Fairbanks Capital Corp AKA Olympus Loan Servicing ripoff - "lost" all my escrow money, never paid taxes or hazard insurance, doubled my mortgage payments ripoff business from hell Salt Lake City Utah...
These are evil awful people. My mortgage was sold to them in July. It was sold with an escrow balance of $2,400.00. I paid my full 288.00 per month into escrow, along with the rest of my mortgage payment, faithfully all year. They never paid my hazard insurance and it was cancelled. I had to pay it myself. They never paid my taxes and I receieved a notice of tax sale and redemption from the city. Yet my escrow had diminished to 1,900.00.
When I tried to get an answer on the phone, I was told that "attempts were made to pay your city taxes." My city taxes have not been paid, even now, after talking with them and being assured they would put a rush on it (on 1/15/03). Yet, they had not trouble doubling my mortgage, from 643.00 per month to 1112.00 per month. They are claiming an escrow deficit of over 2000.00. Where did all my money go? On the phone they admit the huge increase in mortgage payment is a mistake and even said I could just pay the usual 643.
But then, guess what, I got a delinquency notice, now with late fee, for the 1112.00. When I called they told me they had dropped it down (the web page says my mortgage is now around 843.00 still way too high for my taxes, which they aren't paying anyway), and I only had to send around 250.00 I'm learning. I asked for written documentation that I only had to send the 250, but they were unable to provide that. Statements go out of a different location. Blah Blah Blah. I'm sending the full amount. Don't want to give them anything to charge me late fees about.
Luckily, I have parents who can help me out. Otherwise I'd be in serious trouble. The crazy thing is, as far as I can tell, what they're doing is legal. They can have computer errors that jack up my monthly mortgage payment to ridiculous amounts, and then charge late fees and, eventually foreclose (which I gather is their favorite game), because of non-payment, because I am required to pay the amount they are asking while in dispute about the increase.
The dispute could take years. Without my parents, I'd lose my house before I could possibly get this resolved. These people must be stopped. I've sent a letter to 60 Minutes, and emailed Dateline. I encourage others to do the same. This is a newsworthy story. Don't let them get away with it. Fight back.
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