Fairbanks Capitol Corp
Ripoff - I spent months of faxing, calling, etc. - nothing getting done. Salt Lake City, Jacksonville,Fla, Louisville Ky

Our loan was bought by Fairbanks in March 2001. There have been so many problems with our loan that it has definitely been a roller coaster ride.

The first thing that happened was they did not pay my mortgage insurance via my escrow account. After months of faxing and calling different numbers and they finally admitted it was there fault.

Fairbanks then overpaid my mortgage insurance. They sent them 3 years worth of payments out of my escrow account! They were only to pay for two years, or the past years premium which was 2001 and the current year of 2002. This in turn over drew my escrow account.. now my escrow is at a negative balance. (By the way this is still not correct)

Since my escrow was in the negative they automatically adjusted my premiums to reflect "the new mortgage payment". I was sending in my regular payments and I have since found out that they will put your payments in a suspense account untill there is enough money there to make a "full" payment. This of course started the foreclosure deals...stating I was behind in payments. Again months of faxing, calling, etc. Nothing getting done.

This past January my Western Union payment was returned as they said they could not take any regular payments since I was in foreclosure. I never received a letter or anything from Fairbanks stating I was in foreclosure! We were forced to sign a forebarance agreement with payments of over $1,000.00 per month. My reguar payments were $635.00.

I still can not get anyone there to fax me anything showing what fees I am paying for. I check my account just about everyday just to keep watch on them. It is so screwed up that I don't know if anyone or anything will ever be able to straighten this out. Checking on my escrow blance... it states that I have a balance of $8.51 in the account, but according to the statments, $91.62 per month is going towards my escrow? Which is correct? Who knows?

I have sent in two payments in April which would cover my April and May 31st payments. Guess what.. the April payment is showing posted. However, the May payment is not showing posted on my account. That check was cashed on 4/18/03. I am just waiting for the next "boxing match"!

I have also filed a complaint the HUD... and this past Friday we received a package from them wanting to know more information about Fairbanks...due to the volume of complaints in there office!

Maybe there will be a light at the end of this horrible tunnel! We have tried to refinance, but Fairbanks has ruined that chance.


Offender: Fairbanks Capitol Corp
Country: USA   State: Utah   City: Salt Lake City,
Address: 3815 West Temple

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