The Law Offices of Kramer and Kaslow: A New Foreclosure Trend - Homeowners Take Banks’ Property

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Kramer Law: Philip Kramer weighs in on homeowners turning the tables on lenders.

Kramer & Kaslow

Philip Kramer, lead attorney for Kramer Kaslow, recently commented on the New York Times coverage of the reverse foreclosure trend. According to the New York Times article, a new trend may be starting in the foreclosure crisis: homeowners foreclosing on lenders. The New York Times reports, “Owners of a house in Florida have engineered a reverse foreclosure against a bank. That makes two so far this year.”

The article says that earlier this year, Patrick Rodgers, a “goth and industrial music” event promoter in Philadelphia became miffed because his mortgage lender, Wells Fargo, was making him carry what he deemed excessive insurance on his house. Using the Real Estate Settlement Procedures Act to his advantage, he filed suit and wound up with a sheriff’s notice authorizing the sale of the contents of a Wells Fargo branch.

The New York Times reports on another couple who did battle with their lender – and won, “A couple in Naples, Fla., have “foreclosed” on a Bank of America branch after the bank managed to foreclose on their home — even though they never had a mortgage on it.”

According to reports in The Naples News, Time and elsewhere, “Warren Nyerges and his wife paid $165,000 in cash to buy the house from the bank, and never borrowed against it. But last February, in an apparent case of mistaken home identity, the bank began foreclosure proceedings against them.”

The couple hired a lawyer and the bank action was eventually abandoned, but the couple then went to court and got a judgment for about $2,500 in attorney’s fees.

When the bank didn’t pay, their lawyer, Todd Allen, showed up at a local bank branch last week with sheriff’s deputies and a moving truck to begin cleaning out the building. Not long after, the bank paid them more than $5,700, to cover the fees and additional costs.

Attorney Philip A. Kramer, senior partner at the Kramer& Kaslow law firm represents hundreds of consolidated litigation plaintiff clients who are suing banks for wrongful foreclosure practices. “Stories like these are great fun,” says Kramer, “but it’s important to keep in mind that these minor skirmishes do nothing to prevent the large-scale abuse of homeowners by lenders. We can all have a good chuckle at this, but we can’t lose sight of just how serious it is when powerful banking institutions wrongfully attempt to take people’s homes.”

More of Philip Kramer’s comments can be found at the Law Offices of 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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