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Category: Mortgage Loan Modification

North Carolina Mortgage Foreclosure Process – Lost Loan Notes

Posted on January 24, 2019May 2, 2022 by g83js92js91
pen-marker-hand-the-hand_lost-loan-notes

In this video, focusing on the North Carolina foreclosure process, attorney Jason McGrath discusses how a lost loan note can affect a foreclosure proceeding.

It is important to note that foreclosures can vary greatly depending on the smallest detail. An experienced real estate contract lawyer in Charlotte NC should be able to access your particular situation and guide you toward the best possible resolution.

If you are facing a foreclosure situation in North Carolina, please fill out our confidential client intake form for legal assistance. We have staff available to assist with real estate and mortgage matters in Tennessee, North Carolina, South Carolina, Georgia, Florida, and even Ohio.

Posted in borrower, Deed in Lieu, foreclosure, Foreclosures & Mortgage Loan Relief, Jason A McGrath, loan note, lost note, mortgage, Mortgage Loan Modification, North Carolina

Servicemembers’ Civil Relief Act and Foreclosures

Posted on April 8, 2015April 19, 2022 by g83js92js91
In this video, Attorney Jason McGrath of McGrath & Spielberger discusses how members of the US Armed Forces may have some specific protections and rights in relation to foreclosures and related court proceedings. Mr. McGrath and McGrath & Spielberger, PLLC handle both foreclosure cases in multiple states, including North Carolina and South Carolina.

https://youtu.be/kkxshCxt_Co

Posted in foreclosure, Foreclosures amp; Mortgage Loan Relief, Jason A McGrath, McGrath amp; Spielberger, Mortgage Loan Modification, Mortgage Relief / Loss Mitigation Programs, North Carolina, SCRA

Will a Foreclosure Start or Continue While a Modification or Other Mortgage Relief Request is Pending?

Posted on September 7, 2012May 2, 2022 by g83js92js91
traffic-lights-all-lights-on

One of the most common questions that I and other lawyers in my firm are asked by borrowers is weather a foreclosure action will start or commence even if the borrower is supposedly being considered for a mortgage loan modification or other type of mortgage relief such as a forbearance plan, a short sale, or a deed in lieu of foreclosure. Of course a relevant and important follow up question is why lenders continue to foreclose even if a mortgage relief option is supposedly in the works.

Unfortunately, in almost every circumstance, a mortgage lender/servicer such as Bank of America, Citibank, Chase, GMAC, and Wells Fargo will commence or continue foreclosure activities even while representatives of such loan servicers continue to tell the borrower that they are being considered for a modification, or even on the verge of receiving a final mortgage relief offer. Many of our clients have expressed that they feel as though the lender is dangling a carrot out in front of them with the one hand, while whipping them with the other. Many borrowers have expressed that they feel as though lenders are intentionally leading them on about the possibility of a mortgage relief option, just so the borrower is lulled into a false sense of security while the lender continues to foreclose.
I have one very important suggestion for you. I have handled numerous cases in which the mortgage lender or servicer has actually, from its standpoint, halted or even dismissed a foreclosure action but has either failed to communicate that to its foreclosure lawyers or to the borrower or the attorney for the borrower.  If you are facing foreclosure, be sure to attempt to have direct contact with the entities who are prosecuting the foreclosure, or have your attorney do the same if you are represented.  It is important to – as best as you can – make sure that you are as well informed as possible. Yes, of course, getting information out of these lenders is almost impossible at times, but it is important that you keep making the effort.

In order to be fair, we have to consider the reasons why mortgage loan lenders and servicers may continue to foreclose even though mortgage relief options are being considered.  As in almost all legal matters which involve opposing sides, one side may wish to impose pressure on the other in order to get what it wants.  From a strategical perspective, an attorney advising the lender may very well advise the lender to keep the pressure on for a number of reasons.  Since some borrowers are unable to comply with the terms of a mortgage relief opportunity, and others simply turn down opportunities for mortgage relief, the bank may be best served by continuing a foreclosure action until a mortgage relief option is finalized.  Keep in mind that the banks can typically take a situation to the very edge of a foreclosure sale yet not execute that sale if some final resolution short of foreclosure can be reached.

Let me make one final comment on this topic.  You should be aware that there are numerous prohibitions against foreclosure under certain circumstances.  These prohibitions may be found in federal law, state law, federal government program guidelines, court orders, court settlements, etc.  Further information on this specific topic will be provided in on our website, including pages which discuss prohibitions against foreclosure contained within the Making Home Affordable program.

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.

Posted in Deed in Lieu, foreclosure, Foreclosures & Mortgage Loan Relief, Mortgage Loan Modification, Mortgage Modification, National Mortgage Settlement, short sale

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