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Getting us to Default


ynkewmn
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Until last year, never missed a mortgage payment. Started to have financial trouble and had one late payment. Then we received a nasty letter about having financial troubles and what we could do,,, yadayada.

The next month, we weren't late but almost past the 15 day grace period, that we have before late fee is charged. We again, received a letter, only this time, it was how we could maybe get in touch with someone about selling our home,,yadayada. This is a company whom bought the loan from a lender we refinanced with in 2002. This is a company that neglected to pay our property taxes the first year they bought the loan, until we received a final collection letter and first noticed our property listed in the local newspaper for TAX SALE! (We have an escrot account)

This is a company that held my check (but am not able to prove) so that our payment would be late. This is a company that now is mysteriously charging us a delinquency expense (for what, dunno) when we are not late? Would consider late, if paid after our 15 day grace period?? We were never charged this, if payment was received after the first day of the month, but before the grace period ended.

This is a company whom claim a payment we made on the first day of the month, was received on the 4th of the month, when I have a return receipt stating they received it on the first (due date). Again, another delinquency expense. Hmmm... they haven't cashed the check yet.....

This is a company who's branch, we are currently involved in a collection lawsuit.

This is a company you should stay CLEAR AWAY from,, heard of other horror stories.....

SO, anyone know as to how to handle this? We are in contact with a lawyer, and will be sending copy of our mortgage papers for review.

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There's an entire website devoted to this type of fraudulent activity.

http://msfraud.org

They didn't like my recommendation of sending out letters, with proof included, to all of Fairbanks Capital's CEO's, CFO, Vice-Presidents, and President's neighbors. Thought it was juvenile. I thought it was hilarious.

::hmpff::

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After posting here, had visited the "msfraud" site, and too my horror, it identified with what seems to be happening to us. I guess one doesn't realize until your either in financial trouble or just by incident you miss or are not credited for a mortgage payment, what could happen. Anyway, in our case, the saga continues. I made a payment this month,"CRR" as to have documentation, received on the first. Got next mo. statement the other day, shows Oct. payment credited on the 4th. Much to my dismay,

I checked with my bank, they haven't cashed my check! Now I will be charged a late fee!!!! I will have to investigate it come Monday, but, it appears to me, they are holding the check as to making the payment late.

Question to anyone; What is the difference between Mortgage Lender and a Mortgage Servicer? We refianced our loan back in 92 with one lender and shortly thereafter our mortgage was transferred to another. I will have to look through my paperwork, as I don't recall how/why it was transferred.

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For those who are interested, Fairbanks Has a name change to Portfolio services, another butt in the clouds, too many class action suits against them, i got my $300.00 plus from them! i like to check out the big class action lawsuit.com site! This is for the big clowns!!!! 8-)

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