Tag Archives: Foreclosures

Foreclosure Auctions are Red Hot as Nations Leading True Estate Auction Firm REDC Rolls into Atlanta Saturday to Auction 250+ Fresh Foreclosures

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Irvine, CA (Vocus) March six, 2010

Home foreclosure auction sales are red-hot throughout the U.S.

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Actual Estate Disposition, LLC, (REDC), the nation’s leading true estate auction company, has auctioned a U.S.-major 5,705 properties for $ 322 million so far this year as it rolls into Atlanta to auction 250+ foreclosures at Cobb Galleria Saturday March six at 9:30 a.m.

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“2010 is the year of the foreclosure,” REDC CEO Jeff Frieden says, referring to the three to seven million foreclosures that are hitting the market this year, doubling the quantity from 2009. “The marketplace is white hot. The demand is there along with the inventory.”-

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To see all the properties up for auction, go to REDC’s internet website, http://www.Auction.com. The public might register online for the auction. REDC also conducts industrial and notes auctions, which can also be reviewed at http://www.Auction.com.

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Here are some of the best offers in the ATL auction:

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647 Hwy 279 Fairburn, GA 30213 5600 sq ft home previously valued at $ 678K that will have a startling bid of $ 99K

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613 Chimney Oaks Mableton, GA 30126 3619 sq ft property previously valued at $ 510K that will have a startling bid of $ 149K

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4997 Dovecote Trl Suwanee, GA 30024 3864 sq ft home previously valued at $ 455K that will have a startling bid of $ 99K

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844 Cross Fire Ct Nw Marietta, GA 30064 3733 sq ft house previously valued at $ 425K that will have a startling bid of $ 149K

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The dismal state of foreclosures in Georgia and the U.S. is staggering. The State Foreclosure Prevention Functioning Group, which is made up of state banking regulators and attorneys general, released a report that reports, “Despite efforts of servicers, home owners, and the government, the foreclosure crisis continues to worsen. These signs point to far more foreclosures in 2010 than in 2009.”

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In response to the millions of foreclosures hitting the market, REDC ramped up operations to auction bank-owned residential residences and condos, commercial buildings and notes in a lot more than 47 states, each in live auctions and on the web. REDC is conducting a record 88 auctions in a 42-day span.

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Thousands of these foreclosures will modify hands through REDC’s auctions, which directly impacts the regional and national economy by helping to reduce the ramifications of one more financial crash. REDC auctions have emerged as a hot new trend in house acquiring and investing, regardless of whether it’s residential, commercial actual estate or notes.

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Market authorities refer to these new foreclosures as “shadow inventory” resulting from delays via a range of indicates, which includes national and state moratoriums, loan modifications, legal squabbling, re-defaults and bank issues. There is fear that the avalanche of new foreclosures will trigger an additional economic crisis.

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Considering that its launch in 1990, REDC has helped tens of thousands of households and people acquire residences for affordable rates by means of its unique auction approach, establishing the business as the international leader in actual estate auction marketing and advertising.

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REDC’s genuine estate auctions have gained tremendous appeal and reputation amongst buyers and sellers in todays industry, Frieden says. In truth, the real estate auction market now plays a major role in house sales in the U.S. As a result, REDC has helped make auctions a preferred decision more than traditional, time-consuming and high-priced genuine estate sales approaches.

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REDC’s headquarters are in Irvine, California with offices in Dallas, New York and London.

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Speak to:&#13

Rick Weinberg&#13

REDC Communications&#13

949-639-3558&#13

rickw(at)redcgroup(dot)com&#13

http://www.redcgroup.com&#13

http://www.auction.com

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Stop Mortgage Foreclosures with Loss Mitigation

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Jacksonville, FL (PRWEB) May possibly 6, 2010

Chief legal arbitrator, H. Hoover Hall, III of Harrison &amp Alexander, explains how an loss mitigation arbitrator can support homeowners compromise with lenders and locate a reasonable resolution for each parties concerning a mortgage foreclosure.

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Like millions of Americans, some homeowners may possibly be dangerously close to house foreclosure or facing the reality of those events already.

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Several may possibly think the only alternative is to throw in the towel and walk away from their property. Nevertheless, there are ways to save a residence from foreclosure, repair a low credit score, and commence rebuilding a anxiety-free of charge life when once again.

