Monthly Archives: September 2014

Vermonts Captive Insurance Industry Celebrates 30th Anniversary. Captive Insurance Law Signed in 1981

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Montpelier, VT (PRWEB) June 08, 2011

The 30th anniversary of the signing of Vermonts captive insurance legislation will be celebrated in Burlington led by Governor Peter Shumlin at a reception in the historic Union Station on Burlingtons waterfront. The event is co-hosted by the State of Vermont and the Vermont Captive Industry Association (VCIA). Former Governor Jim Douglas will also be in attendance for the event.

I am delighted to invite the captive insurance industry to join us in celebrating three decades of service that has resulted in Vermonts leadership position as a domicile, said Governor Shumlin. Governors and legislatures since the signing of the law have come together to support this industry, and I am pleased that former governor Jim Douglas will join me on this special occasion.

Vermonts captive insurance law has been called the gold standard by trade press for its consistency in keeping pace with the changing needs of the industry over the past thirty years and it has been used by other domiciles as a model of regulation. Captive insurance is a regulated form of self insurance that has existed since the 1960s and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act. Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk.

Captives are typically used for corporate lines of insurance such as property, general liability, products liability, or professional liability. Growth sectors of the captive insurance industry include securitization, professional medical malpractice coverage for doctors and hospitals, and the continued trend of small and mid-sized companies forming captive insurance companies.

The 30th anniversary Vermont captive insurance event will be held on Wednesday, June 22 from 4:30 to 6:30 p.m. in downtown Burlington’s historic Union Station. Sponsors of the event include Primmer Piper Eggleston & Cramer PC, Paul Frank + Collins Attorneys at Law, and Downs Rachlin Martin PLLC.

Vermont is the largest captive insurance domicile in the U.S. and the third largest in the world, with an excess of $ 25 billion in gross written premium in 2010. Vermont is also home to 42 of the companies that make up the Fortune 100 and 18 of the companies that make up the Dow 30.

For more information on Vermonts captive industry, visit VermontCaptive.com or call Dan Towle at 802-828-5232 or email Dan.Towle(at)state(dot)vt(dot)us.

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Kramer and Kaslow: Utah Lawsuit May Result in Less Foreclosures

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Calabasas, CA (PRWEB) June 13, 2011

Philip Kramer of the Law Offices of Kramer and Kaslow announced that the case of Corey v. Countrywide Bank FSB et al (Case number: 2:2011cv00409) is being heard today in Utah District Court to determine whether or not MERS may be used as a beneficiary in Utah foreclosure cases.

Judge Dee Benson is presiding, and according to court documents, he has told the defendants, Bank of America (BAC) and ReconTrust (Parr Brown), that he believes, the existing federal court rulings (Rodeback, Burnett, etc.) in favor of MERS are bad law won by banks who have big-firm attorneys who are making legally unsound arguments and winning because the Plaintiffs Bar (homeowner-attorneys) have been outmatched by the bank attorneys, and have been making the wrong legal arguments. Benson also went on to state on the record that he believes, MERS and securitization play a big role the foreclosure mess we are in.

According to court documents, an attorney at the law firm representing the plaintiff in this case said that, while there are no guarantees as to Judge Bensons ruling, he has essentially invited us to lay out the proper arguments for why MERS is not the beneficiary of a mortgage and therefore lacks authority to perform the actions that only a beneficiary (the Lender) can do under a mortgage (including substituting Trustee ReconTrust and commencing non-judicial foreclosure proceedings on behalf of Bank of America).”

Consolidated plaintiff litigation attorney Philip Kramer, a senior partner at the firm of Kramer & Kaslow is watching the case closely. If the court rules that MERS is not a legal beneficiary, it strikes at the heart of many foreclosures. This may turn out to be a real turning point in the foreclosure crisis.

