Khurana v. CitiMortgage CA1/3
In October 2006, the Khuranas obtained a $1,080,000 loan from Argent Mortgage Company, which was evidenced by a promissory note and secured by a deed of trust encumbering the Khuranas’ property in San Ramon (the property). Citi became the mortgage servicer for the Khuranas’ loan in 2008 and continued in that role while the beneficial interest in the loan was assigned several times. In January 2009, the Khuranas were granted a loan modification, but they failed to make their modified loan payments after May 2009.
In May 2015, a notice of default was recorded against the property, which stated that the Khuranas’ loan was in arrears in the amount of $546,287.94. At the time, the beneficiary of the deed of trust was U.S. Bank National Association as trustee for Citigroup Mortgage Loan Trust Inc. Asset-Backed Pass-Through certificates, Series 2007-AMC2 (Citigroup).
In September 2015, the Khuranas filed a voluntary petition for Chapter 13 bankruptcy.
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