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Most home owners that are struggling with their mortgage or currently in foreclosure can not usually uncover resolutions on their own, which is why a loss mitigation arbitrator can be a beneficial asset in this fight.

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After Foreclosure&#13

There are many consequences of undergoing foreclosure that can have an effect on a homeowner’s life for years to come soon after foreclosure. The first and inevitable is a large hit to their credit score. Exactly how much harm this will lead to that homeowner, will rely on a assortment of aspects, but those events will stay a blight on one’s credit history for up to seven years, creating future loans, even those not associated to homeownership, all the much more difficult to obtain.

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What is worse is that if that homeowner listed any other properties as safety when applying for their original loan, the bank may have a right to seize those properties as effectively. Plus, that homeowner could also face further taxes on the former home.

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A loss mitigation arbitrator can aid the homeowner compromise with lenders and discover a reasonable answer for each parties.

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Loss Mitigation Arbitrators&#13

What is a Loss Mitigation Arbitrator and how can aid quit foreclosure? Nicely an arbitrator can represent consumers in criminal and civil litigation and other legal proceedings, draw up legal documents, and handle or advise consumers on legal transactions could specialize in a single region such as true estate or may possibly practice broadly in a lot of regions of law.

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An Arbitrator can advise clientele concerning enterprise transactions, claim liability, advisability of prosecuting or defending lawsuits, or legal rights and obligations. Interpret laws, rulings and regulations for folks and businesses. Analyze the probable outcomes of cases, making use of knowledge of legal precedents. Present and summarize situations to judges and juries.

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The education necessary to be an arbitrator is a J.D. (law degree) &amp the minimum formal education essential for this occupations. Couple this with an extensive skill, knowledge, and knowledge in the true estate field and you have a Loss Mitigation Arbitrator.

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Mortgage Foreclosures&#13

Many folks are not fully at fault for the risks that a lot of banks chose to take throughout the real estate boom. During the boom, loans became readily accessible and had been leant to these who were not truly certified, at some point the mortgage rates rose sharply as the business collapsed, which resulted in the existing immense amount of mortgage foreclosures.

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Lender greed does not cease there, nonetheless, and there are many unscrupulous businesses taking advantage of distressed home owners, offering fraudulent loan modifications that drive folks further into debt.

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It is critical to be cautious of any quick repair schemes or businesses that claim to be able to assist lessen loans.

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Loss Mitigation

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A loss mitigation arbitrator or an lawyer is the only genuinely certified specialist who can support a homeowner negotiate the terms of their loan and locate a plausible answer with regards to foreclosure. There are many ways one particular can strategy their case, like requesting reduced month-to-month payments and interest rates, changing an adjustable rate to a fixed rate, and permitting for payment extensions.

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It is in between the homeowner and the loss mitigation arbitrator to talk about which route will ideal suit that homeowner’s spending budget and life-style needs, as effectively as which the lender will uncover acceptable.

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A Loss Mitigation arbitrator is your best ally against foreclosure and they are price successful than an lawyer. You will want to seek the advice of with a certified expert very first in order to support you measure the charges against the potential gains right after negotiations are completed.

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Numerous men and women can benefit from the services of a loss mitigation arbitrator, but there are some cases exactly where foreclosure may be for the ideal.

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Study alternatives regarding achievable resolutions with mortgage foreclosure. Aside from in search of counsel from attorneys, also speak with a loss mitigation arbitrator to weigh all choices to attain the very best decision moving forward.

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Harrison &amp Alexander launched a new loss mitigation service in April 2010 to help homeowners quit forecloure &amp regain financial stability in their lives.

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Distressed Home owners Beware: Foreclosures Have Slowed, But Not For Lengthy

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Waltham, MA (PRWEB) December 11, 2010

McGeough Lamacchia Realty, Inc., New England’s top agency in Quick Sales, assisting distressed homeowners and their family transition respectfully to a path of economic stability and recovery, announces these days that regardless of the downward market – trends are showing indicators of improvement. McGeough Lamacchia Realty warns of not getting too complacent throughout the vacation season, if your home is in jeopardy of foreclosure.

