A nightmare of nasty letters, poor customer service, messed up statements, goofy and unreasonable fees, ghost charges, poor payment processing and on
This story just touches the beginnig. There is to much to list in detail but the general overview follows. I too have had two mortgages transferred to these crooks from Equi-Credit. They should be called Un-Fairbanks Capital, Corp. It has been a nightmare of nasty letters, poor customer service, messed up statements, goofy and unreasonable fees, ghost charges, poor payment processing and on and on.
I have been in the computer industry all of my professional career in the finance, banking and credit card industry and have never seen anything even close to this mess.
My Wife and I are spending half of our time dealing with these moron's. I just sold one of the homes (income property) mortgaged by them yesterday to get away from them and got a real surprise by getting whacked with a long list of hidden charges I never heard of before and that are not in our contract with Equi-Credit.
Things like unknown drive by appraisals they claim happened but we have no proof of. They have backdated insurance and taxes which I paid and they did not provide any service for.
They have now added escrow to both of the mortgages without our knowing about it. They applied tons of other stuff that almost ate up all of the equity in the property. None of this information was made available to us until our closing. Then they held a percentage of the proceeds for 30 days interest free which is some other gimmick they use.
None of their statements reflect a correct date, balance or any other relative information. They never disclose what amount is really due on each payment. They never send any registered or certified information they Bulk Rate mail all correspondence including the statements so you can't even see a mailing date.
They harass you constantly via duplicate and triplicate threat letters that start on the day the payment is due even though there is a grace period for payments in my original contracts. Their Customer Service is the absolute worst and staffed with people that rude and never have an answer to any question without talking to someone else who can't answer the question either.
In other words the give you a run around for as log as it takes for you to give up. They are crooks of the worst kind and I wanted to know if any out there has made any progress with them such as a class action suit.
From what I see on the Complaints Web Site I am not alone. It seems they really are out to get homes any way they can and gouge and gouge till you break. Please let me know any thing you have found to combat these clowns. Since they took over our mortgages they have just about ruined us.
Ken
South Bend, Indiana
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