Wednesday, August 5, 2009

A possibly fatal blow...

So, Taylor, Bean and Whitaker, the mortgage company that was supposed to be funding our loan, has been forced to cease all loan origination effective today. They apparently got into trouble for fraud or something, and are in big trouble. Our mortgage broker tells us that his contact at the DCA is going to send over a list of new lenders for us to look at, and our down payment assistance funds are still reserved, but we are back to square one on our mortgage. And our broker apparently can't help with the new loan, so he's out of the picture once we get a new lender set up, and he's not going to end up getting paid for all of the time and effort he's put into this. Oddly, my boss has been trying to refinance her house for four months, and finally closed last Friday, but they were supposed to be with Taylor, Bean and Whitaker, too, and now they are having to start over, too.

Justin and I have to talk about things. We are at a loss. We've got to regroup and figure out what our next step will be.

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