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Each Fannie Mae and Freddie Mac have announced that they will suspend foreclosures and evictions from December 20th to January 3rd. Back in late August and via early October both Fannie Mae and Freddie Mac turned up the heat with foreclosures across the nation. Thousands of houses have been foreclosed on in the course of the six week period. Realtors across the nation strongly shared their concerns about banks not extending foreclosures in an effort to permit enough time for Brief Sales to close. Thousands of homeowners voiced concern following failed attempts at loan modification denials. Consumers were not presented sufficient time to navigate the newly defined waters of HAFA- Residence Affordable Foreclosure Alternative (program created to exit the property via Short Sale or Deed in Lieu of foreclosure). Millions of Americans, who attempted loan modifications and received denial notifications, virtually immediately received foreclosure dates.

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Soon after the “Robo Signing” debacle hit in October, it appears that the foreclosures have slowed down. It is eminent nonetheless, right after the holidays, foreclosures will drastically resume. Homeowners who can not afford their homes and who uncover themselves in a negative equity position (upside down) need to have to get aggressive and proactive right away. It is essential that customers do not delay due to the fact of the holidays. They want to aggressively pursue a loan modification, a short sale or a deed in lieu correct away. There are nevertheless too many complacent distressed home owners that are behind and have gotten used to the banks not enforcing the foreclosure and eviction. These days are gone.

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Final week Terrance Edwards, Executive Vice President of Fannie Mae, stated Fannie Mae is making use of a Single Track system in loss mitigation which means, they do not instruct servicers to pursue foreclosure if a borrower is functioning on a loan modification. Mr. Edwards accurately stated the fact that borrowers who pursue Loan Modifications, sooner rather than later, are far more likely to succeed. He is right about that and that is the very same case for Brief Sales. We know from our encounter that it is a lot simpler to perform on a Quick Sale when there is not a foreclosure date scheduled.

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At McGeough Lamacchia we take a proactive approach working with our consumers to move their house in a brief sale, allowing peace of mind in an otherwise pressure filled situation. It is our purpose to operate with distressed homeowners, clarify their possibilities and typically assist them in selling their properties with dignity via a Quick Sale, commented Anthony Lamacchia, Co-Broker and Owner, McGeough Lamacchia Realty, Inc. We have in depth bank contacts and over 85% of our Short Sales are approved, he went on to share.

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About McGeough Lamacchia Realty, Inc.&#13

A complete service Massachusetts real estate agency, at the moment specializing in Quick Sales. McGeough Lamacchias understanding of the Quick Sales procedure, deep relations with lenders, and understanding of the complicated and evolving government response to the mortgage crisis enables property owners to locate efficient and dignified solutions when selling their home. McGeough Lamacchia is based in Waltham, Massachusetts and serves Massachusetts, New Hampshire and Rhode Island. To find out more log onto, http://www.MLRealtyNE.com.

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Law Offices of Kramer and Kaslow: Michigan Court of Appeals Invalidates MERS Foreclosures

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Calabasas, CA (PRWEB) June 09, 2011

The State of Michigan Court of Appeals ruled in an unpublished opinion on Could ten, 2011 (No. 296668 Oakland Circuit Court LC No. 2009-104156-CH) that a firm known as Mortgage Electronic Registration Systems Inc. (MERS) did not have the correct to initiate foreclosure by advertisement on two homes simply because it didn’t really own any interest in the debt. MERS is an electronic database service utilized by a lot of lenders to maintain electronic records so that it is less difficult to buy, sell, and trade mortgages.

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According to Philip Kramer, a California lawyer and companion at the law firm of Kramer &amp Kaslow, If the selection is upheld or picked up by other courts it will invalidate any mortgage where a lender has utilised MERS. This could have an effect on millions of mortgages.

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When asked about the ruling, a spokesperson for MERS, primarily based in Reston, Va., declined to comment but referred people to a statement on their site:&#13

http://www.mersinc.org/newsroom/press_details.aspx?id=277

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A lot more analysis of the choice by Philip Kramer can be discovered at the Law Offices of Kramer and Kaslow weblog.

