Consumer Law, Warranties Taylor Bean & Whitaker mess

[amanda84frank82]

We closed with Bank Mortgage solutions with $3,000 dollars down for our FHA loan. Very soon after Taylor Bean & Whitaker bought our home loan. We received confirmation and a (few pay slips) of and for this through Bank Mortgage Solutions though we never received any type of notices and or invoices from Taylor Bean & Whitaker themselves. We used the 6 pay slips we received through the months of June 2008 & November 2008. Come December 2008 we received notice of a temporary lay off for 3 weeks at our place of employment. We sent in our hardship letter to Taylor Bean & Whitaker and they did not respond by letter or phone. Come January of 2009 we received our income tax at the end of the month totaling $13,000 dollars, $7,000 dollars of which was to provide new home owners a chance to become current on their mortgage. At the end of January 2009 I wrote out a check for $3,000 for Taylor Bean & whitaker to cover payments through December of 2008, January of 2009 and to then proceed to cover February's payment as well as any late charges that may have occured. Only to have this check returned to me with a letter stating Taylor Bean & Whitaker didn't hold my loan. We then checked our credit report and in fact the report revealed that Taylor Bean & Whitaker did hold our loan. Upon phoning into this company and writing numerous hardship letters and sending checks in we were not helped and they proceeded to let our mortgage fall further behind to foreclosure status and auction, without allowing us to exercise any of our rights and programs available to us and or accepting any payments or full reinstatement amount. At this point Taylor Bean & Whitaker have been raided by federal agents and have had their doors shut and employees let go. My mortgage files are all corrupted and I am receiving no help even still from Bank of America who are just un-ethicly picking up where the corrupted files left off. I am also being told that my mortgage and insurance payments were used to provide paychecks to Taylor Bean & Whitaker's Employees. The only solution I can come to in these matters to protect myself and my money is to wash my hands of this contract and its entirety. I am also open to any professional suggestions as to what other options may be legally available for me and my family.

Thank you

 

[Michael Wechsler]

I'm sorry to hear about your story, another sad tale in the sickening corruption that goes seemingly unpunished. I can tell you right now that you will not be able to just walk away from your mortgage because of some wrongdoing in payment handling. At the very least, you owe the money you admit you owe and there is a debt holder.

What's the best way? Writing a certified letter to a specific individual who may manage your account at Bank of America. I don't know all the details and won't presume that this is the case with you, but with regard to "hardship" that you are talking about, 9 out of 10 times such a claim is an attempt to wash away a default. You don't and cannot automatically just qualify to not pay your loan or pay your loan on different terms because you don't have the money. That is not an excuse and, technically, you may have defaulted.

This said, you may be 100% right about your money being used for the wrong purposes and rights you may have had, ignored by employees. If you want to prevent foreclosure, you had best get hold of the legal department at BOA and fax a letter to them, providing a clear run down of events and proof. Don't make it too long. Get to the point at the beginning. And you must provide some proof, not just that you have hardship, etc. With regard to time being of the essence, an attorney might provide quicker results and craft a better correspondence/call, even though you should be able to do this yourself (you just can't be wishy washy.) Good luck and let us know how this turns out.

 

[jharris352]

I don't have time to adequately address your concerns right now because I have to leave. I have 15 years in the mortgage and legal fields under my belt and I am intimately familiar with even TB&W whom I have done business with. LawProfessor always gives good answers and I will give you one when I return and can put some thought into it. Sorry to hear about the mess but you have options. Don't let anyone tell you that you don't.