Tag Archives: Relief

Accountable Debt Relief Announces Pathbreaking Housing Counseling and Mortgage Modification Assessment Technique

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Rochester, New York (PRWEB) October 31, 2011

Dr. Robert D. Manning, distinguished consumer finance scholar (author of CREDIT CARD NATION and hyperlink to http://www.creditcardnation.com) and founder of the nonprofit Accountable Debt Relief (RDR) Institute, announced the release of his companys pathbreaking, on the web mortgage underwriting, house refinancing, and housing counseling assessment technique final week in Salt Lake City, Utah. Throughout his luncheon address at the Utah Housing Coalition conference, Dr. Manning, 1 of the earliest forecasters of the Customer-Led Recession and collapse of the US housing marketplace, reported on the current state of the U.S. economy, the perilous situation of the housing market, and the failure of the banking market to adjust to the realities of current risk-management requirements.

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According to Dr. Manning, public policy-makers created the fatal mistake of assuming that the 2007 recession was propelled by a standard company-cycle that would final 3 or four years rather than a consumer debt bubble that would demand drastic household debt relief by means of loan forgiveness and low-interest loans. The problem is that economic institutions have not adjusted to the new reality of their faulty underwriting strategies. Individually-primarily based FICO scores and associated retrospective financial measures are much less trustworthy assessments of customer economic capability in the existing atmosphere of consumer credit scarcity. As a outcome, banks are reluctant to supply loans to creditworthy households that have encountered economic difficulty throughout this turbulent financial period.

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Throughout his presentation, Dr. Manning asserted that a new paradigm for assessing household credit capability should be explored if the nation is to keep away from a deeper and much more prolonged recession. Otherwise, fewer mortgage and loan applications will be authorized which will reinforce falling housing prices and lead to far more households abandoning their upside-down mortgages. Dr. Manning then explained the key attributes of the RDR net money-flow algorithm/software program that calculates net, soon after-tax household revenue based on such aspects as federal, state and local taxes, household structure, tax filing status, regional cost of living, property ownership status, federal authorized deductions such as retirement and charitable contributions, and court-mandated payments such as youngster help and garnishments.

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This proprietary algorithm is the basis of a webservices-primarily based data management program whereby lenders, counselors, and person buyers can conduct a preliminary, on-line assessment of the affordability of a mortgage modification, property loan, and even an auto loan.

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Following the presentation, Dr. Manning demonstrated the ease and speed in making use of the RDR online financial assessment systembeginning with a price range assessment based on the net cash-flow computer software. The assessments can be calculated for people and for households. The unique Credit Capacity score gives a swift assessment of the financial situation of a household. Similarly, the on the web mortgage underwriting, property loan modification, and auto loan assessments estimates the size of the loan that is inexpensive, whether the borrower must qualify for a prime or subprime loan, and the total expense of the loan. Moreover, RDR delivers a distinctive tenant screening score that estimates whether or not a person that has knowledge economic distress such as foreclosure or bankruptcy can afford a specific rent with out getting rejected due to a low FICO score.

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Dr. Manning concluded that, in the short-term, the pace of the US financial recovery will depend on the stabilization of the housing marketplace. Without having new risk management tools to a guide recently foreclosed and/or bankrupt households into the rental housing market place and far more precise underwriting tools that are not dependent on flawed FICO scores, the US will face a decade of declining economic prosperity and widening social inequality.

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For a lot more about RDR, its pathbreaking net money-flow tools, and Dr. Manning, please contact us at 585-563-7675.

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Brookstone Law, Pc: Obama’s Housing Strategy Is a Red Flag for Property owners Looking for Relief

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Newport Beach, CA (PRWEB) November 05, 2011

Though the Obama administrations recent efforts to assist home owners could bring relief to millions who owe a lot more than their houses are worth, the measures getting regarded as by Washington are clearly made to benefit banks more than homeowners, according to Vito Torchia, Jr., managing attorney of Brookstone Law, Pc.

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The Presidents proposal is purely political and will possibly enhance spending a lot more than avert foreclosures. He intends to placate the Banks at the expense of homeowners who clearly need to have loan modifications, which banks have been reluctant to provide, stated Vito Torchia, Jr.

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According to media coverage, the collapse of the housing industry has left an estimated 11 million Americans owing more on their mortgages than their houses are worth. Although about 70% of those borrowers have loans with interest prices higher than are available today, their lack of collateral prevents them from refinancing into new, much more cost-effective loans.

