Taylor Bean & Whitaker Bankruptcy: Who is Representing the People?
When mortgage company Taylor Bean & Whitaker (TBW) filed bankruptcy in August, a lot of everyday people were left in a lurch. Some didn’t know to whom they should send their mortgage payment. Some, like me, received escrow refund checks that bounced. Some found out the hard way that their property taxes hadn’t been paid from their escrow accounts. And some were left with two mortgages on the same property.
As if that weren’t bad enough, a few days ago I received this comment by Lucy on one of one of my older posts:
I got my annual free credit report and TBW reported me late for Sept, even though my payment sat in their facility for weeks without being processed because of their limited staff and besides countless assurances they would not be reporting anyone late. I called and they are correcting it, however just wanted to let everyone know they should check their reports, just in case!
So now, in addition to being out sometimes thousands of dollars, we need to worry about our credit being hurt? Because let’s face it. TBW hasn’t exactly been honest up to this point. They say they will fix the credit report problem, but I’m not going to believe it until I see it.
This whole situation makes me angry, and it’s time someone stood up for the people who have done nothing wrong – people who paid their mortgages on time every month are now being given the runaround everywhere they turn. And nobody seems willing to help.
As of right now there are 325 comments on my post about my bounced escrow refund check in September. In addition, there are 156 comments on my non-update in October. It has been 4 months, and most former TBW clients are just as confused as ever.
What We Know
Currently, the Taylor Bean & Whitaker bankruptcy is being handled by the BMC Group in Florida.
The Honorable Jerry A. Funk is presiding over the case.
Escrow refunds have not been released.
The next hearing is January 22.
What We’ve Heard
From my call to TBW: The escrow money is there, and we will get it back. TBW is just waiting for the judge to release the funds. They’re being released in stages.
From a call by reader Armando to Tiffany at the FDIC: TBW should be finished reconciling their accounts, and should have supplied the information to the bankruptcy court. A ruling will be made this spring as to whether or not they’ll release the money.
Did you notice the discrepancy? TBW says we’re getting our money back. The FDIC says maybe/maybe not.
We’ve also heard from various sources that we need to file a claim with the bankruptcy court to get in line for the money owed us. But we have not been told what to put on the claim form.
The following is a good example of the questions we have, but have no answers to, in this process. Jennifer commented,
I just spoke with Sheila, I think that is her name, in the debtor’s attorney’s office. She told me to file a proof of claim for this money (I am one of those that is owed escrow, but never was issued a check) and that another motion was going in front of the judge on January 22nd. I asked about getting our money back, more looking for a when than an if, and she could not give me a straight answer. So then I asked her if I would get my money back and she still did not give a straight answer. I am beyond nervous at this point…
…When filling it out, I did not know what to put in for the secured credit part. They ask what you are secured by. This is where it gets a little cloudy. This money is ours, it is not owed to us for services; they were holding it in trust, so I do not know what to put down as to what we are secured by.
I am slightly uncomfortable filing a claim as a creditor because I believe we are not creditors. It is our money. We should be given our money before operating costs, before payroll, before everything. They should be sending back the money that is not theirs, but was being held in trust for us.
Is there anybody who is looking out for the consumer in a case like this? You know… a court appointed somebody. I mean, how do we know our case is being represented correctly?I know the other major creditors have attorneys and I just hope someone is looking out for us. Anybody have any ideas on this?
I wish I had the answers. My questions are the same a Jennifer’s. Are we creditors? Or are we under different rules, because escrow monies do not belong to TBW?
What We Don’t Know
The biggest problem here is that we, the innocent people who got caught up in this mess, don’t know where to go for accurate information. The FDIC, TBW, our mortgage brokers, and even the courthouse offices give us conflicting information.
We watch for news reports, but the few reports out there only highlight the problems, which we know all too well. There seem to be no solutions. Quite frankly, that’s not OK with me.
While we spend hours on the phone and on websites, trying to figure out the next steps we need to take, TBW and their creditors no doubt, have expensive lawyers lobbying on their behalf. Does anyone else see the problem here?
My Mission and How You Can Help
I’ve told you already that I’m angry. I’m angry because I’ve been wronged in this situation. I’m angry because I have read every single comment posted on this subject, and it’s heartbreaking that so many people are without their hard earned money and without answers as how to best proceed to get that money back.
For those who are in this mess with me, contact your congressmen. For those who read this site and would like to help, please promote this article. I would love to see this issue get in front of eyes that have the power to do something, whether that be a government official or someone with media clout. Maybe a little coordinated public pressure will get us some answers.
I’ve never been one to go down without a fight. My biggest fear is that when the final court judgment comes in, it is we who have the most to lose that will receive the least.
Photo by walknboston.
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Author
By Lynnae McCoy, on Jan 14, 2010
I'm Lynnae, wife of one and stay-at-home mom of two. I'm committed to getting out of debt by being frugal with my choices in life.
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Thankfully we were only with them for 2 months when they went bankrupt and everything seems to have transferred to our new mortgage company without problem. But after reading this I will definitely have Mike look over our credit report to make sure there are no problems there.
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As a public office holder, or a candidate for public office, I affirm that:
1. All just political authority is derived from the People, and government may only be established and maintained with their consent.
2. The People of each State have the sole and exclusive right and power to govern themselves in all areas not delegated to their government.
3. A government without limits is a tyranny.
4. The Tenth Amendment defines the total scope of federal power as being that which has been delegated by the people to the federal government in the Constitution, and also that which is necessary and proper to advancing those powers specifically enumerated in the Constitution of the United States. The rest is to be handled by the state governments, or by the people themselves, as they determine.
5. In order for a federally-exercised power to be “necessary and proper” it must be a) something that, without which, would make the enumerated power impossible to exercise, and b) a lesser power than that which has been enumerated
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7. The phrase, “general Welfare,” in Article I, Section 8 does not authorize Congress to enact any laws it claims are in the “general Welfare” of the United States. The phrase sets forth the requirement that all laws passed by Congress in Pursuance of the enumerated powers of the Constitution shall also be in the general Welfare of the United States. This was affirmed by James Madison when he wrote: “With respect to the words “general welfare,” I have always regarded them as qualified by the detail of powers connected with them. To take them in a literal and unlimited sense would be a metamorphosis of the Constitution into a character which there is a host of proofs was not contemplated by its creators.”
8. The federal government is not authorized to tax the People to raise monies for unconstitutional purposes. Likewise, the federal government is not authorized to condition funding to State or local governments on compliance with mandates which require them to do what the federal government is not authorized to do directly.
9. When Congress enacts laws and regulations that are not made in Pursuance of the powers enumerated in the Constitution, the People are not bound to obey them.
10. When the federal government exceeds its Constitutional authority, a nullification of the act is the rightful remedy. Without that remedy, the People would be living in a tyranny, under the unlawful and excessive control of one or more branches of the federal government.
As a public office holder, or a candidate for public office, I promise that, as long as I hold office:
1. My votes will always be in favor of the Constitution of the United States and the Constitution of this State. Every issue. Every time. No exceptions. No excuses.
2. I do, and will continue to, oppose any and all efforts by the federal government to act beyond its Constitutional authority.
3. I will proactively introduce and support measures designed to adhere to the Tenth Amendment and preserve, to their fullest extent, the powers of the People in my district, and of the legislators and administrations of my State.
4. I will introduce, sponsor and support a resolution affirming the sovereignty of the People of each State under the Tenth Amendment to the Constitution of the United States.
5. I will introduce, sponsor, and support legislation that seeks to repeal laws and regulations that are outside the scope of the powers delegated by the people to the federal government.
6. I will introduce, sponsor and support legislation that provides such relief as is necessary and proper to provide fair redress to the citizens of my State in response to actions by the federal government which exceeds its Constitutional authority.
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Yes, I guess it is real easy to say I am just ranting- but really, go research the court cases pertaining to what I have stated!
The original note that you signed is no longer available or retrievable.
Therefore the bank’s evidence of a contract is lacking.
Meaning. If the bank can’t produce the contract. It has no proof that you are indebted for the property.
It is really awful that the Banks were paid with “We The People’s”
tax dollars to bail them out- and now they are still stealing We The People’s homes & land. What is wrong with that picture?
Then odooma places this man as chair in the Federal Reserve another 14 years- who could not explain where Trillions of dollars went of the TAX PAYERS DOLLARS? What is wrong with that picture?
Then odooma wants everyones bank account numbers to pay monthly payments for his BS Scamplan that even him and his dogs do not wish to be partakers in themself- well who in the hell is going to even want a bank account # or even do business with banks who scam them on their homes?
Now- if some of you trust banks go ahead, you will learn fast. As for odooma not having anything to do with bailouts- yeah ok. While we have trust worthy crackpot running our country- and the only thing out of his mouth is health care plan- Where is his concern for where our tax dollars went?
Why if he is such a grand president isn’t he intercepting the actions of the Banks we paid in full already?
well go research his plans. Google it, do so anywhere else- on Donald Young and Larry Sinclare! David Manning isn’t pleased with the scammer at all!
I just wonder- how can banks get all them tax dollars and get by with stealing?
Thank you for writing this post. I cannot believe this hasn’t been resolved yet. I have written my congressman, senators, and the local news. The only response I got was from my congressman saying basically it will get resolved and I am owed this amount Blah Blah Blah. No help there. There has got to be someone with some ties to local media or something that can help.
No, the MEDIA will not cover this. The congress people don’t care one way or the other. I have no reason to lie to you. Its like this- The media would have already been all over this but they have been told not to cover this!
I will state this one more time: If you did ( NOT ) SIGN any CONTRACT with BANK OF AMERICA- then you have no BUSINESS paying them.
Ask them for all origional loan documents !
Contact me at:
debdgg@aol.com
Megan- I would rather live under a bridge any where than pay Obama’s secured investments.
You really don’t know what you are talking about. The banks are responsible for this mess and we the people elected politicians who deregulated the banking industry. This has been going on for quite some time. Corporations own our politicians and if we don’t get up to speed on what is going on we’re all screwed. Wake up!
The State Pledge
As a public office holder, or a candidate for public office, I affirm that:
1. All just political authority is derived from the People, and government may only be established and maintained with their consent.
2. The People of each State have the sole and exclusive right and power to govern themselves in all areas not delegated to their government.
3. A government without limits is a tyranny.
4. The Tenth Amendment defines the total scope of federal power as being that which has been delegated by the people
to the federal government in the Constitution, and also that which is necessary and proper to advancing
those powers specifically enumerated in the Constitution of the United States.
The rest is to be handled by the state governments, or by the people themselves, as they determine.
5. In order for a federally-exercised power to be “necessary and proper” it must be a) something that, without which,
would make the enumerated power impossible to exercise, and b) a lesser power than that which has been enumerated
6. The “Interstate Commerce Clause” in Article I, Section 8 of the Constitution, does not permit Congress to regulate matters that merely affect commerce
among the States. It only permits Congress to regulate trade among the States.
7. The phrase, “general Welfare,” in Article I, Section 8 does not authorize Congress to enact any laws it claims are in the “general Welfare”
of the United States. The phrase sets forth the requirement that all laws passed by Congress in Pursuance of the enumerated powers
of the Constitution shall also be in the general Welfare of the United States.
This was affirmed by James Madison when he wrote: “With respect to the words “general welfare,”
I have always regarded them as qualified by the detail of powers connected with them.
To take them in a literal and unlimited sense would be a metamorphosis of the Constitution
into a character which there is a host of proofs was not contemplated by its creators.”
8. The federal government is not authorized to tax the People to raise monies for unconstitutional purposes.
Likewise, the federal government is not authorized to condition funding to State or local governments on compliance with mandates
which require them to do what the federal government is not authorized to do directly.
9. When Congress enacts laws and regulations that are not made in Pursuance of the powers enumerated in the Constitution,
the People are not bound to obey them.
10. When the federal government exceeds its Constitutional authority,
a nullification of the act is the rightful remedy.
Without that remedy, the People would be living in a tyranny,
under the unlawful and excessive control of one or more branches of the federal government.
As a public office holder, or a candidate for public office, I promise that, as long as I hold office:
1. My votes will always be in favor of the Constitution of the United States and the Constitution of this State. Every issue. Every time. No exceptions. No excuses.
2. I do, and will continue to, oppose any and all efforts by the federal government to act beyond its Constitutional authority.
3. I will proactively introduce and support measures designed to adhere to the Tenth Amendment and preserve, to their fullest extent, the powers of the People in my district, and of the legislators and administrations of my State.
4. I will introduce, sponsor and support resolutions affirming the sovereignty of the People of this State under the Tenth Amendment to the Constitution of the United States.
5. I will introduce, sponsor, and support legislation that nullifies, within my state, actions of the federal government which exceed its Constitutional authority.
6. I will introduce, sponsor and support legislation that provides such relief as is necessary and proper to provide fair redress to the citizens of my State in response to actions by the federal government which exceeds its Constitutional authority.
7. I will introduce, sponsor and support legislation which refuses federal funding made on condition that my State comply with federal mandates not authorized by the Constitution.
8. I will only vote in favor of a bill that I have thoroughly read, considered and understood.
9. I will be accountable to voters. Upon request, I will make public every vote I cast while in office.
10. I will keep this pledge public, and will provide a link on my website which directs constituents to the text of this pledge.
Office-holders and office-seekers, please download, sign, and email to us as an attachment to pledge [at] tenthamendmentcenter . com
I was just wondering about this situatilon the other day. Although I am not affected directly by this, it infuriates me no end. Are the property taxes even going to be paid? Have you considered contacting the local media? You are owed straight answers to your questions. Please keep us updated.
I believe property tax responsibilities were eventually passed on to the new mortgage holders, so I think that’s being sorted out. It wouldn’t surprise me if there were glitches with some people, though.
Hey People, there is something you also need to address : I called Bank Of America because they stole my husbands Escrow and claimed they didn’t have proof we had home insurance! They just took it! So I called them requesting DOCUMENTS showing a signed contract between the parties and they don’t even have them!! It is time to wake up people- where is the proof that you even OWE on your home??? There is none! There is no contract between you & bank of america ( Obama’s Bank). when Taylor, Bean, & Whitaker was shut down, supposenly all document = PAPER were shoved in boxes some where- yeah right. We have requested and requested and they can’t provide anything. It is time to stand up and say no more! They stole from we the people our TAX DOLLARS as BAIL OUT and now- the tables have turned! Do not pay for something you didn’t contract with!! Do no fall for THREATS of forclosure when they have NO DOCUMENTS TO PROOF YOU FINANCED IT WITH THEM! ASK FOR ALL THE DOCUMENTATION PERTAINING TO YOUR LOAN OF ORIGINAL DOCUMENTATION WITH WHOM YOU WERE FIRST WITH!!! DO NOT! DO NOT – SIGN ANYTHING WITH BANK OF AMERICA!!! contact me at duggerdebbie@mycitycable.com
Deb I agree with you about missing loan documents and the fact that the new servicer doesn’t have our loan documents but Obama’s bank pleassse WTF are you talking about. Bush started the bailout and the deregulation of banks is the problem and corporate money buying our politicians.
Call your state rep, congressman, governor, the white house, and just raise hell until someone listens to you.
this is my home email so I won’t be able to see your response unless it’s posted on here. But…I sent registered, return reciept requested letters to TBW, Colonial Bank, BoA, Fl. Gov. Charlie Crist, FHA Asst. Sec. David Stevens, and Fl. Attorney General Bill McCollum. The response from each of them was “yes you have a problem but there is really nothing we can do to help you. You can seek private legal advice” I contacted at least 4 attorneys and the also agreed I have a problem but not one would take the case on a contingency basis and wanted $2500 and up for a retainer and $250 per hour with no guarantee I would be able to recoup my attorney fees. I don’t have that kind of money. I had a TBW FHA loan and attempted an FHA Streamlined loan with TBW just to lower my rate. I was told I couln’t have a Fixed rate but they could give me a 5/1 Arm. I didn’t want that but couldn’t afford $1400+ monthly payments any longer and agreed. They then added $6000+ in closing costs, running by UPB back up to more than the original loan. So the payments were $1200+ monthly. I closed this loan June 27, 2009. One week later they were seized, assets frozen and closed. They never paid off the original TBW loan and sold/transferred it to BoA. Now BoA is sending statements saying I’m behine and TBW is still sending me statements on the Refinanced loan. I began the 1st week of August when I became aware of this problem trying to get it fixed and as of today NO ONE will help. So In my 1st letter to all the above listed people I advised I would be withholding any and all payments until it was settled. Now at this point I’m so tired of the no help that they will have to evict my butt to get me out if they want my property.
Now is the time to start preparing for our taxes. My loan was handed over to Bank of America. They have sent the 1098 form, but it does not contain any of the interest payments I made to TB&W or the PMI prior to BOA taking the loan. Great :( I guess we just have to estimate the interest unless anyone knows the mathmatical formula to figure this out. Has anyone heard if TB&W is going to send out 1098 forms? I will probably get audited if I indicate that I did not receive a 1098 from them. Wonder if I can claim a loss on the escrow money.
Disgusted with the whole thing!!
Angela I was able to log onto Taylor Bean’s website using my username and password from when they held my loan. Under the Statements/Documents tab I was able to get my 1098 form for 2009. Hope that helps!
Hey Todd, anything special that you did to login to the site? I was able to login, but received an error on my “homepage”. Any help would be appreciated.
Only 2008, but dated 2009, was available to me, and (of course) no one at TB&W knows anything …just wait for it to come in the mail, they say!
I logged in under the old page before TBW updated their website, I was able to see it, although TBW actually sent me my 1098, I just went on to verify
here is the link:https://tbw.estatusii.loanware.com/index.cfm?url_id=157202
I also received an error message at the “My Account” page.
I notice that there is some pertinent info on the TBW main web page. They claim that the 1098′s will be mailed and that our current mortgage holder may include the info in their 1098. My BoA 1098 does not contain this info.
Well, my boat finally sank. I made two payments to TBW in July and August. The checks cleared but they did not post it to my account. I never received an answer as to where the funds went to. As soon as my account was transferred to Bank of America they were too eager to foreclose on my ‘two missed’ payments. I explained the situation and had proof that TBW took my money but Bank of America wanted their money too. After making an additional 2 months worth of payments, plus late fees(which they had promised not to charge), plus one year’s insurance and taxes(which are in escrow account) I can’t do it. I tried to hold on for as long as possible, but it’s too much out-of-pocket costs. Now they are charging me $25 per day late fee(amounting to $750/month) in addition to my monthly payment for the TBW payments they claimed were late. I’ve tried finding a lawyer to help but no one will touch it because I can’t afford a $10,000 retainer and they don’t want to go up against the FDIC or TBW. I hope it works out better for the rest of you. I prayed for help every day, maybe it will help someone else. As for me, I’ve lost everything I own because of Taylor Bean. Good luck to the rest of you.
