A couple of days ago, the news in the mortgage industry was the beat down Taylor, Bean & Whitaker was getting. Since that post, I’ve contacted a few past clients and friends who have used TBW to secure their mortgages, and everyone wants to know …
“What happens to my mortgage now?”
First things first, you’ll still have to pay it.
But more importantly, WHERE do you pay it?
For the time being, keep making your payments direct to the same address you’d been making them to, and keep copies of those payments. Eventually, you’ll be contacted and told where to send payments going forward, but for now don’t just stop paying because it’ll ding your credit.
And remember, if you are anywhere in the loan process with Taylor, Bean & Whitaker other than Closed and Funded (i.e. you have the keys to your home and have made at least one mortgage payment), you are going to have to find a new FHA loan. I’m sorry about that.
Any questions?
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