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Category: Debt

Legal Judgments – Can They Be Negotiated

Posted on August 29, 2018April 21, 2022 by g83js92js91
Categories: attorney, Business Law & Contracts, Business Law Disputes, Collections, Credit, Debt, foreclosure, Foreclosures amp; Mortgage Loan Relief, Jason A McGrath, judgment, Judgments, lawsuit
pen marker hand the hand legal judgement

In this video attorney Jason McGrath discusses some options when negotiating legal judgments between opposing parties in a lawsuit.

https://youtu.be/JruiKGTNbts


If you are in need of legal assistance with a Legal Judgment in North Carolina, South Carolina, Tennessee, Georgia or Florida please fill out our confidential client intake form.

Posted in attorney, Business Law & Contracts, Business Law Disputes, Collections, Credit, Debt, foreclosure, Foreclosures amp; Mortgage Loan Relief, Jason A McGrath, judgment, Judgments, lawsuit

Mediation

Posted on July 20, 2018April 21, 2022 by g83js92js91
Categories: Business Law & Contracts, Business Law Disputes, Collections, Credit, Debt, Jason A McGrath, lawsuit, Litigation, mediation, North Carolina
pen marker hand the hand mediation works

Whether mediation is court ordered, required by some prior contract/agreement, or occurs as a result of parties to a lawsuit agreeing to mediate, mediation is often an excellent opportunity to resolve a lawsuit. In his 19 years as trial lawyer, Jason McGrath has mediated many cases and in this video he explains how mediation works.

Click the link to view this video on YoutTube:
https://youtu.be/TiNYEiqgB4Y

 

If you are facing a lawsuit in North Carolina please fill out our confidential client intake form for legal assistance.

 

Posted in Business Law & Contracts, Business Law Disputes, Collections, Credit, Debt, Jason A McGrath, lawsuit, Litigation, mediation, North Carolina

Post-Foreclosure Deficiency Judgments in NC

Posted on September 18, 2015May 2, 2022 by g83js92js91
Categories: Collections, Credit, creditor, Debt, deficiency judgments, Foreclosures amp; Mortgage Loan Relief, Jason A McGrath, Judgments, lawsuits, lender, loan note holder, loan servicer, McGrath amp; Spielberger
Because of his extensive work in the area of foreclosures and post-foreclosure lawsuits, Attorney Jason McGrath is frequently asked about whether a foreclosing party/creditor (such as the lender, loan note holder, etc.) will be able to collect money from the borrowers after foreclosure occurs. In this video, which is specifically geared toward such circumstances in North Carolina, Mr. McGrath explains how a recent court decision may impact post-foreclosure deficiency judgment lawsuits in North Carolina.

https://youtu.be/xL-vJ3n7BYw

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Posted in Collections, Credit, creditor, Debt, deficiency judgments, Foreclosures amp; Mortgage Loan Relief, Jason A McGrath, Judgments, lawsuits, lender, loan note holder, loan servicer, McGrath amp; Spielberger

Summary Judgment

Posted on August 24, 2015April 25, 2022 by g83js92js91
Categories: attorney, Business Law & Contracts, Business Law Disputes, Collections, Credit, Debt, Jason A McGrath, Litigation, McGrath amp; Spielberger, motions, North Carolina, small business, summary judgement
Motions for summary judgment can result in a case being immediately won or lost, and thus are incredibly important. Attorney Jason McGrath explains motions for summary judgment and summary judgments themselves based on his 19 years of experience as a trial attorney.

https://youtu.be/3sqK5FJes7o

If you are facing a lawsuit in North Carolina please fill out our confidential client intake form for legal assistance.

Posted in attorney, Business Law & Contracts, Business Law Disputes, Collections, Credit, Debt, Jason A McGrath, Litigation, McGrath amp; Spielberger, motions, North Carolina, small business, summary judgement

Jason McGrath Quoted in Story About NASCAR Hall of Fame Loans

Posted on March 15, 2015May 2, 2022 by g83js92js91
Categories: Charlotte, charlotte city council, Collections, Credit, Debt, Jason A McGrath, Jason McGrath News / Media, Life and the Law, loan, NASCAR Hall of Fame
City Lab, a division of The Atlantic, Jan 12, 2015 – Yet, as highlighted by a recent Charlotte Observer editorial, the project’s … Jason McGrath, a Charlotte attorney experienced in real-estate … (full story linked and pasted below)

Investing in NASCAR: What Could Go Wrong?

SAM STURGIS  JAN 12, 2015

⬧

Charlotte’s NASCAR Hall of Fame crashed hard. As the city preps for an $18 million debt-forgiveness vote, homeowners wonder where their bailouts are.

NASCAR-Hall-1
A beautiful disaster. (Flickr/Daniel Lobo)

We just rang in 2015, but the city of Charlotte, North Carolina, would love to see the calendar flipped back to 2005.

That was the year NASCAR cemented its position as one of the United States’ most popular sports. Fortune magazine drooled over the racing juggernaut a decade ago, proudly declaring NASCAR “the fastest-growing, best-run sports business in America—with the emphasis on businesses.”