More of Philip Kramers comments on the case may 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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Law Offices of Kramer and Kaslow: New York Bank Investigation Could Leave Banks Facing Charges

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Calabasas, CA (PRWEB) June 13, 2011

The Law Offices of Kramer and Kaslow is weighing in on a new report from the New York Times that claims that the New York attorney general is investigating large banks for alleged wrongdoing. According to the May 16 New York Times article, The New York attorney general has requested information and documents in recent weeks from three major Wall Street banks about their mortgage securities operations during the credit boom, indicating the existence of a new investigation into practices that contributed to billions in mortgage losses.

Recently elected New York Attorney General Eric T. Schneiderman declined to comment but according to people briefed on the matter who were not authorized to speak publicly, Eric T. Schneidermans office have also requested meetings with representatives from Bank of America, Goldman Sachs and Morgan Stanley.

The article also spoke with Daniel C. Richman, a professor of law at Columbia. Part of what prosecutors have the advantage of doing right now, here as elsewhere, is watching the civil suits play out as different parties fight over who bears the loss, said Richman. Thats a very productive source of information.

Noted attorney Philip Kramer, senior partner at the law firm of Kramer & Kaslow whose consolidated litigation plaintiffs have been suing banks for their foreclosure practices agrees with Richman, A lot of wrongdoing has been uncovered in civil cases. What is particularly interesting about the New York Attorney Generals approach is that they seem to have picked up on some of the issues we have used in our suits: fraud and greed in the securitization process being key elements.

More of Philip Kramers comments can be found at the Law Offices of 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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Kramer and Kaslow: Bank Probes Uncover Questionable Practices on Foreclosures

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Calabasas, California (PRWEB) June 14, 2011

Attorney Philip A. Kramer, senior partner of the Kramer & Kaslow law firm which is conducting consolidated plaintiff litigation lawsuits on behalf of hundreds of homeowners, remarked on a recent expose of bank probes by the news site Propublica.

Propublica is really doing a public service with their investigations,” said Philip Kramer. “I represent hundreds of clients who have been wronged by the banks. We have charged fraud, and conspiracy, calumny and deception, from top to bottom. There is a lot of malfeasance going on, and other than our civil suits, there has been little or no judicial action. Something has to be done and I am hopeful that Propublicas investigations may help start that process.

Propublica journalist Marian Wang writes in a recent article, As we and many others have noted, no top banking executives have been successfully prosecuted in connection with the financial crisis: not for making the bad loans that fed the mortgage machine, not for lying about the quality of the mortgages, and not for foreclosing improperly when homeowners struggled to make loan payments. But there have been many investigations. Some are still pending, others seem to have fallen by the wayside. Heres our overview of what the banks have been accused of doing at each stage of the mortgage machine.

Propublica compares the bad foreclosure process to a machine and argues that the first step is risky lending and underwriting. Philip Kramer agrees. “If you look at any of the cases we filed, for example, take a look at: Maxam v. Bank Of America (case No: 30-2011-00450819-CU-MT-CXC), youll see that we already know a great deal about the banks misbehavior. The question is, When will judicial and regulatory bodies catch on?

Propublica breaks down the bank practices foreclosure crisis into five areas:

1)

Kramer Law: Congressional Oversight Panel Weighs in on Robo-Signing

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Calabasas, California (PRWEB) June 19, 2011

The Law Offices of Kramer and Kaslow released comments from lead attorney Philip Kramer regarding the latest Huffington Post article on the findings of the Congressional Oversight Panel. According to the article, the Congressional Oversight Panel, a federal watchdog created to keep tabs on the bailout, says that the “robo-signing of affidavits served to cover up the fact that loan servicers cannot demonstrate the facts required to conduct a lawful foreclosure. In essence, banks may be unable to prove that they own the mortgage loans they claim to own,” the panel said.

The article also quotes Sheila Bair, the chairman of the Federal Deposit Insurance Corporation. Blair said at a Senate panel last month that “flawed mortgage banking processes have potentially infected millions of foreclosures. The extent of the loss cannot be determined until there is a comprehensive review of the loan files and documentation of the process dealing with problem loans,” she added.