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It is becoming increasingly apparent that home owners with out expert legal counsel are going to have to deal directly with banks that are empowered by the government to supply solutions not most likely to give home owners what they need to have, mentioned Vito Torchia, Jr.

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Current media coverage shows that though a reduction in monthly payments could avert some property owners who aren’t in default these days from going into foreclosure, experts anticipate an estimated two.2 million borrowers to shed their properties in 2012.

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If the Presidents plan is intended to support property owners who are beneath water, assisting the Banks while pushing more than two million people over the cliff is clearly the incorrect way to do it, said Vito Torchia, Jr.

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According to media coverage, lenders could reduce their losses significantly by modifying mortgages to reduced the month-to-month payments of defaulting borrowers, but Banks are doing so due to the fact it lowers their bottom line income.

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There’s no shortage of home owners whose property values and incomes have collapsed via no fault of their own even though lenders claim there is a moral problem in bailing out borrowers who can’t pay off their debts. This is ludicrous taking into consideration the Banks pushing of toxic loans, then regularly victimizing hardworking people all through the nation trying to hold their residences as has been effectively documented in the media, mentioned Vito Torchia, Jr. This clearly shows the Banks dont care about customers, who need to have powerful counsel in order to safeguard their rights when dealing with the Banks.

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Recent media coverage has incorporated reports that FannieMae, FreddieMac and most national banks have refused to participate in a California system that delivers to spend half the price of principal reductions for lower- and moderate-revenue home owners with a demonstrable hardship, such as a extreme illness or a layoff.

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If they wont help low income property owners with hardships, it is apparent they wont aid other property owners suffering from the toxic loans, lack of due diligence and wrongful foreclosures for which the banks are initially accountable, said Vito Torchia, Jr. Home owners attempting to save their houses are at greater risk than ever of not being capable to repair the troubles brought on by the banks that threaten them with the loss of their residences.

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According to media coverage, state prosecutors from about the nation are pursuing mortgage fraud claims against the key banks and might persuade them to commit billions of dollars to writing off some of the debt owed by borrowers.

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Fannie and Freddie, which have already been rescued by Washington, want to support homeowners beneath water, but if their consistent leaning towards a solution that rewards the banks at the further expense of home owners continues the victimization of millions of men and women in our country who are just trying to hold their properties, stated Vito Torchia, Jr.

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ABOUT BROOKSTONE LAW, Pc&#13

Headquartered in Newport Beach, Calif., and with offices in Los Angeles, Calif., and Ft. Lauderdale, Fla., Brookstone Law, Pc is a law firm comprised of attorneys with expertise and success in organization, corporate and personal finance, employment, entertainment and media, art and museum, intellectual house and actual estate law. The firm has a network of a lot more than 40 affiliate attorneys nationwide and employs extremely educated specialists, paralegals, paraprofessionals and administrative employees devoted to serving clientele. For data, call (800) 946-8655 or visit Brookstone Law.com (http://www.brookstonelaw.com).

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Industrial Loan Workout Offers Welcome Relief to Troubled California Golf Course

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San Diego, CA (PRWEB) March 16, 2011

Breakwater Equity Partners, a consulting firm specializing in commercial loan workouts, announced nowadays the effective restructuring of Peacock Gap Nation Club and Spa, a 50-year old golf course positioned in San Rafael, CA. Foreclosure on the 137 acre, 18-hole golf course was averted when a new investor bought the defaulted note from the lender, Nara Bank.

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The home was previously owned by Peacock Gap Properties, who purchased it in 2005 for $ ten million with plans to make key improvements to the golf course and clubhouse. The owner took out an further loan for $ six million from Los Angeles based Nara Bank to perform the upgrades in 2007. Following completing the golf course makeover the economy and the genuine estate marketplace took a financial tumble. With the steep drop in golf revenues, the owner started to struggle. By 2008 Nara Bank refused to give funding for the clubhouse renovation. This led to the cancellation of occasion contracts and memberships at the club, causing additional financial distress.

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With the asset under serious threat from the bank, the property owner sought out the knowledge of Breakwater Equity Partners. Right after a thorough examination and evaluation of the financials, neighborhood market situations, and the propertys bankruptcy and litigation exposure, Breakwater Equity Partners executed a workout strategy. That technique leveraged significant litigation claims (including a lawsuit alleging damages of far more than $ 20 million against the lender), a Chapter 11 bankruptcy filing, and the deal economics.

