Issues with lender on retrieving escrowed rehab funds

[Alex Grullon]

Hey everyone, I've been having issues with my hard money lender in completing the draw funds on my rehab loan it's been over 3 weeks since I've been able to collect funds from my inspection that was completed and also now setting up the inspection for the draw request has been ignored since last Friday. Wanted to know what I can do. Thank you in advance this company should be out of business they never pick up there phone and hardly ever respond to emails or text messages. This has been a first for me ever dealing with something like this.

[Wayne Brooks]

Quote from @Alex Grullon:

Quote from @Greg Scott:

Put the next monthly payment into a separate bank account ("escrow account") instead of paying them.  Let them know you will be doing since they are holding on to your money.

Okay, even if our contract states they can take over the property if the payments are neglected past 30 days

 
These guys sound shaky.  No matter what your note/loan agreement says, they can’t “take over the property in 30 days”….state foreclosure proceedings can not be circumvented, regardless of what’s in your agreement.