FairBanks Capital Corp. Purchased my loan in April from Nations Credit. I got on the websight rip off report back then just to see what kind of a company that my husband and I were getting. Much to my surprise I saw a long list of complaints about them and I recall telling my husband back then oh my god we have to really watch out for these bloodsuckers.
My husband and I had filed bankruptcy in December of last year due to a small business venture that didn't pan out. But our home was not involved we have 4 sons my oldest who joined the Navy this April. We still have 3 young children at home. Our main concern has always been keeping a roof over their heads. We have been struggling to keep up with our house payment and haven't always been on time but payment was made.
We did try to refinance but because of the bankruptcy we have been unable to find a company to do so. Well today was the day of my wreckoning.in September I made a huge banking error with my personal checking account. My check to Fairbanks bounced my bank sent me a letter stating that the check didn't clear. (This was the first and only time this has ever happened to us). But to make a long story short I notified FairBanks and explained to them what had happened.
The woman I had spoke to said they had not gotten the returned check as of yet and that they would send it through again. I told her that the funds were now in there she said ok and that if there was any problem that they would notify me. Great I said and apologized for the problem. I would also like to state she was very curtious and understanding. I got a letter today from a lawyer hired by FairBanks saying we were in foreclosure. I was horrified and couldn't understand why so I called Fairbanks and spoke to a man who said they never got the payment for September and have not recieved Octobers payment and here it is November. I told the man that the woman I spoke to said that they would send the check through again he replied they don't send the checks through twice.
Then I proceeded to give him the date and check number of Octobers payment and he said they didn't get it yet. I said I mailed it on October 27th yes this too was late but I thought I would have a late penalty which ok was fine. I said we were mailing November out this week and that I had till the 14th of each month. He said that there was no grace period and that payment was due the first of each month. Nations Credit who originally had our loan gave us till the 14th of the month to make our payment. I was also under the assumption that the company who buys the loan has to keep it the way the original grantor has it setup. If this is not the case than why didn't Fairbanks send us new Loan agreement papers at least thats what I read on the transfer letter from Nations Credit that the original loan was to be the same with Fairbanks.
Well as it stands they say we need to wire them $ 3,047.00 to stop the foreclosure. My husband had called his place of employment to get emergncy funds from his 401k to pay this amount Thank God we had enough to do so. But the 401k says I need it in writing from FairBanks that this is the amount we need to keep our home.
I called Fairbanks back and spoke to another man and said for him to fax me the paper with the amount he said it was $ 4,000.00 something and that they would fax it to me. He asked how much time we needed to do so I told him with in 2 weeks we would western union it because that is the only way that they would let us pay it now.
I don't even know what that is going to cost to send that large of a sum yet somewhere out there is my 958.09 October payment floating in the US mail.
Well as I am writing this I still have not recieved the fax from FairBanks to give to my husbands job. The moral of this story is Why did they wait almost 2 full months to say they didn't send Septembers check through again or send me some notice in the mail that I still owed that payment? I never heard of any company waiting 2 months for a payment without sending you some kind of a reminder or something.
Let me also state that in the length of time that they had our loan we have only recieved 3 monthly statements from them. Several times I had asked them to send me a monthly statement showing amount due and how much we still owe and how much went on intrest and how much went on the pricipal so I have it for my records. Like any other bill you get a part that goes to them and the other part you keep for your personal records. I haven't gotten one in months.
And what happened to the fax I requested so that I could foward it to my husbands 401k company. Your guess is as good as mine and that ain't good. My husband and I had a 15 year mortgage by our choice at the time we were both working thats why the payment sounds so high.
We only have 10 more years to go to pay off our home. I don't trust FairBanks Capital it seems to me they made allot of money off of us at 12.9% intrest and now they want to get my home to. I have news for them I am originally From Brooklyn New york I had to fight to survive there and I am still a fighter and my husband and I have come to far to let this scum sucking realestate bleeding MF company get my home without a fight.
I will call and harrass them 20 times a day till I get the fax with the info I need to get the money to pay them with in the 2 week time frame. I was also a stay at home mom for a while and have expressed to my children the dire need for mom to go back to work full time.
My husband and I are going to do our best to pay this A_ _ Hole company off faster so we can get from underneath their sneaky underhanded tatics. I hope that all who read this and have FairBanks as their mortgage company is capable of refinancing their home through another company do so and get the hell out from under FairBanks Capital Corp / Loan Servicing Center.
I am more than willing to go along with any classaction suit or to verify what I have wrote here today. I had a good business relationship with Nations Credit and miss them dearly. I appreciate the Ripoff sight for letting me have the chance to get my fustration out to all who will read.
If you have a mortgage with this company BE AFRAID, BE VERY AFRAID. God Bless all of us Americans for trying to live the American Dream even with the opposition of such a crappy American company trying to take it from us.
Carol
Coldwater, Michigan
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