Complaint Review: Fairbanks Capital Corp.

Fairbanks Capital refuses to give me the payoff amount of my loan. They are asking for the original Truth In Lending Statement and the Arm and Rider from the oringinal loan back in 1977.

Fairbanks does not have any problems with this adjustable loan rate mortgage when it comes time to adjust the rate every six months to the maximum rate, with or without the Arm and Rider. Why would they need the document for the payoff balance.

Fairbanks is NOT the original lender of the mortgage as it was sold seven or eight times over the past ten years alone.

Fairbanks has not and would not apply any exrta monies sent and noted on the mortgage coupon to either principle or escrow and could not explain where the monies were applied. At the end of 2001, they contended the escrow balance was not enough and monthly payments were raised by $600 per month. They would NOT provide an account statement for the previous year after numerous written request.

Fairbanks is a ripoff from Hell!

Robert
Dallas, Texas
U.S.A.