Fairbanks Capital
Widow, 75, faces foreclosure after servicer collected late fees from second lender

On June 24, I entered into a forbearance agreement with my 1st mortgage lender, Fairbanks Capital, which reinstated my home loan to a current status. I paid the required $1700.00, down payment, I paid my July 30 payment on time, I paid my August 30, payment on time. I was just notified by the lender on my 2nd mortgage that they have started foreclosure because on july 24, 30 days after I had brought my account current with the 1st, (I have never been late on the 2nd) the 2nd paid Fairbanks Capital $8000.00, this was $5000.00 for late fees & the payments I was behind, in addition to the added fees and costs of foreclosing, the holder of my 2nd is red sunset, inc, they claim they had to advance these payments to protect their interest due to default on the 1st, I wasn't in default anymore.

I'm a widow and I'm 75 years old, I can't just start over. This just can't be legal. I have performed every obligation required I perform as outlined in my agreement with Fairbanks Capital. Fairbanks refuses to refund this money to red sunset so the foreclosure continues. I am going to lose my home. It all comes down to who can afford the most legal, it's obvious who that will be.

Iv'e researched this extensively, I am certainly not alone, there are thousands of victims, I hope this warrants an investigation. Something has to be done to stop this company. People need to go to jail. At least they will have a roof over their heads, I wish I was going to be that lucky.

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

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