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firebird1999us · Joined: 15 Aug 2009 Posts: 1 2.02 Dollars($)

They were taken over by the feds on like August 5, realesed the vast majority of their staff and ceased to exist as a mortgage company not long after, and are now apparently on the verge of bankruptcy:

"tampabay.com/news/business/banking/article1026452.ece"

Apparently Bank of America is taking over a good portion of the loans and here's what I've been able to find out about that:

"tampabay.com/news/business/banking/bank-of-america-to-taylor-bean-amp -whitaker-customers-dont-worry-about/1027738"

I made my August payment on July 31st so I managed to get that in before the collapse...I called BOA today (saturday) but was told to call the mortgage department tomorrow at 1-800-669-6607 for further information. A lot of people have been saying that TBW has nobody to answer the phone and it just rings endlessly.

Anyways my interest in this isn't so much making my mortgage payment which I expect will eventually be sorted out...my concern is my escrow account for taxes and insurance? I'm expecting the worst...that being: am I going to totally lose all my escrow contributions if they file bankruptcy? Do they actually hold the escrow money or is the escrow holder a seperate entitiy??

I'm going to get in touch with the county tax office and my insurance company on Monday as well as BOA...but in the meantime I'm kind of stuck since apparently nothing anywhere is open on the weekends except where I work Rolling Eyes

[Links deactivated as per forum rules. Thanks.]

smithsussane · Posted: Sun Aug 16, 2009 10:55 pm Post subject:

Hi firebird!

Welcome to forums!

An escrow account is created by your lender in your name so that he can deposit your property taxes and insurance premiums. This has nothing to do with your lender filing bankruptcy. You won't lose your escrow contributions. However, as your servicer has changed from Taylor, Bean, and Whitaker to Bank of America, you should contact them and keep in touch with them.

Feel free to ask if you've further queries.

Sussane

Guest

I was laid off in November and then put on permanent disability a week later. While waiting for my SS I had no income for five months - I got behind on my mortgage payments. I have been trying to contact TBW regarding my mortgage since January. When I did get an answer, they told me that someone would call me back - I am still waiting.

In June, I received a "summons for foreclosure", I answered the summons with the court here in Tulsa and have again tried to contact them with no success. I understand that a third-party is handling their "mitigation's" - Sparta Servicing Company - I have contacted them and got the same response, someone will call you. I hadn't heard about their financial problems, last week I sent emails to the U.S. Treasury, my congressman, senators and representatives explaining the TBW was not making a "good faith effort" to work with me. I haven't heard anything.

I have contacted the local attorney that handled the "summons for foreclosure" - my house is suppose to be on the Sheriff's sale - September 24.

I don't know what to do????????????

jameshogg · Posted: Mon Aug 17, 2009 8:37 pm Post subject:

Hi dhollingshead,

As far as I know, most of the loans of Taylor, Bean and Whitaker have been purchased by Bank of America as there's a possibility that they would declare bankruptcy. You can contact BofA and check if they have purchased your loan. You can negotiate with them and try to stop the foreclosure sale.

Thanks

bensonclive · Joined: 16 Aug 2009 Posts: 90 -0.12 Dollars($)

I hope you have tried your all available resources but have you tried sending the hardship letter to OC.
All the collection agencies will not take it so positively,So I will just advice you to approach the court whenever they ask you to be present over there and just explain your conditiopn to court. do not loose hope.

Guest

Can someone help,TB&W is gone Platinum Bank is closed
I have an open repair escrow that is apart of my loan that I am repaying but did not receive.

gmakerley · Posted: Wed Nov 18, 2009 10:08 am Post subject:

ahmsi has also taken over much of the former tbw portfolio. anyone looking for a current servicer would do well to try to contact ahmsi.

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Anyone else have a mortgage with Taylor, Bean, and Whitaker?