Recently had the misfortune of having a closing that didn’t close because the lender did not fund the loan after all the documents had been signed by the buyer. Taylor Bean & Whitacker was the lender and the day of the closing was banned from making any Fha loans not to long after that Taylor Bean ceased operations and closed down their doors leaving my client along with many others high and dry.
The closing was extended several times because of the lender and was a very stressful experience for my buyer who did everything she was suppose to and handle everything in a graceful manner a lot better than I would have. I can’t even imagine her emotions thinking you have a home after signing the documents and the next day finding out the home never funded and the home was not going to be hers.
She was leaving the next day going out of the country so she decided to put everything on hold until she comes back. I hope we are able to get this home for her with another lender because she so deserves it. This is a first for us in Real Estate where we had a closing that didn’t fund I can almost say I have seen it all but I am sure there are a lot wackier things in today’s Real Estate market we have yet to discover.