In May I entered into a Forberance Agreement with Fairbanks to putt my property out of foreclosure and catch it up. I made payments on time and in the full amount requested for 6 months.
During that time, I had conversations with a Fairbanks representative and was told that my loan had been adjusted and the payment I was making would be the continuing one, and that my loan had been extended for 35 years to accommodate any monies owed above and beyond the actual loan. Like a chump I fell for it. I October, I got a letter saying that my October payment had not been received.
I had a certified receipt for the payment and proof that the money had been taken from my account prior to the due date in October. The rep from Fairbanks finally agreed that the payment had been received, but when I asked for some sort of written statement from Fairbanks confirming my continuing payment, I was told that Fairbanks would never have agreed to that, much less the Foreberance agreement that I had been paying on for 6 months.
For November and December of I tried to talk to Fairbanks about my loan and got the total runaround. The only time a rep told me anything was when they came up with a payment of $200 over my present payment, and I told them that I couldn't financially do that.
On December 13, a gentleman came to my property saying that he was a handyman hired by the owner to look over the property and see what repairs were needed to resell it, and that the place hand been sold at a trustee sale about 2:30pm. This was at 4:30 pm. At 7:30pm another gentlemen came saying he was representing a company that went after monies for the people that got their properties sold.
He said that the place had been sold for $67 at acution (the note was for $127K approx.), then sold again for $84K, then sold again for $94K. I had not been notified of the sale prior and did not know that it had gone into foreclosure.
After seeing a lawyer, the attorney called Fairbanks and after several transfered calls, etc., he talked to a rep to find out that yes it had been sold because the November payment was supposed to be $11 K. There was nothing in the Forebarence agreement stating that, and Fairbanks claimed that they didn't have to tell me that, nor did they have to inform me of the trustee sale.
After a battle with the then present owner, I was evicted by a court order and told by the owner that he wanted to move in and always wanted a place in that area. Three days after I moved out, a "for sale" sign went up in front of the property, and no improvements or anything were made to the house.
My loan was at 12.9%, I had been living there for 6 years, and tried to negotiate with Fairbanks for lowered interest rate, or extended payments to save my property but I guess they can do as they wish and just take it away, sell it for peanuts, and go on to screw the next person. They go by the golden rule - he who has the gold, makes the rules. These people should be stopped.
I wish there was some way to get my property back, especially now that it is for sale again, but I now have a foreclosure on my credit report and probably wouldn't qualify for anything. My credit is ruined, I have lost my home, my daughter has lost her livelihood because she raised Labs and was supporting herself on that property, and I at 56 years old, have a damaged reputation through no fault of my own. I am a victim to a lender with no heart and no business ethics.
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