Complaint Review: Fairbanks Capital Corporation - Salt Lake City Utah

Fairbanks is a subsidiary of Bank of America. I thought this was interesting.

I see all these complaints and responses including my own complaint but are we getting any where? FairBanks Is still taking houses and putting good people out of home what a wonderful country.

It sounds like when your home loan was sold, the incorrect information was transferred to the outfit buying the loan. Consumers have protections in place, and RESPA outlines the responsibilities of both the agency buying and the agency selling the loan. You are supposed to receive written notification from both lenders regarding the change with appropriate contact information. To take a home loan with no previous late payments and push it to the point of forclosure certainly sounds actionable. Research your rights by doing a search on the internet under "predatory lending" "truth in lending" "fair credit reporting act" and "RESPA". Each of these areas are governed by different regulating agencies. I would encourage you to file a complaint with as many state and federal regulating agencies as possible. With interest rates so low, many lenders are sliding into predatory tactics in order to try and stay profitable. Lost paperwork, tacking on insurance or other ridiculous charges, not giving consumers payoff information, not reporting payment information to credit bureaus so consumers can have their good payment histories on their credit reports, etc. There are all kinds of tactics that taken individually might look like an oversight or a mistake (and in some cases might be) however, put together and examined, you will see how the behavior enriches the bank and sticks it to the customer in a number of ways both financial and emotionally. Why should a customer have to spend hours on the phone or writing letters trying to straighten out a problem not of their making? If the regulating agencies see a pattern of abuse, the outfit will get cited, fined, and have to answer to their regulating agencies for quite a long while, as well as offer restitution to customers hurt by their predatory tactics. Look at some of the recent settlements-- Household Finance,Conseco, Citibank, and some other big names have been fined millions of dollars for predatory tactics. Notify the regulating agencies in your state as well as HUD of your problems with your mortgage. Good luck with your case!

It seem that Fairbanks has a great interest in accounts in trouble. They made a mistake trying to steal my home as my account was current when they received it. The company that sold my loan to Fairbanks held back $1,000. of monies paid, making my account seem to be in the rears in order to complete the sale with Fairbanks. Even when Fairbanks realized that one month of the monies they were demanding was due from Country wide, the company that sold the loan, they are still to steal my home. I sent our story to Oprah's web site for consideration to be broacasted on her show. I also directed her to look up Rip Off Reports for Fairbanks Capital Corporation so her producers can see more so what is going on. This also will help those who does not have internet to express what happened to them and yet they lost their homes. The more contacts we make with the Media the better. Thank You,

I want to update what happened with our home. On Monday, Jan 6, before our home was to be sold on Wed., Jan 8, of 2003, I received a phone call from Fairbanks lawyer who was covering our case. Thank God for getting a lawyer who seemed to truly care!! and help me. We found out the foreclosure had been dropped. First of all, I never got that "phone call every week until this thing is finished" from the person at Fairbanks foreclosure department. I had to explain everything that was going on to their attorney. I also sent a package to their attorney just like the one I sent Fairbanks. Anyone who has paperwork to back up the fact that Fairbanks screwed up, be sure to send it to Fairbanks and their attorney who sends you a letter about the foreclosure by certified mail. Hopefully, you'll get an attorney who will care and try to help you since you can be sure you will not find that in any office that belongs to Fairbanks. Their attorney had the paperwork I sent them turned over to the problem resolution department. She stayed on the phone or e-mail with this person taking care of our case until she got results. The foreclosure was dropped but we still can not make payments until Fairbanks gets their mess straightened out in their computers. I was told that all the late fees, foreclosure fees, attorney costs, everything but our payments will be taken off. We'll wait and see about that. I won't pay more than our payments! Now we have found out that we could file a lawsuit against Fairbanks but since they did drop the foreclosure, there's a slim to none chance that we'd win anything. "because no judge or jury cares that you suffered mentally, you have the best cases when your home is taken from you wrongfully." Wow! what this world is coming to! So, I now have a phone bill for $50 for out-of-state calls to their attorney to try to get this fixed along with attorney costs (thank God for a friend of my aunt who is an attorney and helped us out with getting the forced insurance taken off). Also, we won't go into the 2 months of crying, worrying, explaining to our children why we stayed upset constantly (through Thanksgiving and Christmas and New Year's)--what about pain and suffering??? What about a poem that my 11-year-old wrote about now realizing how her house became a home to her and what it meant to her for someone to try to take it, and for the Lord to "please take me away". What about the fees I paid out to send this paperwork to them by mail to prove that we were in the right (something that they're getting paid to take care of). What about the countless hours I spent on the phone begging someone to please take this insurance off and fix our account (before and after the foreclosure started). What about my insurance agent who took time out of her work (not the first time but the numerous times) to send them over and over again proof of coverage for the same year. What about the days I spent at home waiting by the phone for the call to tell me this is over--when I should have been out taking care of things for our home or taking our children to the library--a routine for us every two weeks--or the countless nights that we lay awake thinking about what was going on and what was going to happen. Yes, I am very thankful for the foreclosure being stopped and not having to file bankruptcy to keep our home and for the attorney that helped us, but no one should ever have to go through this! I hope everyone reads the report filed on Feb 3, 2003 from Pompano Beach, Florida. I have been sending out paperwork by mail to news media but I am going to e-mail these two stations as well. I have also sent my e-mail to our state Attorney General. If I can't get even an apology for what they've done, and have no grounds for a lawsuit, I do intend for the news media to get this and for everyone all over our country to know what's going on. I also sent a "Letter to the Editor" to be printed in our paper the week after our foreclosure notice was printed so people would know the circumstances and know what can be done to them by big companies. The best way to stop things like this, is to let others know. I am very thankful for this website and have been telling others about it as well. I am still in disbelief how widespread this problem is with this same company and how many complaints there are here on them--and they're getting by with it.

Another consumer being taken to the cleaners suggested recording all your conversations with every agent you talk to. Start your recording by first getting their name, then state what the problem is and get them to agree that you can fax your proof of insurance etc, then state what you have been told previously by another rep and that you had no success getting the issue resolved, and then tell them that you are recording this conversation. Next, fax your proof of insurance and call back. Again, start recording by getting their name and tell them you faxed proof of insurance, tell them what you discussed previously and then tell this rep that you are recording the conversation. Do this until you get results. The person that made this suggestion said that he always got results fast. If I remember correctly, a supervisor even cut into the conversation and made sure that everything was taken care of. It's worth a try. Personally, I put this suggestion in my 'file xyz' for future reference.