Calabasas, CA (Vocus/PRWEB) April 16, 2011
Philip Kramer has filed a mass joinder lawsuit against Wells Fargo/Wachovia (WELLS) (Nelson v. Wells Fargo, Superior Court of California, Superior Court of Los Angeles, case number: BC 452 264) in what is potentially the most considerable and precedent-setting legal action taken against lenders as a result of the national foreclosure crisis, it was announced today by Philip Kramer, Esq. of Kramer & Kaslow.

The firm has filed suit on behalf of a mass joinder of plaintiffs looking for damages and injunctive relief as a result of what it calls the bank’s fraud and multiple violations of Nearby, State, and Federal consumer protection laws. Relief is getting sought for fraud, to stop the illegal sale of plaintiffs properties, to force the bank to cease and desist from their conduct, as nicely as to seek compensatory damages on behalf of the plaintiffs.

Mr. Kramer says that the lawsuit alleges WELLS FARGO perpetrated a massive fraud, also constituting unfair competitors upon borrowers that devastated the values of their residences, resulting in the loss of net worth even as Wells Fargo enriched itself by knowingly promoting financial instruments primarily based on a worth the bank knew to be unwarranted. Mr. Kramer also claims that Wells Fargo further intended to deprive many rights and treatments for the issues they caused the borrowers and believes that the harm carried out to the plaintiffs is exceeded only by the scale of the banks conduct as asserted in the plaintiffs suit.

According to court documents, the lawsuit claims the Bank disregarded underwriting requirements and implemented a massive fraud that was concealed from borrowers and other mortgagees on an unprecedented scale. The lawsuit alleges that, as a result of the Banks actions, borrowers lost equity in their homes, their credit ratings and histories have been destroyed and they incurred unnecessary fees and expenditures.

Mr. Kramer says that the lawsuit challenges the fraudulent and illegal use of MERS in connection with the loans and mortgages, as well as the defendants failure to perform their obligations pursuant to accepting TARP funds.

The lawsuit’s filing coincides with a current decision in a class action suit in Maryland that invalidated far more than 10,000 foreclosure cases managed by Wells Fargo Mortgage because affidavits in the situations have been signed by a Wells Fargo robo-signer who, according to court documents, attested to the authenticity of foreclosure documents with out any knowledge about them, as well as signing other false statements in the case Manson v. Wells Fargo Mortgage LLC, 08-cv-12166, U.S. District Court, District of Massachusetts (Boston).

Philip Kramer of Kramer & Kaslow has also filed suits against Bank of America/Countrywide, JP MORGAN Chase/Washington Mutual, GMAC, A single West/Indymac, and Citibank which have all allegedly defrauded hundreds of thousands of home owners. These situations are now going national. Philip Kramer and Kramer & Kaslow attorneys have invoked laws and procedures the banks were previously unaware of.

I am convinced that for the 1st time that aggrieved property owners are going to get a fighting opportunity, says attorney Philip Kramer. Until now, the banks have had their way, using and abusing the program at the expense of distressed property owners across the nation. Now, following years of abusing home owners and the higher public, the bank bullies are getting a good stiff legal punch in the nose.

ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior companion of the Law Workplace of Kramer & Kaslow, in Calabasas, California. Kramer & Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes industrial litigation and trial advocacy, with a concentration on organization litigation, and genuine property matters. He has prosecuted and defended situations for more than twenty 5 years.

Mr. Kramer is a licensed genuine estate broker and has spent considerable time providing legal solutions in connection with real estate concerns relating to loan modification and loss mitigation, land use and zoning, environmental troubles, easements, construction and development, finance, and landlord tenant matters.

Mr. Kramer is admitted to practice ahead of all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 circumstances. He has appeared on nationally televised applications regarding pre-trial procedure and trial strategy and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of different legal and organization concerns.

Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

Mr. Kramer is also a previous president of the Los Angeles West Inns of Court, a national organization dedicated to bringing back professionalism and civility into the legal profession. He also serves on quite a few Boards of Directors and serves as an officer in several firms. For a lot more data contact (818) 224-3900 or visit http://kramerlaw2.com

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