Friday, January 30, 2015

CitiMortgage: Refusing to speak with the borrower but willing to foreclose?

CitiMortgage: Refusing to speak with the borrower but willing to foreclose?

As an attorney that represents homeowners facing foreclosure, I deal with loan servicers on a frequent basis. The most recent saga involves CitiMortgage and its refusal to speak with anyone regarding the loan, including the borrower himself.

There are a couple details that you must know in order to understand the whole picture. Our client does not have a social security number, but keep in mind that our client did not have a social security number at the time CitiMortgage originated the loan. CitiMortgage knew this information and still gave him the loan.

We had been communicating with CitiMortgage for months regarding loss mitigation with no mention of the social security issue. And then out of nowhere, an agent refused to provide any information on the account because the borrower did not have a social security number. He claimed that the borrower’s identity could not be verified without this information and could not speak to us. Furthering the absurdity of the situation, the agent said that CitiMortgage could NOT EVEN SPEAK TO THE BORROWER HIMSELF due to the lack of social security number.

Does it seem logical to you that CitiMortgage, as the loan servicer, can continue with a foreclosure action while refusing to speak to anyone about the matter? I would hope not. In order to resolve this ordeal, we had to act aggressively and escalate the case within CitiMortgage.

Want to read more? For more articles on the illogical acts of loan servicers, click here.

Foreclosure Hearing Wells Fargo Henderson County NC

The following is a summary of a foreclosure hearing that McGrath & Spielberger assisted a borrower with, and is provided for informational purposes only.

Mortgage Loan Servicer / Foreclosing Bank: Trustee Services of Carolina, LLC as Substitute Trustee for Wells Fargo Bank

Distressed Property Address (City): Mills Creek, North Carolina

Type of Distressed Property: Primary residence

Date of Foreclosure Hearing: January 2015       

Location of Foreclosure Hearing: Henderson County, NC

Bank’s Foreclosure Trustee: Brock & Scott PLLC

Borrower’s Attorney: Jason A. McGrath

Actions Taken by McGrath & Spielberger on Behalf of Borrower (Specifically in Relation to the Foreclosure Hearing): Motion to Continue Foreclosure Hearing heard, Attorney McGrath attended hearing with client.

Foreclosure Hearing Outcome: Borrower’s Motion granted; foreclosure avoided.

Wednesday, January 28, 2015

When to Hire an Attorney for Foreclosure and Mortgage Relief

When to Hire an Attorney for Foreclosure and Mortgage Relief:

In this video blog, Attorney Jason McGrath discusses why hiring an attorney during the early stages of a foreclosure or mortgage relief process is important.

Tuesday, January 27, 2015

Google Super-Fast Internet Service Headed to 4 Cities McGrath & Spielberger Serves!

Google Fiber Optic Internet Service Coming to Charlotte, NC; Raleigh, NC; Atlanta, GA; and Nashville, TN

As a law firm which is small in number of attorneys but with a wide reach (our attorneys, on average, are licensed in 2 states and we provide services in a total of 7 states), we utilize technology - of course including the internet - to service our clients in a cost-effective and efficient manner. Thus McGrath & Spielberger is particularly excited that, today, Google announced it is bringing its fiber optic service to Charlotte, Raleigh, Atlanta, and Nashville. With our headquarters in Charlotte, we are also proud of the City's efforts and take this decision as a compliment to its leaders. Details found below (credit to Yahoo news / Associated Press):

Laptop computer NASHVILLE, Tenn. (AP) — Google said Tuesday it has selected four metro areas in the Southeast to receive its fiber optic service that can deliver Internet speeds at more than 50 times the national broadband average.
 The company said it will bring gigabit-speed service to Nashville, Tennessee; Atlanta; and Raleigh-Durham and Charlotte in North Carolina. Google officials said five Western cities previously identified as finalists remain in the running for fiber down the line.

"We had four cities here in the Southeast that were ready to go," said Kevin Lo, Google's general manager for fiber services. "I want to be really clear that this is not 'no' to anybody for the other five metro areas."

The other five cities in the running are Phoenix; Salt Lake City; San Jose, California; Portland, Oregon; and San Antonio.

Google Fiber boasts that its service can download an entire movie in less than two minutes and that it has vast potential in business, science and education.

Lo cited the example of a geneticist in Provo, Utah, who can download an entire human genome, or about 200 gigabytes worth of data, via Google Fiber in less than half an hour. That compares with 77 hours at traditional broadband speeds.

"The next chapter of the Internet will be written at gigabit speeds," Lo said.

Launched as an experimental project in 2010, Google Fiber is available in Provo; Kansas City, Missouri; Kansas City, Kansas; and Austin, Texas.

Google is hoping the competition will prod existing Internet service providers such as Comcast, Verizon Communications and AT&T Inc. to upgrade their networks so they can run at faster speeds. Google figures it would still benefit in that scenario if the improvements to rival networks spur more Web surfing.

Prices for Google Fiber are comparable to or below what most households already pay. For example, in the two Kansas City markets, Google Fiber charges about $70 per month for just high-speed Internet service, or $120 for an Internet and TV package.

Lo declined to say when the service would be available to customers in the new cities, but officials in Charlotte said they hope the work to be complete within the next two years.

President Barack Obama earlier this month urged greater access to faster Internet speeds as a way to create jobs and make local businesses more competitive in the global economy.

The president is calling for a repeal of restrictions on local communities creating their own broadband networks, a stance at odds with major cable and telephone companies that often provide Internet service with little competition.

Obama has also angered the industry by calling for new Federal Communications Commission rules that treat Internet service providers as public utilities.


Tuesday, January 13, 2015

Your Opinions Regarding WF & BOA Waiving More Than $10 Million in Debt for City of Charlotte’s NASCAR Hall of Fame Loans

Your Opinions Regarding WF & BOA Waiving More Than $10 Million in Debt for City of Charlotte’s NASCAR Hall of Fame Loans?