I live in new mexico and I have been with fairbanks for almost three years.
Our loan got transferred from Olympus to Fairbanks.
we have a mortgage/impound account, which means that our mortgage company pays our insurance and our property taxes from our escrow account.
well I had no clue that our taxes had not been paid for almost 3 years, when I found out I sent my tax bills to fairbanks and I had 30 days to pay them or the county would take our property and auction it off, well fairbanks didnt know why the escrow department didnt pay the taxes and stated that I didnt have enough funds to pay the taxes.
so to prevent the property from being seized by the county, fairbanks paid my taxes, which they were suppose to be doing all along, and there should have been enough in my escrow account cause they were suppose to be putting a part of my mortgage payment into my escrow account.
so here we thought that they paid the taxes for us and it was in our escrow account all along, well low and behold we have a pay cut in our income and my husband almost gets laid off so we got behind about 3 months, so we get emergency money out and we are expecting to pay about 2800 dollars to get caught up and not be foreclosed on, when fairbanks decides to change our mortgage payment from 824.40 to 1147.00!!!
I couldnt believe it!!! we can barely pay 824. a month, what makes them think I can afford 443 bucks more!!! so I disputed it and told them the money they paid for our taxes should have been in my escrow account all along, it wasnt our fault that someone in their department was pocketing the money, where did our escrow money go the last 3 years??? and no response from them, other than we have to pay them back the amount that they paid for us on our taxes!!!!
now we cant catch up because we dont owe 824 anymore now we owe more!!! I sent letters to the customer advocate department, to the escrow department and I dont know if I will be foreclosed on or not, according to the fairbanks customer service department everything is okay as long as I make two payments. so its a night mare, and I want to refinance but no one will because we are showing that we are 3 months late, cause we cant pay 1147.00
thanks for listening.
anthony, New Mexico