Calabasas, California (Vocus/PRWEB) April 18, 2011
Philip Kramer has filed a mass joinder lawsuit against JP Morgan Chase (CHASE) (Belmont v. Chase, Superior Court of California, Superior Court of Los Angeles, case number: BC455629) in what is potentially the most substantial and precedent-setting legal action taken against lenders as a outcome of the national foreclosure crisis, it was announced nowadays by Philip Kramer, Esq. of Kramer & Kaslow.

The firm has filed suit on behalf of a mass joinder of plaintiffs looking for damages and injunctive relief as a outcome of what Mr. Kramer calls the bank’s fraud and numerous violations of Nearby, State, and Federal customer protection laws. Mr. Kramer says that relief is getting sought for fraud, to quit the illegal sale of plaintiffs residences, to force the bank to cease and desist from their outrageous conduct, as properly as to seek compensatory damages on behalf of the plaintiffs.

Mr. Kramer says that the lawsuit alleges CHASE perpetrated a massive fraud, also constituting unfair competition upon borrowers that devastated the values of their residences, resulting in the loss of net worth even as CHASE enriched itself by knowingly promoting economic instruments based on a value the bank knew to be unwarranted. The lawsuit alleges that CHASE further intended to deprive quite a few rights and remedies for the problems they triggered the borrowers and believes that the harm done to the plaintiffs is exceeded only by the scale of the banks conduct, as asserted in the plaintiffs suit.

According to court documents, the lawsuit claims the bank disregarded underwriting requirements and implemented a massive fraud that was concealed from borrowers and other mortgagees on an unprecedented scale. The lawsuit alleges that, as a outcome of the banks actions, borrowers lost equity in their homes, their credit ratings and histories were destroyed and they incurred unnecessary fees and costs.

Mr. Kramer says that the lawsuit challenges the fraudulent and illegal use of MERS in connection with the loans and mortgages, as well as the defendants alleged failure to perform their obligations pursuant to accepting TARP funds.

I am convinced that for the initial time that aggrieved property owners are going to get a fighting chance, says attorney Philip Kramer. Till now, the banks have had their way, employing and abusing the system at the expense of distressed home owners across the nation. Now, soon after years of abusing homeowners and the greater public, the bank bullies are acquiring a great stiff legal punch in the nose.

ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior partner of the Law Workplace 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 actual house matters. He has prosecuted and defended instances for over twenty 5 years.

Mr. Kramer is a licensed real estate broker and has spent considerable time offering legal services in connection with real estate issues relating to loan modification and loss mitigation, land use and zoning, environmental concerns, 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 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 subjects ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of numerous legal and enterprise 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 several Boards of Directors and serves as an officer in a lot of businesses. For far more details get in touch with (818) 224-3900 or go to http://kramerlaw2.com.

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