Select Portfolio Servicing, Inc (aka) Fairbanks Capital Corp. Different name same old ripoff scam Returned Payments, Held, Didn't Apply Payments, Excessive Unexplained Fees, Ruined Credit Report, Foreclosure Jacksonville Florida

Hi Pam.

I applaud your tireless efforts to prevail against this company and its fraudulent practices.

My husband and I, unfortunately are one of the MANY casualties of this company's predatory practices. After 4 years battling with them, we finally lost out home. I work for a law firm and was unable to win. We finally sold our home of 16 years rather then lose it but our credit is ruined. We are now renting a house and contemplating if there is any way, given the difficult economy we now find ourselves in, to recover from this. We are an older couple so this hit us hard.

We were a member of the nation-wide class-action suit against Fairbanks (it was settled last summer and payouts were made). We received a lousy $300.00!

To those of you out there just beginning, or still in the fight, DO NOT, under any circumstances cease to make payments (even if they tell you to wait because your account is in "DISPUTE"). If they refuse the payments, place your payments into an escrow account with an attorney so you may fully settle your account after your court proceedings or whatever other legal avenue you choose to pursue. And always remember who you are fighting - they are a Lender and it is my observation the Court system leans in their favor - NOT the Borrower's - because the Courts still operate under the impression the Lender would not bring an action against the Borrower unless it was valid. There is no allowance for the fact that there are now predatory lenders. Very sad. So we all are unfortunately, the ones on the front lines who will bring about a change. I believe it will come but at a very high price - the loss of thousands of American's hard-earned dream - their home (and credit score).

To those of you just beginning your fight - document, document, document. I cannot say that enough. Document every phone call (time, date, person you talked to, their title, their contact info., etc.) Document their response to your query or problem. Send all your correspondence via Certified Mail - RETURN RECEIPT. Give them no opportunity to say "We didn't get it", etc. They could not even keep track of proof of insurance we sent VIA FEDERAL EXPRESS. The docs got placed IN A DRAWER despite the instructions to respond back to me! Copy every document you send and put your request for a response in the form of a letter (not an email, phone call or fax). Send them a letter, stating your problem and very strongly ask for a response. If they do not respond in thirty (30) days you have recourse through the Agreement they signed with the Court (Federal, I believe) as part of the class action settlement. There is now a borrower's bill of rights they are SUPPOSED to follow in dealing with their customers. You can access this document, most likely, by doing a search on the Internet. It is pretty specific about how they are to deal with customer complaints, pending foreclosures, etc.

To Pam (and all you out there) good luck in your fight. I hope you prevail and can keep from becoming a statistic. Check in with your State's Attorney's office if SPS doesn't respond to you. The State's Attorney may be able to assist you or at least open an investigation of your complaint which can stall any action(s) SPS is trying to take. For those of you who have been asking for mortgage history or an explanation of SPS's charges, etc. and have gotten nowhere - SPS MUST and WILL provide this to your State's Attorney's office if an investigation is opened and YOU WILL BE COPIED. Use this avenue of help.

To the person who was able to get the foreclosure off their report - I would love the details on how you did this.

Pam - I would love the contact info for your refinance company.

Keep up the good fight!

They are refusing to accept the refinance money and offer because they say I owe them another $1878.13 by next week. Let me know where I can also file a complaint. I don't see how I have accrued almost $2000.00 in fees for 4 days.

Holly,

Is there anyway we could speak? My husband and I just found out what game they are playing with us. Who is your guy?? We would love to get him to help us also. We are in Florida and are in bankruptcy but they are trying to take our home even though we are current with our payments. My husband is on disability and we have 3 kids and no where to go if they get away with this.
We just found out through this site all the names they go under and guess what they have our first and second mortgage under different names and then called us using another one saying they would refinance our home to get us out of the bankruptcy and lower our payments. They kept saying not to send payments in that we would close anytime and not to worry. Did this for almost 3 months then Equicredit sent us notice that they were going to force us out of bankruptcy and start procedings to take the home. The real kicker is that on the bankruptcy papers it says we are paying Equicredit but when we get letters of what is owed on the mortgage it comes from SPS. The second mortgage is EMC and the one that called us to refinance is Aames Home Loans. Only after we sent them documentation stating when the last payment was sent to Equicredit or whoever they are did they suddenly deny the loan for no reason except we are not making payment when in fact we are through the courts.

Holly please find a way to get your guy to call and help us we need it fast or they will have us living in the streets. Send the info to Rip-off Report and they will forward that to me.

Dear Pam,
I am jammed up with Fairbanks, SPS and now Ocwen. I want OUT! Who is the guy, how do I find him.

Well, it certainly has been a struggle, but to all those battling SPS/Fairbanks, DON'T GIVE UP!! I didn't and was finally able to refinance and get away from them. It took 2 months and ALOT of documentation, but we closed with Oakstreet Mortgage on 6/7/05. I was finally able to get SPS to take the foreclosure off my credit report!!! I was only able to be this diligent because I have not worked since Dec 2004 and have applied for disability, otherwise I might not have been successful. I still have big plans for SPS/Fairbanks!! I have a 3-inch binder of documentation, have used their own attorneys against them, etc. and I am going after these @#*&!# *^%#@&@ with both barrels. I plan to take them down.

IF ANYONE NEEDS A COMPASSIONATE PERSON (WHO HAS BEEN A FAIRBANKS CUSTOMER)TO HELP THEM REFINANCE, I HAVE YOUR GUY!!!