Fairbanks Capital Corp
Four certified-check payments cashed late, forced-placed insurance

This all started about 3 years ago with this scam to try to take our home. My wife and I refinanced our house and had been put with Alliance Mortgage Company. Shortly after, the mortgage was sold to Fairbanks Capital (early in the year, January or February). Coming back from vacation in late July, we got a message on our phone that our mortgage was now in the process of going into foreclosure.

We contacted Fairbanks Capital to investigate. All we got in return was a guy basically laughing at us and telling us that we were going to lose our home. After checking with the bank, we noticed that our payments for the months of April, May, June and July had not been posted (we used certified checks). The bank told us that they had not yet been cashed.

After making about 8 or 9 more phone calls to Fairbanks Capital trying to get some kind of solution to this problem, we found out that, BINGO, all four checks had been cashed in a matter of two days in August. Then we got a notice that we owe these "late fees." I had read that in Utah there is no law on when a mortgage company has to post a payment. That is well and good in Utah, however, our home is in Michigan.

I am so upset right now I can't even keep my thoughts straight. My wife and I eventually refinanced to get away from this in February, only to find out in May that Conti Mortgage sold our mortgage to who? YOU GUESSED IT: FAIRBANKS CAPITAL. Now, with my wife 6 months pregnant, we have to deal with these clowns who can't seem to go to a bank, cash a check and apply the money to what it was intended for.

We get this song and dance that our money is in a holding account. Holding for what? Are you kidding me? Yes, holding for interest that they can keep. If you add it up, I guess it is about 40,000 plus people these people are taking to the cleaners, and not only taking the house (or trying to), they are taking money that doesn't belong to them in the first place. Something has to be done about this company for the sake of all who are going through this.

One more thing that was funny, and I think I should pass this on. My wife opened the mail the other day and it said that Fairbanks Capital is putting force-placed insurance coverage on our home because we haven't provided proof of insurance. Funny thing is that our agent faxed the proof SIX times to them. How do I know this? Because I'm the agent!

Company: Fairbanks Capital Corp
Country: USA
State: Florida
City: Jacksonville
Address: PO Box 551170
Phone: 8009441212

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