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A lot of individuals have been caught off guard by the sudden collapse of the economy and real estate industry. I know we werent the only ones hit challenging, said George Lee, preceding Common Manager of Peacock Gap CC. We have in depth knowledge in the hospitality business and thought we could ride it out. We felt we had strong, personal relationships with our bank and tried to perform with them. We heard about Breakwater and engaged their services. Our bankers of 30 years would not listen to us, but Breakwater instantly got their consideration. They got us an extraordinary resolution that I think no 1 else could.

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With the leverage of substantial litigation and the stress of a Chapter 11, Breakwater Equity Partners worked with a White Knight investor who bought the note on terms favorable to the client and acceptable to the bank. In the finish the loan was crammed down from around $ 12 million to $ three.four million, a reduction of 71%. Subsequently, the ownership of Peacock Gap was transferred right after bankruptcy court confirmation of the reorganization.

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Peacock Gap is a beautiful house and we are delighted with this outcome, stated Phil Jemmett, CEO of Breakwater Equity Partners. We believe that the local neighborhood will be extremely pleased with the stewardship of the new owner. Breakwater is actively performing commercial workouts nationwide across all asset classes, but completing a exercise on a golf course like Peacock Gap demands specialized understanding, as golf courses are a specialty asset with exclusive attributes. Several golf courses are in problems, either in foreclosure, bankruptcy proceedings or behind on their loan payments. Golf course owners are now facing tough challenges and do not know how to resolve their economic difficulties. In many instances, a loan exercise may possibly be the answer to their ultimate survival.

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About Breakwater Equity Partners&#13

Breakwater Equity Partners is a privately-owned actual estate consulting firm located in San Diego, CA, supplying industrial loan workout methods and negotiation services to house owners and investors all through the U.S. The Breakwater group, consisting of authorities in finance, banking, true estate and law, has worked on over 175 commercial loan workouts throughout the US, with deep encounter in a wide variety of genuine estate classes, including workplace, industrial, retail, multi-family, mixed use, master-planned communities, residential and land development, golf courses, and farming operations. Breakwater also specializes in Tenant-in-Widespread loan workouts. For more details on Breakwater Equity Partners, please contact 858-490-3630 or go to http://www.breakwaterequity.com. Study our weblog at http://www.breakwaterequity.com/weblog

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Media Make contact with&#13

Victoria Cunningham&#13

victoria(at)breakwaterequity(dot)com&#13

858-490-3630 x112

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National Lead Service Revises Equotegrabbers Tax Debt Relief Efforts

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Laguna Niguel, CA (Vocus/PRWEB) April 07, 2011

National Lead Service Inc., a solutions oriented provider of on the internet advertising and marketing programs to the financial services industries, announced these days its overhaul of their tax debt relief program. Weve decided to revamp our tax relief efforts. With the economy receiving worse people have taken care of their mortgage, loan modification and unsecured debt amounts but are left with the realization that they cant mess around with Uncle Sam, said managing companion, Michael Dukes.

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Altering their B2C site Equotegrabbers approach to offering tax debt relief, they have focused their advertising and marketing efforts on the customer and have come out with a solid plan to provide private tax debt help. More than the past five years National Lead Service has worked cautiously to restructure their system and come up with an efficient method. Buyers are now in a position to visit the new tax network and get more than a single quote from top quality and trusted sources.

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This economy has left folks with tax liens and unpaid IRS tax debt and it is no secret that the IRS does not give up when it comes time to gather. Obtaining revenue tax debt is not one thing that most Americans want to live with. Equotegrabber has joined up with numerous best lawyer networks handling tax debt relief. They have done a major restructuring of their program and are now ready to give good quality help for these in want.

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It can be a extremely challenging procedure dealing with the IRS, understanding their guidelines and policies. National Lead Service is quite confident that you can uncover all of the individual tax debt help you need to have by filling out 1, easy form. The easiest strategy is letting a professional take more than and handle the stresses entailed with resolving your tax debt.

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For tax relief aid, advice, and contact with qualified experts prepared to assist, please keep connected with Equotegrabber turn out to be a fan on Facebook at http://www.facebook.com/equotegrabber and follow us on Twitter at http://www.twitter.com/equotegrabber.

