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Taylor Bean and Whitaker Trouble: Continued Mortgage Bankruptcy Hearing Update

By
Services for Real Estate Pros with Think Glink Media

Taylor Bean and Whitaker Trouble: Continued Mortgage Bankruptcy Hearing UpdateWe’ve learned that hundreds of thousands of mortgage borrowers are scrambling as their funds have been frozen; we were told that Taylor Bean Whitaker loans were to be ported over to Bank of America's Home Loan Services group and performing Freddie Mac loans were supposed to go to Cenlar, a legitimate loan servicing company.

What do you do if you receive letters from two different mortgage servicing companies claiming that each one of them is going to service your Taylor Bean and Whitaker loan? While the problems persist, we’ve just received news that the next Taylor Bean Whitaker hearing is scheduled for November 5th. For more information, you can take a look at the past hearing documents from the United States Bankruptcy Court.

To read the full article and to view the documents from the United States Bankruptcy Court, logon to ThinkGlink.com.

Show All Comments
Monica Bourgeau
Portland, OR
Business Coaching

Thanks for the update, we had a client with a Taylor Bean & Whitaker loan that closed just a week before they closed their doors. Their loan was delayed for 4 weeks and the communication from them was horrible, we didn't know if we were ever going to be able to close because we couldn't get answers.

Oct 23, 2009 02:48 AM
Ilyce Glink
Think Glink Media - Chicago, IL
Best-selling author, award-winning TV/radio host.

Hi Kevin and Monica, thanks for reading. What you're going through is difficult, but hopefully we've been able to help a bit! You can find more related articles at ThinkGlink.com

Oct 27, 2009 03:21 AM
Anonymous
Barbara Burtnett

My loan was sold to Taylor, Bean & Whitaker when we refinanced last year for a lower interest rate.  I sent my August payment...then we were turned over to Bank of America.  I have been paying all of my payments on time, but Bank of America continues to show that I am one month behind due to the TBW mess.  That August payment does not show up as being made!  I have called Bank of America several times to resolve this problem and am told not to worry...it is not being counted against me.  This last time I called, it was suggested that I go to my bank and get a copy of the check from the August payment.  When I did....the check had cleared but it appeared the name of TBW had been erased or whited out!  There is no name to which I wrote the check to....just a blank line, but you can see tell-tale signs of writing.  It was endorsed to Colonial Bank in Florida on the back.  Now what should I do....will this still be proof of my payment?  Should I contact a lawyer or the FL State Atty. General?   Thank you!

Jun 11, 2010 11:55 PM
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