Fairbanks Capital Corp (FCC) purchased EquiCredit Corp (That's what they said.) and assummed my second mortgage.
Ironically, this occurred just after I had sent EquiCredit a certified letter requesting them to stop the intimidating and harassing telephone calls regarding my loan payments.
Even though I have proof I was one month ahead, EquiCredit said I was always behind and owed late charges. This is when my ignorance of predatory lending practices got me in trouble.
I refused to pay the new loan servicer (Fairbanks) based on my principles of what is right and what is wrong, and I felt I could easily consolidate my 1st (8.5%) and 2nd (13.7%) mortgages into a much more affordable loan considering the prevailing 6% rate for prime candidates.
I received some very bad advice from a potential lender who told me not to pay the second mortgage. I now think that person worked on behalf of FCC. Had I defaulted on the loan, which they tried their best to make happen, FCC would have stolen $20,000 or $30,000 in equity from me.
I am now stuck in the sub-prime category for a year or more because of the payments I was forced to make to save my home from foreclosure under the forebearance agreement with Fairbanks Capital Corp that I was fortunate enough to negotiate. The majority of unsuspecting people who find themselves in this situation are not so fortunate, and the thieving scum bags at FCC prosper at their (and all of our) expense.
Fairbanks is in Salt Lake and Jacksonville, Florida. (EquiCredit?) Even though my forebearance commitment is fulfilled, they still say I owed $200.00 in late charges. My last payment was due 20 March. I made that payment on 7 March through Wells Fargo Bill Pay and FCC did not acknowlege receiving it until 17 March. They received it and did not credit it to my account - The online statement still says my payment is due 20 March but my late charges are down to $38.02.
I sent them a certified letter about a month ago requesting a comphrehensive and accurate accounting of all transactions and they have yet to reply.
The time for me to act is now! This web site is where I start. I shall demand compensation for past and future financial setbacks caused by these low-life predators and I shall pursue their (and all similar enterprises) elimination.
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