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Joseph Pozzuolo and Jeff Pozzuolo, Estate Preparing Attys. Will Conduct a Penn State CLE/CPE: The Fundamentals Of Estate Tax Arranging After The 2012 American Taxpayer Relief Act

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(PRWEB) June 16, 2013

The Law Firm of Pozzuolo Rodden, P.C., Philadelphia Estate Preparing Attorneys, announces the upcoming Penn State seminar titled: “The Basics of Estate Tax Planning After The American Taxpayer Relief Act of 2012 on Thursday, June 20, 2013. If you would like to study a lot more of what the seminar will cover, please read the full description on the Pozzuolo Rodden, Computer net web site under Seminars: http://www.pozzuolo.com

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The Fundamentals of Estate Tax Organizing Right after The American Taxpayer Relief Act of 2012

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By: Joseph R. Pozzuolo, Esquire and Jeffrey S. Pozzuolo, Esquire &#13

Pozzuolo Rodden, P.C.

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Where: Penn State University Cooperative Extension&#13

Neshaminy Manor Center&#13

1282 Almshouse Rd&#13

Doylestown, PA 18901-2896

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When:

Chinese Drywall Complaint Center Demands Mortgage Relief For Florida & Gulf States Home owners Stuck In Chinese Drywall Hell

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(PRWEB) May possibly 18, 2011

The Chinese Drywall Complaint Center says, “The imported toxic Chinese drywall disaster in areas like Florida, Alabama, Mississippi, Louisiana, Virginia, and Southeast Texas is the worst man created environmental disaster to ever hit the US, and unless someone methods up to the plate pretty soon, its just going to get worse for every person. Everybody contains the completely innocent property owners, who would have by no means knowingly bought a toxic Chinese drywall home. Everyone also includes entirely innocent young children of homeowners stuck in these toxic Chinese drywall residences.” The group says, “We believe it is insanity for main US banks, or loan servicers to continue to pretend that the toxic Chinese drywall environmental disaster is just going to go away on its own. Unless these residences are effectively remediated, the disaster by no means goes away, it just festers, and it gets worse.” They say, “We think the time has come for key US banks, and loan servicing businesses to step up to the plate to aid these property owners. Meaningful support for property owners stuck in a toxic Chinese drywall residence in Florida, Alabama, Mississippi, Louisiana, Virginia, and Southeast Texas would involve a substantial loan modification, along with what is known as a 203-K mortgage. The exclusive function of a 203-K mortgage system is it permits for a buy price, and remediation built into the mortgage item.” http://ChineseDrywallComplaintCenter.Com

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The Chinese Drywall Complaint Center says, “In places like Lee County, Florida, the Assessors Office has some toxic Chinese drywall homes valued at the land price only. The actual residence, or condo is worth zero. We feel this must be a enormous wake up get in touch with to all main US banks, or mortgage loan servicers. Do the pension funds, or investors know their securitized mortgage is worth practically zero?” They also say, “At the exact same time we are horrified with the prospects of Florida true estate flippers buying toxic Chinese drywall foreclosures, and then performing a low finish remediation-doomed to fail, or even worse, no remediation on the foreclosure, and then spinning the home to a new buyer, usually from out of state, or who has never heard of toxic Chinese drywall prior to. Is anybody in city, county, state, or the federal government remotely worried about any of this? Are the Fed’s ever going to show up to the toxic Chinese drywall disaster?” http://ChineseDrywallComplaintCenter.Com

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The Chinese Drywall Complaint Center is saying, “Toxic Chinese drywall foreclosures can be excellent investments, if the investors, or property purchaser understands what they are doing, and the vital aspect of a suitable residence remediation. Even so, if the investor, or purchaser fails to do it proper, the residence eventually becomes an additional foreclosure. We are carrying out everything achievable to change the Florida toxic Chinese drywall foreclosure flipper quick buck, or go inexpensive mentality into anything sane. But, it truly is time for major US banks, and loan servicers to show up, by assisting current homeowners stuck in toxic Chinese drywall hell, and or insuring that toxic Chinese drywall foreclosures go by way of a rigorous remediation prior to they are permitted to be mortgaged to a new house purchaser, or investor.” http://ChineseDrywallComplaintCenter.Com

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The Law Offices of Kramer and Kaslow: Justice Division Alleges Massive Banks Violated Servicemembers Civil Relief Act

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Calabasas, CA (PRWEB) June 14, 2011

Philip Kramer, lead lawyer for the Law Offices of Kramer and Kaslow is sharing his thoughts on the recent settlement between the Justice Division and two of the nation’s largest banks. The New York Instances reports on a settlement agreement in between the Justice Department and two banks accused of violating the Servicemembers Civil Relief Act, a federal law that extends an array of monetary and legal protections to military personnel.

