Fairbanks Capital dba Aames Home Loan Worst Mortgage Company on Earth Salt Lake City Utah

Predatory Lending has to be Stopped!

North Carolina has passed some new laws on predatory lending. Have you contacted your Attorney General in North Carolina?

Class Action "proposed settlement" Re: DBA: Aames!

I received class action settlement notice from the class counsel on a suit filed in Los Angeles Superior court. UNFORTUNATELY, I have not been able to get the class counsel to tell me the terms of the proposed settlement! They will not return my calls or my emails. They told me they had too many calls and that maybe I should "opt out". FAT CHANCE!

It appears that along with this scumbag predatory lender, we (the class) are now having to deal with a PREDATORY LAW FIRM! The settlement only provides for the lawyers to get over $110,000.00 in fees while the plaintiffs get "bent over" again.

If ANYBODY knows anything at all about the proposed settlement, please post your info below so everyone will know.

Typical

As someone who works in mortgages, I can honestly say that this sounds like a very typical, and emotional response of someone who has been in financial difficulty dealing, who has been dealing with the added stress of trying to keep their home, they probably resorted to a low credit-grade, expensive debt-consolidation refinance loan ( especially with property values being up and interest rates being low), and now their angry that either the loan didn't work out, it was more expensive than they anticipated, or it still didn't solve all their problems.

The reality, and this is only experienced speculation, is that they were probability "up a creek" to begin with, and they need someone to blame, and if things aren't working why out why not the "predator" who is charging "points", "high" interest rates, and "fees". But the truth is banks and broker have to charge these higher fees because these people are a MUCH higher risk, and if it wasn't for these types of banks, willing to take a greater risk, these people wouldn't own houses.

Class Action Fairbanks Settlement Finalized May 13, 2004

All the lawfirms that have filed class action lawsuits against Fairbanks, I think there are 6 of them, joined together into the United States District Court for the District of Massachusetts and filed one gigantic lawsuit, United States of America, Plaintiff, v. Fairbanks Capital Corporation. and Fairbanks Capital Holding Corporation, Defendants. Also Alanna L. Currey, et al., individually and on behalf of all others similarly situated, Plaintiffs, v. Fairbanks Capital Corporation, Defendant. The reason they did this is noted in the first few pages of the paperwork on the legal documents entitled Civil Action No. 03-12219-DPW and Civil Action No. 03-10896-DPW. Basically Fairbanks said in this document that they would appeal and keep the court action going indefinitely. Remember Fairbanks is only one of 20 of these lenders who are a small part of a much larger financial problem involving insurance companies such as PMI, who is on the New York Stock Exchange.

Listen, if anyone cares. To really fight these people do not buy insurance on anything. It is the fact of buying insurance that makes the tremendous profits that this group feeds on. Do not buy insurance and vote for change. Insurance policies started out as extortion fees to protect crooks interest in keeping what they had, and was illegal in the courts. Somehow we made it legal and legislated its right to do business.

Also,if we register to vote, and vote all those out of office who think this form of extortion is the way to do business we can make change for our children.

The websites like rip off report do make a difference. There is a class action lawsuit created by the United States of America: by us. Think of what can be done if we just register, stand in line, and vote. We have to register ahead of time to have it legal. Think of what can be done if we remove insurance as a part of our life. We can make a difference.

Typical? Yes, you are. Your pompous attitude reflects the attitudes of the predators and money grubbing brokers who will say anything to get the "deal done".

Well, thank you for assuming you know it all Mr "in the mortgage business. First of all, my credit and income are not factors in my case. I make plenty of money, can obtain the lowest interest with the most favorable terms and my credit score is near 800. Your pompous attitude reflects the attitudes of the predators and money grubbing brokers who will say anything to get the "deal done". You are not part of the solution, you are a contributor to an ongoing issue that the government has ignored far too long.

But I do want to thank you for validating my opinion of most people in your trade, ignorance of the issues/concerns of the consumers, narrow-minded, black and white thinking and boorish arrogance.

not anymore!

I think "Mr. Mortgage Business" probably hit on a nerve. But maybe I'm just being arrogant. Say, "reneged on forbearance agreement", doesn't that mean YOU couldn't pay your bills? .... I bet you don't have an 800 credit score anymore. And I very arogantly bet their's definately more to this stroy than the "big bad mortgage boogey man".. p.s. sub-prime lender's won't do people with 800 credit scores (fairbanks is a sub-prime lender) unless their is something really screwy and risky about the loan, which considering the word foreclosure (which is not usually good at all for the bank I would add)... apparently is right!

response - agree to go into forebearance?

If your not in a "high credit risk situation", then why did you agree to go into forebearance?