Fairbanks Capital Corp
Who says they are fair?

I too, have had major problems with Fairbanks (wrong name as they are not fair). I received a letter on 2-25-02 from Fairbanks stating they had purchased the servicing rights to my mortgage effective 2-05-02 and my first payment to them was due on 2-15-02.

Right away, this did not sound good. Also stated that I owed them 142.25 late fees.

It got to the point that I decided that the home I have had for 28 years was not worth the stress and constant battle with these people.

I thought about bankruptcy but decided not to go that way. I did a forebearance sale to stall the foreclosure sale and try to sell my home, and they would never answer my phone calls to give me the payoff.

I had a minimum of 4 parties that wanted to make an offer but wanted to know what the payoff was. So, I stopped making the forebearance payments.

Then I received a letter from the attorney in Miami (I live in Ft. Myers, Florida) stating the foreclosure sale was being reinstated.

I called Fairbanks to my loan servicing "representative" and asked her what were the alternatives. She stated that they could put me back on a forebearance plan but I had to pay $5,000 up front and they would give me 60 days to sell. At the end of that time, I had to either have it sold or come up with another $6,000 to reinstate the loan.

I said no. I called the attorney yesterday (and Monday and Tuesday, leaving messages and finally threatening them) and finally got something other than voicemail and asked that since the foreclosure sale was to be today, 3-19-03, how long did I have to get out or would the sheriff padlock the doors today.

I was told that it would take "them" 10 days minimum to obtain a certificate of title and then they would have to do an eviction and serve me. I said whatever.

Today, 2 of my close friends, one of whom was trying to buy the house and made an offer which was faxed to Fairbanks and rejected, went to the foreclosure sale.

Totally unbelievable!!! They announced that several sales had been canceled and the only things sold were 4 businesses. Was I notified of the sale being canceled. NO! And I spoke to their lawyers office yesterday.

Totally ripoffs. I am going to try to contact the attorney in Jacksonville to see what I can do. I had already decided to seek legal advice.

Would I want to keep my house. Even having spent the majority of my life in it, I can say, absolutely not. This company has taken all of the joy of having my own home away from me.

Hopefully others can learn from my experience and I truly appreciate what others have been through and know it is the truth. Everyone, hang in there.

Company: Fairbanks Capital Corp
Country: USA
State: Utah
City: Salt Lake City
Address: P.O. Box 65250
Phone: 8888186032

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