Fairbanks Capital Corp
Payoff Accepted but Mortgage Release and Deed Still Not Received

After 6 years being with Equicredit, I was notified that I was behind on my mortgage payments, also insurance for coverage, late payments and interest, and I was to remit such a ridiculous amount of money to Fairbanks Capital Corp who now owned or bought Equicredit Corp. I was basically told to pay in full or foreclosure proceedings would begin.

I talked this over with family and friends and was advised to pay the amount asked for or I would lose my home. My Dad was so concerned that he offered to pay off the loan, so that my family and I would still have somewhere to live, and he believed I was being ripped off in every way, especially the harsh interest rate, I believe was 11.9%.

My Dad said he could come up with $50,000.00 to pay off the mortgage, and he would hold the deed, title, so forth, until I arranged to pay him off. I asked Fairbanks to accept this as payment in full. I originally borrowed $56,000.00 est. And was told after paying aprox, $557.00/ mo. For about 6 years, that my payoff was more than the money I had originally borrowed years ago. How can this be?

Fairbanks finally approved $50,000.00, in lieu of foreclosure. The Bank check was sent Certified, Return Receipt Requested. It was signed for and cashed by April. I am still waiting on Release of Mortgage and Deed. I have contacted them numerous times, and I was told this takes time, Bullshit, not a year. What is going on here? I've been calling this number that I was given from Mr. Sheldon Van, (904) 722-7806, at least a hundred times to no avail, it is constantly busy, try it.

I have been paying my Dad back since March and I still have no title or release of mortgage. My Dad and I are very discouraged and want what is due to us. I believe I have been ripped off from the very beginning, and I am still being ripped off even though I have paid them off. I hope someone can make this fraudulent company pay!

Company: Fairbanks Capital Corp
Country: USA
State: Florida
City: Jacksonville
Site: fairbankscapitolcorp.com

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