 paid out the Chapter 13 and released us from that Bankruptcy. We were not out of it 2 months when Fairbanks quit taking our payments and told us that if we did not send them $10,000 for fees they were taking the house and they filed a Relief of Stay.
Well they got it. July after my wife and I were unable to work out anything with Fairbanks we ended up filing Chapter 7 bankruptcy they day before it went up for Sherrif's sale and walked away from the home we loved. What really has upset us is we just found out they took $124,000 for the house and we had a buyer wanting to buy it from Fairbanks for the loan amount of $147,000 and they said no. They told him that they wanted the full amount with all fees of $170,000.
I am still trying to figure out how they went from the original amount of $147,000 to $170,000. The fees were forced insurance (our attorney's and insurance agents faxed proof of coverage many times), property taxes that they allegedly paid, late fee's, misc fees, attorney fees and nsf fees. As hard as we tried for 3 years, there was no getting away from Fairbanks and we had no choice but to file Chapter 7 bankruptcy and walk away from a home we loved and had put blood, sweat and tears in to over the years.
Fairbanks needs to be STOPPED and people like us deserve to collect the money that we invested and lost.
Steven
Las Vegas, Nevada
U.S.A.
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