The Huffington Post reports that despite that appraisal, Bair, along with Treasury Secretary Timothy Geithner and Shaun Donovan, secretary of Housing and Urban Development, have said they want a quick settlement.

Philip A. Kramer, a Southern California attorney whose law firm Kramer & Kaslow has launched half a dozen consolidated plaintiff litigation suits against banks for such behavior commented. Of course they want to settle this quickly,” said Kramer. “If the wrongdoing by the banks is looked at closely, if it is looked at systemically, I suspect that it may well turns out there are are hundreds of thousands of loans, perhaps millions and that is not an exaggerated number for which the banks simply do not have the proper paperwork to legally foreclose, much less prove ownership.

According to the Huffington Post article, Kramers views are getting some serious support as the Attorneys General of all 50 states look into the matter. The article says that New York Attorney General Eric Schneiderman has been particularly aggressive and has targeted Bank of America, the biggest U.S. bank by assets, in a new probe that questions the validity of potentially thousands of mortgage securities and their associated foreclosures, two people familiar with the matter said.

The Huffington Post reports that, The inquiry could prove explosive: Wall Street’s great mortgage securitization machine took millions of home loans and bundled them into securities for sale to investors. If the legal steps that guide securitization — like taking mortgage documents from one party to another, a critical step under New York law — were not undertaken, then the investors who bought the bundled loans could force the companies to buy them back, compelling them to eat enormous losses.

Philip Kramer is quick to point out that there is another conclusion to Schneidermans investigations. If the New York Attorney General finds that those securities aren’t valid financial instruments at all they could take action under state law. They may end up awarding the homes to the borrowers because the banks cannot prove ownership.

More of Philip Kramers comments 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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Kramer Law: Congressional Oversight Panel Weighs in on Robo-Signing

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Calabasas, California (PRWEB) June 19, 2011

The Law Offices of Kramer and Kaslow released comments from lead attorney Philip Kramer regarding the latest Huffington Post article on the findings of the Congressional Oversight Panel. According to the article, the Congressional Oversight Panel, a federal watchdog created to keep tabs on the bailout, says that the “robo-signing of affidavits served to cover up the fact that loan servicers cannot demonstrate the facts required to conduct a lawful foreclosure. In essence, banks may be unable to prove that they own the mortgage loans they claim to own,” the panel said.

The article also quotes Sheila Bair, the chairman of the Federal Deposit Insurance Corporation. Blair said at a Senate panel last month that “flawed mortgage banking processes have potentially infected millions of foreclosures. The extent of the loss cannot be determined until there is a comprehensive review of the loan files and documentation of the process dealing with problem loans,” she added.

The Huffington Post reports that despite that appraisal, Bair, along with Treasury Secretary Timothy Geithner and Shaun Donovan, secretary of Housing and Urban Development, have said they want a quick settlement.

Philip A. Kramer, a Southern California attorney whose law firm Kramer & Kaslow has launched half a dozen consolidated plaintiff litigation suits against banks for such behavior commented. Of course they want to settle this quickly,” said Kramer. “If the wrongdoing by the banks is looked at closely, if it is looked at systemically, I suspect that it may well turns out there are are hundreds of thousands of loans, perhaps millions and that is not an exaggerated number for which the banks simply do not have the proper paperwork to legally foreclose, much less prove ownership.

According to the Huffington Post article, Kramers views are getting some serious support as the Attorneys General of all 50 states look into the matter. The article says that New York Attorney General Eric Schneiderman has been particularly aggressive and has targeted Bank of America, the biggest U.S. bank by assets, in a new probe that questions the validity of potentially thousands of mortgage securities and their associated foreclosures, two people familiar with the matter said.

