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

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Philip Kramer from the Law Offices of Kramer and Kaslow weighs in on the latest Huffington Post report about Obama's foreclosure relief plan.

Kramer & Kaslow

Philip Kramer, lead attorney for the Law Offices of Kramer and Kaslow, recently commented on a Huffington Post article reporting that President Obama’s failure to resolve the housing crisis is causing unemployment to rise.

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 whole economy into a double-dip recession if strong action isn't taken immediately."

The Huffington Post goes on to state, “The connection between the foreclosure crisis and rampant unemployment is well known by economists and the administration. Diving home values and heavy debt burdens force cutbacks in both consumer spending and tax revenue for local governments. These reduced spending levels and lower government revenues force layoffs in both the public and private sector. And those layoffs, in turn, spur more foreclosures.”

According to the article, “on Thursday, President Barack Obama warned House Democrats in a private meeting that the housing situation could drag down the entire economy. One House Democrat who was in the meeting complained that the president ‘said housing was the main thing dragging down the economy, with Geithner nodding solemnly like they'd done everything humanly possible for the last 27 months to fix the housing market.’”

Phil Kramer, a noted Southern California attorney who represents hundreds of consolidated litigation plaintiff clients suing six of the nation’s largest banks for wrongful foreclosure actions sees it differently. “I do not think the administration’s efforts have been adequate.” Kramer states. “The program is voluntary, and if my clients are any indication, then the program is an unmitigated disaster. I have hundreds and hundreds of clients who have been wronged by the banks – many of them over a very long period of time. The government programs have done nothing to assist these people, and as a result the overall economy is suffering the consequences.”

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

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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Stuart R. Simone, Esquire
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