I know someone who has had the great misfortune of dealing with this "mortgage" scam company and has been bilked of thousands through false fees, harrassed, etc. I know many people have sued them and won. If you know of a lawyer, preferably who works on contigency, who has the expertise or experience with these crooks, please post or email me privately.
They are the worst!!! here's some websites that I have found helpful, since we are stuck w/ them for another 10 months thanks to a freakin' prepay. www.ripoffreport.com www.conti-fairbanks.com www.edcombs.com
I'm a mortgage banker, and I've had dealings with this company before. They are a real pain. Their customers complain of being charged bogus fees and being forced into foreclosure. Personally? Their customer service is a nightmare. When I try to order a pay-off on a refinance loan, I get the runaround and they drag their feet all the time.
Don't even get me started on them! They foreclosed on us and we were never behind. We paid AHEAD 4 payments, but they applied the payments elsewhere and would never account for them. They added on thousands of dollars in fees.......If I had the knowledge in 2000 that I have now. I'm getting ready to sue them. They foreclosed on us August 2, 2000. They are reporting a foreclosure in June 2001 on both of our Experian reports and have verified (twice) with Experian. I requested procedural from Experian and am ready to sue for damages. We are being charged 2 points higher interest on the house we a are buying and 4 points higher on our car, just because they have the date wrong (it is inside 2 years the way they report). I have the court papers to back up the 2000 date. I hate them!!!!
I too have Fairbanks mortgage They are saying that I have a simple interest mortgage and consequently my payments are going directly to interest and none to principle this has been going on for 7 months I am in the process of trying to refinance my house but still have some credit repair to do. I do not think that I have a simple interest loan. I was not informed of this when I signed the papers two years ago. I think they made this up to get more money out of me. Can you imagine 28 years from now if I had not caught this and thought that I had almost paid off my house and have a comeback like this "Sorry Grannie your have paid 150,000.00 in interest only on your home you now owe us another 70,000 for the principle!
This sounds like predatory lending practices. There are many companies being or have been sued for this. You shoud do some research.
I have retained an attorney to take care of this he has read the original note and it is not simple interest. I just hope that Fairbanks doesn't try to mess with me while this is going on. They are a very very very bad company to do business with. According to various news media they are in big trouble
Stop everything that you are doing. Go to www.conti-fairbanks.com and read the news update, discussion forum and legal areas. Then go to www.ripoffreport.com and start reading the posts there. You are not alone.- GET THE BIG PICTURE on this company. The usual stuff an attorney does in situations like yours will not work with Fairbanks. You are dealing with a company whose business model has little to do with servicing mortgages and everything to do with stealing the equity in your home. Fairbanks is under criminal investigation by HUD, the FTC, and numerous other federal and state agencies. Their CEO was the founder of a company associated with one of the biggest securities fraud ever. There are numerous class action suits against them for the type of stuff you are experiencing. The class action suits and criminal investigations don't seem to have deterred them. Your attorney needs to know who he is dealing with. Print enough stuff from the two web sites for him to get the big picture and realize who he is dealing with. Make sure you print some of the lawsuit complaints that are available on the www.conti-fairbanks.com web site. Fairbanks thrives on the failure of borrowers and attorneys to realize who they are dealing with until it too late.
