Tag Archives: Modification

Mitchell J. Stein, Esq.: Trend of Bank of America Loan Modification and Consumer Abuses Needs Exposure

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Hidden Hills, CA (Vocus/PRWEB) January 25, 2011

Facing a national storm of criticism more than therapy of homeowners and illegal mortgage foreclosures, and most lately sued by Arizona and Nevada more than home-loan modification programs intended to maintain property owners who borrowed from its Countrywide mortgage unit out of foreclosure, Bank of America is becoming exposed as a major issue in making the problems property owners face in the ongoing foreclosure crisis, according to Mitchell J. Stein, Esq. of Mitchell J. Stein &amp Associates.

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There is a disturbing pattern of the way Bank of America treats folks getting revealed through consumer feedback and the tremendous amount of negative media coverage, which merely put, is regularly terrible, said Mitchell J. Stein, Esq., a 25-year award-winning litigator, trial lawyer, and philanthropist committed to protecting shoppers and victims’ rights in reigning in abusive practices of banks, lenders and other individuals. It is vital that the behaviors of the banks that have helped develop this crisis get national attention to assist protect buyers, resolve the crisis and recognize the Banks true function in it.

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Even though all 50 U.S. states are investigating whether banks and loan servicers used false documents and signatures to justify hundreds of thousands of foreclosures, Bank of America was sued in December, 2010 by Arizona and Nevada over home-loan modification programs intended to hold property owners who borrowed from its Countrywide mortgage unit out of foreclosure. A judgment in 2009 to resolve a lawsuit alleging Countrywide engaged in fraud necessary the Bank create a loan modification system for former Countrywide borrowers in those states.

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According to the Arizona lawyer common, rather of working to modify loans on a timely basis, Bank of America apparently proceeded with foreclosures while borrowers requests for modifications were still pending, mentioned Mitchell J. Stein, Esq. This is yet another of several examples in the foreclosure crisis of Bank of America allegedly ignoring the law to pursue earnings above people.

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In the Arizona and Nevada suits, the bank is accused of misleading shoppers about needs for the modification system and how extended it would take for requests to be decided. The bank supplied inaccurate and deceptive reasons for denying modification requests, according to the suits.

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From throwing peoples belongings into the street throughout wrongful foreclosures to foreclosing on homeowners operating for loan modifications, there is a typical and despicable lack of consideration by the Bank for its buyers, specifically men and women in jeopardy of becoming evicted since the Bank repeatedly doesnt fulfill its legal responsibilities in dealing with them and their mortgages, mentioned Mitchell J. Stein, Esq.

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The Arizona lawsuit seeks a court order holding the bank in contempt for violating the agreement and requiring it to pay as considerably as $ 25,000 for every single violation of the accord plus as considerably as $ ten,000 for each and every violation of the states customer-fraud law. Nevadas complaint seeks unspecified civil penalties and restitution.

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The Arizona case is Arizona v Bank of America, CV2010- 33580, Maricopa County Superior Court (Phoenix). The Nevada case is Nevada v. Bank of America, Eighth Judicial District Court, Clark County (Las Vegas).

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ABOUT MITCHELL J. STEIN &amp ASSOCIATES&#13

Mitchell J. Stein &amp Associates is a California-based law firm founded by M.J. Stein, Esq. a 25-year award-winning litigator, trial lawyer, financier, and entrepreneur who has represented many of the world’s biggest organizations and has been involved in some of the highest profile circumstances in the Nation’s history. The Firms philosophy is primarily based on the belief that their consumers needs are of the utmost value and, as a result, a higher percentage of the Firms enterprise has been from repeat buyers and referrals. The Firms practice places include Complex Litigation, Bank Difficulties, Mergers &amp Acquisitions, Commercial and Residential Foreclosures , and Bankruptcy Litigation. Mr. Stein is also the founder of VIPS Foundation (Victims of Injustice Discomfort and Suffering), via which victims nationwide, over the last 15-years, have received assistance following unfortunate events that subjected them to oppression or mistreatment. In that regard, Mr. Stein received the inaugural Mitchell J. Stein Benefactor Award from the National Organization for Victims Help (NOVA) for his work in safeguarding victims rights. Go to http://www.mjsteinassociates.com or http://www.dobielaw.org for much more info.

