Kramer and Kaslow: Short Sale Process Leads to "Mental Torture" According to Homeowners

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The Law Offices of Kramer and Kaslow: Philip Kramer Weighs in on Short Sale Process

Kramer & Kaslow

Philip Kramer, lead attorney at the Law Offices of Kramer and Kaslow recently commented on new foreclosure stories reported in the New York Times. According to a New York Times article, Melanie Brown of Teaneck, New Jersey says that dealing with banks for a short-sale or loan modification is “mental torture”.

In the article, Ms. Brown says she spent over two and a half years “at the hands of bankers and their computerized bureaucracy.” “They would demand information, and then delay any response, demand and delay, over and over,” said Ms. Brown, 42, a school administrator, about her lender, Bank of America, and its Equator software system. “I got to feel like a mouse that a cat just kept smacking around.”

The New York Times spoke with the president of the Mortgage Bankers Association in New Jersey, Maria Guillermina Chaux,who readily conceded. “It does happen in this market that even good borrowers wind up being penalized by lenders,” said Chaux.

Philip Kramer, a senior partner at the law firm of Kramer & Kaslow comments, “The way lenders do business, they are their own worst enemies. Because the various lenders’ procedures are so byzantine and because there is no individual who is responsible for a particular homeowner’s situation, files get passed around, data gets lost, and the incompetence ruins lives and destroys our economy.”

More of Philip Kramer’s thoughts can be found at the Kramer and Kaslow blog.

ABOUT PHILIP KRAMER
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 http://kramer-kaslow.com

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Stuart R. Simone, Esquire