According to Reuters, Taylor, Bean and Whitaker (TBW) has filled for bankruptcy protection under Chapter 11 of the bankruptcy code. If you ready a a previous post of mine, you will find that the company had been shut down by HUD after irregularities in their reporting procedures and concerns of fraud.
As one of TBW’s clients, I was especially interested in what to do with my payment and have been getting calls and e-mails from people across the US with similar questions. In my call to TBW, I was told that Bank of America would be servicing my loan but that Wells Fargo would also have some of the current customers. Bank of America advised me to hold my payment until I heard from them.
Everyone should make their own decisions about this, but the article from Reuters says that TBW is not able to access their accounts and process payments, so I think that there are interesting things to be done in the future. Please let me know what you are experiencing and I will share it on my blog. As always, if you have questions, please call 541-342-7576/541-221-3455 Cell or e-mail.