Drummond Mortgage

Donna Paules _{on ChamberofCommerce.com}

Feb 8th, 2023

We closed on a construction loan with Drummond in March of 2022 for a house that was to be built by First Choice Home Builders. The loan was closed 5 months before the permit package was obtained. The builder did nothing to commence construction in 16 months when home was to be COMPLETED in 16 months. Their situation is well-known by the bank. We had to terminate the builder. However, Drummond will do nothing to pursue him for the $62,000 he received for lot and initial 10%, despite the fact that he has done nothing. The bank claims they don't get involved in litigation. I find that ironic, since I'm sure they'll get involved in litigation if we default on the loan. What a load of crap.