We spoke today with Sandra Sheley, director of mortgage supervision for the Georgia Department of Banking and Finance, for an update on Taylor Bean & Whitaker. Sheley said that on Sept. 11, there was a hearing in the bankruptcy court to address who would service what loans (many customers have been getting notices from two new, different loan services) as well as who will handle the deposit accounts holding escrow funds. The judge ordered, and the both sides agreed, that the service of those accounts will be resolved by Oct. 31.
We had a question from a reader who works at a title company wondering what to do with the recorded deeds of trust and final title policies. Sheley said it will be a waiting game on that end, as well. “Hopefully all those issues will be solved by Oct. 31,” she said. “The can contact Taylor Bean in the meantime, but I think it’s just as easy for them to wait.”
Read more about the Taylor Bean Whitaker Situation at ThinkGlink.com and join in the conversation in the comments section. We’ll do our best to help find the answer to your question, or you might find another person in the comments section who can help you out.
Taylor Bean Whitaker Home Page
Taylor Bean & Whitaker Mortgage Company Frozen Accounts
Taylor Bean & Whitaker Update September 10, 2009
Taylor Bean & Whitaker Mortgage Company Update From Sandra Sheley, Georgia Department of Banking and Finance
Taylor Bean and Whitaker Mortgage Company Hotline Information for Borrowers
Get this, through medical need I got 2 months behind with tbw. I tried to work out a payment agreement, tbw said they couldnt help until I was 3 mths behind, they also told me they wouldn’t accept a little each month. After months of trying I made arangements, $1000 on the 28th $600 on the 3rd of following month. I sent money order $1000 on 28th, on 3rd I sent $600 as agreed. on the 4th I recieved the 1st payment back when called tbw said it was sent back because it was not total owed and they would send back the 2nd payment as well. Well they did send it back but after my late date which made me 3 mths late. Late date 15th, 17th notice to foreclose, 20 days to move. I called tbw told them as soon as the 2nd payment was returned I would send payment. finally got 2nd payment called to tell them it was on the way, the amount owed was @2800 instead of $2300 [2 payments+current month] the next day I called told them I could do it but will take all my bank to do it, tbw changed the amount to $3200. I found out chapter 13 with intent to pay tbw would help me save home. Went and did ch 13 after 6 mths and after a campain of emails to govt and bank officials tbw called and said they would remodify our loan. In order to do this I needed to close my ch13. The week I received the papers before I could I could sign them cnn said tbw was under investigation, called tbw couldn,t get them. Next thing we knew Bank of America sent us stuff saying they were our lender. boa is no better. Boa notified us we were 1 year behind not showing escro or payments durring ch13. I have spent hundreds of dollars faxing mailing proof to no avail. Every mth I get a notice to acellerate foreclosure, my payment has increased from $678 to last statement $1200, ealier boa told us to keep making payments and as soon as they recieve monies from tbw they will credit our account, so I make my normal $678 payment which is applied to last years corrisponding month and shown as partial payment. So my Aug 2010 was applied to Aug 2009 which ads to the confusion on their part, because same month different year. The Hope Team not to be confused with BOA’s hope team [I tried dealing them for mths before I realized I was still dealing with boa] the real Hope Team found out I was within guide lines for the affordable housing program we did a confrence call [before this my payment statement was $678 the same as tbw’s] on the phone they said my payment was $8something which threw us off balance by around $200 so we wouldn’t qualify. They would not redo or remodify our loan until we have been with them for 1yr. Now the year is up. Wed before labor day weekend we recieved a call they were verifying our income and were sending papers for our modification by fedx, should be here before fri,monday[the holiday]came, tuesday came still nothing, called with caller id number from wed, boa had no idea why someone would call with this kind of info and we were sceduled for something around the 23rd but couldn’t disclose what it was, probably the monthly notice to acellerate foreclosure or maybe notice to move I dont know. This is only a small piece of our story I wish I could go back in time and change my decision to refinance but Hindsite….