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Text of ruling:&#13

http://coa.courts.mi.gov/DOCUMENTS/OPINIONS/FINAL/COA/20110510_C296668_62_296668.OPN.PDF&#13

Text of post which initial talked about ruling:&#13

http://www.battlecreekenquirer.com/write-up/20110513/NEWS01/305130009/Michigan-appeals-court-ruling-could-erase-thousands-foreclosures?odyssey=tab|topnews|text|Frontpage&#13
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About Philip Kramer&#13

Philip 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 genuine property matters. He has prosecuted and defended cases for more than twenty 5 years.

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Mr. Kramer is a licensed real estate broker and has spent considerable time supplying legal services in connection with actual estate troubles relating to loan modification and loss mitigation, land use and zoning, environmental issues, easements, construction and development, 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 circumstances. He has appeared on nationally televised programs concerning pre-trial process and trial strategy 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 numerous legal and organization problems.

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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 many Boards of Directors and serves as an officer in several organizations. For much more details get in touch with (818) 224-3900 or go to http://kramer-kaslow.com

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Kramer and Kaslow: Utah Lawsuit Might Outcome in Less Foreclosures

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Calabasas, CA (PRWEB) June 13, 2011

Philip Kramer of the Law Offices of Kramer and Kaslow announced that the case of Corey v. Countrywide Bank FSB et al (Case number: two:2011cv00409) is getting heard right now in Utah District Court to decide no matter whether or not MERS could be used as a beneficiary in Utah foreclosure instances.

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Judge Dee Benson is presiding, and according to court documents, he has told the defendants, Bank of America (BAC) and ReconTrust (Parr Brown), that he believes, the existing federal court rulings (Rodeback, Burnett, etc.) in favor of MERS are negative law won by banks who have massive-firm attorneys who are generating legally unsound arguments and winning since the Plaintiffs Bar (homeowner-attorneys) have been outmatched by the bank attorneys, and have been producing the wrong legal arguments. Benson also went on to state on the record that he believes, MERS and securitization play a large role the foreclosure mess we are in.

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According to court documents, an attorney at the law firm representing the plaintiff in this case stated that, while there are no guarantees as to Judge Bensons ruling, he has essentially invited us to lay out the appropriate arguments for why MERS is not the beneficiary of a mortgage and for that reason lacks authority to carry out the actions that only a beneficiary (the Lender) can do under a mortgage (like substituting Trustee ReconTrust and commencing non-judicial foreclosure proceedings on behalf of Bank of America).”

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Consolidated plaintiff litigation attorney Philip Kramer, a senior partner at the firm of Kramer &amp Kaslow is watching the case closely. If the court guidelines that MERS is not a legal beneficiary, it strikes at the heart of many foreclosures. This may turn out to be a real turning point in the foreclosure crisis.

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More of Philip Kramers comments on the case could be found at the Kramer and Kaslow blog.

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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 business litigation, and actual house matters. He has prosecuted and defended situations for more than twenty 5 years.

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Mr. Kramer is a licensed actual estate broker and has spent considerable time delivering legal services in connection with genuine estate problems relating to loan modification and loss mitigation, land use and zoning, environmental problems, easements, construction and development, 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 attempted 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 various legal and business 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 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 many Boards of Directors and serves as an officer in many firms. For far more information get in touch with (818) 224-3900 or visit http://kramer-kaslow.com.

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Kramer and Kaslow: Reports Show Foreclosures Lead to Rise in House Defense Crimes

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Calabasas, CA (PRWEB) June 14, 2011

According to Philip Kramer, lead attorney for the Law Offices of Kramer and Kaslow, property defense crimes may possibly be on the rise. The lawyer cites a Might 19, 2011 New York Times report. The article reports that, on Jan. 19, 63-year-old Tanya Dennis hired a locksmith and broke into her South Berkeley residence. This practice has come to be recognized as residence defense. Home defenses are on the rise, Anthony Panarese, an organizer with the Alliance of Californians for Neighborhood Empowerment, a coalition of neighborhood groups, is quoted in the post.

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Sector analysts additional explain in the New York Occasions piece, The circumstance is exacerbated by Californias dual-track foreclosure law, which allows a lender to negotiate with a homeowner even though also continuing the foreclosure method. In a lot of circumstances, the bank doesnt recognize the homeowner has a modification pending or even approved, and the bank is continuing its foreclose procedure, said G. Marcus Cole, a Stanford University law professor.

