Calabasas, California (Vocus/PRWEB) April 17, 2011
Philip Kramer has filed a mass joinder lawsuit against A single West/IndyMac (1 West) (Marquette v. One particular West, Superior Court of California, Superior Court of Los Angeles, case quantity: BC 452 266) in what is potentially the most substantial and precedent-setting legal action taken against lenders as a result of the national foreclosure crisis, it was announced today by Philip Kramer, Esq. of Kramer & Kaslow.

The firm has filed suit on behalf of a mass joinder of plaintiffs searching for damages and injunctive relief as a result of what it says is the bank’s fraud and a number of violations of Nearby, State, and Federal customer protection laws. Relief is becoming sought for fraud, to cease the illegal sale of plaintiffs homes, to force the bank to cease and desist from their outrageous conduct, as nicely as to seek compensatory damages on behalf of the plaintiffs.

Mr. Kramer says that the lawsuit alleges 1 West perpetrated a enormous fraud, also constituting unfair competition upon borrowers that devastated the values of their residences, resulting in the loss of net worth even as 1 WEST enriched itself by knowingly selling financial instruments based on a worth the bank knew to be unwarranted. The lawsuit also alleges that A single WEST further intended to deprive several rights and remedies for the difficulties they triggered the borrowers and believes that the harm accomplished 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 enormous fraud that was concealed from borrowers and other mortgagees on an unprecedented scale. The lawsuit alleges that, as a result of the banks actions, borrowers lost equity in their houses, their credit ratings and histories were destroyed and they incurred unnecessary costs and expenditures.

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

I am convinced that for the initial time that aggrieved home owners are going to get a fighting likelihood, says attorney Philip Kramer. Till now, the banks have had their way, employing and abusing the program at the expense of distressed property owners across the nation. Now, following years of abusing homeowners and the greater public, the bank bullies are obtaining a excellent 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 enterprise litigation, and real home matters. He has prosecuted and defended instances for more than twenty five years.

Mr. Kramer is a licensed actual estate broker and has spent considerable time offering legal solutions in connection with true estate issues relating to loan modification and loss mitigation, land use and zoning, environmental troubles, easements, building and development, 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 instances. He has appeared on nationally televised programs relating to 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 regularly lectures on a broad spectrum of a variety of legal and enterprise troubles.

Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing back professionalism and civility into the legal profession. He also serves on quite a few Boards of Directors and serves as an officer in many organizations.

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