My wife and I have been trying unsuccesful for almost 4 years to resolve many problems with Fairbanks Mortgage Corp.
After they purchased out home mortgage loan I found a discrepancy. Our interest rate was being charged as a simple interest loan for 30 years. When they got the loan it was a fixed rate loan for 15 years.
I contacted them a number of times by letter and phone requesting a Certified Signed Copy of our original mortgage agreement. They told us to contact the previous mortgage holder to get this document. We contacted them, and was told that since they no longer handle our mortgage, we would have to contact Fairbanks as they should have the informatinon for us. After almost 4 years we still have not received this document, and they are still ignoring our request.
We have also had a number of other problems with Faribanks such as:
1. Placed some of our payments in a suspense fund and tried to charge us a late fee.
2. Threatened foreclosure because they claimed we owed a payment which we had already paid.
3. Tried to charge us $195.35 for a notice they sent us of a past due payment when the payment had already been paid. We found this charge hidden on our monthly statement under a charge they called "Other"
4. Notified us that we did not have proof of insurance and
would get their own insurance which they indicated
would be almost 12 times the real value of our home. We did have insurance proof through our previous mortgage holder.
I contacted Fairbanks early January and they have still refused to send a copy of our original mortgage agreement. Since then, I have called 3 more times to try one last time to settle this matter, before I take legal action.
Fairbanks has not returned any of these calls and I have contacted my 2 North Carolina Senators. I am in the process of filing complaints with HUD and FTC and an Attorney.
This Company needs to be stooped before anymore families have to go through what my wife and I have for almost 4 years without a settlement. If there are anymore families in North Carolina that are having problems with Fairbanks Mortgage please file a complaint and maybe we can get a class action suit against this company that has not shown ethical business conduct.
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