Fairbanks Capital
Mortgage sold to servicer with $500 late fee on $1,300 payment

So what happens when you do business in good faith with Fairbanks, making your payments on time, as I have, ever since they bought my mortgage from some other two-bit outfit?

Well, you might think there'd be some sense of decency and fair play on their part - after all, the word "Fair" is in their name, right?

Wrong. Because last month Fairbanks sold my mortgage to an even sleazier outfit; Central Mortgage Company of Little Rock, Arkansas. And when I received the payment booklet from those good ole boys, imagine my surprise and delight when I saw that their 15-day late fee is (better sit down) $500, on a monthly payment of $1,300.

Hey, I don't know about you, but I'd rather do business with Tony Soprano.

Mind you, I have no intention incurring any "late fees." (Who does?) But I'll be damned if I'm going to do business with some outfit that holds a gun to my head and shoves its hand into my pocket, "just in case." Like they don't already have enough power, being able to foreclose me into the street, anytime they damn well please.

But I guess that's what we deserve for doing business with the likes of Fairbanks Capital.

Let the buyer beware!

Ripped Off in L.A.

Company: Fairbanks Capital
Country: USA
Site: fairbankscapital.com

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