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Kevin Levine, EVP, Strategic Asset Solutions Asks, “Are You a Candidate for a Industrial Loan Modification?”

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Woodland Hills, CA (PRWEB) February 23, 2011

Numerous borrowers looking for to obtain modifications of their commercial true estate loans are not good candidates for such loan modifications, stated Kevin Levine, Executive Vice President of Strategic Asset Solutions (SAS) of Woodland Hills, California. In our initial interviews with prospective consumers, we are able to draw upon our encounter dealing with a wide range of lenders in advising regardless of whether a loan modification is a realistic option, Levine mentioned. Numerous borrowers mistakenly believe that lenders will modify loans in this market place environment for any borrower but that is not right. A lender should be offered with a convincing purpose to enter into the loan modification, and need to perceive that it will benefit from it.

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Levine explained that there are a number of essential factors that a lender will think about in figuring out no matter whether or not to modify a commercial true estate loan. The most essential point is whether or not the current worth of the property is far more or significantly less than the quantity owed on the loan, he said. If the house is worth a lot more than the debt, the lender usually is inclined to proceed to collect its loan balance by means of a foreclosure sale. Levine explained that a second vital aspect is no matter whether or not the home is producing a optimistic money flow. If funds are accessible to meet the debt service obligations, the lender typically would not conclude that the loan should be modified, Levine stated.

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A third consideration on the element of the lender is regardless of whether there are financially powerful borrowers or guarantors with full recourse liability for repayment of the loan. If that is the case, the lender eventually can recover the loan balance in complete, even even though the sale of the secured house may possibly result in a deficiency, he said.

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Levine commented that if these 3 aspects are present: the home value being higher than the loan balance the property evidencing a good money flow and the borrowers or full recourse guarantors becoming financially powerful, there generally is little likelihood of a loan modification getting granted. An exception would be the existence of a substantial quantity of deferred upkeep or the need to have for substantial capital improvements, Levine added. In such a case, the lender might be willing to reduce the interest rate and/or allow for interest-only payments for a brief time, say 18 months, supplied that the amounts saved from the payment reduction are applied to correcting the deferred maintenance or producing the capital improvements. In this scenario, the lender positive aspects from the loan modification through the improvement in the propertys situation.

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A perfect candidate for a commercial loan modification is a loan whose balance is greater than the value of the secured true estate the house is generating a negative cash flow and is unable to service the debt and there are no financially sturdy borrowers or guarantors, Levine concluded.

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SAS offers commercial loan modification and brief sale services in California and throughout the nation. The companys personnel bring comprehensive industrial real estate knowledge to each assignment, which includes market place evaluation, valuation, legal, and negotiation knowledge. Each borrowers special lending scenario is totally analyzed, and the borrower is assisted in preparing existing operating reports and projections. Then SAS drafts and submits to the lender a loan modification proposal. That proposal may possibly include a principal reduction, interest price reduction, and waiver of penalty charges. In these situations exactly where a loan modification will not operate to the mutual benefit of the borrower and lender, SAS will attempt to broker a quick sale of the industrial genuine estate at a substantial discount from the loan balance, or will seek to negotiate a sale of the note to a third-celebration.

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SAS is a member of the Peak Corporate Network headquartered in Woodland Hills, California. In addition to industrial loan modifications, the Peak Corporate Network delivers mortgage lending, loan servicing, residential brief sale, 1031 exchange, trustee perform, foreclosure services, and real estate sale brokerage solutions. These solutions are offered mainly all through the Western United States for each residential and commercial actual estate properties and loans.

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Amerihope Alliance Celebrates 3000th Loan Modification

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Fort Lauderdale, FL (PRWEB) March 19, 2011

Amerihope Alliance Legal Services, LLC celebrates one more victory for struggling Florida property owners in finishing its 3000th productive loan modification by means of foreclosure defense and conciliation.