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California-based, consolidated plaintiff litigation lawyer Philip Kramer, senior partner in the law firm of Kramer &amp Kaslow observes, I realize the impulse. The scenario is chaotic and unfair. In the end, this has to be resolved in the courts.

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Far more of Philip Kramers analysis can be identified at the Law Offices of Kramer and Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior companion 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 commercial litigation and trial advocacy, with a concentration on business litigation, and actual home matters. He has prosecuted and defended instances for over twenty 5 years.

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Mr. Kramer is a licensed genuine estate broker and has spent considerable time providing legal services in connection with actual estate concerns relating to loan modification and loss mitigation, land use and zoning, environmental problems, easements, construction 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 circumstances. He has appeared on nationally televised applications with regards to 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 numerous legal and enterprise issues.

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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 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 firms. For much more information get in touch with (818) 224-3900 or go to http://kramer-kaslow.com

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Kramer and Kaslow: Bank Probes Uncover Questionable Practices on Foreclosures

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Calabasas, California (PRWEB) June 14, 2011

Attorney Philip A. Kramer, senior companion of the Kramer &amp Kaslow law firm which is conducting consolidated plaintiff litigation lawsuits on behalf of hundreds of property owners, remarked on a recent expose of bank probes by the news internet site Propublica.

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Propublica is truly carrying out a public service with their investigations,” stated Philip Kramer. “I represent hundreds of clients who have been wronged by the banks. We have charged fraud, and conspiracy, calumny and deception, from leading to bottom. There is a lot of malfeasance going on, and other than our civil suits, there has been little or no judicial action. One thing has to be done and I am hopeful that Propublicas investigations may possibly help commence that process.

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Propublica journalist Marian Wang writes in a recent write-up, As we and many other folks have noted, no prime banking executives have been effectively prosecuted in connection with the financial crisis: not for making the poor loans that fed the mortgage machine, not for lying about the top quality of the mortgages, and not for foreclosing improperly when home owners struggled to make loan payments. But there have been several investigations. Some are still pending, other folks look to have fallen by the wayside. Heres our overview of what the banks have been accused of undertaking at every stage of the mortgage machine.

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Propublica compares the undesirable foreclosure procedure to a machine and argues that the initial step is risky lending and underwriting. Philip Kramer agrees. “If you look at any of the cases we filed, for example, take a appear at: Maxam v. Bank Of America (case No: 30-2011-00450819-CU-MT-CXC), youll see that we already know a fantastic deal about the banks misbehavior. The query is, When will judicial and regulatory bodies catch on?

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Propublica breaks down the bank practices foreclosure crisis into five regions:

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1)

Kramer and Kaslow: California Investigates Florida Firm that Processes Foreclosures for Major Banks

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Calabasas, CA (PRWEB) June 16, 2011

Lead attorney at the Law Offices of Kramer and Kaslow, Philip Kramer, is weighing in on a recent Los Angeles Times report relating to the California attorney general’s investigation of foreclosure practices. The Los Angeles Times is reporting that state Atty. Gen. Kamala Harris subpoenas documents from Lender Processing Services Inc.

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The post says that, California Atty. Gen. Kamala D. Harris is investigating an obscure Florida firm that processes foreclosures for a lot of of the nation’s significant monetary institutions, as she intensifies her examination of repossession practices in the Golden State.

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According to the L.A Times, The state’s top law enforcement officer subpoenaed Lender Processing Services Inc. of Jacksonville, Fla., a organization that handles loans in default on behalf of numerous main banks. The subpoena calls for LPS to generate documents and offer written answers to queries from the attorney general’s office by June 24.

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“California homeowners have been exposed to fraud and crime at each and every step of the mortgage procedure,” Attorney Common Harris said in the LA Occasions article. “Justice demands we come to their help, and a key step in that is to investigate robo-signing and the prospective for inaccurate or unjust foreclosures.”

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In the article, Harris emphasized that California property owners could have fallen victim to robo-signers who didn’t confirm the accuracy of the documents they had been placing their names on and, in some situations, failed even to study the documents. Typically, folks signed thousands of times a day, she mentioned.