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According to the New York Instances, The Justice Department announced on Thursday that it had simultaneously filed and settled lawsuits against the two firms a subsidiary of Bank of America formerly recognized as Countrywide Property Loans Servicing, and Saxon Mortgage Services, a subsidiary of Morgan Stanley.

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The New York Instances goes on to report, The organizations have been accused of knowingly and repeatedly violating the Servicemembers Civil Relief Act, a federal law that extends an array of financial and legal protections to military personnel. Particularly, the organizations had been accused of ignoring a provision of the law that necessary them to get court orders before foreclosing on active-duty service members.

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Countrywide Home Loans failed to protect and respect the rights of our servicemembers, failed to comply with clearly mandated procedures and foreclosed against property owners who are valiantly serving our nation, Andr

The Law Offices of Kramer and Kaslow: How Failed Obama Foreclosure Relief Plan Contributes To Jobs Crisis

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Calabasas, CA (PRWEB) June 17, 2011

Philip Kramer, lead attorney for the Law Offices of Kramer and Kaslow, not too long ago commented on a Huffington Post report reporting that President Obamas failure to resolve the housing crisis is causing unemployment to rise.

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In the article, Preeti Vissa, community reinvestment director of the Greenlining Institute, a foreclosure relief advocacy group was quoted as saying “This is an emergency. The ongoing foreclosure crisis is well on the way to dragging the complete economy into a double-dip recession if robust action isn’t taken immediately.”

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The Huffington Post goes on to state, The connection between the foreclosure crisis and rampant unemployment is nicely recognized by economists and the administration. Diving residence values and heavy debt burdens force cutbacks in each customer spending and tax revenue for nearby governments. These decreased spending levels and reduced government revenues force layoffs in each the public and private sector. And those layoffs, in turn, spur far more foreclosures.

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According to the article, on Thursday, President Barack Obama warned Property Democrats in a private meeting that the housing circumstance could drag down the entire economy. One particular House Democrat who was in the meeting complained that the president mentioned housing was the major factor dragging down the economy, with Geithner nodding solemnly like they’d completed everything humanly feasible for the final 27 months to fix the housing market.

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Phil Kramer, a noted Southern California lawyer who represents hundreds of consolidated litigation plaintiff customers suing six of the nations biggest banks for wrongful foreclosure actions sees it differently. I do not believe the administrations efforts have been adequate. Kramer states. The plan is voluntary, and if my consumers are any indication, then the system is an unmitigated disaster. I have hundreds and hundreds of clientele who have been wronged by the banks many of them over a very lengthy period of time. The government programs have completed nothing to assist these folks, and as a result the overall economy is suffering the consequences.

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Far more of Philip A. Kramers observations can be found at the Kramer and 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 organization litigation, and real home matters. He has prosecuted and defended situations for over twenty five years.

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

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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 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 frequently lectures on a broad spectrum of various legal and company 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 previous president of the Los Angeles West Inns of Court, a national organization devoted to bringing professionalism and civility back into the legal profession. He also serves on quite a few Boards of Directors and serves as an officer in a lot of firms. For more data contact (818) 224-3900 or pay a visit to http://kramer-kaslow.com

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California Property owners Nonetheless in Require of Mortgage Relief Despite Current Lawyer Basic Settlement

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Roseville, CA (PRWEB) June 11, 2012

In spite of the recent settlement with the States Attorneys Common, UFAN Legal Group, Computer (UFAN) continues to see important interest in litigation against Bank of America and the other significant banks participating in the settlement. Despite the settlement, several California home owners continue to stay without relief.

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UFAN filed its very first complaint against Bank of America on August 17, 2011 in Sacramento Superior Court (case # 34-2011-00109314). Yet another case was filed against the Bank in February, 2012 in Alameda County (case # HG62616744). Both of these instances target alleged fraud in the origination of loans, Bank of Americas improper servicing of borrowers loans, and other claims mainly concerned with contract law. UFAN is now preparing to amend its most recent suit to contain much more borrowers, similarly situated with existing plaintiffs, who are left without relief.