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Gregory Nordt, principle and lead attorney at Amerihope Alliance, attributes the firms unprecedented loan restructuring success to the diligence of our legal team maintaining on best of lenders’ ever-altering criteria, information of the legal foreclosure defense method and revolutionary methods to get property owners modifications that are in their ideal interest through conciliation and mediation processes. We use each and every offered tool to our advantage and leave absolutely nothing to opportunity when fighting to save a house. This approach is paying off with thousands of households affordably staying in their homes due to the fact of Amerihope Alliances function.

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In recent weeks, significantly was mentioned about Florida foreclosure mill fraud and there has constantly been speak of loan modification and foreclosure rescue scams. Nordt questions, Exactly where are the articles, the attributes, the dialogue about those really advocating on behalf of property owners facing foreclosure? With growing foreclosures, rising bank fraud, and the apparent failure of loan modification applications now is a great time to start applauding law firms like Amerihope Alliance and attorneys like Nordt.

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Given that Florida rolled out its foreclosure mediation plan particularly made to clear circumstances out inventory, only six% of foreclosure mediation sessions have resulted in a favorable outcome for the homeowner. Mediation is not set up to assist the homeowner and most result in foreclosure. With out knowledgeable legal representation, mediation is little far more than a rapidly track to eviction.

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Amerihope Alliance has won battles for Florida homeowners facing foreclosure against the most non-cooperative lenders. Amerihope Alliance’s 3000th effective modification came against OneWest Bank (formerly Indymac). In this case, a loved ones keeps their property and can now afford their mortgage payments. Amerihope Alliance negotiated a substantial rate reduction to a fixed four.38% for the life of the loan and obtained a principle reduction of $ 50,363.32. This family’s month-to-month mortgage payment was decreased by practically 50% dropping from $ 1,544.00 to $ 878.62. Amerihope Alliance showcases hundreds of examples like this on their web site, http://www.amerihopealliance.com, so that property owners may possibly view actual benefits negotiated with their mortgage lender.

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With firms like this supplying cost-free consultations and going to bat for struggling property owners, there is no explanation any individual must fight the banks alone. Amerihope Alliance stands out as a law firm achieving true final results for Florida property owners.

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Recent US Treasury Announcement States that Net Present Value Test, Such as United Resources Solutions’, Will Ensure a Loan Modification

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Fort Lauderdale, FL (PRWEB) April 14, 2011

It’s no secret that our nation’s economy is in a slump. There have been numerous adverse consequences on the American folks as a result of the recession, including an improve in foreclosures. But in an work to stop foreclosures, much more and a lot more men and women are pursuing loan modification. Loan modification alters the terms of the loan to avert default. But in order to be regarded as for loan modification, a homeowner need to pass the NPV test. The NPV test measures the net present value (NPV) of your home. If a homeowner passes the NPV test, they will be authorized for a loan modification. The NPV test is not essential, but it can help. An on the web version of this test can be discovered with United Resources Solutions’ Web site. Even the US Treasury Department has recently said that it is the only certain way of receiving a loan modification.

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When somebody is in search of loan modification, they can take the NPV test in order to see if it will aid to stay away from foreclosure. The NPV test requires the homeowner’s cash flow and factors in the loan expenses with loan modification and with no loan modification. If the NPV test is constructive, then it indicates that the homeowner would have greater cash flow with a loan modification. The NPV test is a wonderful way for lenders to evaluate whether or not a modification would really support the homeowner or not. If it would not aid homeowner, then there’s no point in performing it.

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The major purpose of a loan modification is to prevent foreclosure. Foreclosures are a big loss of revenue for the bank as nicely as a blot on the borrower’s credit record, so it is typically in everyone’s very best interest to avoid foreclosure. Typically, a loan modification can alter a loan slightly so that the borrower is capable to pay for it. The NPV test can give the lender a far better concept of how helpful a loan modification would be. The NPV test is simple to run, and the NPV test is a wonderful way to save time. If the borrower passes the NPV test the borrower will be authorized for a loan modification.