Referring to the above case, it is time to play hard ball…grab your chutzpah and go for it. “This is America, you don’t ask you demand” or another quote, “This is America, you bribe or fight until you get it.” Consider filing in small claims. Big companies HATE small claims. Contact BofA and tell them you are suing them in small claims (in most states this is less than 10,000)–even if your case is more…this is the cheapest way to deal with it. It costs 30 or so to file and small claims really is the people’s court. Then fax and send them a copy of the lawsuit. Find a lawyer friend to talk business with them. No big bank wants to travel to all of these small cases.
Another option is to contact your local legal aid and contact your local aclu. You just keep need to fighting and not give in to the first person who answers the phone. Talk to their boss and demand their boss etc. Tape record conversations with the BofA workers. Fax letters in to the boss etc.
I know of a lawyer. Please email me and I’ll give you some links.
Please send me the attorneys name and contact info. I can’t find an attorney around that is willing to take this on a contingency basis and I can’t afford a retainer right now.
I was wondering, has anyone’s Mortgage been taken over by Bank of America? If so, have you had any trouble with them? They stole our ESCROW!
Also giving people forewarning – Bank of America is Obama’s main intrest. He looks out for his investment, not the CONSUMER.
We were with Taylor, Bean & Whitaker and now Bank of America took over ours- I will tell you what I am gathering : The govenment wants control of every thing! Homes, lands etc! That way they have power over the people! They don’t care how much you write them!
same thing happened to me i had all the paperwork in order thank god but i still had to call them everyother day even had insurance company on the phone because bac said they paid for my insurance in august wrong tbw paid it in may one month escrow account is ok next it is messed up again this is such a headache now they can’t find august 2009 payment. i am so sick of thisbac
Motion to approve escrow payback is set for Judge Funk approval at hearing February 19th per Court docket # 927 on the BMC group webiste. BMCgroup.com
I was transferred to Roundpoint and they have been wonderful. Paid all my taxes and insurance and excellent customer service
Hi, Randy
Have you received any phone calls from RoundPoint mortgage company (not RoundPoint mortgage servicing company) for offering you a good deal of refinancing?
I have received this call from RoundPoint and they are offering a better deal on refinancing, is this something that I could trust and send them the paperwork? Did anyone refinance with them?
My mortgage with TBW has been transfered to Round Point and they have offered to refinance my loan, at “more favorable terms and at no cost to me”. Clearly, this is an attempt to recoup as much as possible for TWB in the bankruptcy. What leverage do I have in negotiating the terms of this refinance, i.e., how can I get the best deal for myself out of this mess?
Thanks for any advice you may have.
Erik, I think we are in same situation. I am considering to deal with RoundPoint mortgage company for the offer. Give me some advice if you have started the process. I think if all my concerns are answered, I’ll give it a try. Don’t know how long will it take to close the deal, or if it can be closed, can we still stick with our current mortgage rate and term…
Richard & Erik,
We have gotten the call as well. How is the process going for you? We just agreed, but still a little concerned. The deal seems to good to be true! The RoundPoint rep has assured us over and over that it is legit and that the lender will cover all the closing costs?? Hope this all pans out! Let me know if you have any info regarding this!
I have gotten the “too good to be true” call as well. I don’t know what to make of it all. Why is RoundPoint Mortgage so interested in making certain I don’t miss this opportunity to get a refi for free? Certainly, it can’t all be for my benefit. How will RoundPoint benefit from this? I’m told if I opt not to refi with one of the 3 banks they mentioned, then everything will remain the same, i.e. same loan terms, same interest rate, etc. What cannot be guaranteed is that RoundPoint Mortgage Servicing Corp. will still service the loan.
I received some documents online but I was told I don’t need to do anything before one of the three banks contacting me. I think RoundPoint will definitely make money from this refi process. We need Eric’s input here, I am planing to see what will happen from now on. BTW, I called Wachovia bank (my premier bank dealing with checking and saving, ect) to ask for advice, they said this would be possible and tried to offer me a refi quote. Talked with a local mortgage officer and he said this may not be true but tried to offer me a slightly higher rate for a refi without closing cost with him. I am kind of thinking that the local mortgage officer was not willing to tell the truth since he wanted to do business with me. Eric please update your situation and thanks very much! Ricahrd.
I have received this call from RoundPoint and they are offering a better deal on refinancing too, is this something that I could trust and send them the paperwork? Did anyone refinance with them?
I am so disgusted with this whole TBW and BOA buyout. I am still waiting (yes, it’s Jan 25, 2010!!!) for the August 2009 payment I made to TBW to be released to BOA. Everytime I call BOA, I get a whole new “story”. Six months now I have been calling BOA several times a week. They have harrassed me with phone calls to my home and workplace (which they aren’t supposed to) and sent threatening letters with fees and penalties and credit reporting threats. In the first two months, the only thing they asked was did I receive a welcome packet. Come to find out, the welcome “packet” was a letter letting me know BOA had taken over our loan. That letter was sent out sometime after the 1st of August. Now, I don’t know about you but I pay my bills on time. Sooo, if I receive a letter on August 10 to pay my August 1st mortgage to BOA, how is that possible!!! What else can we do to accelerate this process? I have sent a bank statement and copy of the cleared check to BOA at their request and what did they do with it? Looked at it…that’s it. They were “supposedly” going to back date it to August. But as with everything else I have been told by BOA, it was false. The latest news was that all of these pending payments were to be posted by 1/15/10. Guess what – wrong again…..
That is nearly identical to our situation! Bank of America has been nothing but one fat headache since the transfer. It took 2 months for someone to tell me why my payments were “late.” The rep I spoke with said that “within 90 days from the takeover date” the TBW money would be un-frozen and it would be resolved. That never happened. Then, in November, after several phone calls from a debt collection agency for BOA and calls from me to BOA reps, someone finally told me to fax the cleared check from August to TBW to BOA. They received the front and back check copy and in the same week sent me a letter stating it “wasn’t enough.” Now they wanted all of my bank statements from August to the present month. So I had someone from BOA Home Loans here in town fax them 28 pages of my bank statements. One week later I called to get an update. They stated they never received the fax. Had them faxed again by the local BOAHL, who actually talked to someone who walked over and grab the fax. BOA sent me a letter 2.5 weeks later – which stated I will receive a response within 20 business days of the letter. That will be on or around Feb. 7. Yeah, we’ll see.
Teresa, I’m in the same boat as you and I really do not know what else to do..
I am past the point of frustration. Back at the beginning of December they had told me to get copies of the cashed “August” check and the bank statements showing the withdrawal. I faxed it in and verified with them that they received it. Then I got a letter at the beginning of January that said thank you for your recent inquiry about your August payment to TBW. We will get back with you in 21 business days. Well you know what came in the mail 21 days later, a letter telling me they needed more information (i.e. a copy of the cashed August check and bank statement) regarding my recent inquiry to further assist me LMAO. (I have tried to resort to laughing because if I don’t I might lose it!) I do have to say I was a bit furious and gave the customer service rep that couldn’t speak English a piece of my mind after she answered the phone and asked for the 500th time if I was calling to make a payment. I guess these customer svc reps do not look at previous comments. I was then told that basically that information wasn’t going to do me any good after spending $10 to get a copy from my bank and it would just sit in my file. Oh yeah, I was also told that if I provided that information on the Aug payment they would “escalate” my issue. It has been in an escalated state for about 2 months now. She then told me I needed to make a current balance payment that included these fees and penalties and I asked to speak to her supervisor that couldn’t speak English either. She suggested to me to next time speak with a LIVE customer svc rep to get the most up to date account balance and I told her well that’s what I just did – your LIVE person just gave me the wrong info. She apologized and said she would discuss that with her. Again, another phone call that did not get me anywhere except back to square one. I did receive my 1099 and verified that it did indeed have TBW and BOA interest on it…which when I spoke to the Tax Center at BOA and first she said TBW would be mailing those out and I said well TBW website said BOA was then she put me on hold and then said it would be mailed from BOA and have TBW’s name on it…well they were wrong about that too because it was mailed from BOA and it had BOA name on it..TBW was nowhere mentioned on it. I haven’t called this week…I decided to take the week off and not call them because it just makes my blood pressure go up!
What about our Form 1098′s to file our taxes? has anyone received theirs? I was told BOA would have it, but they have nothing either???
Thanks
Ashley
I received my Form 1098 yesterday (1/25/2010) in the mail from TBW. I will have to wait until the hearing on February 19th to find out more about my escrow payback. The motion (Docket #927) states that the relief payments will only cover the amount of the bounced checks and we will need to file a claim if we want to recover the bank expenses for the bounced checks.
According to TBW’s website, if your loan was transferred to one of the banks listed then the new bank if supposed to send out the 1098 with TBW’s info and the new bank. I logged on to TBW just to see if my tax information was there and it lets me log in but on the account page it just has an error message. If you still have TBW then they will be sending your 1098 to you. The problem I have is because my August payment has not been posted, my 1098 is not going to be complete. And I also read elsewhere that someone got their 1098 from their new lender and it did not include the TBW interest info. I did receive our escrow money back in November thankfully but the August mortgage payment is jsut out there somewhere. I am not sure if that is part of the next hearing or what. I just can’t believe that no one can provide any information as to when this will be complete.
My loan is still serviced by TBW, and I asked TBW about the 1098 form. They said TBW is sending out form 1098 this week. The lady that I talked to also sent me a copy of the form by email. I don’t know about the loans that were transferred. (I guess your new service should have send the form 1098 for the whole year)
how is your loan still through TBW? I thought they transferred all loans?
There are still about 746 loans serviced by TBW. Those are the refinanced loans but not yet sold. They called them Net-Funded Loans. My refinance with TBW was a nightmare. My old loan has not been paid off, and was transferred to Cenlar as an active loan. My new loan is still with TBW. If you read the docket #927 in BMC Group website, my case was the issue #4 that was mentioned there. I have complained to the State Financial Regulation, but got an answer to wait for ‘court order’.
Ah man, that is horrible, sorry to hear about that. Good luck with everything. Did they expect you to still pay both your old and new loans at the same time? That would be absolutely ridiculous.
At first, Cenlar sent me a letter stated that my loan (the old one) was transferred to them. I called them many times, and faxed them my refinance paperwork twice, even sent them the email that TBW informed that TBW has notified Cenlar about the issue. I didn’t hear anything from Cenlar, absolutely nothing. They didn’t reply my letter, didn’t call me back as the customer representative promised me, and didn’t send me any statement either. So I don’t know if that is ok or not. I kept calling them and ask about when my loan would be paid off ( TBW told me that Cenlar would do it when the fund is unfrozen), but no reply from Cenlar so far. I sent a complaint to my State, and they told me to pay only for the new loan, and wait for court order.
When I read the docket #927, I was so upset about how TBW proposes to resolve this issue. They proposed to transfer my new loan to Cenlar, and Cenlar can either cancel my original loan or the new refinance loan. After all the fees I paid for refinancing, all the time to call Cenlar and TBW, the headache to find out what is going on with my refinance, they said they could cancel my new refinance loan? It is ridiculous! I don’t know if there is anyone that represents us at the court to protect us, people that do nothing wrong, just pay mortage and tax on time.
TH,
My wife and I are in the exact same boat as you — right down to everything from the net-funded loan and the loan being with Cenlar.
We need to chat. I’m on twitter at http://www.twitter.com/aabrami5
BTW, I read the docket, and I had a different take on Issue No. 4. My understanding was we, the borrower, could decide on which loan to continue. Obviously, we would chose the refi loan. Perhaps, it’s just worded like that for all options to be on the table.
It’s been a few months that I tried to find someone that is in the same situation as mine. What do you need to do? I sent to Cenlar all the documents needed to prove that the loan was supposed to be paid in full, so that they don’t give my loan to collectors. But they are completely quiet, didn’t answer, didn’t say anything about my loan.
For the docket # 927, I thought it said that the Elected Investor can either cancel the original loan or the refinanced loan. I certainly hope that I was wrong.
TH,
Straight from the docket:
Upon receipt of the subsequent mortgage from TBW, the Electing Investor will deal directly with the affected borrower to cancel either the original or the refinanced mortgage so that the borrower will be liable for payments pursuant to the terms of only one mortgage loan. This relief will potentially resolve the issue for these 751 affected borrowers.
52. With respect to each of the 37 refinanced mortgages sold to investors, the original loan as to which was owned or guaranteed by an Electing Investor, the Electing Investor will cancel either the original mortgage or the refinanced mortgage, so that the borrower will be liable for payments pursuant to the terms of only one mortgage loan. This relief will potentially resolve the issue for these 37 affected borrowers.
I don’t think we fall in the 37 who’s loans were sold to investers. I think we are in the other 700 or. That said, the wording on both has a slight difference, but I think in both cases the Electing Investor will ask us what we want to do. Clearly, it would be to keep our re-fi loan.
I sent you a twitter message. I can go into more detail, especially about my dealings with Cenlar. They have been very helpful — to me anyways. They have assured (and you can take that for what it is) that we have no obligation to the old loan, they are focused on working with TBW to get the loan paid off. TBW has also sent us a letter on this matter as well.
In the interim, we’ve been paying TBW (since we refi’d in the summer) our monthly payment. Just recently, TBW approved us in a letter that we don’t have to pay our escrow until this matter is resolved.
That will help a great deal, b/c our property taxes are due in March and we aren’t putting money into a frozen account anymore.
We have all of our TBW monthly statements and copies of cleared checks since this mess started. We’ve been in touch with our state regulators and they are fully aware of our situation.
I don’t see a scenario where our escrow is not returned to us. That money is highly regulated. TBW can’t say we need that money to pay our creditors or something.
Nor can a new investor just cancel a refi’d loan. We had sufficient funds to close, we went through the proper channels, we have all the paperwork saying we refi’d. It’s TBW’s responsibility to pay off the loan.
I feel we are turning a corner with this latest docket/hearing proposal.
I got my 1098 from Roundpoint yesterday and it only had the amounts paid to them and by them since I was transferred to them in August. Luckily I wrote down everything off TBW’s website as I get an error everytime I try to log on. Borrower issue go to court Feb 19th so keep calling Judge Funk’s office and the attorneys
Will I get a 1098 from Taylor Bean, if I refinanced my loan earlier in the year?
I’m writing a complaint on my local news channel website to see if they will expose this problem. I too am a victim of the TBW/BOA fiasco. In the past six months my mortgage payment has increased nearly 230 dollars a month, and my escrow balance has at one point topped off at almost a negative 2000 dollars. To make matters even worse, I even have to call and remind BOA on a monthly basis to continue to send me a statement in the mail so that I may CONTINUE to pay my mortgage. If I dont call, a statement is normally not received until after the due date..?! Each and everytime I speak with a BOA customer service rep its a different story. “Yes sir, we understand the TBW issue, we are still waiting.” Or it’s, “Sorry sir, we are showing that you have a late charge for your August payment that we still havent recieved.” It seems as if sometimes they understand, but other times (most of the time) they play dumb. I still havent heard anything from BOA about my August payment to TBW being unfrozen, and from what I have read in prior posts…it might be awhile. I went to the TBW website today to see if I could print off my 1098, and my account too has been discontinued. I think we all need to try to get as much exposure on this issue as possible. The more its out there, and the more followers we have, the sooner the problem will get resolved. I am a 25 year old single male that purchased my very first home all on my own. I refuse to just roll over and let them take it away from me. I wish everyone the best of luck. I hope to hear or give some positive updates in the near future.
Like many of you, I am in the same boat with the TBW/BofA craziness. In August, I sent my payment in and it cleared the bank August 11th; which was NEVER suppose to happen because TBW was shut down on AUGUST 10th. Colonial bank cashed the check, on 8/11 and Colonial bank shut down on 8/14. Colonial is now being taken over by BBT and I called BBT to see if there was anything they could do and how they cashed a check for a business that was shut down by the fed and this lead to no answers.
I orginally found out the TBW was shut down by some sales person who called me. After receiving this call on August 24th, I immediately called BofA and they reassured me “everythings ok and in order and you will receive your welcome packet soon.” Each month when I call this issue will magically be resolved in 6 weeks. Well, I have heard 6 weeks this issue will be resolved since August 24th.
Well, Jan 26 was my last phone call to Bof A and everything is NOT fine and in order. Each month, I do not get my statements in until 2 days prior to the due date which is a major inconvience. They have NOT found my AUGUST payment even though that it was drawn on a BANK OF AMERICA account. And the “late fees” that they are suppose to wave I have been charged. Luckily the collection calls have stopped, but it has been a MESS. I am like many of you and pay my bills on time and everytime I call these people I feel like I am the scum of the earth the way they treat you. They told me last week when I called, you can just pay up your mortgage so things will be right and you will not be charged anymore late fees. I politely told her that why should I have to pay another mortgage payment because my August payment is MIA. Then I asked, how frequently should I call back to check the status of my loan to see when the funds were going to be released, they said “do not worry, we are going to look at everyones TBW account and apply the funds.” I cannot beleive that. They have not even waved the late fees as promised in the “welcome letter” that made me feel really unwelcomed.
I really hope for all of our sakes this situation will be resolved soon.
Did anyone hear how the Jan 22 court hearing went?
Jennifer – this is my story exactly ….to find the missing payment, check your actual bank statement – that’s where I had to find mine! However, when I presented ALL of my info to BofA, they stated it was not good enough! (I posted about this below!)
I refuse to pay more to make up for payments that are floating around somewhere when I have proof everything on my account has been paid – and paid for early!
All I can say is this is the biggest mess I have ever had to deal with!
Stephanie-
I actually go in each month to a Bank of america brick and mortar store and make my payment, that away I get a receipt and a name of a person who processed my check! I know it sounds crazy, but i am like you and do not want my payment “floating” out there.
I got my BOA 1098 form and it ‘seems’ to be all the interest from BOA timeframe and when Taylor Bean had it.
I suggest requesting a Loan Activity Report:
Taylor, Bean
1417 N. Magnolia Avenue
Ocala, FL 34475-9078
(888) 225-2164
If you call expect to be on the phone for 20 minutes!
You can obtain Loan Activity Report online using your old username and password for the TB&W account, but it is very confusing and so very vague.
On top of that, 2009 1098 Forms are unavailable to ALL transferred accounts – you must wait to see if you get one in the mail, according to TB&W CS Dept – even if – 2008 1098 forms are still digitally available! Hmmmm….
AMEN to this article. I have been fighting with both TB&W and BofA about my account as TB&W hasn’t paid my taxes and took two months of mortgage payments and have NOT forwarded them to BofA. Then (mysteriously) these payments, although deducted form my bank account, disappeared. Luckily for me, I have actual copies of my bank statement proving who cashed what and when ….but as a result of TB&W hording my money (and everyone else’s apparently), BofA is trying to tell me that as a result, tey will jack up my payments to cover the difference until TB&W gives them my money???? Are you kidding me!
I have sent copies of EVERYTHING to BofA …they are refusing to update my account because my bank statements verifying payments (paid to and who cashed them) is not good enough!
What the heck is going on?????? I am completely frustrated!
