Complaint Review: Fairbanks Capital Corp.

My mortgage was sold to fairbanks from Equicredit,which I had been with for 3 years and never had a problem.

As soon as they took over I got threatening lettters,exhorbitant late fee notices,and in a month a foreclosure unless I paid over $1500 in mostly charges.

I was lucky to have an escape in my 401K for foreclosure threats.

Then in the process of trying to get my own insurance,they sent me a notice and said my insurance through them would cost $1200.00 a year,and only cover the house,no contents,this would cost me $106 a month.

Then a month later i geta nother bill for $1400 that will be added to the monthly bill at a rate of $121 extra per month.

This takes my little payment from $457 to $691 for the next year.

I am paying $2600 for homeowner's insurance for a year.

If I had my own I could pay $270 a year.

My mortgage has not even been with Fairbanks for a year and I have already paid last years insurance in that threateening foreclosure letter.

This is obscene.

That is a car payment.

Mark
Mckeesport, Pennsylvania