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In her statement, Harris warned that the dangers posed by robo-signing are “particularly unsafe” in non-judicial foreclosure states such as California, as there is no judicial oversight of the foreclosure approach.

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Philip A. Kramer, a California-based attorney whose consolidated plaintiff litigation lawsuits are difficult six of the nations major banks thinks Harris is on the appropriate track. As I have prosecuted hundreds of situations on behalf of my clients, robo-signing is a fraudulent bank practice that happens so typically that I have almost come to believe that a non-robo-signed bank document might be the exception rather than the rule.

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A lot more of Philip A. Kramers observations could be located at the Kramer and Kaslow blog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior companion 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 business litigation, and true property matters. He has prosecuted and defended circumstances for over twenty five years.

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Mr. Kramer is a licensed true estate broker and has spent considerable time providing legal services in connection with true estate problems 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 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 instances. He has appeared on nationally televised programs regarding pre-trial procedure and trial technique 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 various legal and business problems.

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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 many Boards of Directors and serves as an officer in several businesses. For a lot more info contact (818) 224-3900 or check out http://kramer-kaslow.com

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Kramer and Kaslow: Wall Street Journal Reports that Banks Hit Hurdle to Foreclosures

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Calabasas, CA (PRWEB) June 17, 2011

Philip Kramer, lead attorney for Kramer Kaslow, not too long ago released comments concerning a Wall Street Journal post detailing the foreclosure crisis. Sheila Bair, chairman of the Federal Deposit Insurance coverage Corp., is quoted in the article from her testimony to a Senate committee final month. “Flawed mortgage-banking processes have potentially infected millions of foreclosures, and the damages against these operations could be considerable and take years to materialize,” said Blair.

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The post also reports that last month, the Maine Supreme Court reversed the foreclosure of Dana and Robin Murphy of Auburn, Me., soon after concluding that the mortgage company, a unit of HSBC Holdings PLC, filed “inherently untrustworthy” documents. An HSBC spokesman declined to comment.

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The Wall Street Journal reports that, This year, cases in California, North Carolina, Alabama, Florida, Maine, New York, New Jersey, Texas, Massachusetts and other folks have raised inquiries about regardless of whether banks effectively demonstrated ownership.

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Philip A. Kramer, a perennial winner of the Southern California Super Lawyer award represents hundreds of consolidated plaintiff litigation clients who have filed suit against the nations six largest lenders. He comments, I believe that the Maine Supreme Court is appropriate. I also believe that the difficulty is widespread universal.

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Laurence E. Platt, a banking-market lawyer at K&ampL Gates in Washington, concedes in the write-up that banks might have been sloppy. But he says, “the genuine assault on the legal program,” are efforts by judges and regional officials to strip lenders of their rightful ownership and make foreclosures impossible.

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Philip A. Kramer could not disagree a lot more strongly. If Laurence Platts point of view prevails, then we may possibly as well not have laws. That is not an exaggeration. There are rules and procedures which govern how property is supposed to bought and sold. Ownership is at the heart of the issuance of mortgages and foreclosures. It is not okay for the banks to claim, Oh, proof of ownership? Paperwork? These dont genuinely matter. The banks have been receiving away with murder. Finally, it seems to be coming to an finish.

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Far more of Philip A. Kramers comments can be found at the Kramer 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 commercial litigation and trial advocacy, with a concentration on company litigation, and actual property matters. He has prosecuted and defended situations for over twenty 5 years.

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Mr. Kramer is a licensed genuine estate broker and has spent considerable time delivering legal solutions in connection with genuine estate concerns relating to loan modification and loss mitigation, land use and zoning, environmental troubles, easements, building 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 tried in excess of 200 circumstances. He has appeared on nationally televised applications relating to pre-trial process and trial technique 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 company 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 dedicated to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in several businesses. For a lot more info contact (818) 224-3900 or pay a visit to http://kramer-kaslow.com

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Brookstone Law, Computer: New Federal Repair Poses Dangers for Victims of Loan Mismanagement and Wrongful Foreclosures by Banks

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Newport Beach, CA (PRWEB) November ten, 2011

Even though aggrieved home owners ensnared by a foreclosure technique riddled with misconduct could get their first shot at receiving resolution from the banks, homeowners need to not assume their rights will be protected by the not too long ago announced federally mandated settlements, according to Vito Torchia, Jr., managing attorney of Brookstone Law Pc.