Steph,
They are doing it to all of us. check out this last blow i got .I thought if I did my payments on line i wouldnt have to call every mo. and deal with the greedy idiots with BoA Big MISTAKE. Their stuff for me was hard to navigate and i pray it wasnt something i did but they DOUBLE WITHDREW my payment putting me over a thousand $$$ over drawn in my bank account so now i have to call and deal with them anyway. mistake or not the second draft wasnt authorized.I hope our nightmare will soon end as well as everybody elses.We are trying to get someone else to take over our loan.None of us Asked for BofA.
We’ve been trying to work with BOA for a Financial Hardship because of this whole situation and have been getting no where since October! We resent the documents they requested AGAIN and still nothing as of yet. I’m getting weary of this and just want to be able to live in my house in peace.
Here’s my story: My wife and I refinanced our mortgage and paid off Taylor, Bean and Whitaker on the 1st of August, or so I thought. I started paying my new mortgage to MetLife Home Loans starting in September. A couple of weeks later I got a letter from Bank of America stating that they are now servicing my loan. I contacted BofA and explained to them that this is a misunderstanding, but they came back and stated that the payoff of the first loan to TBW was never received, therefore I’m on the hook. I then got my settlement attorney to send proof to BofA that the loan was in fact paid off. BofA Customer Service then told me that they understand the situation with Taylor, Bean and Whitaker and that everything would be resolved by the end of the year. So guess what I received from BofA attorneys a couple of weeks ago? A “Notice of Intent to Foreclose.” I immediately contacted the settlement attorney who got in touch with the forclolsure attorney and he agreed to put a stay on the forclosure action. I also filed a request with the Bankruptcy Court in Jacksonville to have the payoff funds released. This prompted the court to schedule a hearing on the 19th of February requesing my presence. Again, I called my settlement attorney to let him know that I have no intention of spending time and money on something that was no fault of my own. He agreed and contacted the Title Insurance company working on behalf of MetLife Home Loans, and now their attorney has agreed to work on it until it is resolved. I’m still feeling quite uneasy about this, and I can’t understand how this kind of thing can go this far. I also think that when Bank of America took on these loans from Taylor, Bean and Whitaker, they should have known to treat them differently from the other loans they service. Bank of Ameica is one extremely dysfunctional operation from what I’ve experienced and I personally feel like they should take some blame for their lousy customer service, but if I can just get this to go away, I’ll be happy.
how did it turn out for you, Kevin?
AMA,
As of right now, we are counting on the Title Insurance Company lawyers to sort it out. I’m currently paying my mortgage to MetLife Home Loans so the lawyers are really working on their behalf. Technically Bank of America has first position on the property lean, although it hasn’t yet been recorded, so the title insurance lawyers are filing a suit within the Maryland State Courts requiring Bank of America to give up their claim that they have first place (because they really don’t). The Title Insurance lawyer thinks that this will work rather than trying to file a motion with the Taylor Bean and Whitaker Bankruptcy court. I haven’t paid a dime to BoA or any lawyers to get this resolved, because I’m really just an innocent bystander who got caught up in this mess along with everyone else.
like all of you my monthly pmnt has increased by250.00 my escrow is now over 2000.00 they say we`re still not current. of course i`m not paying for something i already paid and faxed and showed the proof via bank statements.i`m fed up with haveing to call B o A every single time i turn around. they make you feel like your the wrong doer . I blew up last time on the phone i asked where my statement was for Jan. they said because my pmnt was short 60.00 i would`nt be getting one .seems like my bal. is different each time.i told them your prob is you dont care about people, all you care about is money. i pray for all of us we need 1 attourney all of us and one big lawsuit that we would win. it`s time we all felt like we won somethin for a change.ya`ll are more up on the happenings than i am keep me posted on any news.
Got a call from the debt collector BOA uses again today – ready for another beat-down, but they told me they “found” my August Payment! The operator (who sounded East Indian, but whose name is “Ashley?”) said all of my late fees would be reversed and the credit reporting (which I was told had been put on hold since I was a former TBW customer – why am I not surprised they actually DID report my “late” payments to my credit companies??) would be reversed. Now, granted, the reversals haven’t happened yet, but to actually hear GOOD NEWS from BOA just floored me! Now the waiting (she said give the BOA website a few days before the changes show up) begins and I think I’ll be checking my credit every month just to be sure…wish us all luck!!
Geezzz, we finally “hopefully” got our loan with BOA cleared up. I too sent copies of all the checks that cleared our bank to them and also the one in August 2009 that was deposited to Colonial Bank when we were with TBW. Guess what? They said our payment for August was received and was posted to another account number that was similar to ours. I had a letter from BOA stating that they had received our payment from our previous lender TBW for August 2009 and applied it to September 2009. I had already sent the September payment to them, so they had two payments for September. When I called to make sure they had our account correct, one of the thousands of customer service reps told me the letter was a mistake. She said someone got the copy of our check that I sent proving we made our August payment and thought it was an actual payment, so the letter was not correct. I immediately told her I was holding them to this letter dated in October and that they had our money. So, they did find our money from TBW and HAD POSTED IT TO SOMEONE ELSE’S ACCOUNT. GO FIGGER….!!
Good luck to everyone out there who is dealing with this so called “BANK”. I still don’t believe ours is straightened out. Oh, and for us being first time home buyers…what a friggin NIGHTMARE.
Hi all, Listen I don’t know what to tell you all. But I will state this-
There is NO LEGAL DOCUMENTATION between you & BOA! There is NO signed document!
The only reason BOA received your note was due to Obama trying to back up his investments with BOA. To make his investments secure!
First Bank of America got a bail out, then to further secure Obama’s investments -> Bank of America was given more business with consumers/customers home accounts to BOA without consideration of the consumer/customer.
Unless you have signed a contract with “Bank of America” then you have no business dealings with them what so ever- period.
We have requested documents of the origional loan ( inwhich we are still waiting for). Other than that, we will NOT PAY bank of america something we don’t owe them due to NO CONTRACT WITH THEM.
BY THE WAY you can reach me at debdgg@aol.com
I can see the original loan documents on the BOA website. I understand that there are no documents that we signed saying BOA is our mortgage holder but there are takeovers that happen frequently. Our homebuilder sold our mortgage 1-2 months after we closed on our house. We received “advanced” notification that countrywide would be our new mortgage holder. The original loan documents stayed the same until our refi with TBW.
Please ignore Deb’s rants about Obama she doesn’t know what she is talking about.
Here’s a better explaination.
Nov. 25 (Bloomberg) — Bank of America Corp., the largest U.S. bank by assets, was sued by BNP Paribas Mortgage Corp. and Deutsche Bank AG over hundreds of millions of dollars in losses they sustained by investing in asset-backed commercial paper.
BNP Paribas and Deutsche Bank today filed separate lawsuits in Manhattan federal court. They say they bought a total of $1.6 billion in asset-backed notes issued by a special-purpose entity known as Ocala Funding LLC, which provided funding for mortgage loans originated by Taylor, Bean & Whitaker Mortgage Corp. To reduce risk, they say they insisted that Ocala hold $1.6 billion in cash or mortgage loans as collateral to be deposited with Bank of America, the deal’s trustee.
Deutsche Bank “trusted that BofA, one of the nation’s largest and most well-known financial institutions, would perform the gatekeeper function reasonably and responsibly,” the Frankfurt-based bank says in its complaint. “In myriad ways, BofA failed to carry out its various duties designed to protect DB’s investment.”
Oh no! BOA screwed something up!
I’m completely failing to feel even the minutest amount of surprise.
BTW, all. BOA responds well to strong tactics. My wife has gotten everything we’ve needed from them by using a raised voice and refusing to take no for an answer.
Sharon, I’ve all you’ve written and feel you’re right on the money.
Deb,
Hate the tell you this but no document is required. Mortgage companies and banks sell loans all the time, its called servicing the loan and you acknowledged they do this when you signed your closing documents. Its completely common and nothing you can control. This is one of the reasons people turn to their local bank or credit union as they usually will not sell a loan
Deborah,
Loans get transferred and sold all the time. If you don’t believe that you owe money to BOA, then don’t pay them. Have fun living under a bridge!
I too have had the full run around with this company. Fortunately we refinanced before the bankruptcy in August, but our escrow check which arrived, bounced on August 12. We are left 1300 behind. With all the conflicting information I am ending up considering this a loss.
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Now what was the question?
Please stop re-posting this. It serves no useful purpose to these people who are in trouble and adds length & confusion to people seeking help.
It seems that I am 1 of the 700+ “net funded” refi’s still with TBW. Recently I have not heard much from BOA who is servicing my old loan. I sent them mass documentation showing them I had a legit refi with TBW close in late July 2009.
Now in reading the BMC group website docket #927, it seems that eventually BOA will recieve my new refi and will work with me to determine which of the 2 loans I want to keep. I will obviously choose the refi, as I am sure all other 700+ people will do the same. Now assuming this is the case, I will eventually owe BOA all money owed from the start of the refi until whenever this is resolved. Hypothetically I will assume this is resolved in April. The way I understand this resolution is that I will have to come up with all monthly payments from September to April (8 payments).
Now while it would be nice to have this 2 mortgage situation resolved, I was wondering what options I would have once “the dust has settled.”
Will we who have been affected have any options to refi or modify our loans to bring them current? Asking people to come up with 8 payments seems a bit harsh. What if over the last 8 months we encountered a financial hardship? Who or where were we supposed to go considering the situation? What if we wanted to sell our homes? We couldn’t because of the unsatisfied loan.
It seems that this issue could be coming to an end. This is good. However I want to understand my options going forward.
I feel for the thousands of people who had an August payment locked up. However your problems are nothing compared to the 700+ who have been held hostage for the last 7 months by this situation.
When this is settled, I expect BOA to send me a bill for $15,000 (my last 8 payments). This assuming that this “net funded” problem is settled by April. I can live with this as it is what I really owe in terms of the refi contract. However considering the dynamics of the situation, I was wondering if I can persue a modification that would bring my account current without having to come up with such a large sum of cash “on the spot.” If anyone may be familiar with my, our options regarding this matter, please post something or email me at badbeat78@aol.com. I can be reached via phone at 414-305-5690 if someone is in the same boat as I and may know something.
Stay strong my brothers and sisters who have been affected by this fiasco. The big business has been screwing us for long enough and once this is resolved they will undoubtedly attempt to do so again. We need to collect something for this!! We are owed dearly for the what we have been put through.
I’m in the same boat, except my old loan is with cenlar. My new loan from the refi is with TBW.
We’ve been paying TBW monthly since the beginning of the new loan.
Once this is settled, Cenlar will receive the funds from TBW to satisfy the old loan.
So I’m not sure why you would have to come up with the sum of payments dating back to the summer. Are you not paying TBW the monthly payments on the new loan?
As I see it, I’m current on my monthly payments. The old loan, which was never paid off and was transferred to Cenlar, is not my problem anymore (which Cenlar understands). From Cenlar’s perspective, I did everything to fund the closing for the refi (and there’s proper and legal paperwork/HUD to back that up).
I was told by TBW people not to pay them as my refi loan would eventually be transfered. In addition to this I did not want to give another penny to a company like TBW, especially while all this is going on. I can’t believe that people are still sending money to TBW. Not a good move!! I hope to all that have been still paying this company you see your money when this situation is resolved. I have been saving my payments and am prepared to pay when my loan surfaces with a real company.
Who told you at TBW not to pay them? I thought about that step, but was advised to continuing making payments (we have stopped paying the escrow, however, for the last few months; seeing how that was going into a frozen account). TBW sent us a approved letter in letting us stop the escrow.
In the end, we’ll still responsible for our mortgage payment. We are provided statements with the monthly payments being applied to the loan balance and such. Plus we have copies of all the cleared checks from our bank.
While this is a strange situation, and TBW is waving all late fees and credit reporting, staying in good faith with your payments, is likely the safest route.
A TBW rep via phone told me that my refi loan would eventually be transfered to another carrier. Thus I had the option of paying TBW or keeping the payments safe in my own bank. I choose the later. Legally when a loan is transfered, the new carrier has to allow 2 months (60 days) in which no late fees or negative credit reporting can be assesed to the borrower. At this time I will pay. TBW will never see a dime from me again unless they restructure and prove to be legit. Paying TBW now is foolish. Your loan will be transfered eventually and you will have to rely on them to transfer all your funds for the last several months. I pray for you.
Anyway my concern is not who should be getting paid now while my mortgage is floating around in lala land. It will settle somewhere eventually and I will pay then. What I want to know is what avenues we who have been affected by this mess have to collect anything for damages. People sue everyday (and win) for much lesser things than what we are going through.
If I wanted to sell my home sometime since August, I cannot. This could have cost me serious money. What if I experienced a financial hardship and wanted to apply for a mod. I cannot. Again this potentially costs me money. What about the harrassment and stress endured throughout this process?
People we are owed something for this bull sheet that we are still enduring! I want to know what we can get and how to pursue it.
I hope everything works out for you. Not being current on your loan and being in default is a dangerous way to go. My state regulators advised me to stay current. It’s still our responsibility to honor the mortgage, despite the situation.
I pray for you as well. Hopefully you don’t lose your home over this.
As for the potential of lawsuits, I can’t answer any of those questions. I thought the same thing: What if I had to move? Honestly, at this point, I would be happy to get this straightened out and the escrow returned. You should probably just contact a lawyer on that one.
I am also in the same situation as you and AMA are. We refinanced in late July, and my old loan was not satisfied and was transfered to Cenlar. My new refinanced loan is still with TBW. I contacted my state regulator and was advised to pay TBW and stay current with the new loan. I also had to pay property tax out of my pocket even though I had more than enough in my escrow account.
I really don’t know in our situation what we should do if we need to sell or refinance the mortgage. I had asked my state regulator and all I got is “wait for banfruptcy court order”.
Taylor Bean has completely screwed my family. My husband and I have two children and are facing foreclosure because of mistakes made by Taylor Bean and our “new” mortgage company Bank of America. Last year we were contacted by an Agent for Taylor Bean about doing a fresh start program that would lower our interest rate, mortgage, and pay two months ahead. We made several deposits on this new loan, and even went to close on August 3rd when a notary came to our house and we signed the closing documents. We even received those documents back on a CD saying everything was finailzed. Well, Taylor Bean was on the news and shut down a few days later. Our loan was supposedly funded on the 7th. We received no notificiation or change of mortgage company. Bank of America started contacting us, but only had limited information. Are 1st payment wasn’t supposed to be till October and so they told us (BANK of America) that we should follow our closing docs and that everything should be transfered over by then. To make a long story short when oct came they had no knowledge of our new loan and the money we had made as deposits were not placed on our accounts. So, they had us send in our documents claiming they would honor the loan and we sent October’s payment. they were supposedly going “to research and call us”. November, December we tried to call in make a payment and they wouldn’t exccept it. Now we are in foreclosure and there is nothing we can do. We are the little guy that has gotten lost in the crowd. I wish there was help out there but there just isn’t for a young family like ours. The banks win and get another house to sit empty while they rake in the big bucks and my family lose our home.
My situation sounds very similiar to others. I made an August 2009 mortgage payment to TB&W and the funds were immediately withdrawn from my account by Colonial Bank. Unbeknownst to anyone that TB&W and Colonial Bank were fiscally unstable, I began the process in early August 2009 to refinance my TB&W loan with a local credit union. It was not until after the loan officer at the local credit union questioned me about discrepancies in my payoff amount did I learn about the TB&W fiasco and the fact that my August 2009 payment had not been posted. I ended up refinancing a payoff amount which included my August 2009 payment. I have been luckier than most by deciding to refinance, however, I have an almost $1,300.00 mortgage payment floating around in cyberspace. Repeated calls to BOA were met with empty promises. Six months later, I’m still out of $1,300.00 and no closer to receiving my money or any creditable information. If it were the other way around, the bank would’ve already exercised every option at its disposal to collect their money from me regardless of my situation. This whole situation serves to cement my growing frustration about the slash and burn practices of most banks and indicates just how insignificant and powerless the average citizen is when it comes to being treated fairly. Good luck to you all!
I wanted to post this on all of the being frugal TBW blogs so that everyone sees it. Hopefully it will do some good.
Author: lucy
Comment:hi guys, someone posted this on another site: “I am trying to get us more media attention. Please visit the following I report link. Hopefully if we get enough web hits someone at CNN will take up this story and our cause.” http://ireport.cnn.com/docs/DOC-408074 maybe if enough people comment this will finally get some media attention?
Sounds like an all-too-common story. I hope CNN picks it up.
Too bad the story is so long, though. This will decrease the chances of CNN going further. Can the original poster edit it down a bit?
agreed, I couldnt even read the whole article and obviously this story interest me personally, its way too long
As of this morning its only been viewed about 230 times, we need more hits so CNN picks it up!
I would love to be able to pay someone and remain current on my loan. Fact is that TBW is a dead company. Our loans will eventually be transfered to another carrier. By law we then have 60 days to pay what is owed. I have been putting aside my monthly payments since September and am prepared to pay someone. Paying TBW now scares me though. I feel much better about my money being in my bank account that with them. When I spoke with a TBW rep via phone, I was told that while paying them was an option, I could also choose to save my money and pay when the loan is transfered. When this happens I will persue a modification. I hope that a mod will bring my loan current. I will also then still have the many thousands of dollars I have been saving rather than paying a dead company. If I cannot modify my loan, I will simply pay whoever and get current.
We have been dealing with BAC since Sept and I can honestly say this whole situation has been the most frustrating of my life. We always paid our mortgage payments ahead with extra on the principle – but due to all the craziness with TBW – BAC says we are behind 2 payments and threatening to foreclose. How can that be when we have ALWAYS paid ahead – even to them now that have taken over. I don’t know many people who can afford to pay the same payments more than once.
I will take your advice and write my congressman – but I think this whole situation is soooo messed up.
I have been wondering how many TBW customers who ended up with BOA were out there. I knew I wasn’t alone. Like the rest of you my August payment was made to TBW on the 1st of the month. Like the rest of you BOA says they don’t have it. I’ve been to scared to check my credit report as I tried to re-fi and haven’t been able to. I work at a law firm and I’m thinking about approaching on of the litigation partners about doing a class action lawsuit on contingency or referring me to a attorney who will. I will approach him. I think a list of people who are in the same boat as I am would be helpful. I’m not making any promises but I’m tired of being the little guy stomped on by the big guys. I will update all of you on this site if I’m successful.
The motion was approved from what the case manager in the courts told me on the phone a few minutes ago.
No other details, like any caveats to the approval (and it still needs to go through a written order). Still a long ways away.
I am doing a school paper on TBW. After all of the research I have done I am shocked and dumbfounded on the entire treatment of TBW customers. I don’t understand why TBW customers are not hiring attorney’s. This is a matter that needs to be handled by an experienced attorney. I am confident that if one TBW customer obtains an attorney you will all benefit. Look into class action and of course look into the amount you can recoup in damages. Good luck to you all.