The Huffington Post reports that, The inquiry could prove explosive: Wall Street’s great mortgage securitization machine took millions of home loans and bundled them into securities for sale to investors. If the legal steps that guide securitization — like taking mortgage documents from one party to another, a critical step under New York law — were not undertaken, then the investors who bought the bundled loans could force the companies to buy them back, compelling them to eat enormous losses.

Philip Kramer is quick to point out that there is another conclusion to Schneidermans investigations. If the New York Attorney General finds that those securities aren’t valid financial instruments at all they could take action under state law. They may end up awarding the homes to the borrowers because the banks cannot prove ownership.

More of Philip Kramers comments 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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Marabella Commercial Finance, Inc. Originates Permanent Financing for a 1031 Net Leased Walgreen Pharmacy and Kohls Department Store in Second Quarter 2011

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Carlsbad, CA (PRWEB) June 21, 2011

Marabella Commercial Finance, Inc. originates permanent financing for a 1031 Net Leased Walgreen Pharmacy and Kohls Department Store.

Marabella Commercial Finance, Inc. funded a $ 4.8 million loan for the Kohls corporate leased department store. The Buyer for this transaction was involved in a 1031 exchange transaction. The Borrower requested a long fixed rate loan term and amortization. Marabella Commercial Finance, Inc. arranged a Life Company loan with a 15 year fixed rate and 25 year amortization giving the borrower a more manageable balloon payment in the fifteenth year with excellent cash flow. The Borrower wanted a forward rate lock so Marabella Commercial Finance, Inc. structured an approximate 90 day forward rate lock and the rate was locked early in the process at 5.875%. This loan was Non-Recourse with Standard Carve-Outs. Marabella negotiated an annual non-cumulative partial prepayment of ten percent (10%) of the outstanding loan balance without a prepayment premium. This loan was applied for on around March 18, 2011 and funded on June 15, 2011.

For the Walgreen Corporate leased pharmacy Christian S. Marabella of Marabella Commercial Finance, Inc. met with the Borrower at Marabellas satellite office in Beverly Hills, California and structured a Bank Portfolio Loan which will give the Borrower a lot of flexibility in the future if they need to work with the bank for any reason versus that of a securitized loan where the loan is sold to bond investors on Wall Street. The loan amount that was required per the 1031 Exchange came to $ 5,500,000 (Upleg). The rate on this loan was a very low 5.35% and again Marabella Commercial Finance, Inc. negotiated a 90 day forward rate lock on behalf of the clients. The amortization for this loan was 30 years and the loan was due and payable in the 10th year. The Borrowers also requested a Non-Recourse loan with standard carve-outs which was structured. A highlight of this loan was the very friendly prepayment penalty of only $ 2,500 during the first nine years of loan term again giving the Borrowers a lot of flexibility if they consider refinancing or selling the property to a new purchaser in the 10 year period. This loan was applied for on around March 15, 2011 and funded on June 15, 2011.

About Marabella Commercial Finance

Marabella Commercial Finance specializes in arranging financing for 1031 Exchange Net Lease Buyers, Commercial Investment Properties and Large Anchored Centers. Past Credit Tenant Net Lease Properties that Marabella Commercial Finance has originated loans for are; Walgreens, CVS, Kohls, Safe-Way Stores, Rite Aid, Jack in the Box, 7-Eleven, Family Dollar, CSK Automotive, and Large Anchored Centers with credit tenants. MCF is a member of the Mortgage Bankers Association and most recently participated in the International Council of Shopping Center’s 2011 annual convention in Las Vegas. Christian S. Marabella who is President of Marabella Commercial Finance, Inc. is also in charge of Media Relations for the Association of Commercial Real Estate Executives Inland Empire (Ontario, California).

Contact:

Christian S. Marabella – President

Marabella Commercial Finance

We Finance America’s 1031 Exchange Net Lease Properties

(760) 479-0800

Email: nnn(at)marabellafinance(dot)com

http://www.marabellafinance.com

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Gainesville Coins Announces, The Celebrate Our Right to Own Precious Metals Promotion

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(PRWEB) June 24, 2011

Gainesville Coins Announces, The Celebrate Our Right to Own Precious Metals Promotion Friday, June 24, 2011

In light of the concerns raised by the Dodd-Frank Law, Gainesville Coins will discount Shipping on all orders of Bullion Gold and Silver bought between June 24th and July 15th.

