My wife and I had a mortgage with EquiCredit and the loan was sold to Fairbanks Capital. That was the beginning of our troubles and problems.
They sent us letter after letter about our insurance, claiming we did not have any. After every letter I had to call and then fax them and/or have our insurance agent send it to them. After the 3rd month of this, we received a letter that the house payment we had just made went to an escrow account and that $0.00 went to principal and interest, and that we needed to make our house payment and late fees due to the fact that the money they received was for insurance.
After fighting and arguing over this for a month or so, we sold our house to shake off this company. When we did so, the closing agent asked for a payoff amount, and in it were 2 months of late fees and an unpaid monthly mortgage payment that we had already made. And if that was not bad enough, they charged us over $6000.00 for what they called a prepayment penalty. We had to contact them by mail, fax and phone for over a month to get our payoff, and this is what they pulled on the day we were closing. So we called them and asked them to explain this, and 4 different people from Fairbanks Capital told us that if we proved all the facts we claim, they would issue a check within 30 days of our closing.
We closed at the end of December and have been fighting with them every week since. I will continue to call every week, although it has not gotten me anywhere. After seeing the report on Fox 13 News last night and finding out that we were not the only ones being ripped off, the next call to them will come sooner!!
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