I wish we could get a class action lawsuit going but thanks to all the bs from bof a i know i dont have the money. and what kind of lawyer do i look for in a case like this anyway?
Look for a real estate attorney. In yahoo type in class action law attorney real estate. I would write a very brief description of yours and others situation not only with B of A but with TBW and any other companies involved that have wronged you. You might think this pointless and a waste of time, but it only takes one person to start the lawsuit….. one brave person. I wish you all luck. I can’t even imagine the hell you all must be going through.
Also. sometimes a class action attorney will work on contingency.
People would be better off engaging HUD and FHA in this. They are charged to protect the borrower from any malfeasance on the part of the lender.
I see a variety of stories re: TBW. Most homeowners have had their loans quickly re-assigned to another lender. A very small handful still have their mortgage with TBW (we think.)
But one thing is absolutely certain: whatever your monthly payment is, you will be responsible for it to someone at some point. Even if no one is sending you a bill, DO NOT assume you’ve “slipped through the cracks.” Set the money aside…someone will be asking for it at some point.
I don’t buy into some of the foreclosure stories surrounding this situation. If you’ve signed a promissory note to pay back a mortgage and then, one day, no one asks for the money and no one seems to be home at the lender…
…keep trying to pay! You borrowed the money, you need to repay it. To someone. Sometime.
I’ve been through the transition to BOA. They’re jerks and they screwed up in many ways. But they didn’t ask for this and, as far as banks go, they’re no worse than others.
One of the posters here had right, even if no one is asking for your monthly payment, write a check out and balance your book as if it had cleared. Someone will be asking for payment later.
Mortgages have nothing in common with slot machines or the lottery, try to play either of them on credit and you’ll see what I mean.
Eric,
Great advice. I do believe they need to be represented by an Attorney in the bankruptcy hearing. I think if you dig a little bit further on this story you will be surprised at the level of fraud and corruption by TBW. In fact if criminal charges are not filed against Lee Farkas, Paul Allen, and Ray Bowman I will be shocked. I am not sure you understand the full story. I would ask you to research this matter further. This is not just a story of customers not knowing where to send mortgage payments. This is a story of muti-dimensional fraud and conspiracy. Dig deeper and look further……….
Eric, you are absolutly right. yes it is a BIG HASSLE but at some point this will settle down. I am trying my best to make my paments but with the new increases it`s very difficult, thinking about a modification but it has to be with B of A I just want to do whats right and best for my family and not loose our home. i`m real worried about the escrow thing,to be current and then 2 thou in the hole just kills me. all any of us can do is just keep on hanging in there. you sound very level headed and smart to me. thanks for the encouragement.
Areas of interest for an Attorney in this matter might be:
Predatory lending practices
Insurances premiums added after the loan was originated without their consent or knowledge —- causing hardship
Paying the property taxes late and charging the late fees to the homeowners’ account
Until the Federal Government concludes it’s investigation it is really hard to understand what fraudulent activity was occurring (if any) in regards to Freddy Mac. Time will tell….
Can someone who received the call from Roundpoint about refi please provide an update? Is this legit?
TRW- We closed a week ago. It is legit! In our situation we had a 5/1 arm mortgage which Roundpoint themselves do not deal with so we refiananced with them and Wells Fargo is assuming the loan as of Monday. Our intrest rate dropped like promised and NO MONEY UP FRONT for closing. It shows on the closing documents as a lender credit. I called in and got a payoff amount days before just to verify they were not adding anything extra in.
Hope this helps! We dealt with Jason at Roundpoint he was great to deal with.
Thank you Stacey! Jason has been calling us also. I’ve been skeptical. I have tried researching it; but had not been able to find anything.
Stacey,
Thanks for the input. Did you do the appraisal of your house? How long did it take to close? For my case, I got first call from RoundPoint about 6 weeks ago and got some documents soon after that and I ran into this blog and decided to see what would happen, today I got a call from them again and received documents again and seem it will go to the process seriously this time. Many posts about this refi but only you have finished the process, could you give us more info? Thanks a lot!
Richard,
Yes we did the appraisal and it was all 100% paid by the lender. We closed about a week and a half after we recieved the appraisal back. Even after we closed I for some reason was still worried and called Round Point a week later to make sure the old mortgage was paid off and it was :) Everything is a pretty easy process. I did hear of a lady where her house didnt appraise for the amount needed it was close to 5,000 short and the lender actually put up that money as well! Now that seems to good to be true! Our house did appraise for the amount needed so we didnt get that lucky. At closing the payment was $20 higher than what the rep had told us, but that has to do with an error in our escrow account (not taking enough out for home owners ins) Good Luck with your process and I hope yours is as easy as ours was!
Stacey, Thanks a lot! Will update my refi process to benefit others when everything go through. Richard.
All,
They called and my closing date is tomorrow, I’m just concern because I never had a Closing that someone comes to my house instead of going to a lawyer office. Is this common? Do you guys had the same situation? please let me know as I’m very concern about this closing that it’s so good to be truth. txs
We also got a call from Roundpoint in January and the disclosures they sent us seemed legit and we started the process. We had a 5/1 ARM (original loan moved to RPMS from TBW) and they came back last week with a offer of .75% off our rate for 5/1 ARM. We are in the process of refinancing with them. We were skeptical too but this seems legit. We tried to google about this but could not find any information and just stumbled upon this blog last week.
Hope it helps.
Thanks SM!
I’ll send my paperwork today, I’ll let u guys know how it goes…
Well folks it`s been a month now and still waiting for them to put back the xtra pmnt they took out now their excuse is the routing number is`nt right HA, it was right when they took the money out. On our way to being refi with another bank. i just dont have any umph left. i`m trying to hang in there. I`m sick of being told i understand well they dont have a clue.
I am in the same boat as the rest of you. I never received my escrow check either. Thank God I had my mortgage refinaced before being considered late on my mortgage. I would like some answers also on getting my money back. One income is not easy these days and we all need our money with this economy. I don’t see how they can keep money that is not their’s. When I call the number for Taylor Bean and Whitaker I get no answer anymore.
I am wondering if any of you had a VA loan with TB&W. I thought I had escaped all of the nightmares I heard about when they closed their doors, but here I am 6 months later. I just got a notice of cancellation from my homeowners insurance. Apparently, my premium was due in August, they wired the file for payments, debited my escrow account and then never wired the money. I know realize I am owed 1200……my point being if you are under a VA loan is there any additional protection or services you can get to get help recouping your money. I know that won’t help us all, but it was just a thought.
Has anyone who received an escrow check from TBW that bounced gotten their money back, I’ve been in touch with BOA for like seven months and they keep saying they are working on it, but I’m just wondering if anyone has gotten results? Thanks.
No money received here. And to add to the injury, we had a fire and TBW cashed the insurance check and never paid the contractor. The contractor wants the money from us even though they know TBW cashed the check. We had them file a claim but they still was the money from us. Then, we received a 1099INT for interest we supposedly earned on the insurance payment TBW has in the bank. I would love to hear something other than that the judge approved the lawyers getting paid and all the other admin stuff for TBW. How about approving us getting paid?
lots of luck getting any kind of money back from bank america i just had another big fight with them over the double payment they took out for feb. its always a different story , or person or bs reason for them not to put it back even when you have done everything they ask you they always want more.oh yeh and they will 72 hr you to death.and its always someone elses fault i told them i would press charges if they diddnt put the money back into my other account. nothing has been released from TBW no Escrow no nothing. we will be getting refinanced and then B o A can kiss it if you know what i mean.
LIKE EVERYBODY OUT THERE IS PISSED OFF !! WHO CAN HELP US GET THE MONEY BACK ? ITS BEEN SINCE AUG 09 NO NUMBERS TO CALL !!!! THANKS TO THE GOVERNMENT , THIS IS B, S,
Received a call from Kathy Perkins, TBW’s Case Manager at the Bankruptcy Court and she says we have until June 15th to file a claim against TBW. She said to go to bmcgroup.com website “look up a case,” click on that and scroll down to “TBW.” She said there are two places to find the claim form – up on the top right orange box (claim form) or in middle for the under the Minnesota address (in little print) it’ll say “click here” for claim. There is no fee to file your claim and you can look up in the boxes to track your claim.
You got a call from someone? We’ve not gotten calls from TBW or anyone representing them at all.
Its been nothing–excpet for a statment. nice..tbw really pisses me off
We have already filed a suit in Federal Court. Can add plaintiffs
I would like information sent to my email in regards to this suit that has been filed as well.
Im sick of sending in a payment to someone who I don’t know what the heck is going on with them.
They screwed too many people around, and they need to fix
the problems they created!
Please send me info, I would like to be apart of your lawsuit.
Taylor Bean & Whitaker owes us $1841.17 in escrow money. We need it to pay our escrow with James B Nutter. We are negative. Its ashamed that they used our money, and now won’t pay it back. We need our money now…….
Denise,
It’s OK for someone coming to your home to close the deal for you. I did last time. I guess you are not in the same area with RoundPoint, that would be the only way to close. You did appraisal with someone local but was appointed by RoundPoint, right? Tell us about your close after you done the process.
Richard
Denise March 24, 2010 at 2:35 pm
All,
They called and my closing date is tomorrow, I’m just concern because I never had a Closing that someone comes to my house instead of going to a lawyer office. Is this common? Do you guys had the same situation? please let me know as I’m very concern about this closing that it’s so good to be truth. txs
Denise,
Please update your refi status, thanks!
So a lawyer came to my house and went through all the paperwork with me, all was there as promised. I will skip the next month mortgage payment and the following month I’ll start with the new deal. Next week I’ll find out if the “old” loan was paid in full (as this can take from 5 to 10 days). The only complaint I have is about the appraisal, the guy did not listed one of my bathrooms (even though the bathroom was on the pictures) and also he did not count my finished basement as a live-in area, but I did got the needed value for the refinance. I could have changed my appraisal but it would have taken one more month and since I’m leaving on vacation I did not want to worry about it anymore. So papers are signed, everything as promised, BUT I still want to see the “old” loan paid in full, I’ll update as soon as I find out.
Denise, thanks for the update! I am waiting for underwriting. It should not take too long to close. Appraisal was fine.
I have called Roundpoint and the “old” loan has zero balance, they will send me a statement with that info. As promised our new mortgage payments will start in may, we could skip a month. Let me know how it goes, I wish you luck!
I thought I’d share my story. I was with TBW and sold my home the very day they were shut down. My title company reportedly had confirmed that it was ok to send my loan payoff and they told him it was a go. He sent it – All $191k (incl. the $21k that I had to bring to closing as I sold for a loss). A couple weeks later I started to get letters from BofA about them being my NEW mortgage bank. But wait…I sold my home, guys! Ends up the feds shut them down. My payoff is “lost” and according to BofA I still have an outstanding loan! Of course, there are new residents in my former home paying their mortgage to a different bank for the same house! I am sure I am owed Escrow but not sure how much. The tax forms I received are of course wrong because they include numbers for a mortgage that went all year but I only paid for half the year because I actually sold the home and paid it off in August. So, what do I do? I just want them to acknowledge that the loan is paid and to stop harassing me. I have all the closing documents that prove this was done including proof of the wire transfer that was paid for the pay off. Considering that that I had to sell my home because my husband died makes it all the worse. :-(
Kris
Kris my deepest sympathy is with you.
It makes me just that more angry and upset about all of this with TBW.
We just shouldnt have to deal with this. TBW never notified any of their customes of any of this–instead they’ve only screwed us around
You can punch in your loan # on the TBW web site to see who your investor is and the contact info. Not sure if that leads to money back yet though. At least you can see who has your loan.
I am very upset with all of this also, I am one who is caught up with issues on my credit. TBW reported I was late when in fact I was not, my payments were lost and never entered in addition to all the conflicting informatiom to send or not to send the payment. If the goverment and credit agencies are fully aware of what happenned to the lender, why are we suffering the side effects and having to pay the price for their mistake. I have been fighting to get my credit corrected to refinance as the lender that I was transferred to is also a nightmare, but due to the Mtg lates on my credit I cannot move forward without a hefty price tag. The government needs to pull through for all of us and get us a resolution YESTERDAY!!!!
I am in the same situation as many. My house payments were made automatically and I was never informed that TBW was shut down. August and September payments went out as usual and then i received a call from Bank of America saying i was 2 months behind on my mortgage payments. No welcome to BoA letter saying we purchased or were given your mortgage-just where is our money. I told them if they inherited my mortgage they inherited the responsibility to recover the payments from TBW. I’m not sure who is actually responsible and like many others am only getting scarce and conflicting information. It’s funny how BoA can be bailed out but all of us who take care of our responsibilities get shafted and ignored. If anyone has an answer to this mess please help.
Verle my story is a mirror image of yours – we were paid a month ahead on our mortgage since it’s inception and am still here on April 30, 2010 fighting to get my payments accrued.
We have..had..whatever a TBW loan as well. We refinnaced with the wonderful presidents stimulus program. We CLOSED in July of 09, only to start being hounded by Bank of America starting in August. To make a long story short–we are still WAITING to see whats going to happen with our home.
The payoff for the old loan was never taken care of when TBW shut down. So, then BAnk of America tried to foreclose on us. We sent their attorney copies of our closing papers. We have heard nothing since.
My honest opinion, and Im sure everyone else feels the same way–TBW–bankruptcy or not–shut down or not–they should be responsible for compensating ALL of us customers–over 700 I believe, for the stress, and heartache we’ve had to suffer and still deal with. They should have to make each and every account current. We refinanced to get caught up after I’d been laid up recovering from surgery–and we ended up being 4 months behind. Thanks to all of this crap, and not knowing WHO to send a payment to–and not sending one in for fear it was not being cashed by the correct people..we are again, at least 3 months behind. If they had been honest and upfront with their customers from the beginning, maybe ppl wouldnt have gotten screwed over so badly. After all—how many other ppl in the world would feel comfy sending a check in to someone, not knowing where it was going, or what it was going to be applied to?
We JUST got a letter from TBW informing us of them closing their doors–A WEEK AND A HALF AGO.
We’ve been fighting with Bank of America and TBW since August when they closed–only reason we knew they were shut down was b/c of Bank of American informing us of that.
Ive got health issues that are already irritating and stress just makes it worse.
Whats going to happen to all of us affected by all of this? We need answers NOW!!
Lesley I am in the same situation as you and according to the bankrupcy court docket 750 others. The way the app. 750 “net funded” refi loans have been yreated is unacceptable. We have all been held hostage here. What if I wanted to sell my home sometime over the last 8 months? What if I wanted to persue a mod for some reason? Insurance and taxes must be payed “out of pocket” even though I am paying to an escrow fund. Calls and letters from BOA threatening forclosure to property they have no juristiction over. This situation is ridiculous. The way I understand the courts resolution regarding this issue is that our new loan will be picked up by somebody, the old cancelled and then I guess we all will have to come up with 8+ months of payments to be “caught up.” Leslie you are the first poster here that suggested that all these loans be modified and brought current. I have been putting aside money and am willing to pay someone. Afterall that is my responsability as a homeowner. However if the court orders the new investor to modify and bring current the new loan, that will basically free up all money I have saved leading up to this. That would do wonders for my current financial situation. I feel confident that it would help hundreds of others also. My monthly payment is about $1500p/m. I owe 8 payments currently(Aug-Apr). $12,000 just sitting in my bank waiting to go to someone. I imagine that out of 750 or so net funded loans, several hundred of these are in nearly the same situation as I. These loans should be required to be modified and brought current. Both for us and the investor. Who in here wants to purchase a mortgage when the borrower is “in the hole” $12,000 to start. As for us who have been stashing our payments, we could be brought current and do other things with our money. Is it too late to introduce this kind of idea to the bancrupcy court in Jacksonville. Could a court legally force a modification upon an investors purchase of a loan. Just wondering. Thoughts??
We represent people in the same circumstances. we have filed suit to recover money. Contact if you wish to talk
We have filed suit in federal Court and the case is pending. Can add Plaintiffs.
Good morning Bill,
Which firm do you represent and how much would it cost to be included in the suit? I am most interested in this information as we, too, have suffered much stress and adverse effects due to the misrepresenation of TB&W.
We have filed suit in Federal Court. Can add plaintiffs.
I want in.
I would like to know who to contact to join suit
Ok, here’s the deal. I know exactly how many ppl have been affected by all of this. I have seen the court docs–preceedings or whatever they are called. The first thing that should have happened, is that TBW should have been forced to tell EVERY SINGLE ONE of their customers about the fact that they were shut down by the feds. WE HAD NO FREAKIN clue until Bank of America started phoning us. I wasnt about to pay a dime to Bank of America. They had our ‘old’ loan that was suppose to have been paid off, but apparently never was. I couldn’t get anywhere with TBW–they kept teling us to call and talk with them. When we would, no one answered the phone–it was always a recording stating to call back during normal business hours–when IT WAS during normal business hours. I know that my husband and I have not been the only ones to not be able to take the payments that werent sent in for mortg. payments and save them. We’ve got families and somethings just come up and can’t be avoided. EVERY one that Ive talked to–and have told them the entire retarted situation has agreed–they wouldnt have sent a payment in either not knowing for sure where it was going, or what it was being used for. Bottom line is–all of us affected by this CRAP with TBW have, as Jeremy said, been held hostage. Its pathetic and ridiculous. I dont care what TBW has been going through–they are the lender who we were with and they need to fix it and get it straightened out. This has been going on for how many months? None of us have been updated or anything. The only reason that I am updated is because we got our title company involved in all of this. They wanted to know just as much as we did, what happened to the check that they cut for our closing at our refinance.
This is one of those things that they should be responsible for their actions–they screwed hundreds of ppl over–and they knew they were doing it. They should be held responsible and have to MAKE THINGS RIGHT!!!!!
We have already filed suit over these issues and the case is pending in Federal Court. Can add plaintiffs.
Bill, Tell us the law firm or how to add a plaintiffs
I would like to get information about the suit that has been filed – we may be interested in being added.
Thanks
I forgot to add that Ive contacted the FTC, the BBB, and the Florida State Attny General more than once. The first time, the Attny General’s office mailed me a letter–the same letter that TBW was sent–they were sent a CEASE and DESIST letter in August.
They were to cease ALL OPERATIONS. That said, then it doesnt seem very cosher for them to insist on payments to be continued to be mailed to them?? What were they doing, trying to use our house payments to cover their asses??
I have come to the realization that nobody gives a crap about us the homeowners. TBW is dead. The last thing they care about is the situation of the 750 “net funded” mortgages. They know that these loans will be transfered and ultimately will not be the problem of TBW. Maybe someone with more legal knowledge than I can elaborate on possible legal action we can take, but at this time I do not have the cash to hire a lawyer to initiate this. All I want is a fresh start. I do not think that is asking to much. I want my “old” loan cancelled. I want my prior “good” credit rating restored. I am not a homeowner in default, as my current credit report states. Then in regards to the “new” mortgage, I want a modification that brings my loan current. I do not expect much sympathy from the new mortgage servicer regarding our situation. However if the court requires these mortages to be modified, then they must do so. This would be somewhat of a victory for us. For those of us who have been saving our monthly payments for 3/4 of a year now, imagine being current on your mortgage and having that money for other things. Just my thoughts.
