Dear Judy in Mass. And all the others,
I too have been ripped by Fairbanks, but I fought back and won.
Their partner in this scam was Bank of America. I think they taught Fairbanks how to squeeze that extra profit on mortgage payments. Here's what BofA and Fairbanks do with your payments..
Once you send them the payments they simply leave them in the Post Office box until after the late payment date, usually the 16th of the month.
Then they send over someone to pick all of them up. Technically they weren't "received" until after the late payment due date.
What I did was send a Return Receipt Request and Signature Card with my payment. They must be signed for by their employee and returned to you. Cost $4.00, but it's worth it.
I did this to BofA about 6 times and each time my payment was signed for on or before the 16th of the month! Believe it or not, each subsequent month I was billed for late payments!
Each year the University of Michigan's Economic Dept. Does a consumer survey of the top 200 or so companies and guess what? The BANK of AMERICA rate #1... in customer DISSATISFACTION.
I wrote to the Chairman of the Board of BoA and showed him all of my signed and DATED return receipts and demanded my money back for alleged late payment.
I also stated that I knew of a class action suit in FL regarding these same practices they had done there. This letter to him was also sent with a Return Reciept request. That gets attention.
Within a week some lacky called me and stated, "we're soooo sorry this happened and don't know how it could have been done"?
Yea right. Within 10 days I got all of my money back.
This goes
on..
BofA sold the mortgage to Shi_-for-brains... Fairmont
Capital!
Fairmont continued to do the same thing! I also sent my payments to them with the Return Receipt Request. It went to their lock box in Phil. And was not signed for. I had to call and get a street address so they would have to sign for it. That worked.
I also sent them a very nasty note telling them what crooks they were and actually got my money back. I have since payed off the loan and am still really pissed at their actions.
There are a lot of good banks and mortgage companies, but these 2 don't fit that description.
My last letter to Fairbanks was so nasty that they sent back a late fee that I actually owed. There is a God!
Last thing, there's a legal case where a lien was place on a house and wasn't taken off after the lien was cleared.
The owner lost a sale and sued. The plaintiff had to pay damages to the home owner over economic hardships. Get a lawyer and sue the bastards over this! I hope you win.
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