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The NPV test is such a excellent indicator that the United States Treasury Department has even stated that passing the NPV test is the only positive way to be approved for loan modification. The documents from the Treasury Department go additional, stating that When Mortgage modifications have a optimistic NPV, it is in the ideal interests of lenders, servicers, investors, and borrowers to modify mortgages to lessen the risk of foreclosure. It is a great idea to take the NPV test if the borrower is getting a tough time paying their mortgage. A loan modification can support to make a borrower’s loan far more affordable. If the borrower is critical about getting a loan modification, take the NPV test. It is the best bet at acquiring the loan modification that is necessary.

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A good resource, and an NPV loan modification test can be identified at the &#13

United Resources Options internet site.

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Bank of America Wants Death Certificate of Living Consumer to Approach Loan Modification

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San Diego, CA (PRWEB) March 15, 2012

Bank of America never ever questioned how independent filmmaker De Veau Dunn could be making mortgage payments from six feet beneath. They just kept sending letters, for months, saying they needed his death certificate in order to modify his house loan. So Dunn, along with San Diego based production firm Endi Entertainment, produced a video about the whole story.

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Throughout the loan modification procedure Bank of America had repeatedly requested and received the exact same documents from Dunn. Then the bank claimed to want homeowner Dunn to send official documents proving he was deceased, in order to complete his loan modification.

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At very first I gave Bank of America the benefit of the doubt, thinking they had created a mistake,” stated Dunn. ” I immediately contacted the bank to inform them that, not only was I still alive, but I was the only borrower on my house loan, and I was nevertheless seeking a modification.

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Dunn mentioned he spent several weeks creating phone calls, writing letters and emailing the bank’s client relations manager. Right after a lot more than a month of back and forth with Bank of America and nevertheless getting nowhere, Dunn received a new letter requesting not only his death certificate, but a statement of death benefits to go along with it.

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Dunn explained , “It was at that point that I’d had sufficient and I he decided to make a documentary about the expertise. I did not know what else to do, the expertise has been unsettling, on a lot of levels, said Dunn. What should have been a straightforward economic transaction turned into a relentless nightmare. It was weird. I felt like I was fighting for my life. At one particular point a representative laughed about it more than the phone I was in shock.”

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“I made this film not just for myself, but so that it might be the voice of numerous other people who may be becoming treating this way by lending institutions. I have been told several stories of older folks that some banks are bullying and most of those individuals don’t have a voice, according to Dunn.

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Dunn began his video with a $ 50 price range. Money is tight, but thankfully I had a handful of filmmaking friends that wanted to assist me. We shot the whole factor in a single weekend, and I did the voice-more than narration myself.” according to Dunn. Comedian Mark Serritella was so upset when he heard what the bank was carrying out that he asked to play Dunn in the film in exchange for gas funds and a location to crash. One more actor-filmmaker buddy, Nicholas George, helped polish the script and flew to San Diego to play the undertaker in the Bank of America Wants You to Die documentary.

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“Mark Serritella actually captured the feelings and Nicholas George was hilarious in the video,” mentioned Dunn. “After I shot the last scene for Portion One, I ultimately began to feel like all of this hardship had a greater purpose. Like the story of David versus Goliath, said Dunn. In this case, a modest bank buyer like myself is becoming bullied by the biggest bank in America, Bank of America. I didnt know what else to make of it other than is seems as although Bank of America wants you to die… prior to they modify.

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About Banking Poor: The Banking Bad documentary series about Dunn’s story may possibly speaks to an whole nation caught in a financial and housing crisis. You can find the video on the “Banking Undesirable” web site or at http://www.YouTube.com/BankingBad.