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Recent news headlines feature a key settlement in between the States Attorneys Basic and four significant banks, which includes Bank of America. Whilst Bank of America, through this settlement, agreed to a big cash payout both to participating states and specific groups of distressed borrowers, a lot of borrowers continue to be left without relief. For example, the settlement does not cover homeowners whose mortgages are owned by government sponsored entities like Fannie Mae and Freddie Mac, according to media reports. Reportedly, these loans make up much more than 60% of California home owners, and the settlement itself will only apply to about 250,000 California home owners.

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Whilst the settlement precludes particular new actions by state officials against participating banks, it does not limit private lawsuits filed on behalf of property owners. UFAN continues to fight for the rights of distressed homeowners who have been injured by the poor enterprise practices of Bank of America, and who have been left with out assistance despite governmental efforts.

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If you believe you may possibly have been injured by your lender, UFAN provides complementary lawyer consultations to help distressed property owners in assessing possible choices for relief including, but not limited to, litigation and bankruptcy. Click right here for a consultation.

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ABOUT THE UNITED FORECLOSURE Lawyer NETWORK

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UFAN Legal Group, Pc dba United Foreclosure Attorney Network (UFAN) is a Roseville, California-based law firm offering mortgage litigation and other debt related legal services. The dedicated attorneys and staff at UFAN work tirelessly to seek justice and fight for the rights of its clients. For far more information contact toll totally free 1-866-400-4242.

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This release may constitute lawyer advertisement. Kristin Crone, Esq. is the attorney responsible for this advertisement. The details in this release and on the UFAN internet site (ufanlaw.com) is for general information purposes only. Absolutely nothing in this release or on the UFAN internet site should be taken as legal advice. Prior successes are no assure of future efficiency. Litigation is inherently uncertain and benefits in litigation are in no way assured.

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Wells Fargo Borrowers in California Nonetheless in Require of Mortgage Relief Regardless of Current Lawyer Basic Settlement

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Roseville, California (PRWEB) June 14, 2012

Though settlement was reached recently with the States Attorneys Common, UFAN Legal Group, Pc (UFAN) continues to see important interest in litigation against Wells Fargo and the other key banks participating in the settlement. Despite the settlement, numerous California property owners continue with no relief.

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UFAN filed its initial complaint against Wells Fargo on September 1, 2011 in Sacramento Superior Court (case quantity 34-2011-00110146). The case targets alleged fraud in the origination of loans, Wells Fargos improper servicing of borrowers loans, and other claims mostly concerned with contract law.

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The Judicial Counsel of California lately agreed to coordinate this case with yet another related case pending in Los Angeles (Mireles v. Wells Fargo, Case No. BC467652, filed August 16, 2011). All similarly situated Plaintiffs now bring claims collectively. Likely, there will be an chance to add more Plaintiffs with similar claims.

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Recent news headlines feature a significant settlement in between the States Attorneys General and 4 major banks, such as Wells Fargo. While Wells Fargo, via this settlement, agreed to a big money payout both to participating states and particular groups of distressed borrowers, numerous borrowers continue to be left without having relief. For example, the settlement does not cover homeowners whose mortgages are owned by government sponsored entities like Fannie Mae and Freddie Mac, according to media reports. Reportedly, these loans make up more than 60% of California homeowners, and the settlement itself will only apply to about 250,000 California home owners.

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Although the settlement precludes certain new actions by state officials against participating banks, it does not limit private lawsuits filed on behalf of home owners. UFAN continues to fight for the rights of distressed homeowners who have been injured by the poor enterprise practices of Wells Fargo, and who have been left with no assistance despite governmental efforts.

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If you think you may have been injured by your lender, UFAN delivers complementary lawyer consultations to assist distressed property owners in assessing possible alternatives for relief like, but not restricted to, litigation and bankruptcy. Click right here to make contact with UFAN.

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ABOUT THE UNITED FORECLOSURE Attorney NETWORK

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UFAN Legal Group, Pc dba United Foreclosure Attorney Network (UFAN) is a Roseville, California-primarily based law firm providing mortgage litigation and other debt related legal services. The committed attorneys and staff at UFAN operate tirelessly to seek justice and fight for the rights of its consumers. For more information call toll free 1-866-400-4242.

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This release may possibly constitute lawyer advertisement. Kristin Crone, Esq. is the attorney accountable for this advertisement. The information in this release and on the UFAN internet site (ufanlaw.com) is for basic details purposes only. Practically nothing in this release or on the UFAN web site ought to be taken as legal suggestions. Prior successes are no guarantee of future overall performance. Litigation is inherently uncertain and benefits in litigation are by no means assured.

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