Newport Beach, CA (PRWEB) December 13, 2010
Brookstone Law, Computer, is expanding its civil litigation division and is involved in investigations of the situations all through the nation exactly where actions against buyers have exposed banks unlawful lending practices.

Among those investigations is assistance for the present high-profile foreclosure case in New Jersey in which a Bank of America spokesperson revealed the Banks unlawful administration of loan documents with subsidiary Countrywide Property Loans. The revelation potentially brings into question the ownership of millions of properties that could lead to Bank of America getting liable for billions of dollars in inherited negative loans.

In testimony just before the Home Economic Solutions Committees hearings November 17 on Issues in Mortgage Servicing from Modification to Foreclosure, Georgetown University Law Center Professor Adam Levitin described the potentially devastating implications of the case by saying, If these legal troubles are resolved differently, then there would be a failure of the transfer of mortgages into securitization trusts, which would cloud title to nearly each house in the United States and would create contract recession/putback liabilities in the trillions of dollars, tremendously exceeding the capital of the USs key economic institutions.

The bungled defense by Bank of America in this case is another instance of a trend of rulings against Banks primarily based on a constant lack of legal documentation in mortgage foreclosures, mentioned Vito Torchia, Jr., managing attorney of Brookstone Law. This was a case exactly where the witness told the truth and we all got a appear behind the curtain. Unlawful documentation practices are only one particular of the several obstacles against customers and it is important that these practices are coming to light. The reality that the revelation was by the Banks spokesperson offers it considerable credibility, regardless of the Banks subsequent statements.

The case is In the Matter of John T. Kemp, Kemp v. Countrywide Residence Loans Inc., 08-02448, U.S. bankruptcy Court for the District of New Jersey (Camden).

About Brookstone Law, Pc 
Primarily based in Los Angeles, with offices in Newport Beach, CA, and Ft. Lauderdale, FL, Brookstone Law, Computer, is a law firm comprised of attorneys with experience and success in business, corporate and personal finance, employment, entertainment & media, art & museum, intellectual house and true estate law. The firm has a network of a lot more than 40 affiliate attorneys nationwide and employs highly trained specialists, paralegals, paraprofessionals and administrative employees dedicated to serving our consumers. For details, get in touch with (800) 946-8655 or check out http://www.brookstone-law.com.

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