We have already filed suit and the case is pending in Federal Court. We can add plaintiffs.
Okay Bill how are you suing a company in bankruptcy with the actionable issues in bankruptcy court? The only entity left to bring a suit over is the Federal government and how they influenced the illegal transfers of the mortgages and the mess behind them, good luck.
PLEASE HELP!! I mailed my august 09 mortgage payment to TBW and (they cashed it) now BOA is stating I owe the payment. I faxed them the canceled check several times, and they still cannot seem to find it. Now they are reporting me as delinquent – every time I call over there I speak to someone else and I have to start all over.
Has anyone established a contact over at BOA that can actually help?
Please let me know.
Ken
303-929-6712
Ken,
My situation is almost identical as yours except that I had the automatic withdrawal and as usual the funds were withdrawn so I am thinking my Aug 2009 payment is being made. Ironic that I get a letter from BOA advising me of the transfer and that I am a month behind. To this day I continue to show a month behind but every time I call BOA assures me that my credit will not be affected. I just usually speak to the customer rep I get on the phone. I’m thinking of just getting caught up with my payments then refinancing with someone else to get away from BOA also.
bank of america 1-800-669-2443 ext..3274 her name is kat (for real).. she is very helpful and up to date info on your old number with net funding from tbw
Geez the more I read the more angry and upset I get. Course, Ive been sayng for MONTHS “We can’t be the only ones dealing with this!” We have heard NOTHING from Bank of America excpet basically–where is our money?? It was not until we sent copies of our closings statements to an attorney office that was representing BOA–We had actual preceedings–we were served/filed with foreclosure papers. I found the ATTNY’s information and emailed them. I told them EVERYTHING that Ive said on here–they were kind enough to email me back the very next day and asked if I could send them a copy of all of the closing papers. I did, they let me know they received them and we have heard nothing since. NOTHING!! Im not sure what our escrow bal with them was before all this. OUr insurance is due at the end of the month..great! :0/
I know that I am not the only one who is sick of all of this.
We have heard NOTHING from TBW except the statements that they are sending us. Nothing from a new servicer–only from BOA for our ‘old’ loan. Seems to me that IF those of us whose loans are with a new servicer–they should be informing us now.
TBW has insisted that we send payments in even though they’ve been shut down. Do you realize how long its taking once they get the payment for it to clear our bank? Its well over THREE weeks!!
:0/
We have already filled suit and the case is pending in Federal Court. Can add Plaintiffs.
Can you send me info on this claim that was filed? I refinanced almost a year ago and had a payoff sent to TBW that was never closed out so I ended up with BofA taking over my loan, even though I’m paying my mortgage to the new lender. I just want Bank of America to close the non-legitimate loan so that it doesn’t potentially show up on credit reports etc. I also think I’m owed some escrow money from an extra payment I made at the time I refinanced.
Kevin,
Go to BMC Group and look up Taylor Bean bankruptcy you will find that it needed to be filed by June 15. Soon I beleive you will see another claim option until then you may want to retain a lawyer to assert your rights under the mortgage DOCS you had with TBW which I am sure has common law fraud involved, they were using our money to make other investments that is common law fraud, good luck.
I have been effected as well> My August payment was sent in and of coarse it was not applied to my loadn, my loan was transfered to Bank of America and I started getting the calls 3 weeks before I even know the feds had shut down TB & W. I thought Bank of america was nuts so i just kept hanging up on them, thinking they had the wrong person….My August payment is still lost, I am unemployed and barely making it, i get late changed added every month and have o call every month to get it reversed and all I ever hear is “we are expecting the money any time now” or “Oh we have started to get the missing payments but yours is not one of them. Blah Blah Blah, so they think we all can just throw away hundred and in some cases thousands of dollars???? I told Bank Of America I fullfilled my obligation I paid all my payments (I also sent them front and back copies of the cashed check from August). I need this money…..what are we all supposed to do? Does anyone know???
TO ALL NONE OF THE SERVICERS ARE AUTHORIZED TO COLLECT THOSE AUGUST PAYMENTS THEY ARE ATTEMPTING TO COLLECT FOR THE INVESTORS FREDDIE AND GINNIE. SEND YOUR PROOFS OF PAYMENT TO ALL THREE CREDIT REPORTING AGENCIES. SEND THE PROOF TO WHOMEVER IS SERVICING YOUR MORTGAGE GIVING THEM A QWR AND 20 DAYS TO RESPOND AND FIX IT. WE HAVE THE WORST OF THEM OCWEN IN DEEP TROUBLE FOR REPORTING THAT PAYMENT LATE AND NOT FIXING IT WHEN PROOF WAS PRESENTED
My story is the same august payment sent to taylor bean and bank of america herassing me shortly there after. I also thought they had lost there mind because nobody had ever contacted me to tell me that my loan had been transferred to bac. The kicker part of this is that i worked for bank of america as a teller and customers were coming in and asking what was going on and we had no idea. Our computers wouldnt let us see anything on these customers loans. I thought to myself these poor people just trying to make sure that their families were going to be secure in their homes ,then the next thing I knew it was my new nightmare! I know longer work for bank of america ,however i did contact a service and sales teller at another bank of america and she has finally been able to make a bit of a difference in the late fees and put a stop to the phone calls. I almost feel like the light at the end of the tunnel is nearing!
Why remove it Sharon? IF you dont want to read it then dont.
Seems it was put in place here for those of us to vent about a pure fact that we’ve had to deal with some major DUMB ASSES as our mortgage servicers.
They had problems yes, but they chose to keep all of their customers in the freakin dark about it and now it is still uncertain of what will happen to our homes.
Its ridiculous–beyond that. TBW needs to be held accountable for all of the mess that they have put so many through.
Whoever started this ‘blog’..leave it up–it needs to be out there!!
It is pretty simple here, I have documents that show TBW charging for mortgage insurance from Jan 09-August 09 but when the mortgage was transferred to Cenlar they made a mortgage insurance payment of 1,100. Usually it is 133.00 they never told me why. To make matters worse that created a shortfall in escrow Cenlar does a loan advance without our knowledge and tacks it onto our principal without any notification as to why. Can you say breach of contract, recision, 8 counts of fraud. We have recently asserted our right to rescind this mortgage. You owe it to your selves to maybe make the investor pay you back see what happens when you do that and please push your new servicer to disclose the fraud that really created the shortfalls. It took 7 mos. but Cenlar finally did.
Wood
We have filed suit in Federal Court. Can add Plaintiffs
I’m not as negatively affected as most. I was a TBW client until last august. I had noticed that my August payment had never automatically withdrawn from my account. I went online and found out that the feds had shut them down. I called several times and found out BofA had been servicing the loans. I called and even though they had no record of me, they recommended I send in my August payment. Cenlar called me that weekend to welcome me to my new mortgage company. I had to cancel the check. I’ve been calling cenlar about this every month. My august payment is still sitting in my account. It might be with drawn at any moment or not at all. I’ve heard multiple answers. When is the TBW hearing over? I’d love to know, so I can move on either poorer or richer…
First in regard to the claim we put the value of the home in the secured section and added the 1,200 in mortgage insurance that TBW charged our escrow for but never paid. Cenlar in September then withdrew another 1,000 from escrow to cover the unpaid mortgage insurance. When the escrow was going to be short for insurance and taxes they issued a forward advance loan to us and tacked it on to our principal, this was in December we just found out about it a month ago. Look closely at your payment summaries last year and during the transition to the servicers there was some serious covering up in regard to alot of things that we do not know because the government is attempting along with Freddie and Ginnie to keep borowwers in the dark many of them which have not come up in bankruptcy court. These mortgages are not worth the paper they are wrote on and it does appear that they could face thousands of rescinded mortgages with the investors Ginnie, Freddie and the U.S. government left to foot the losses. We have notified Ocwen of our right to rescind and the very provable grounds with which we will utilize. If they defrauded you for months and stole your money they violated the terms of the contract, PERIOD.
It’s May 2010 and my escrow check bounced in January, I just wonder where is my money, do to the issue of bounced check and missing payments my home may go in to foreclosure! My new company American Home Mortgage Servicing has raised our payment by $500 per month to compensate for the lost escrow money! I can no longer afford this payment and have no where left to turn, I am already filing bankruptcy because I had to live on credit cards to keep the house this long. I am so frustrated and getting no answers as to where MY MONEY IS!
We are representing some borrowers who have had many problems with TB&W and some have filed suit.
Tell me more Bill
That’s what I said: Bill we need to have help/join a federal suit with a LEGITIMATE firm who will successfully represent us.
We have filed suit in federal court and the prospects of recovery are good.
contact me if you need more info. We are developing a questionnaire for prospective clients. Am affiliated with a very excellent Plaintiff Law Firm and are adding clients to our suit
Would you please forward me the questionnaire so I can participate and know if we are eligible to join this federal suit. Moreover, would you provide me with further information on the cost of being represented by your firm & you have permission to e-mail me directly. Thank you.
I would like more info regarding the suit your firm has filed.
Thank you!
We are still waiting the resolution of our TBW net funded loan and would like information. Thank you.
I want in too.
What’s goin on with TBW now?! We have only heard that they were shut down, filed bk, etc. We got call after call from bank of America in regards to our Loan that we refinanced. We closed on that a year ago in July. Our first pymnt with the ‘new’ loan was to be in September.
We has bank of America telling us to pay them, tbw saying pay them. What did we do?! We didn’t know what to do. We didn’t send in a paymnent till end of October–which would have been for sept. 1. But b/c we didn’t do anything till oct we show we owe $4,388. Past due. Uh uh…we had no idea of any of this bs with tbw and if it wasn’t for them getting shut down we never would have gotten calls from bank of America.all of the ppl who have been screwed over b/c ID tbw should be compensated for the headaches and heartaches we’ve dealt with since learning they closed. We have sent payments to tbw since October BUT WE HAVE NO CLUE WHERE THAT MONEY IS GOING!
I’ve had many sleepless nights b/c of all this!
Bill I was hoping you could forward the information to me on the lawsuit, TB&W owes us about $3000 in escrow funds.
deverfam5@gmail.com
Thanks much
I have looked at that bankruptcy site that someone posted bmcgroup. com but I don’t understand the form it is asking to be filled out.
Got my check today!!!! It has been a long process, but finally came through. Thanks to everyone who used this site to keep everyone updated on what is going on. I hope everyone else get their check too.
Keith, If you don’t mind me asking. Did you coordinate this with BMC group? I was told by BMC group that they would be the source of status information on the TBW release of escrow funds ruling.
Ok, why have our new mortgage companies not told us that we needed to file any papers to claim our money? We were transferred to CENLAR, and all that they’ve told us is that they are still waiting to recieve our escrow accounts from TBW. We stupidly assumed that meant there was nothing for us to do but wait. What should we be doing at this point to recover our money? TBW sent a check for a little over $4000 to pay our property taxes, and the check bounced. Luckily for us, our county treasurer was very cooperative, and CENLAR made sure that the taxes were paid.
I’M SURE THEY ARE HOLDING ESCROW $’S OF MINE, BUT MY BIGGEST CONCERN IS WHO DO I SEND MY PAYMENTS TOO? I ENDED UP WITH TWO MORTGAGES; ONE THAT WAS TO HAVE BEEN PAID OFF AND OF COURSE THE REFINANCED LOAN, WHICH, WAS A REFINANCE IN JULY, 2009. BANK OF AMERICA TRIED TO COLLECT ON THE “PAID OFF MORTGAGE”, AND IT TOOK ABOUT 9 MONTHS TO GET THIS STRAIGHTENED OUT. I AM NOW GETTING STATEMENTS FROM TBW FOR THE PAYMENTS THAT ARE DUE BEGINNING IN SEPT, 2009. TWO PAYMENTS WERE POSTED TO THE OLD LOAN BY BOA, BUT THAT IS ANOTHER PROBLEM. I HAVEN’T RECEIVED ANYTHING REGARDING WHO IS HANDLING THE REFINANCED LOAN. ANY SUGGESTIONS WHAT I CAN DO AT THIS POINT. I HAVE NO INTENTIONS OF SENDING ANY $S TO TBW.
Brenda, you sound like one of the 750 that had refinanced but TBW has held the proceeds and now they are part of the frozen assets. Put together all of your old payment summaries etc, go to BMC GROUP on the net go to the TBW bancruptcy look for the contact lawyer I beleive for the plaintiffs get their number and talk to them about the issues you have. One more thing I don’t like lawyers but you may need to talk to one.
This is beyond ridiculous!! TBW has been nothing but trouble since this time last year. They NEVER contacted any of their customers in regards to all their problems. We had NO freakin clue that anything was going on with TBW. We refinanced, closed and two weeks later started getting calls from BOA! We are getting statements from TBW still. I don’t like sending them a payment–how the heck do we know what they are doing with the checks? They are after all, suppose to be closed for business! I had to stop the last check I sent to them b/c of lack of funds when other things came up after I’d already mailed the check in.
We have heard NOTHING. We have NO clue what is going on. I’ve got a letter from the Florida State Attorney General stating that TBW was to STOP ALL OPERATIONS. Seems to me they are doing the exact opposite.
I still think they should be responsible for any and all the misfortune that they have caused everyone with all their crap!
We need to report them to as many people as we can! Not only do I share and have shared the same story as many of you on this discussion panel …I am also trying to get it reported/investigated!
Here is where I am starting – feel free to also submit a consumer complaint: http://www.wral.com/5onyoursid.....e/1001542/
We need to make some noise and get heard already!
I agree Stefanie!
EVERYONE who has had problems with them needs to rip them a new one! EVERYONE. ANd the attorneys representing them need to know that all of us have had nothing but heartache to put up with. Physically as well as emotionally, this crap has done a number on my health–lack of sleep and worrying about having a home to live in thanks to TBW.
These loans need to have the net funding completed (this should only be a bookkeeping entry), and assigned/sold to another lender. I have said all along that the new administrator should forgive the back payments (easier on us and on them), and start everyone out on a fresh slate. I work with someone that refinanced at the same time I did, however, she isn’t banking the payments and doesn’t know what she will do when this is finally settled. Makes you wonder how many of the 750 ppl will lose their homes to foreclosure.
I am one of those people who looks like I have 2 mortgages. BoA thinks they have rights to my house. They have the old TB&W mortgage that was refinanced to a new TB&W mort. I have called the police because BofA is sending out people to “secure the property” that I live in. I have been paying my new Mort. that was serviced by TB&W. My big question is there was an escrow paid with each payment. If TB&W cancalled all of my checks after their accts. were frozen, who has my escrow and how can I get my taxes paid! I have a law suit against BofA but they have stalled it. I have written my Sentor and everyone else listen as an attoney in the court papers listed aon the bmc group page. My attoney fees are currently over $10,000. I have filed a claim. Nothing is happening. Now I have been told that my new mort. is being transfered to another Company, Fannie Mae said it will be BofA. Great! I don’t see an end!
Bill, I would like more info on the lawsuit that apparently has been filed. I have spent untold hours on the phone w/BOA and finally BOA stated that the matter had been resolved, but nothing in writing. Now, TBW is sending statements for $’s due. I paid my own insurance premium and advised the insurance co. that I had no idea who should be named as loss payee. If there is a lawsuit pending, I would be very interested in joining the other participants/victims. Thanks, Brenda
I agree with Brenda, as Im sure the rest of us people d0–750+
people!
I started all of this investigating when we started getting calls from BOA. I started with our title company.
They had NO clue what to tell me nor did they know what was going on.
Ive given up–Ive not heard from the title company in months. Last time I did, they wanted to know if I had back payments and I told them NO–I can’t do that. Why? Because LIFE HAPPENS!!
The title company should have been wise to something to begin with, after all they were the one who wrote/cut a check for the closing payment right? They supposedly hired an attoreny in Florida to represent them.
Im just sick of it all. They need to do as Brenda and Im sure everyone else feels–they need to get all taken care of and they need to start everyone out on a clean slate. NO ifs ans or buts about anything.
TBW is the reason for all the grief that so many are dealing with in regards to their homes. :(
Hi folks, I havent posted in long time. we like you have been screwed by TBW as well as B of A mainly BoA I had Surgery and then had my hrs reduced and BoA said qualified for making home affordable modefication so waited and waited called B o A several times why no packet of paperwork. oh it take a while they said. Last tome i called they said we no longer qualified and we got a certified forclosure letter in the mail. I dont know what kind of games these people are playing . but yes we all need a lawyer no none of us can afford one so, at this point i`m going to start with HUD.gov they have a hotline number fo us to call the are the ones who are supposed to keep all these banks and lenders in check. on your mortgage you should have a HUD # or it`s on your home.
Susan, I filed a complaint with HUD. I got a call from them like a month or so after I did that and the guy acted like he had NO clue as to what to do or to tell me.
I felt like I was talking to a tree. :(
What should have been done, was that somehow, TBW should have been made liable for all the problems they caused. Plain and simple. People shouldnt have to worry about losing their homes b/c of their incompetance :(
The reason HUD doesn’t know what you are talking about is the loans were never sent to HUD for processing; therefore, the loans are not FHA insured. I talked with HUD several months ago and the woman I spoke with was very helpful and explained that because the net funding wasn’t completed TBW had not sent any paper work to HUD. So we’re out of luck there. Believe me, I have talked with everyone I could think of; congressman, HUD, etc. I was able to get BOA off my back by supplying them with all the paper work from the refinance, three times, and also giving the name of the contact at the closing attys office; however, I haven’t received a confirmation in writing from them, but no phone calls or letters in the past three months. They did post two payments, one that was mailed to Colonial Bank and one mailed directly to them. I haven’t sent any add’l payments, although I am holding the $s in a savings account. I have been doing this for several months and a lawyer I contacted stated that this is exactly what I should do until this mess is cleared up. My biggest concern is that this will drag out for years, as the feds are involved. The easiest thing for the feds to do would be net fund the old mtg loans (a simple bookkeeping entry), sell the refinanced loans for whatever they can get, with a provision that back payments will be forgiven, allow the new administrator to request the escrow account be brought current or increase the payment to do this for a short period of time, and allow everyone to begin anew. I’m sure a lot of people won’t have the $s to bring the payments current.
At one point I was so angry at BOA, I told them to go ahead and foreclose and I was told that I didn’t want them to do that and I assured them that I did. At least then I would know how to proceed, as in law suit, for unlawful foreclosure.