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According to current media coverage, fourteen mortgage servicers acting under orders from federal regulators have begun mailing out letters to possible victims of wrongful foreclosure practices inviting borrowers to submit their circumstances for a free of charge evaluation by independent consultants that are funded by the lenders but vetted by regulators.

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There are substantial issues with this so-called solution, the most essential of which is that the regulators have not released data about how they will establish how much to compensate borrowers discovered to have been foreclosed on improperly, said Vito Torhia, Jr. It funds a multi-million dollar national marketing campaign for the banks and it isn’t clear regardless of whether borrowers will have to give up rights to additional claims if they are compensated in some way.

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According to media coverage, mortgage servicers that agreed clean up their foreclosure practices and compensate victims incorporate JPMorgan Chase Bank, Bank of America Corp., Citibank and Wells Fargo &amp Co. Each mortgage servicer is necessary to mail one letter to every customer eligible for the assessment and about 70% of these potentially slated to obtain letters are still in their properties. The letters will go out to homeowners who had been in foreclosure in 2009 and 2010, a period identified by regulators as the peak of foreclosure misconduct. In addition to the mailings, an marketing campaign will begin shortly to get the word out to individuals potentially harmed by the errors.

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The banks have to send only one particular letter and they admit that completely thirty percent of these to whom they plan to send letters are not in their homes, which means numerous thousands who may possibly get aid will not even know about it, mentioned Vito Torchia, Jr. Homeowners who do not have expert legal counsel are likely to not get the settlements they deserve or and thousands are not even going to know about their opportunity to settle.

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Media coverage indicates that bank regulators claim the system will aid make certain that mortgage servicers provide proper compensation to borrowers who suffered economic harm as a outcome of improper practices.

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Its effortless for federal regulators with no skin in the game to throw out claims about how they are helping property owners victimized by the blunders of the banks and lenders, mentioned Vito Torchia, Jr. But it is obvious those without expert support are in the greatest jeopardy of losing an chance for a fair resolution — whether they get a single of the offer you letters or not.

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According to media coverage, the system is the initial tangible action to result from widespread revelations final year that banks made quite a few errors when foreclosing on troubled borrowers. Amongst other troubles, mortgage servicers employed so-named robo-signers, folks who signed foreclosure documents without having getting certified to sign or properly reviewing them, and foreclosed on homes from men and women even though they have been becoming actively reviewed for loan modifications.

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Now that the lenders are clearly admitting their culpability in widespread misconduct in mortgage loan due diligence, management and foreclosure, they are seeking to reduce their liability as considerably as feasible at the expense of shoppers. It is critical to note that more than 2 million individuals will lose their properties next year so this program barely scratches the surface of what they need to do to support these they have harmed, stated Vito Torchia, Jr.

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Media coverage also contains indications that the plan proposed by federal regulators could detract from ongoing efforts by state attorneys basic to a settlement with the nation’s largest banks more than faulty foreclosure and mortgage servicing practices making it tougher for states to assist homeowners hurt by the banks and the foreclosure crisis. Those negotiations continue even even though some states have voiced concern over the path of the talks and California has dropped out of them altogether.

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“There is no query, based on the design and intent of this system that federal regulators are more concerned about banks’ bottom lines than no matter whether banks follow the rules,” mentioned Vito Torchia, Jr. “It will be impossible to fix these troubles without costing the banks a excellent deal of funds, so there is wonderful concern about compromise options that favor banks more than property owners.”

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ABOUT BROOKSTONE LAW, Computer&#13

Headquartered in Newport Beach, Calif., and with offices in Los Angeles, Calif., and Ft. Lauderdale, Fla., Brookstone Law, Computer is a law firm comprised of attorneys with experience and accomplishment in business, corporate and private finance, employment, entertainment and media, art and museum, intellectual home and genuine estate law. The firm has a network of much more than 40 affiliate attorneys nationwide and employs extremely trained specialists, paralegals, paraprofessionals and administrative staff committed to serving clients. For information, get in touch with (800) 946-8655 or pay a visit to the Brookstone Law.com net web site at http://www.brookstonelaw.com.

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