Select Portfolio Services aka Fairbanks Capitol Corp. has added home owners insurance to my loan as of last November. They had requested proof of insurance the first of December 2004 and my insurance company faxed it to them and mailed it to them. I also called them to confirm they got the fax and they said they did so I assumed all was well. The policy didn't expire until April 27,2005. Then again in February I received another request for proof of insurance. I again had my insurance agent fax and mail them a copy of the insurance. Needless to say, this is the same pattern of Fairbanks Capitol Corp. So when the next letter came in April, I called SPS and talked to an associate who refused to identify herself and was told they never had received any proof of insurance so once again I had my insurance agent fax and mail both last years policy deck sheet and this coming years deck sheet. I called SPS back and the associate I got that time I told that if I got one more letter from them requiring proof of insurance, I was going to hire a lawyer and sue them because they may have changed their name but they sure haven't changed their business practices. About two weeks later, I got a letter in the mail that said they had canceled the insurance they had placed on the property and credited it back to my account from November 2004 but I never saw any money credited to any of my statements. Come to think of it, my $400 house payments don't lower any balances either. Not principle, not negative escrow not taxes... nothing. I think it just lines their pockets.
After this confrontation over the insurance, they filed a motion to Lift a Stay so they could proceed with forclosure on my home. The had caused me so much trouble in the past that they forced me to file Chapter 13 Bankruptcy. Their reason for the Stay was missed or late house payments. Failure to provide insurance on property etc. Luckily, I have all my canceled checks and insurance deck sheet etc. So it looks like the Bankruptcy Judge isn't going to let them have the Stay.
At this point, I'm ready to sue them. I would like to cause them as much greif as they have caused me. ( and I'm sure hundreds of others) I would like to know if there is a lawyer out there that would be willing to take this case and if anyone else would like to join and maybe make it a class action suit.