Kramer & Kaslow Attorney Philip A. Kramer Weighs in on Government Loan Modification Controversy

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Kramer-Kaslow: Congresswoman Zoe Lofgren’s web site is hosting a PDF report detailing the experience of homeowners’ attempts to obtain a loan modification.

While no imminent legislation is in sight, the California Democratic Congressional Delegation did send a letter to Attorney General Eric Holder that concludes among other things, “It’s clear that even after promising to work with borrowers, and receiving government incentives to do so, financial institutions are simply stringing the American people along. After reviewing thousands of complaints from our constituents, it appears that we aren’t dealing with isolated incidents and that a pattern of misconduct and obstruction is present.”

When asked for a comment about the report, noted attorney Philip Kramer explained, “The system as it is set up now simply does not work. There is no accountability. There are no significant rewards or punishments. The lenders have every incentive to fall short. They do not disappoint in this regard.”

Given the scope of the problem, it seems likely that something is going to have to be done to address the situation, but legislators are locked in partisan battle, and it seems likely that for the time being homeowners in trouble are going to have to struggle with the banks or seek redress in the courts.

“It’s an unfortunate situation,” Philip Kramer comments, “But I don’t see anything changing for the better any time soon.”

PHILIP A. KRAMER is the senior partner of the Law Office 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 commercial litigation and trial advocacy, with a concentration on business litigation, and real property matters. He has prosecuted and defended cases for over twenty five years.

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

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 cases. He has appeared on nationally televised programs 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 frequently lectures on a broad spectrum of various legal and business issues.

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 professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in many companies. For more information call (818) 224-3900 or visit


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