Insurance Companies To Taylor, Bean & Whitaker Customers – “your bill’s in the mail”

By
Real Estate Agent with Coldwell Banker Townside

Remember that whole Taylor, Bean & Whitaker mess?  It’s been on my mind since it happened, I think in part because I have friends whose mortgage is with TBW.  And one of the questions they asked was “where do I pay my mortgage?“  Word to the wise … keep paying.  They’ll tell you where to send your next payment.

But what hypocrisy, because as homeowners are making their payments to Taylor, Bean & Whitaker, it’s highly probable that the company is not making the necessary payments to the municipalities and insurance companies on behalf of those same borrowers.  I dug around a bit today and am starting to hear that that in fact is the case – more and more companies are probably going to begin reporting that escrow payments from TBW are not being made.

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Comments (1)

Tina Merritt
Nest Realty - Blacksburg, VA
Virginia Real Estate

Scary stuff.  Maybe there should be a "cash for klunkers" program for borrowers to refinance out of their mortgages with these types of companies....(and let TBW keep the klunker!)

 

Aug 25, 2009 07:38 AM

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