I am writing you about Fairbanks Capital, based out of Oswald, UT. Just saying where they are from embarrasses me as I am Mormon and although not everyone in Utah is Mormon it shames me to say that quite a few people I have talked to at this company are also Mormon and they have lied to me and many others.
Fairbanks Capital is a mortgage company. They are actually the 7th company to purchase our mortgage. See, your mortgage is probably long since paid for. We, on the other hand, just started out 3 years ago, although we are both in our 40's and have a 14 year old son.
Mortgages are no longer handled the way they were years ago. Now they are bought and sold like peanuts to the highest bidder and for no reason at all. Because we only started purchasing our home 3 years ago we have struggled like 80% of new home owners do. We bought an older cinder block home because they are basically ageless and the repairs are minimal. This was a fixer upper though and we are slowly doing that.
I came down quite ill twice in the last two years and so we did get behind on our mortgage. We got 4 months behind. Then our mortgage was sold from Bank Of America to Fairbanks Capital. We brought our mortgage current and have kept it current. There are times that the current payment isn't paid until the 12th of the month but it is paid that same month.
Nevertheless we are charged fees for everything under the sun. There is a $10 fee for a DEMAND letter. This ends up NOT being a demand letter but a gentle reminder of the payment due. Yet they charge a $10 fee for it. The most terrible thing they do is charge anywhere from $100 to $400 for what they call DRIVE BY INSPECTIONS.
We have been aware of only ONE time when someone has driven by our home, they left a note on the door. Drive by inspections? What do they think? We are going to blow the house up to avoid paying for it? This is our HOME. NOT a piece of junk we put to the side and pull out as needed. As of May of this year, when Fairbanks took over our mortgage I have paid well over $1000 in fees. This is ludicrous! Just this month is a good example. I called the company the end of last month. I explained my payment would be in on the 12th of this month FOR this month. They said that would be fine and the late fee would be $40.
I called a few days ago and I was told that my payment of $489.13 plus the $40 had now shot up to $611 and some odd cents. I raised the roof and became very upset. I found out that yet another DRIVE BY INSPECTION FEE had been tacked on AND 2 demand letter fees. Now, I only recieved ONE gentle reminder letter, and I just got THAT yesterday. They said the other demand letter fee was from a previous month.
So now, instead of being able to send them the full amount they want in this last payperiod I had to send them my regular monthly payment and part of the fees. The rest I am having to send with the August payment WHICH by the way I am sending before the end of THIS month of July.
Due to Fairbanks Capital I now have high blood pressure. I am sitting here in tears, truthfully in tears.
Please I am begging you. Help us. I need to be able to pay my other bills, I have my health to watch out for. I have a 14 year old to raise. I am serious. It is only God himself who is keeping me fromthat first heart attack. This company has to be stopped. And pelase don't say that we should just refinance. We could do that but that won't stop Fairbanks from buying the mortgage again. Plus, refinancing is costly at the onset and as I stated before, our credit is not the best. The standard rule for a payoff statement y the way is 10 business days for delivery. Fairbanks takes 6 months to a YEAR and THEN they don't always deliver it. You can't refinance if you can't get a payoff statement.
See, we are NOT asking for a HAND OUT. We ARE asking for a HAND UP. We need to be treated fairly by corporate America.
Pease, I am begging ANYONE out there who is reading this. PLEASE help us and ALL the other hard working Americans who are dealing with this company.
PLEASE!!! Post your information below as a consumer comment.
Marilee
Albuquerque, New Mexico
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