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Kramer Law: Home Help Modification Shut Down by The House of Representatives

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Calabasas, CA (PRWEB) April 27, 2011

The Residence of Representatives voted recently to end the Home Assistance Modification Program (HAMP), arguing along party lines that the system simply does not perform. Even the most optimistic observer has to acknowledge that the program has not succeeded nearly as effectively as was initially promised when President Obama declared that the system would help 3 to 4 million Americans. As of today, the most generous assessment puts the number of these helped at significantly less than 600,000 folks.

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Philip A. Kramer, an lawyer of Kramer &amp Kaslow who currently leads numerous of the biggest lawsuits ever assembled against lenders for their alleged misbehavior in the market crisis, believes that the failure of HAMP is all also predictable. Kramer posits, There is no accountability. The HAMP System is entirely voluntary. With no fines, with out oversight, well, the results are not difficult to predict.

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The outcomes have been regularly dreadful. According to a recent New York Occasions write-up, The firms that service mortgages, usually huge banks, continually drop homeowner paperwork and incorrectly tell home owners that they must be delinquent to qualify.

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Philip Kramer is not surprised. My consumers report massive frustration in dealing with the banks. Losing paperwork. Never ever speaking to the exact same person twice. Most of the people who come to me have spent months and months or longer trying to function issues out with the lender on their personal.

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The New York Occasions agrees, Interviews with a dozen homeowner applicants in four states reveal a familiar pattern: Banks deny a lot of who, by revenue and credit scores, appear to qualify. And homeowners finish up weighed down by legal fees and facing foreclosure.”

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According to Kramer, the program is fully dysfunctional. A few Bank of America employees spoke to the New York Instances anonymously, fearful of employer retaliation. Bank of America, these staff say, routinely loses documents, says Kramer. 1 department does not talk to an additional. Applications drag on for far more than a year. Occasionally the bank forecloses while property owners are paying modified loans. And property owners who are denied will face an imposing bundle of late charges and back-payments.

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Some Treasury officials privately blame the property owners themselves. This infuriates Philip Kramer who says, The clientele who come to me arrive at my office with reams of paper. They have completed almost everything in their energy to get assist. It is the banks who have failed right here. Pure and straightforward. Court filings bear this out.

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As foreclosures continue to improve in ever greater numbers, one particular factor does appear clear: government programs arent functioning. Unless new legislation arrives and that appears unlikely property owners are just going to have to seek help elsewhere.

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http://www.nytimes.com/2011/03/30/organization/30foreclose.html?hp

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About Kramer Law&#13

Kramer &amp Kaslow is a Professional Law Corporation our purpose is to defend our client’s rights and locate options. We strive to give our clientele the skilled and individual interest that they deserve. The Law Offices of Kramer &amp Kaslow specialize in Civil Litigation, True Estate Law, Franchise Law, Entertainment Law, Estate Planning, Corporate Enterprise Transactions, Trademarks, Copyrights, and International Law. For much more information contact (818) 224-3900 or visit http://kramer-kaslow.com

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Bank of America Loan Modification video Bank of America Desires You to Die reaches over 11,000 views in its first week on the new Banking Poor YouTube Channel

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San Diego, CA (PRWEB) March 28, 2012

When Director De Veau Dunn created the Banking Negative video series for a brand new web site named http://www.BankingBad.com, he had no thought his initial video release, Bank of America desires you to die ahead of they modify, would attain effectively more than 11, 000 views in its initial week of release on YouTube. Dunn Developed the video with San Diego based production company Endi Entertainment. It has been amazing, says Dunn, Banking Negative started the new channel with zero subscribers, but a couple of underground sources latched on to the video quite rapidly it seems.

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The 1st episode of the Banking Undesirable Documentary series was filmed to spotlight Bank of Americas continued request for the death certificate of a living borrower in order to total a residence loan modification. We had been hoping that the video did nicely and was entertaining, but we had know thought so several men and women were getting problems receiving their property loan modifications until we began receiving emails. I believe this may be why folks have gravitated to the Bank of America Desires You to Die video so speedily. We have received so numerous emails from folks who are possessing unfavorable experiences with Bank of America loan modifications, as well as a lot of other banks. These men and women have been thanking the men and women over at Banking Bad as effectively as my crew for posting the 1st Banking Poor video, says Dunn.