That was gonna be my next step, file a complaint against BoA for shady or bad banking practices. i mean those people are a joke there playing with our lives i`m pying double for the lost escrow and 300 more on the house but the modification thing is what realy tore me up. so now we are current and still get no help and yes i had a break down the other day, dont know how much more crap i can take. I cant believe there is no one to help any of us. does Clark Roberts .com ring a bell. its a talk show on HSN or HLN one of those might try looking into that other wise I`ll just keep fighting with BoA
We have also been dealing with a net funded loan issue since last August. We closed our TB&W refinance on July 26th, and the loan was to have funded on July 29th. Our original (refinanced) loan went to Cenlar but we have continued to pay TB&W according to the terms of our new loan. Cenlar has been very good and has understood from the beginning our situation, but I am getting concerned that taxes and insurance are coming up again soon and TB&W has 9-months of our mortgage payments and escrow. When emailing TB&W, the customer service rep states that they have no idea when our loan is going to be transferred to another servicer and whether that new servicer will satisfy our original loan or cancel the new loan. That was the first that I had heard that we could possibly be responsible for the terms of the old loan. We have stopped paying TB&W and are holding our money in savings until this mess is finally straightened out and we know who to pay. We are also saving the money in case we have to pay our own taxes and insurance. Has anyone had their net funded loan transfered from TB&W yet?
Thank you,
Inge Frederick
I haven’t had my loan transferred yet; however, BOA advised that they were zeroing the balance on the old loan, but nothing in writing. I have held all but two of my payments in a savings ac. Like you, we refinanced in July, 2009. My insurance was due this month and I paid it out of the monies in the savings ac and advised the ins co that I did not know who the loss payee is. I am planning to contact the bankruptcy court in Fl. and inquire how much longer this fiasco is going to be drawn out. One year should be more than sufficient time to get something settled. I am due escrow monies from TBW and additionally BOA should refund a portion of the monies sent to them. They did cover the 2009 property taxes, but two payments was more than enough to cover the tax bill. Additionally, we will not have interest amts. to deduct from our taxes, which will definitely hurt me. I’ll let you know what the bankruptcy court says.
Brenda- I will be interested to hear what the Bankruptcy Court has to say. We have been dealing w/ this net funded issue for way too long. I can’t believe there is no one who can give us an honest answer. But, that’s probably because “they” are making up the rules as they go. Is it to much to ask for the Bankruptcy Court to appoint one person who can address the concerns of all the net-funded loan holders???
Inge- We refinanced July 22, 2010 & our loan was turned over to Cenlar as well. They have been understanding, but at some point that could all change. We paid our homeowner’s insurance in May & our property tax will be due in October. We stopped paying TBW in February & our stashing away our payments in a savings account. Thank you for sharing your story, I wonder if any of the original net-funded loans have been settled?
Sarah
We have never heard a thing from Cenlar–only Bank of America.
The only thing we ever get from TBW is a statement–for the ‘new loan’. BUT…we have NO clue as if the old loan shows as being paid yet. Bank of America tried to foreclose on us. It was not until I sent copies of our closing statement to the law office that BOA was using, that we stopped hearing from BOA.
I agree..they seem to be making rules and stuff up as they go. Who cares what happens to those of us affected. Its wrong–just plain wrong. And as far as TBW goes–they should have and you know they DO have, records of EVERY single one of us affected by all of their crap.
Does anyone really know anything yet about this additional lawsuit against them?
I spoke w/Cathy Perkins at the bankruptcy court, and she stated that they were no longer involved and referred me to the debtors atty. When I called there, I spoke with Robin, and she stated that everything is now in the hands of Ginny Mac and/or Freddie Mac. They are handling the net funding on an individual basis, to determine which loan will be honored. This is supposedly to include the opinion/desires of home owners; however, it doesn’t appear that anyone on this blog has been contacted. Robin also stated that I should contact BOA as it seems they will be the administrators/mortgage holders. I called BOA and got the usual run around, transferred, cut off twice. Finally talked with Robert, in customer service, and was referred to the department manager, and left a voice mail for a call back. Of course, I’m still waiting for the return call. So what else is new? As of right now, the Feds are the hold up because of the net funding glich. Also, any escrow monies due to us are being held up until whenever. I plan to keep trying to find someone that knows what is going on and when this mess will be cleared up. Of course, I will keep everyone advised. From a legal stand point I don’t think that BOA can foreclose and they know that. Unless they have their heads in the sand they have to know what is going on, although they do have a reputation for being assholes.
Brenda, I got the same run around with Paul St.Laurent from Ginny Mae. He told me the same thing that my new TB&W loan will be evaluated to see which loan is valid. According to my County Tax office, I have both loans on file. (You can check this online in many states and Counties.) I have a law suit against BofA which was filed in Feb. 2010. There was a verbal agreement with BofA on April 1 2010. No paperwork has been sent. Just this month, BofA has sent out 3 people to secure the property that I live in. I have had to have my door jam repaired twice. BofA has had the closing papers sent to them twice. They don’t care! I haven’t received any statements from BofA since Dec. 2009. I was told by Ginny Mae that since I have been paying on my new TB&W loan, that this shows that it is more current. BofA is going to push for the higher interest loans. That is what I was told. I have an $1850 Tax bill due Aug. 15. I am going to push Ginny Mae! Keep calling them! Those who have been putting their $$ in a saving Acct. and not paying anyone…..Check your credit report. I have heard that BofA and TB&W have reported it.
Brenda, thank you for letting us know what you found out today. I spoke to a representative from Cenlar today (who I have been told will also be getting our refinanced loan once it transfers), and the rep told me that they have received no new updates. As I mentioned in my previous post, Cenlar has consistently been easy to deal with and they have known from the beginning about this net funding mess. They have never tried to get any money from us, nor have they reported us late on any payments. If we had to go through this ordeal, I am grateful we were transferred to Cenlar, not BOA.
TB&W owes us about $500 from our escrow account, which we will hopefully get when this is over. Last August, I never imagined we could still be dealing with this issue a year later. The worst part, I think, is that we all have to do all the calling and searching for information. I have spent hours and hours on the phone trying to speak to anyone who can give me definite answers and timelines. No one has ever initiated any contact with us, as it sounds like with most of you all. Some days it is hard for me to believe this will ever be over!!
Good luck to all of you – hope you get a resolution soon. I will post if/when our loan transfers – or if I get any answers to our questions about when the transfers will occur.
Have any of you others dealing with TBW and all of this mess contacted the Florida State Attorney General’s office?
I have–and they are aware of the fact that TBW is NOT suppose to be servicing any loans or even be open for business.
110 S.E. 6th Street, 10th Floor
Fort Lauderdale, Florida 33301
(954) 712-4662
Try contacting them–so far, they’ve been the most helpful to me–at least they are concerned with what is happening..or not happening rather.
Sent payment to Taylor, Bean, and Whitakerlast year 08-3-09 numarus calls since payment soposably held up in bank ruptcy. Bank of America continue to call for payment.
I would also like to know about any law suits. If anyone has any info regarding who we should contact, please let us know. I sent a e-mail to the White House this morning in an attempt to find out if we can get any relief and/or help on that front. HA! HA! Any port in a storm. I’ll let everyone know if I receive a reply. Don’t hold your breath, unless you look good in blue.
I sent a letter to the White House also and to the Senate Banking Commitee and I was told to contact HUD for not making payments. I have been making payments every month since Aug. 2009. NOW that I have taxes due, … I took my next 2 months payments and put them towards the taxes. I faxed a paid in full receipt to TB&W. I just got off the phone with a Mr. St. Laurent from Ginnie Mae. He told me that Ginnie Mae and Bank of America will have to figure out which loan to keep. BofA is going to want the higher interest rate, and the TB&W one that I have been paying on will be null. Then I was told to NOT pay any more money into Escrow because I will probably lose all of my $4458 .27 that TB&W has been collecting since Aug. 2009. I just got screwed 2 ways!
I thought that everyone would find this as interesting as I did. I just came across this story–dated June 17, 2010
http://www.consumeraffairs.com.....ean04.html
My question is, those of us who are so greatly still affected by all this crap? WHY are we still having to make a payment if we are just going to get screwed whether we make one or not???
Today a rep from Cenlar told me that the loan from TB&W was tentatively scheduled to transfer in September. I haven’t received a statement this month from TB&W and my emails to them are coming back undeliverable. The Cenlar rep said it was because TB&W is shutting everything down now that the loans are being transferred.
I have never paid Cenlar – and paid TB&W through May. We are saving the payment money now. Cenlar said that we would have the opportunity to bring our loan current when it transferred and that we SHOULD NOT send any more money to TB&W. He also said that we should get copies of the checks we wrote as proof of the payments we made to TB&W. I checked my credit report. The Cenlar (old) loan is shown as having a zero balance. The TB&W refinance is shown as open and current. Neither has adversely affected my credit.
On another website I saw the number for an attorney working for Freddie Mac and dealing with the TB&W situation. John – 703-918-8935. I’ll call tomorrow to confirm what I’ve been told by Cenlar.
Inge who did you talk to at Cenlar? I’m in the same situation as you. Can you give me that contact info?
I have talked to John at Freddie Mac as well. Heard the same thing about a transfer finally in Sept.
no_TBW.
I received this information after my call was turned over to a supervisor. It was the first time I had spoken to a supervisor at Cenlar. In the past I always heard, “no one else can give you any more information.” I was in the car and couldn’t write anything down, but I call at least once a week – so after my next call I’ll write if I’m given the same information (and who I’ve spoken to).
On a Taylor Bean support group on FB this was posted:
Jeremy Herold ……. I got a letter from TBW also. It states that my loan is being transferred to BOA effective September 1st. My lawyer is working with BOA on the modification of whichever loan they decide to be valid. I will have my balance from last August b…rought current and my rate reduced to around 3.5% for 5 years then 5.5% for the remainder of the loan. Plus I have been banking payments since this began so I have thousands in the bank I can keep. Pretty good deal in hindsight. No mortgage payments for a year, then a lower fixed rate than I refinanced for originally (that got me into this mess). It has been very stressful though. I would wish this situation upon nobody. Still isn’t over. Getting there though.
It sure would be nice if we all got this!
Has anyone else received a letter from BOA regarding a possible transfer in Sept? I haven’t received one and haven’t been successful in talking to anyone at BOA, nor has anyone returned my many phone calls. I’m at the point of telling them to foreclose. I tired of wasting what little time I have when I’m not working trying to find out what is going on and getting no where. Does anyone have any info regarding a law suit and, if so, who do we need to contact to become a part of the suit? I, for one, cannot afford an attorney to pursue this on my own and I feel that I am owed something for all the time I have wasted. I work two jobs and am a single mother of 3. I’m not trying to beat anyone out of what I owe, but I need some relief from all this worry and stress.
Dear Brenda,
You are not alone. I have had to change the locks on my door and replace the door jam because BofA tried to “secure the property.” I have been treated for 4 different ulcers. I was told today another ulcer is back. BofA has just cost me money. Money I don’t have! I have over $13,000 in lawyers fees. That is money I don’t have. If BofA kept to their agreement in April, my lawyers fees would be only $5,000. Who is going to pay this bill? TB&W owe me $4,452 for my current Escrow! So yes we all hear your pain! I was told the only way you can file a suit is in Bankrupcy court.
I am so confused about what is going on. We refinanced under Freddie Mac last Aug./Sept. “09 and it seems like a week later they went bankrupt. I don’t know what to do or who to contact to see if my old loan is paid off. I have emailed TBW and get no reply.
Tiffany – If you are experiencing issures with BOA, you need to call HUD directly, they will take your information and work with BOA. – 866-449-1661
My husband and I are being asked to pay 2 morgages. Our original loan was through TBW and we refinanced through them 1 year later to lower the interest rate. Our original loan was never pain off and instead given to Bank of America, whom is now trying to foreclose on our house. We continue to pay on our current loan and are having to fight the forecloser.
I got my letter from TBW advising me of the transfer, whatever, effective 9/1/10. Depending on what BOA proposes, I may have to hire an attorney to handle this mess. Like everyone else, I don’t have the $’s, but what else can I do? Does anyone have an alternative suggestion? I co-operated with BOA from the beginning, sending all the info they requested, but why do I have a bad feeling about this whole situation?
Friend was just served papers by parties representing BOA. They are stating that he is behind two payments, Which he isn’t those payments were made to TBW. What a complete mess. They obtained bank records showing the withdrawal (wire transfer where money was sent *payment made by phone* to TBW) was told that wasn’t good enough. They wanted checks? These days who actually uses checks? I don’t. I advised them to hire an attorney.
BOA knows where their monies are, why go after the homeowners?
Has anyone who had their old loan transferred to Cenlar received anything is writing yet as to when the refinanced loans will be transferred from TB&W? I have been told that the transfer would happen Sept. 1st and Sept. 16th, but then when I called today I was told that they had no date as of yet.
Inge,
Last I heard from a Freddie Mac lawyer, a letter should be sent out soon with a transfer date of Oct. 15. This date I’ve heard from TBW as well, and Cenlar.
We shall see though. Obviously, it’s dragging on and on. Frustrating doesn’t even begin to describe my feelings about this.
Thank you for the information. This feels like it’s never going to end…….
They foreclosed on my house. I made two payments to TBW sent proof to BOA and they foreclosed on my house for 3000, which included foreclosure costs and last fees. Then I read an article where BOA weren’t reading any of the mail they received, just stamping foreclosure letter for everyone who came across her, yes it was a woman, desk. I was approved for a modification 6 months ago, I called them and they knew nothing of it, I was approved for when they put my payments at the end of my payment cycle, they claimed they had no proof of that, I just got a forbearance, and I’ve got a copy of everything, but they will deny that too, probably. BOA is awful and I hope a lawyer will come forth and help all of us sue them.
I am experiencing they same thing with BOA, I’ve spoken with numerouse people at BOA, and no two people know what is going on. No one has information on my forebearance agreement even though I have letter documentation. My escrow funds and last payments were not forwarded to BOA from TBW, causing my account to be behind. This has caused distress regarding my credit score, even though I was told since last 10/2009 that all things were being sorted through, not to worry. I too need legal assistance.
Yes, BOA is outstanding in misdirecting, always telling me, something is going to be done. after 20 months, I now have a request number ! and the request is just to have in writing what they tell me every time I call. I do not expect BOA to send me anything in writing. customer service is not their strong suit.
Lorie you are exactly right. BOA have been saying that I am one month behind (August 09) when all this mess stareted. I sent them proof of the money order TBW cashed to Colonial Bank several times. I called TBW debtor attorney’s office and was told that these funds have been released to BOA. They better find my money. I’m ready to file a class action law suit myself. This does not make any damn since. I’m very upset because I have not missed a payment.
I know this is an old post. BofA initially accepted an electronic copy of my bank statement from my bank. I sent it no less than six times. Last July, I got a conference call going with one of the morons from BofA and my bank. I authorized some kind of a trace verification directly between my bank and BofA. Because BofA did not request this until 11 months after the search and verifiication was super complicated because it was more than 6 months old. I also demanded a copy of all correspondence which I never received.
My husband and I have the same problem. We recently received a notice from our current mortgage company, Cenlar, that we have an escrow shortage. Sidenote – all of our taxes are escrowed and we recently had our home reassessed to lower the taxes. According to Cenlar, we owe them $5000 plus to cover the shortage. What we figured is that TBW never paid our school taxes in 2009. Hence the reason for the shortage.
Question…is the new mortgage company by law allowed to bill us for the shortage which occurred by the previous mortgage company that went bankrupted? Bottom line.. we paid our bills on time.
This is great information, I am not alone. The whole process is unfair.
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….
Go back to your Bankruptcy attorney. They can re-open your case with the Trustee and ask for sanctions against BofA. That will get BofA’s attention.
Is anyone having any luck w/BOA? I received a notice of intended foreclosure from BOA on the old loan #. Called again, and of course person I talked with had no knowledge of new loan #. However, today I called and was transferred to Loan Retention, Litigation Dept., and the person I talked with did know of TBW transfer; however, she could not talk with me until she received permission from the litigation person handling my account. I was promised a call back within 48 hrs. I won’t hold my breath, but maybe I’m getting somewhere. I have hired an attorney and advised them of this, but stated that I would rather resolve this without involving him, unless it is absolutely necessary, as I can’t really afford any additional expense. I can’t begin to estimate the number of hours I have spent in the past year trying to straighten this mess out. Will let you know how this turns out.
I have hit a brick wall with BOA. If anyone has info on a class action suit against them, please let me know. These people cannot be dealt with by a reasonable person.
No where to turn and endless attempts noone is willing to help.
When I was with TBW, my mortgage was 800 per month 200 every week that was the agreement on my loan documents, now that my loan is with BOA they will not allow me to pay weekly since I was considered behind in the beginning due to previous mortgage payments that were sent to TBW totaling $1000, so now long story short I am $5000 behind and have tried every hardship program BOA had to offer and everytime I get the same story too much debt and not enough income…..duh that is why I am trying to get help! also tried to go through different programs and was told they go off of credit for those programs, well no kidding my credit is shot I have been waiting for money to be applied to my Aug 2009 payment and part of my Sept 2009 payment so what do you think my credit is like, I have contacted many government officials, even emailed the president of the US, no help is out there and if there is it is totally out of my reach….Any advice I am desperate and if I dont do something soon I am going to lose my home.
Approximately 800 borrowers, who refinanced to a lower interest rate with TBW just before TBW declared bankruptcy, are finding themselves in the precarious position of having two mortgage loans against the same property. The reason for this has to do with a practice by TBW called “net-funded loans.” After refinancing the mortgage loan, TBW did not pay off the old loan until they sold the new loan and then TBW would use the proceeds from the sale of the new loan to pay off the old loan. Just after TBW declared bankruptcy, the 800 or so old loans were apparently transferred to the new court-appointed servicers (B of A, CENLAR, et.al.) before they could be paid off using proceeds from the new (refinanced) loans. TBW was allowed to continue servicing some of those newly refinanced loans and TBW told the borrowers to continue submitting payments on those refi’s to TBW (which in my case is what I did). Mean- while B of A, CENLAR, et.al, thought they had good loans to collect against. However, as in my case, CENLAR didn’t push too hard to collect (not sure why) against the original mortgage. Regardless, THE UNITED STATES BANKRUPTCY COURT, MIDDLE DISTRICT OF FLORIDA, JACKSONVILLE DIVISION approved and TBW posted on their website the “Borrower Protocol Order.” The “Order” is supposed to resolve this issue of net-funded loans. From paragraph 45 of the order I interpret the solution of the net-funded issue to mean: 1st) If TBW currently owns the refinanced mortgage, TBW can transfer the re-fi to the new servicer/investor in place of the old loan if the new servicer/investor agrees in writing; or 2nd) TBW can transfer the re-fi to the new servicer/investor, but the new servicer/investor can choose to keep the old mortgage instead if the new servicer/investor can show that there is something legally wrong with the re-fi.; and 3rd) the new servicer/investor must promptly contact the affected borrower to work out an arrangement where the borrower is responsible for only one mortgage.
I have not yet heard from TBW, CENLAR, (or whomever) regarding this court order. Therefore, based on advice from my attorney, I am escrowing the payments to a personal account until the determination is made as to which loan I will be responsible for. I am not suggesting anyone else do what I am doing. Consult an attorney first. This entire mess must wind its way through bankruptcy court in Florida and criminal court in Virginia, so we may not have any definitive answers for some time.
