Fairbanks Capital Corp
Charged $1800 yearly for forced insurance despite existing $400 policy

Fairbanks bought our mortgage from Trans America in June of about one year after we bought this house. We had problems with our payments being processed from the time they acquired the loan. We've been to court twice to fight off foreclosure and both times the case was dismissed.

Also, this is the second year in a row that Fairbanks claimed that we did not have homeowners insurance, even though THEY PAID IT from our escrowed account.

Last year we were able to resolve it. This year we got hit with the $1800/year insurance that Fairbanks provides. My insurance is actually under $400/year. I have been in contact with them on many occasions in the past three months and thought it was resolved each time, but every month we got a new letter, the last one was certified.

I had my agent fax them all of the information and had our attorney send them the same information. We still do not know if the situation has been settled.

My personal thoughts: Perhaps Fairbanks Capital is a terrorist cell placed in America, undermining our financial security at the heart and financing their cause at the expense of 600,000 americans.

Look at the name of the founder, Tom Basmajian, that name sounds Arab enough for me to have Tom Ridge or some of his homeland security team to do an investigation to actually see where all that money is going. Even if the money isn't going to Saudi Arabia or Iran, it would be interesting to see where $60 billion of unexplained fees and insurance premiums alone are going when Fairbanks is supposedly scuffling to find funding to continue to operate.

Anyone know Tom Ridge personally? If so, put a bug in his ear.

Company: Fairbanks Capital Corp
Country: USA
State: Utah
City: Salt Lake City
Address: 3815 South West Temple St

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