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This initial optimistic response has prompted the individuals at Banking Bad to generate a Banking Poor Facebook page to go along with the Banking Negative Video knowledge. Banking Undesirable is inviting people to like the new page at https://www.facebook.com/BankingBad, as well as comply with Banking Undesirable on twitter at https://twitter.com/#!/BankingBad, for video updates on the banking documentary.

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Dunn added, it was a actual challenge to locate humor in the morbid scenario that Bank of America created by requesting a Death Certificate for a straightforward financial transition. I was able to craft a bit of humor in element a single of the Bank of America documentary via a satirical scene I utilized at the finish of the video. The majority of folks that have reached out to us by way of e-mail described their enjoyment of that scene and how the video had similarities to their loan modification encounter. The very first Banking Bad video is about 7 minutes in length and the satirical scene Dunn mentions is toward the end of component one. Filmmaker Nicholas George stars in the scene playing an undertaker. Dunn continues, Oddly sufficient individuals have been writing in about how funny Nicholas was in that scene. Personally I think it added a small levity to a extremely tough circumstance, and I am shocked to see how many individuals have been watching the Banking Bad video for pure entertainment and have no involvement or experience with loan modifications.

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About Banking Bad:&#13

The Banking Undesirable internet site and YouTube channel is dedicated to educating and informing the public of strange or immoral activities involving banking institutions. Banking Poor permits users to join in the conversation and exchange info about their most current loan modification or banking pitfalls and/or successes.

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Kramer & Kaslow Attorney Philip A. Kramer Weighs in on Government Loan Modification Controversy

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Calabasas, CA (PRWEB) April 30, 2011

Whilst no imminent legislation is in sight, the California Democratic Congressional Delegation did send a letter to Attorney Basic Eric Holder that concludes amongst other things, Its clear that even soon after promising to operate with borrowers, and getting government incentives to do so, economic institutions are simply stringing the American individuals along. Right after reviewing thousands of complaints from our constituents, it appears that we arent dealing with isolated incidents and that a pattern of misconduct and obstruction is present.

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When asked for a comment about the report, noted lawyer Philip Kramer explained, The technique as it is set up now merely does not operate. There is no accountability. There are no significant rewards or punishments. The lenders have each and every incentive to fall short. They do not disappoint in this regard.

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Offered the scope of the problem, it appears likely that something is going to have to be accomplished to address the circumstance, but legislators are locked in partisan battle, and it appears most likely that for the time being home owners in problems are going to have to struggle with the banks or seek redress in the courts.

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Its an unfortunate scenario, Philip Kramer comments, But I dont see something changing for the far better any time soon.

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http://lofgren.property.gov/index.php?choice=com_content material&amptask=view&ampid=605&ampItemid=89

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ABOUT PHILIP KRAMER&#13

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

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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 company litigation, and genuine home matters. He has prosecuted and defended instances for more than twenty 5 years.

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

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Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has attempted in excess of 200 situations. He has appeared on nationally televised applications with regards to pre-trial procedure and trial approach and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of a variety of legal and organization troubles.

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

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization committed to bringing professionalism and civility back into the legal profession. He also serves on quite a few Boards of Directors and serves as an officer in many companies. For a lot more data get in touch with (818) 224-3900 or pay a visit to http://kramer-kaslow.com

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Chinese Drywall Complaint Center Launches a Vital Loan Modification Service for Florida Homeowners Stuck with Chinese Drywall

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(PRWEB) May possibly 12, 2011