Jim,
I’m in the same boat as you. I received a letter from Cenlar stating the loans will be transferred by the end of October.
I knew that, as I’ve had many conversations with TBW, Cenlar the the investor (Freddie Mac). Freddie is the key party here as the investor. They decided to into the protocol in late May. I’ve talked to the Freddie lawyer who’s overseeing this.
If you want/need contacts. Let me know.
Jim,
Finally got the long awaited letter that John Felix from Freddie said was on the ay two months ago. Basically the letter tells us nothing….they might get back to us with an answer by the end of Oct. and that certain things are out of their control. They don’t know anything about things being ou of their control. I gave them all my executed loan docs 6+ months ago, not sure what they are waiting for.
Regards,
Phil Grose
Hi Jim,
I’m one of those 800 or so net funded loans. I finally recieved the long awaited “letter” from Cenlar on behalf of Freddie. Basically it says nothing!! They will get back to us by end of Oct. maybe!! At that time or thereabouts they will let us know which loan they are honoring. I have not paid anyone a penny since this happened, and feel like Freddie is holding us hostage and preventing us from re-financing to the markets current rates.
Regards,
Phil Grose
Thanks to “no_TBW” – your response is appreciated. I would very much like to know who to contact, but will they give any substantive information?
Jim,
I assume your investor is Freddie Mac. This contact will only be helpful if that’s the case.
Soha Mody, Freddie Mac lawyer
soha_mody@freddiemac.com
Let me know if she responds to you.
Yep, it’s unreal. I can’t get answers anywhere and my payment KEEPS going thru the roof due to the shortage I had. I beyond angry.
I’ve had ZERO contact from BoA or TBW regarding my frozen escrow.
Let’s just say when this is straightened out, I’ll refi with someone other than BoA for the BS they’ve given me, or lack therof. I’m sure there will be another bank more than happy to receive my money!
Keep us informed.
I received the letter from CENLAR (on behalf of Freddie Mac) and it says the same thing you all have read in previous comments – hopefully by the end of October we’ll know something. The point that seems to have gotten lost in all this is that TBW came to me, as I’m sure to many of you, in the spring of 2009 offering to refi at a lower rate as part of President Obama’s program for people who had been paying their mortgages on time and were up to date through all this housing meltdown. Now CENLAR/Freddie gets to decide which mortgage to honor?? If they don’t honor the refi, then what was the point of all this?
Jim,
I’m pretty sure they will honor the refi mortgage. At least, that’s what happening in my case.
Have you emailed the contact I gave you? She is the best, most knowledgeable this whole thing.
Good Morning,
I received the same letter from Cenlar on the 27th. I have been told all along (by Cenlar) that the terms of the second loan would be honored (lower interest) even if they had cancelled the second loan and had to modify the first to the refi terms. I am glad that we went to Cenlar and not BOA. Cenlar has been pretty easy to deal with, other than never having any information about when this ordeal would be over.
We paid TB&W through May, but then stopped and started banking payments when we didn’t see an end to this and were concerned about the safety of our money. Has anyone heard whether “they” will modify the loans to allow us to pay from the point of transfer and put the missing payments on the end of the loan? I am holding onto the money in savings until I make sure that our taxes and insurance are paid. TB&W has had our old escrow account tied up for 14 months ~ I want to make sure to have the funds available to pay out-of-pocket if we need to do so!
I have not seen any posts for a while now from anyone regarding this. Who is getting notice from BOA and being threatened still with foreclosure? WE ARE!!!
And once again, if TBW had been made to notify all of their customers of all the crap they were doing, when they were shut down, maybe we wouldn’t be in the boats we are in.
I am ready to throw my towel in and say to heck with it all. Its stupid and its ridiculous to make US pay for the mistakes of a mortgage company who obviously did hundreds of people dirty.
Bank of America is no better than TBW!!!
We have had NO contact from either place until about 3 weeks ago when we started getting a ‘statement’ from BOA. All it said was what our payment amount was. And then last week, we got a letter telling us we owed over $4,000. And then yet another week later, another letter. Today we got one telling us that we owe a little over $3,000. So the new question is, do they really know who owes what? Are they just trying to screw everyone over even more?
The whole reason we refinanced was because we got behind when I was off of work for so many months. We saw the chance to refinance through the wonderful ‘stimulous’ program, applied, and look where it got us. Right back to ‘owing’ the same amount as before.
Freakin crazy!!!!!!!!!!!
Just posted my nightmare with BofA
We are also have 2 loans that were assumed by BOA. One is fine but the other we receive late notices from BOA every month stating that we are 1 month behind. In truth, we paid Taylor Bean 2 weeks prior to BOA taking over and the payment was never turned over to BOA. So, now BOA is demanding we pay it again, even though I have shown them proof that Taylor Bean drafted the payment from my BOA checking account 2 weeks prior to BOA taking over. What do we do?? Do we really have to pay it again?? We are not is a position to pay another payment.
Any advise on how to proceed? Now we are receiving notices of foreclosure…
TBW transferred net-funded loans to Cenlar (Freddic Mac-backed loans) on Friday.
I got confirmation this morning. Great news. Almost over for us that had net-funded loans with Freddie. Should be making first payment to Cenlar on Nov. 1.
Hi no_TBW – Did you get a letter? If so, from whom?
I haven’t received a letter yet. Such email confirmation from a TBW VP and a loan activity print out from them showing what was transferred.
I asked for that though via email.
The goodbye/hello letter will be a joint letter from Cenlar, as instructed by the investor, Freddic Mac.
I am so happy that I found this site b/c we had TBW. We had done a loan modification with them and we’re doing great until they went under last year. First we were transferred to BOA and then to Ocwen. Has anyone else had to deal with Ocwen. It has been a complete nightmare. All the payments we made during a 4 month period were not credited. Then Ocwen takes over and charges us $2400 in late fees, etc. We were then hit by a drunk driver – causing a lot other issues – but basically in order to buy a new vehicle, we had to get financing. Our credit was ruined b/c of this mess. We REPAYED all the money for the past payments that they could not find for the 4 month period, plus the late fees, to catch up and buy a vehicle so we had transportation to and from work. Well Ocwen send back our payment, added another $1200 late fee onto it, and said we were still behind. We paid it and got caught up again, but now are in financial trouble since we’ve dumped so much money into this in an effort to keep our house. They have not honored the loan mod. from TBW and have denied our applications for loan mods with them – saying we owe too much $. Now, with the late fees, our monthly payments are $1200/mo – which we cannot afford. We’ve tried paying the regular amount of $700, but they won’t take any payments less than the TOTAL amount owed and keep mailing them back. After 5 months of this mess, they served us with foreclosure papers. We are behind about $6,000 and have already spent an extra $4,000 just trying to save our home. Today, we hired a lawyer. Praying that we will be able to afford him and that he can help us.
Has anyone else had to deal with Ocwen?
We have had such trouble with TB&W since Aug 09 just like everyone else. Long story short, we are still paying TB&W and they are holding our $2700 in escrow hostage. I have spent countless hours on the phone trying to get this money. Does anyone have any suggestions or know what I should be doing? Is there an end in sight with this mess?
Kelly,
Who is your investor? Freddie Mac? Most loans have been transferred out of TBW by now (at least in my case).
I can give you contacts for Freddie if they are you investor.
no TBW, that’s a good question. I’ll find out and get back to you.
Does anyone have a real working number to contact TBW? I can’t get through to anything but voicemail. TBW is foreclosing on the house but I can’t reach anyone. It’s unclear if the loan has been officially transferred to another bank or not. The processor was Home America Mortgage. I know they were/are owned by TBW so I don’t know if that is valid anymore either. None of the Home America Mortgage numbers work either. Any help??
TBW is closed down and out of business. Don’t waste your time trying to contact them. Freddie Mac or Fannie Mae might be a better bet. If you happen to know to whom the loan was transferred, like for instance, CENLAR, contact them. CENLAR has been very good about getting this situation resolved. I just got word form them yesterday that the first/old loan has been paid off. I only have the refinance loan now with CENLAR.
Don’t give up! This issue will be cleared up…eventually.
Hi, we had TBW as our mortgage and 1 month’s payment is still being held in the court down there in Florida. I have been getting mail requesting our presence at a hearing that I will never make it to. Yesterday I just received a letter stating CLAIMS FOR WHICH DEBTORS ARE NOT LIABLE. This is RIDICULOUS! Our name is on the list with about 50 others saying insufficient info. I have not a clue but I ended up emailing a guy involved with the case to get some answers.
If you are a former TBW customer, don’t send TBW any more money. The bankruptcy judge has ordered that until this is resolved by your new mortgage servicer, any information (negative or positive) related to the TBW bankruptcy cannot be reported to the credit agencies. Hold your payments in escrow (your bank account) until you get a notice of assignment from the new servicer. Don’t pay anyone with out that notice of assignment.
Oh! Guess I have been posting this info in the wrong forum. There has been some movement on this case, I will re-post it here:
Taylor Bean Schedules Jan. 19 Confirmation Hearing
Taylor Bean & Whitaker Mortgage Corp., once the largest independent mortgage originator in the U.S., won court approval of the disclosure statement explaining the liquidating Chapter 11 plan.
The bankruptcy judge on Nov. 10 also set aside Jan. 19 for a hearing to confirm the plan. The judge will hold a hearing Nov. 19 to consider approving supplemental disclosure materials explaining a settlement with Wells Fargo Bank NA.
Supported by the official creditors’ committee, the plan will administer $322 million to $521 million. After paying claims with higher priority, between $264 million and $354 million will remain for unsecured creditors with claims totaling more than $8 billion, according to the disclosure statement.
The expected distribution to unsecured creditors is between 3.3 percent and 4.4 percent. The largest claim, $3.25 billion, belongs to the Federal Deposit Insurance Corp. The claim was settled and will be paid under the plan.
Taylor Bean filed under Chapter 11 in August 2009, three weeks after federal investigators searched the offices of the Ocala, Florida-based company. The day after the search, the Federal Housing Administration, Ginnie Mae and Freddie Mac barred the company from issuing new mortgages and terminated servicing rights.
Taylor Bean managed an $80 billion mortgage-servicing portfolio. Assets and debt both exceed $1 billion, the petition showed.
The case is Taylor Bean & Whitaker Mortgage Corp., 09- 07047, U.S. Bankruptcy Court, Middle District of Florida (Jacksonville).
WHEN YOU WROTE TO THE COURTS DID YOU GET ANY RESPONSE FROM THEM THEY ARE SAYING THAT I OWE FOR 20 MONTHS IN BACK PAYMENTS AND THATS NOT TRUE AND I’M STILL PAYING MY PAYMENTS EVERY MONTH I EVEN WHEN TO NACA AND THEY ARE NOT HELPING ME WITH THIS SO I DONE KNOW AND OTHER WAYS TO FIGHT WIITH BANK OF AMERICAN THEY THE ONES THAT HAVE MY LOAN NOW AND THEY ARE NOT LISTEN SO IF YOU HAVE A NUMBER ARE A ADDRESS THAT I CAN CONTRACT SOMEONE ABOUT THIS PROBLEM PLEASE SEND IT TO ME THANKS
I refinanced with them as well and am so lost. I don’t know who to turn to. My escrow had no money and my payments were set to double. My escrow funds from closing are missing and I still pay MIP monthly that money is missing from closing. Yet on the credit report it says my loan is a conventional loan. Who is helping the consumer?
More movement on this case. City of Ocala reimbursement info. There is a paragraph regarding the payout that reads:
“Because it is considered a Class 9 trade creditor — meaning it had nothing to do with the bankruptcy, as did some of the other unsecured creditors, such as the Federal Deposit Insurance Corporation and banks that were involved in TBW’s financial affairs — the city may be eligible for an additional small amount from the FDIC settlement.”
What exactly does this mean? Isn’t our escrow money insured by the FDIC? Are we getting back our money 100%?
http://www.ocala.com/article/2.....8;tc=yahoo
hey madeline
you seem to be the only one on this blog really keeping up with this. tbw owe me my escrow money and nothing yet. i have been given the run around with them then the new servicer and lawyers involved and so many others. do we have to submit paperwork for this or will our money be surrendered and put into our new servicers escrow account? please help
This post is close to my situation. TBW kept some of my escrow and they also owe us money (about $8000.00) from our construction loan. They said they mailed the check the Friday after they filed bankruptcy, which eventually they admitted that couldn’t happen. But they didn’t transfer the money with the loan, they still have it, of course. Also tbw pulled the money out of escrow on August 17th for our real estate taxes but never paid them. How could they pull the money after they filed bankruptcy? So Cenlar had to pay, but our payments went up $100.00/ mo. which we can’t afford, but at least they pd them. I am so glad our government bailed out Wallstreet, insurance co., GM, & banks, but screwed us average people to whom $100. is a lot of money! Who cares about us? Is there somewhere we should write to make sure we are on the list of people who someday when the money is released will get our money? I have called several times like others and have gotten no satisfaction. I am at least not getting foreclosure notices, poor people. I am now glad after reading these comments tbw didn’t get to our re-finance. Please let me know if there is a class action suit, papers i need to file, someone I need to notify or anything I need to do to protect our rights.
What’s the latest info anyone has on this crap? We still have no closure! It’s stupid b/c boa says we owe like $4338 thats past due. Interesting…that’s what we owed roughly when we first got behind with tbw when we decided to refinance.
It’s getting tougher and tougher to sleep at night and wonder if we will lose our home just b/c of dishonest dumbasses that chose to be fraudulent.
I have been going through the same ordeal as many of you please keep me informed on a possible class action suit.
Because it’s the only source of information for people like myself who has gotten burned. I frequent this often for updated information!!!
Mr. Bourassa: I am legal counsel to Freddie Mac and do not have access to information on loans which are owned by Bank of America. Let me direct you to Mike Tessitore who is counsel for Bank of America. His contact information is below. I hope this email is responsive to your request. If not, please let me know. Thanks, Soha
Michael A. Tessitore | Tessitore Law Firm
612 East Colonial Drive, Suite 150 | P.O. Box 2351 (32802) | Orlando, FL 32803
Phone & Fax: 407.304.8220 | Mobile: 407.948.3079 | mtessitore@tess-law.com
FYI….I’m trying to deal with this through this contact.
Sorry to hear people are still being screwed over by TBW.
We are out of the woods. Been paying monthly to a new mortgage company (Cenlar) since late November.
i am so upset and frustrated with this. its my money that was in escrow and i want it now!! can we call problem solvers on one of the news stations they have contacts and i think they can help.
I have emailed NBC, CBS, and ABC, I emailed Oprah & Ellen, I do this every few weeks to let them know what TB&W has done to me and so many more. I am still owed about $3200 from my escrow account and b/c of it my current mortgage company hasn’t had the funds for the property taxes & they keep raising my payment, @ TB&W it was $1500 and now it’s over $2500 – Can barely afford it!!! I don’t know what else to do and where to go!
We FINALLY got a notice from tbw and boa that showed the tbw account that was refinanced was closed and that our account was credited accordingly. However, b/c of all of the CRAP with TBW to begin with–and not knowing where our money would go…it goes back to the fact that our first payment that was suppose to be due Sept. 1,2009, was not mailed until December 09–B/C WE DIDNT KNOW WHAT TO DO SINCE TBW HAD BEEN SHUT DOWN.
So…now that they seem to be slowly getting their heads out…where does that leave us and the others who did the same thing we did and didn’t send those first few payments in? Im telling you, EVERY SINGLE PERSON THAT WAS AFFECTED BY TBW should be compensated in some way for all the stress, grief and heartache we have all put up with. If nothing else, then our ‘current’ home loans that boa has, that they took over from tbw, should be considered caught up and we should all be given a fresh start. Fresh start…amazing..those two words are what led us to refinance to begin with. And that was all thanks to the ‘stimulus’ offer that the president came up with. And here we are..no further head than we were before we refinanced. Back in the same freakin boat all b/c someone with TBW had their heads up their asses and got themselves shut down. We have put up with crap for way too long in all of this mess. TBW needs to be held accountable for what they did to so many people and their homes.
I am wondering after all this time if others are still having issues with BOA/TB&W. The months they got paid somehow seems to be in cyberspace and still wrapped up in government red tape. Has anyone started a class action suit? Please help me. Deb
I am and preparing to go to war. David v Goliath…
They ruined my credit after sending me letters to the contrary… I.E. they lied. Tis was over one month’s payment that I sent proof of three different ways on 7 different occassions. I just received a letter of apology saying my account has been credited and they are sorry for destroying my credit.
At this very moment I am irked big time. I sent a payment to BOA over two weeks ago and it has still not gone through my bank!!! Usually , its only a few days after I send it in that it goes through.
Interesting to say the least. While I know the entire US has been dealing with bad weather off and on for the last two weeks–it only has to go to Texas, so they should have gotten it by now.
How are you suppose to know if you are getting escrow money back from TBW??
I will say it till I can ‘t say it anymore–what are they going to do to make up for all the grief and heartache they have caused so many people?
I am still waiting on a refund Chec k for my escrow from taylor bean also. Has anyone received money from them? My note has been sold twice since then and my payment went up to recover from the shortage of escrow 300$ a month. Somebody needs to do something about this….I also had to pay my taxes and insurance out of pocket and haven’t been reimbursed. My new mortgage company Ocwen say they don’t know anything about Taylor bean or it’s customers, how is that possible? If anybody can help please let me know. Thanks
I sure hope you guys got reimbursed for your escrow. I was wondering if anyone had a suggestion as to who/what office I could call to see when my Aug. 2009 payment made to Taylor Bean and Whitaker was transferred to our current mortgage servicing company Ocwen.
I believe I have caught them adding it to our account, then subtracting it, and accusing we’ve been one month behind ever since. I have spent the last few weeks studying the various statements they have sent, and I believe I’m on to something.
If I weren’t living this nightmare, I would never believe it! SURELY… I’m hoping… for the love of God, you all got your money back.
And by the way, my escrow re-imbursement check which initially bounced is gone and BofA is saying they can’t do anything about it. Even though I sent them a copy of the actual bounced check.
I need to read all of the posts. I have been entangled in a major nightmare since August 2009. I made my regaular mortgage payment as always. Four or five days later I get a notice from Bank of America that they now had posession of my loan and payments should be made to them under an account number. I started doing so in Sept. 09. I received a late notice at the end of Sept. saying I was late. I immediately called to explain their error (Bank of America). The person on the phone told me it was most likely an issue with the setting up of t he BofA account and not worry. I made my October Payment and received another late notice. I again contacted BofA and provided them a copy of my online statement from my bank showing the payment. I was told everything was fine, not to worry and so on.
A week later I get a check from TBW for my escrow over payemnt whch we deposited and it promptly bounced and I was charged by my credit union for it.
The situation of the missing payment, which BofA said was amongst the millions frozen by the gov’t and they were aware of was the cause of the problem… Collection calls, and letters came almost every other day and continued. My mortgage statement showed me late every month and the fees kept acculumating. I sent Bof A the proof that the payment was made no fewer than six times to date.