But the financial viability of NASCAR has crashed in recent years amid plummeting race attendance and growing disinterest in car racing among Americans. And nothing symbolizes the sport’s tragic decline more than its Hall of Fame, which broke ground with great expectations in 2007 and officially opened in 2010—and is now hemorrhaging money for the city of Charlotte.

Monday night, Charlotte’s city council is expected to pass a loan-forgiveness deal that will eliminate nearly $18 million in debt the city owes on the NASCAR Hall of Fame. Opening the glitzy development cost the city $200 million, but the project was viewed as a crucial job creator for downtown Charlotte, undergoing noticeable revival. Today, to call the NASCAR Hall of Fame a financial disaster would be an understatement.

NASCAR-Hall-2
The NASCAR Hall of Fame, under construction in 2007, features a 278-seat theater, meeting halls, and a cafe. (Flickr/James Willamor)

Early projections had the city-owned Hall of Fame pulling in revenues of up to $1 million annually. Instead, according to Sporting News, the venue has lost over $5 million since opening. Attendance is abysmal. Developers expected at least 400,000 visitors annually, with the potential to attract up to 800,000. Over the past five years, however, only about 170,000 NASCAR fans have visited the venue each year, or 470 per day. One official representing the NASCAR Hall of Fame acknowledges some financial projections have not been met, but insists, “the Hall is doing well.” Tom Murray, CEO of the Charlotte Regional Visitors Authority, which overseas large city-owned assets, says the NASCAR Hall of Fame will earn money or break even if the debt deal is agreed upon.

City officials are framing today’s debt deal as a “restructuring” rather than a bailout. Yet, as highlighted by a recent Charlotte Observer editorial, the project’s downfall can’t really be spun:

It doesn’t camouflage that the Hall of Fame couldn’t survive on its own. It doesn’t change the fact that the city, when it bid for the hall, miscalculated everything from attendance projections to the arc of NASCAR’s popularity.

The failure of the deal becomes even more clear as cities struggle to pull out of the Great Recession. Charlotte was spared the crippling housing crisis that hit cities like Detroit and Las Vegas. Still, North Carolina’s largest metro was hit hard, according to the Brookings Institution. Single-family properties financed with a mortgage lost 23 percent of their value during the recession and, despite a marginal recovery, are still nowhere near pre-recession rates.

NASCAR-Hall_housing-prices
(Brookings)

Jason McGrath, a Charlotte attorney experienced in real-estate litigation, says the community’s support for the debt-forgiveness deal is “mixed.” Given how badly the venue has underdelivered, taxpayers naturally balk at wiping its financial slate clean so easily. However, McGrath says, residents know they are likely to benefit, at least indirectly, if the city’s debt toward the project is written off. (McGrath chairs a civil service committee for the city, but spoke to CityLab from the perspective as an independent lawyer).

“Of course, the folks that are facing foreclosure and have not been able to get help are looking at this and likely thinking to themselves, ‘Well, here we go again,’ where it’s always the big fish that seem to get the big breaks,” McGrath says.

Nearly 16,000 foreclosed properties in Charlotte are either for sale or auction, according to RealyTrac, an online housing database. Would the $18 million being written off for the NASCAR Hall of Fame have better served residential properties currently underwater?

⬧
Posted in Charlotte, charlotte city council, Collections, Credit, Debt, Jason A McGrath, Jason McGrath News / Media, Life and the Law, loan, NASCAR Hall of Fame

We’ve heard of Fannie Mae; what, exactly, is it?

Posted on December 23, 2011 by g83js92js91
Categories: Collections, Credit, Debt, florida, georgia, Government, homeowner, Life and the Law, loan, mortgage, North Carolina, Ohio, south carolina, Tennessee
Fannie Mae was created by the United States Congress in 1938 to support liquidity, stability, and affordability in the secondary mortgage market, where existing mortgage-related assets are purchased and sold. Fannie Mae itself has stated that it has “a mission to expand affordable housing”.

Fannie Mae does not originate loans or lend money directly to consumers in the primary mortgage market because Federal law prevents it from doing so. However, it does purchase mortgage loans and mortgage-related securities. In other words, while you can’t get a loan from Fannie Mae, Fannie Mae might end up owning your mortgage loan.

Fannie Mae also often securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (called Fannie Mae MBS)  and makes other investments which are intended to increase the supply of affordable housing.

McGrath & Spielberger, PLLC provides assistance to borrowers in need of mortgage relief services, such as mortgage loan modification, foreclosure negotiation, refinancing, and deed-in-lieu or other negotiated settlement resolutions. These professional services may include dealing with mortgage loans owned or securitized by Fannie Mae.

Foreclosure Charlotte NC – Real Estate Charlotte NC – Contracts Mt Pleasant SC
Posted in Collections, Credit, Debt, florida, georgia, Government, homeowner, Life and the Law, loan, mortgage, North Carolina, Ohio, south carolina, Tennessee

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