The Chinese Drywall Complaint Center is attempting to provide dramatic assistance for all current Florida home owners stuck in a toxic Chinese drywall property. Their Chinese drywall inspection report is made to hopefully help Florida property owners receive a substantial loan quantity reduction from their bank, or loan servicing firm. In the instance of existing Florida home owners living with Chinese drywall, this report is created to carefully document the existence of toxic Chinese drywall in a house, or condominium, and then they will go directly to the homeowners bank, or loan servicing firm requesting a substantial loan modification based on the remediation charges, and associated costs. This, all in the hope the homeowner can receive a dramatic loan modification, from their bank, or loan servicing firm. The group says, “We think our toxic Chinese drywall inspection service will be of excellent help to Florida homeowners stuck in toxic Chinese drywall hell, including home owners, who are waiting for the Knauf Tianjin toxic Chinese drywall settlement. At this moment we believe our inspection service is the ideal hope for Florida home owners, who are stuck with toxic Chinese drywall to get any meaningful help, or help from their bank, or loan servicing firm.” For far more information interested Florida home owners can get in touch with the Chinese Drywall Complaint Center at 866-714-6466, or they can get in touch with the group via their web web site at http://ChineseDrywallComplaintCenter.Com

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The Chinese Drywall Complaint Center is warning all house buyers to not acquire any Florida residence, or condominium with out a thorough inspection for toxic Chinese drywall. The group says, “Even though toxic Chinese drywall may have been employed in new properties in Florida from 2000, until late 2008, we are really concerned about home remodeling, and or a lot more importantly storm, or hurricane broken properties in Florida. Translation-almost everything is on the table, and every single property, or condominium wants to be inspected for toxic Chinese drywall in Florida.” They say, “For residence purchasers from out of state, you need to ask your real estate agent if they are aware of toxic Chinese drywall. In the event they say-no in no way heard of toxic Chinese drywall-discover a new genuine estate agent. If a Florida home foreclosure has toxic Chinese drywall, our simplified report is created to save the purchaser tens of thousands, or hundreds of thousands of dollars. Our fundamental inspection comes with a toxic Chinese drywall remediation expense constructed into our valuation formula.” http://ChineseDrywallComplaintCenter.Com

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(United States District Court-Eastern District of Louisiana MDL Case #2047)

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Kramer and Kaslow: Even Right after Mortgage Modification, Alleged Shoddy Bank Practices Hurt Homeowners

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Calabasas, California (PRWEB) June 16, 2011

Philip Kramer, lead lawyer at the Law Offices of Kramer and Kaslow, lately commented on a Propublica write-up about mortgage modification issues. According to the news publication Propublica.org, A lot of homeowners have been granted a difficult-fought mortgage modification only to have their mortgage company efficiently pull a bait and switch.

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Propublica goes on to report, To get a sense of how widespread this problem is, the nonprofit Connecticut Fair Housing Center conducted an informal survey of 16 legal aid organizations and one particular private attorney. In practically a quarter of the 655 situations of modifications they reviewed, the mortgage servicer did not abide by the terms of the agreement.

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Bryan Hubbard, a spokesman for the Office of the Comptroller of the Currency (OCC), the primary regulator for the country’s largest banks, said in the report that, Regulators were aware of the issues and are placing processes in place to address them. The banks, for instance, will soon be required to give a “single point of contact” for every homeowner, so that when an error does happen, the homeowner will supposedly be in a position attain somebody knowledgeable about their case.

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When asked to comment, Philip A. Kramer, a noted litigator whose firm Kramer &amp Kaslow has filed consolidated plaintiff litigation lawsuits on behalf of hundreds of home owners against some of the nations top banks, said, This behavior is standard, sadly. Its a mixture of arrogance and incompetence. Perhaps worse, due to the fact what normally takes place is that when a homeowner gets an attorney involved, the banks get responsive. That suggests that at the really least, they can get factors appropriate when they have to.

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Far more of Philip Kramers observations can be located at the Kramer and Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

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

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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 enterprise litigation, and true house matters. He has prosecuted and defended instances for more than twenty 5 years.

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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 concerns, easements, building and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice just before 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 cases. He has appeared on nationally televised programs relating to pre-trial procedure and trial approach and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of a variety of legal and enterprise concerns.

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

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Mr. Kramer is also a previous president of the Los Angeles West Inns of Court, a national organization committed to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in numerous organizations. For more details contact (818) 224-3900 or go to http://kramer-kaslow.com

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