My mortgage was bought by Fairbanks Capital and then later I thought it was bought by Select Portfolio Services. I had no idea that Fairbanks had changed their name. Even though we were added to a class action suit that settled with Fairbanks at 10% of the bogus billings they charged us and were found at guilt, but the loophole is that they can "CAHNGE NAMES and continue to conduct bussiness." I now understand why.
The statements I received from SPS wasn't showing our payments being credited to our account. I knew they had been made, had bank statements, checks, etc., but could never get anyone with SPS to verify my payments. Of course, fees were involved, and payments became very inflated without any schedule of fees being provided to me by SPS.
Everytime I would call, I would get the run around about my payments being posted. This was just the beginning. Next, my escrow account is in the negative. I am getting letters from SPS stating I had no homeowners insurance. I faxed dec pages, had my agent fax declaration pages, sent invoices of the insurance being paid without any acknowledgement from SPS. The taxes on my home were not paid, and the county sent me a letter to notify me of unpaid property tax and the foreclosure procedure. SPS can't find the escrow funds, said the county had made a mistake but they had a solution.
All I need to do is send in the disputed amount, they will settle it, and then they will refund or credit my account. I send in $15,800.00.
The next thing I get from SPS is a notice of foreclosure. It is the first thing I had received from them, other than monthly statements. No phone calls, no nothing. While SPS was working on my escrow, they discovered I am behind on my payments, which I am not, and they intended on foreclosing on my property.
Now, understand, I am on the phone, talking to SPS and all of the representatives I speak with are now very rude, very condescending, and very blunt. They tell my now all my friends will know I don't pay my bills, etc. I even had one lady tell me, and I quote, "Sir, instead of wasting your time arguing with me, you need to be putting what little stuff you have in boxes and get out." I have never been so furious in my life.
This company needs to be stopped at all cost. Everyone should be writing to their representatives and or the attorney general. I wrote them almost 2 years ago to get help without any aid. Please contact me if there will be another suit as I want to join ASAP. My home is in jeopardy