I made a trip to Jacksonville, Fl. With a cashiers check for $50000. To pay off my mortgage last year. Fairbanks Capital Corp. Headquarters in Jacksonville, Fl. Had us wait in the lobby for an hour and a half. The payoff department sent a representative to the lobby but did not indicate who he was. He sat down on the couch after I had spoke to him and watched us. I had the lobby guard call the department again. The same rep came down and gave us a signed receipt (our receipt, they will not give you one) for the certified check.
This check was returned by mail several days later stating it was not enough to pay off the mortgage. I mailed the check back to them by certified mail the same day. The next four months we were harrassed by Fairbanks by 4 to 5 calls a day telling us they did not receive our check and we had been placed in the collections and ultimately in foreclosure if they did not receive our payments.
I had to prove to them I had sent the certified check before they would return my check. They said they did not have it and would be forced to foreclosed. All payments were caught up after my check was returned. They gave us no credit toward principle and all money was applied toward interest. My November payment as another 4 payments this year have all been taken for interest only. No late charges are asessed to the account but no principle is paid out of these payments.
I was harrassed about insurance after Fairbanks Capital was created. This is just another office in the Jacksonville Headquarters and is subsidary of NationsBank alias Bank America. The insurance is not for the customer it is for the mortgage holder to make a profit and to raise your mortgage. We had an insurance policy continually but had to contact the Insurance Commissioners Office in Tallahassee to get them to remove the premium from my mortgage.
I have forwarded this link to my lawyer to get him to do a class action suit. Actually all the complaints on this site I has experienced with Fairbanks Capital.
JOE
LIVE OAK, Florida
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