Calabasas, California (PRWEB) June 04, 2011
MSNBC recently reported that during the state attorneys common summit, Bank of America Corp. Chief Executive Officer Brian Moynihan said that property owners could have to appear elsewhere for extended-term investment returns. He opines further that some locations of the nation could not rebound at all.

Its worth placing the remarks in context, observes Philip Kramer, senior companion at the law firm of Kramer & Kaslow, Bank of America is in problems. Regulators, Justice Department officials, and court instances are coming at them proper and left. Theyre crying poor.

The MSNBC article reports that Moynihans argument is that low population growth in some regions of the country will lessen demand and consequently act as a downward pressure on home prices.

“It’s sobering to consider, but some people should not be thinking of (their property) as an asset,” Moynihan stated at the 2011 National Association of Attorneys Basic conference. “They need to be considering of it as a great location to live.”

Philip Kramer sees it differently. Kramer feels that property owners, faced with an at best uncertain future, have to do every thing in their energy to readjust their home values now. For greater or worse, for possibly the initial time in history, banks are speaking with homeowners about modifying loans and producing other adjustments. Kramer observes. Now is the time to get things to happen. Even if it has to be completed by means of the courts. Judges are listening to homeowners arguments about bank wrongdoing in a way they by no means would have a decade earlier.

As Kramer sees it, element of the banks obligation is to reduced house values to their existing marketplace valuations, rather than the inflated amounts at which the loans were initially made. Appear, says Kramer. The banks are working with homeowners because theyre beneath duress. There is nothing noble or nicely-intended in the situation, but even so, even although they are becoming dragged into producing adjustments kicking and screaming, even with all of that, it is taking place. Also slow. Too tough. Too time-consuming. But for the initial time, with a lot of obstacles, home owners have a fighting opportunity to come out ahead. Theyre going to have to fight tough, but they just may win for when.

http://www.msnbc.msn.com/id/42556230/ns/organization-true_estate/

ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior partner of the Law Office 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 commercial litigation and trial advocacy, with a concentration on company litigation, and real home matters. He has prosecuted and defended instances for over twenty 5 years.

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

Mr. Kramer is admitted to practice prior to 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 instances. He has appeared on nationally televised programs regarding pre-trial process and trial approach and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer regularly lectures on a broad spectrum of a variety of legal and company troubles.

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

Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on several Boards of Directors and serves as an officer in a lot of businesses. For a lot more information call (818) 224-3900 or pay a visit to http://kramer-kaslow.

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