Calabasas, CA (PRWEB) June 05, 2011
A government report released earlier this month is addressing the expanding list of foreclosure problems in the United States (Government Accountability Office report #GAO-11-433). According to the Might 2011 Government Accountability Report, the administration is operating to negotiate settlement terms with firms it alleges offered faulty therapy of borrowers. Even though no organizations are particularly named in the report, it does allege that two big mortgage firms illegally foreclosed on the residences of almost 50 active-duty military service members.

Shahien Nasiripour reports in a May 6, 2011 write-up in the Huffington Post that, The Obama administration and state officials are anticipated to supply the nation’s 5 biggest mortgage firms updated terms next week in ongoing negotiations over a settlement concerning the firms’ faulty therapy of borrowers (detailed in a GAO document entitled: MORTGAGE FORECLOSURES Documentation Troubles Reveal Need for Ongoing Regulatory Oversight), according to 3 folks with knowledge of the government plan.

When total, the new settlement could help struggling property owners preserve their houses and far more easily modify their mortgages. Noted consolidated plaintiff litigation lawyer, Philip Kramer of the Law Offices of Kramer & Kaslow, has weighed in on the newest GAO report. What you have here is a political battle,” says Kramer. “Pretty significantly everyone agrees that there is wrongdoing. Now comes a political and legal query: what does restitution look like? What corrective actions need to be taken going forward? With any luck, the government can start to aid distressed homeowners who have been wronged by their lenders and this new report is an initial step in that direction.

A a lot more substantial discussion of the ongoing negotiations in between the government and the lenders can be found on Kramers internet site: http://kramer-kaslow.com/blog/2011/06/lawyer-philip-kramer-theres-negative-and-then-theres-negative-military-service-members-illegally-forclosed-upon/

http://www.huffingtonpost.com/2011/05/05/banks-illegal-foreclosure-soldiers-gao-report_n_858207.html

ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior companion 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 industrial litigation and trial advocacy, with a concentration on company litigation, and real home matters. He has prosecuted and defended instances for more than twenty 5 years.

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

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 situations. He has appeared on nationally televised programs regarding pre-trial process and trial approach and has appeared as a guest lecturer on subjects ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of a variety of legal and business problems.

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 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 a lot of businesses. For a lot more information call (818) 224-3900 or pay a visit to http://kramer-kaslow.com

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