After screaming and threatening the people on the phone at BofA, I got them to send me a letter saying this was their internal error, it was not my fault, that no action would be taken and they would not report me to the credit bureaus etc… I received the letter 04/29/10/. Not more than a week later, BofA reported me to the credit bureaus and my credit score went from 760 plummetting into the low 600s, my credit cards and credit lines were cut, interest rates were increased causinfg further damage. I allowed BofA to contact my bank directly and they said the problem was solved promised to repair my credit rating and contact my creditors to explain their error and assist me in regaining my credit lines.
Many of them declined to restore my accounts. Damage done. I am in business. The state in which I am licensed uses my personal credit rating to evaluate me and give me a rating, needless to say the credit reporting has affected that rating.
I continued to battle with BofA. In January I went into another battle. This time I was assured the problem was near resolution and the money from TBW was released but in a lump sum and BofA was trying to figure out where all the money was supposed to go. I was told not to worry that there would be no false reports to the credit bureaus, my account and this situation would be turned over to a specialist and I would be contacted within the week. What occured was BofA again reported me to the credit bureaus, and once again my credit lines got slashed and my interest rates which once were avg. of 8% are now hovering around 20%.
I am a wounded disabled paratrooper. While stationed in Afghanistan and later Germany, my mortgage was sold to BOA. Without my knowledge “TBW nor BOA deemed it necessary to inform me of this.” It gets MUCH BETTER! The Broker and under-writer for TBW who set up my mortgage didnt put full escrow on my FHA loan. <– Im a solder not a fianance major. So I didnt know it was a federal law to not have FULL ESCROW and INSURANCE under an FHA loan. Soooo….. BOA gets a hold of my loan and see's this and after a few months corrects TBW Fraudulent mistake there for jacking my "FIXED" mortgage UP several hundred dollars and keep in mind I had no clue BOA even took over my loan for several more months. So my payments went where??? + I thought my mortgage payments were the fixed payments. YOU CAN IMAGINE WHAT THIS HAS DONE TO MY CREDIT… Lets just say it was just below perfect and dropped way…….. below "BIG RISK." Any lawyers out there? What do I do?
I’m in same boat, back in sept.09 BOA said to send them bank statement showing I made the payment. I faxed it to them twice and I called too many times. They never called me back. Then when I heard TBW won their case, I called BOA again, they told me, they (TBW) were sending out payments in spring last year, still I got nothing.
Well, as a former TBW client, I can at least say that I have not experienced any of the dreadful problems most other have posted. My mortgage was originated by HMS Capital (also out of business) and quickly transferred for servicing to TBW in early 2008. Fortunately, my loan does not require an impound account for taxes or insurance — I pay those myself.
But I have been caught up in the bursting of the real estate bubble, and I cannot find an answer to my dilemma. We borrowed for the purpose of doing a major home remodel. Our intent was to refinance once construction was complete, figuring that the increased value would allow us to obtain a lower interest rate or shorter term financing at about the same monthly cost. By the time we completed construction in late 2008, the bubble had burst and our home appraised for less than the outstanding mortgage balance (mostly because there are no comparable properties, given the nature of the upgrades we have made.)
Then the rest of the financial sector melt-down occurred, sweeping TBW into the abyss. My condolences to those who are stuck with BofA. I was fortunate to have been transferred to Cenlar, and did not miss a payment because I pay online, and discovered the TBW problem at the same time it was occurring — I could not get online to post a payment, and was able to get a phone call in to TBW and learn that Cenlar would be servicing my loan.
Cenlar has been OK. They are neither charging late fees nor reporting late payments to any credit bureaus. But they are also clueless when it comes to loan modifications. “We don’t do those. We only service loans,” is what I have been told on two different occasions. “You need to discuss that with your lender.”
And that’s my problem. As far as I can tell, I have no lender to discuss this with. I don’t know who gets the money I pay to Cenlar. I don’t know if Cenlar would even know if I stopped making my mortgage payments, let alone anyone else.
With all the <4% mortgage financing offers floating around these days, it would be great to get one. But with a property value of $350,000 and a mortgage balance of $355,000, I'm not a candidate — obviously not even close to the required 80% LTV at 101%. But I cannot even turn to anyone to see about getting a reduction of principal, or an offer to refinance at anything less than the 6.5% I have.
Does anyone know who I would turn to to discuss/negotiate this?? Cenlar is no help.
I went thru the same mess with TBW never recieved a letter saying BOA was now my mortage holder until I got a letter saying I was two months behind which is strange to me because I am retired military and it gets deducted from my pension every month. I called BOA asked if they got the wrong person they told me TBW is no longer in business and n ot to worry my credit score is not affected because of TBW and they are not reporting it as late. To my surprise I was told I cannot make a change to have the money deducted and sent over to BOA because of the TBW investigation. So every month I had to call and make a phone payment costing me 20.00 per month this started in Sep 09. I was told by BOA they are not able to stop letters and phone calls because the VA told them they have to do this by law. This went on till Nov 10 when the customer service rep told me BOA has recieved funds and my two payments would be coming in 30 days. What came in was a forclosure letter instead so I had to pay the two payments plus current plus fees total 7630 this was paid when Im confirmed they recieved the money via Western Union which they wanted it done by I was told they recieved two past payments. So now they tell me my next payment is not till 07/11. I dont trust them and armed and ready with an attorney I never played the race card but this might be the only option I have. If anybody knows if there is a class action lawsuit I want in and can help out for fees. God bless all of you who have gone thru this.
I was just wondering if anyone has heard how long C.E.N.L.A.R. will be not charging late fees or reporting to creditors. I am late one month with them which was Oct. 09. I never received a payment coupon but i did receive a letter that month. Dumb me took that as a put to the back of the loan letter. I know they are still not reporting or charging late fees for now but i need to know. When i talk to them they don’t care all they do is take the payment and good bye. So any help is greatly appreciated
I just found this site. I can not believe how many people TBW has screwed over including myself. Know of my paperwork was processed correctly so I can not refi thru a different company other than BOA. Anybody else have this problem and if so did you get it corrected and how?
I’M STILL FIGHT AGAINST BOA SAYING THAT I’M 21 MONTHS BEHIND BUT THEY ARE STILL TAKEN MY PAYMENTS EVERY MONTH CALL HUD TO TALK TO THEM AND WHEN TO NACA THE ONLY THING THEY ARE STAYING IS DO A SHORT SALE OR FORCLOSER BUT I TALK TO SOME ONE THAT TOLD ME THAT I COULD DO A CHAPTER13 ON THE BACK PAYMENTS AND THAT WILL FIXED THAT PROBLEM BUT WHY SHOULD I PAY ALL THAT BACK WHEN I DON’T OWE IT I’M NOW WAIT ON THE BOA TO SEND ME A COPY OF ALL THE PAYMENTS THAT THEY HAVE AND THEN I WILL GO THOUGH A LAWYER TO SEE WHATS MY OPION. BUT IF ANYONE OUT THERE CANT HELP ME PLEASE DO. SOME OF THE LAWYER FIRMS ARE ASKING FOR A ARM AND LEG FOR THEIR SERVICES FOR THE LAST TWO YEARS HAVE BEEN REAL PAINFUL
Two years ago, I refinanced my TB&W loan just a couple months before their fraud was exposed. While my loan was being refinanced, an electronic payment was applied to my paid off loan as I forgot to stop the electronic payment. So, an extra $850.00 is sitting somewhere within the bowels of TB&W, Cenlar, FDIC, OCC, BofA, et al. I was instructed by Cenlar to send supporting documentation of the overpayment. I faxed it to them in July of last year and then again in August. To this date, the documentation has never been acknowledged by anyone.
Today I called “Customer Service” at Cenlar to followup after 8 months of no news. The Customer Rep told me that because my $850 overpayment concerned the refinanced loan that she thought I had to contact FDIC and the Bankruptcy Trustee about my refund. When I asked her for contact information she said she would check with someone else and get back to me. After a 10 minute wait on the phone I finally hung up.
Does anyone have access to a Bankruptcy Claim form that they would be willing to email to me? I would appreciate it. Oh, by the way, I sold the house in question in May of 2010. So, I do not have to deal with these incompetent idiots any longer. Just want my $850 returned!!!
Your situation is exactly what happened to me. I paid a mortgage payment for August of 2009 at the same time that I refinanced my mortgage and was supposed to get a refund of approximately 2K since my Aug payment was included in the payoff. Instead of the refund, I got hit with another mortgage from B of A and the threat of foreclosure, even though I was now paying a mortgage to Met Life Home Loans. It took close to a year before I was able to clean that mess up by getting a judge to tell B of A to back off. B of A didn’t leave me alone completely until they received the payoff from TBW which was in a frozen account for close to a year. So would you have any information on how I can track this refund payment down? I’d appreciate any info you might have.
I have been reading all of these posts and it just makes me sick. I am a former employee for TBW and my mortgage was also with them. Our loan was transferred to Cenlar, who would not do anything and then lied about the loan mod’s. As I explained to the oh so helpful Cenlar person on the phone, what they were telling me was incorrect as I have been an underwriter in the mortgage industry for over 20 years. They quickly changed their tune. They couldnt help me because the only thing they could do was service the loan- which basically means- they are a payment processing center. From the research I was able to find, Cenlar is where all the current paying conventional loans went and BOA is where all the Gov’t loans went. Not sure but thats what I could find out. They said they would try to help and for me to send in all the paperwork for the modification, we did that, they claimed they never got it, even though I had proof that they got it, then they stated that it must have gotten lost somewhere in their office, blah, blah, blah… I was pisssed! The only thing I could do at this point was to stop paying. It really sucks that the only thing that can get you help is to quit paying them. I was told that it was the only way that we could get help. This was hard for us because first of all I have lost my job, secound i’m trying to look for a new job and we are talking about trashing my credit, which will keep me from getting a job in the banking industry! I have been working in a banking industry for over 35 years and like I said an underwriter for over 20 years, our credit is typically pulled as well as a background check prior to a employment offer, this is done for compliance issues. What this really means in a nut shell is: can this person be trusted, do they that care of there own debts a credit report does tell you the type of person you are based on what is listed. With this being said, If you want a job in this industry you must take care of your own personal business. They (banks/lenders) usually do not want the risk of someone that has crappy credit because they think that it can lead to fraudulent issues ie: kickbacks, pushing loans through, sloppy verifications,…. It is no different than 3rd party paper(family to family) or someone who has a vested interest in the loan going through. So with this long winded post, I stoped paying my loan because I still did not have a job. After a few months of not making payments the loan was finally transfered to an actual “lender” Ocwen- not the most helpful at the time- but at least they can do a loan modification. They tried to use a lot of mortgage lingo-(I knew what they were talking about) however for the regular consumer- It can be a nightmare. After a painful few more months, the modification was approved. They (lender/freddie-mac) extended the term, lowered the rate, which “really” made the payment lower, but they did the math- If I was willing to stay in the home even though we are upside down, it was in their best interest to do something because they didnt want another house that was going to be forclosed on, and we have no problem at this point as a means to protect ourselves filing a BK. As a homeowner I was not going to just let the house go unless they wouldnt do a modification. I hate to say it, but we were at the point that if they wouldnt do it they could keep the house and stick it up where the sun doesnt shine.
I hear what you have all been saying it does suck for you and for the ex-employees who also didnt get paid for their work, didnt get the earned vacation time and our health insurance was cancelled 2 weeks before and no one knew it,. Yes it sucks for all of us involved. Just keep trying to get it resolved.
Just remember:
The people that caused this are getting what they deserve. Karma is a _itch!!!
THIS IS SO SAD.I CAN’T BELIEVE WHAT IS REALLY HAPPENING HERE.I HAVE TRIED TO GET A MODIFICATION THRU BOA AND TODAY THEY TURNED ME DOWN.JUST SITTING HERE TRYING TO FIGURE OUT WHAT I NEED TO DO NEXT….SO SO CONFUSED AND WORRIED!!!
THANKS TO TAYLOR,BEAN,WHITAKER..THIS WHOLE MESS HAS REALLY CAUSED ALOT OF PEOPLE HEARTACHE/PAIN,AND IN SOME INSTANCES…MENTAL PROBLEMS WORRIED IF U R GOING TO LOOSE UR HOME HOME DUE TO THIS ROTTEN ASSES GREEDINESS!!!
I like so may others have had the run around with BofA. I recently talked to 3 people at BofA who gave me different stories, not one could figure out what was going on? Seems to be the case in every situation.. What I did find out is that BofA was accepting payments on the account but taking double the amount for the escrow account, making up for what was not forwarded by TBW leaving most everyone 2 months if not more behind. It’s an Unfair busness practice! I call evrey month to complain but get the same ol’e story (were very sorry) would you like to make a payment today? kiss mine! I had residual money in my account that no one ever told me about, This money was sitting there and not being used towards any future payment, Now you have late payments and Fee’s. Most every one is not behind in payment if BofA would look at the records? An Audit team was supposed have this researched and taken care of before BofA ever started to service these loans, Guess they used TBW auditors? Our Great Government Is who created this situation and I feel anyone who had an account with TBW should be forgiven since it was there actions that has brought us here! Yes, Greed got them into Trouble but We shouln’t have to pay the price for others actions!
BofA is still under investigation for their Handling of these issues as well as loan practice’s and were on the verg of being shut down themselves. (I’m all for It)
FHA does have a complaint form, which may or may not do any good at this point? Just keep the Complaints going!
Is there anyone who has gotten closure with all of this crap with taylor bean and whitaker AND BOA?????
My family is in the same situations. We received an escrow check for $1028.05, from TBW and it bounced! Leaving our checking account over drawn and now we owe money to US Bank which just keeps growing and growing. My family had no money at all for 2 weeks, until my husband and I got pay checks, and then we had to open a new bank account. Now BofA is threatening foreclosure saying we are 2 payments behind, we have NEVER missed a mortgage payment! I like all of you don’t know what to do.. I waiver between angry and sad, our credit is horrible right now, mortgage shows behind, us bank account horribly overdrawn, and why because we pay our mortgage payment every month and on time! Thank you TBW of putting the icing on the American dream for my family!
the situation i am in is totally different than all of yours. i am dealing with a fraudulent loan and supposedly B of A has taken over my Debt. There is a lawsuit against them for purchasing fraudulent loans and have already lost in several states. is ANYONE having the same issue and what r u doing to resolve it?we are trying to get the loan documents from them and they can NOT provide them to me. what do i do?
Hi, I was just wondering, has anyone ever received any money back from TBW? We had automatic payments to them while my husband was deployed and were never notified that our mortgage lender was changing to B of A. We have 3 months of mortgage payments that they accepted but were never applied to our mortgage, plus obviously we lost the money in our escrow acct. I just don’t even know who to contact or get any information from, unfortunately B of A continues to keep us in default because technically we’re 3 months behind since TBW accepted those funds… are we ever gonna see that money?
Has anyone that filed a claim against TBW received a W9 from BMC group? I got something that says I have to fill out a W9 to receive my share if any and return it by sept 30.
I received a w-9 yesterday from bmc group. I am trying to understand all the lingo. So, we probably wont get what is owed to us but might get a portion? Is that right? and do we know what was approved yet????
I can’t understand all the lingo either. I actually did get my money from BOA. But they keep sending me this stuff. I do feel like I should get something though still because of all the STRESS that they caused and the 300 dollar increase in monthly payments, etc. but I don’t know if it is legal. I did file the claim though when I thought there was no hope of ever getting my money back. I think if we get anything it will be small.
did anyone recieve a letter from an attorney from arizona saying that you had to be out by a certain date? if so who is this attorney and why them instead of an answer on a loan modification.
After much hand wringing, just sort of discovered that we have been are paying DOUBLE the escrow we should. Still no escrow refund for TB&W.
Going to take BoA to task. Crooks
Anyone know of an Oregon class Action suit?
i would like to know what to do also my husband and i were sold to cenlar what a nite mare they want extra 280. a month for escrow thats not there from taylor bean and whitaker is there a class action law suite or any recourse help
Judy, my husband and I are also in a night mare with cenlar and were with TBW before they went down!! They are trying to tell us that we are short two payments for that august and september before the takeover!! We do not know who to talk to and are ready to cry with frustration!! Does anyone know who we can talk to besides a bunch of Idiots from cenlar!! We are about to lose all our hair over this and are faithful mortgage payers!! We have not missed one payment!!! HELP!!!
We are also owed escrow $$ from TBW – sent in the W-9 because I was advised it was just for TBW to prove to the IRS who they paid what to and that it would not affect us – not so sure – I’m still afraid of being taxed on $$ we were already taxed on!!! As my husband keeps saying – this is OUR $$ – not theirs and the financial problems it has caused is ongoing. We had re-financed and unbeknown to us – it was right before TBW closed. TBW had sent our County taxes in – but a month or so latrer we rec’d a late notice! After some calls we found out that the check that was sent bounced! Now we had to come up with just about $5,000 that we don’t have to pay the taxes that we had put into escrow – trusiting our mortgage company! I just keep praying that we see the $$ soon – I’m tired of living month to month because of having to come up with an extra $5,000 in 2009!!! Has anyone gotten any kind of payment???
Alicia,
Don’t know if this goes to your e-mail address or not but I have calls into Cenlar and due to high call volume and system failure (wonder why) they had to take my name and will call back. When or if I hear back I better get some satisfaction. I can almost bet no way and if that’s the case I am going to the Attorney General’s consumer protection division to file a complaint. Then the Better Bussiness Bureau. I am Pi_ _ ed now.
OK folks here is a new twist. Several months ago Cenlar (bought TB) told us we were late on our Aug. payment which was in TB’s account had canceled check and all other proof. Took several months (till May) to get it straight. Then Cenlar issued us a corrected 1099 for the interest after we had filled our taxes!! Now this October, 10/10/11 statement they are going after us for the same payment they said we made and sent the corrected 1099 for. I am ready for all of us to jump on the CLASS ACTION law suit against all these companys and work to get some satisfation for the home owner.
lost home to tbw when husband passed away. tbw would not let me make the payments for the home. home was foreclosed. deed for home was under my name. can I do anything about this???
Does anyone realize that even though BOA took over the loans and are taking payments that None of us have any paperwork with our signatures confirming a business relationship with BOA. I dont. Its even hard to believe that after TBW screwed the pooch that BOA even has the right paperwork or deeds for the properties. I am supposed to have a 16 day grace period for our mortgage and there has always been a day or two delay for the online payments but BOA still called us 3 times a day starting on the due date. Its harassment and BOA is nothing but a debt collector and I dont have a contract with them. Do you?
You do have a contract with them. Mortgages are bought and sold all the times without the owner having to sign more papers. Mine has been sold twice in 3 years already. I still owe the money for my house, I’m not expecting it for free. But I do hate BOA too, that is why we refinanced.
Why don’t you remove this instead of letting it hang in limbo? I’m not sure I understand why but it’s your blog so your choice.