Gainesville Coins has been receiving a number of inquiries regarding the impact of the Dodd-Frank financial overhaul bill on the silver and gold market. Specifically, we have been asked whether the legislation has any similarity to the U.S. governments actions in 1933 that removed gold coins from circulation and made it illegal for U.S. citizens to own gold. The Dodd-Frank legislation DOES NOT impact the individual investors ability to own gold and silver.

The impact of the Dodd Frank legislation on the precious metals market is to restrict the ability of brokerages from providing investors the ability to trade in over the counter (OTC) futures, including gold and silver futures.

There are two venues to trade derivatives, including futures the over the counter derivatives market, and the exchange traded derivatives market. Over the counter derivatives are traded off an exchange. For precious metals investors, the CME is the main exchange for gold and silver derivatives, including futures and option. The legislation only impacts those trades that DO NOT occur on an exchange. Futures and options that trade on an exchange are not affected.

In an OTC futures transaction, the buyer and seller enter into an agreement to buy or sell gold at a predetermined price, quantity, and date. The difference between an OTC futures contract and an exchange traded futures contract is that in a OTC transaction, these terms are not standardized. Like exchange traded derivative contracts, OTC contracts have margin requirements set to ensure that both parties will perform on their obligation to either buy or sell. However, unlike exchange traded futures, these transactions are not centrally cleared. This means that a failure to perform by one side of the transaction could result in economic harm to the other side of the transaction. This is known as counterparty risk. Futures traded on an exchange, like the CME, do not subject either party to counterparty risk, and this is the reason for the changes being made through the Dodd Frank legislation.

During the financial crisis of 2008, OTC derivatives, specifically OTC derivatives tied to BBB tranches of subprime mortgages caused a near total financial meltdown when AIG was unable to perform on its obligation. AIG had written hundreds of billions of dollars in OTC credit default swaps on BBB tranches of subprime mortgage securitizations. When these securities went down in value on the housing market implosion, AIG did not have sufficient cash to pay the buyers of this insurance. This is one of the main reasons for the Dodd-Frank Legislation. Because these derivative contracts were over the-counter, and not centrally cleared, AIGs failure to perform on its obligation raised the possibility of a cascade of financial failures. The Federal Government was ultimately forced to intervene to stop the financial contagion. Removing the risk of counterparty failure, and thus moving much of the OTC derivatives market onto an exchange, is one of the key drivers behind this legislation.

With all that said, hopefully with some clarity, Gainesville Coins would like to re-iterate that there IS NO IMPACT on individuals ability to own gold or silver. The only impact is on the ability of an individual to buy gold and silver in the OTC market. There is no change to gold and silver futures traded on an exchange.

Finally, it should be noted that there are exceptions to this legislation. For example, if you can qualify as a Qualified Eligible Participant (QEP), you are exempt from this legislation. For example, to qualify as a QEP, you would need to show a net worth of $ 1 million in assets. Also if you can prove that you can satisfy the obligations created by an OTC futures transaction within 28 days, you would also be exempt. It is up to each brokerage house to determine whether an individual investor qualifies under these exemptions. As a final note, the Dodd-Frank legislation only impacts leveraged or margined OTC transactions. These changes go into effect on July 15th, 2011.

When ordering use this promo code: owngold360

Buy Online 24/7 at http://www.GainesvilleCoins.com

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Foreclosure Decision Supports Information in New Book for Troubled Homeowners

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Eugene, OR (PRWEB) July 13, 2011

A decision handed down on May 31, 2011 in the case of Herrera v. Deutsch in the California 3rd District Appellate Court in El Dorado, case number C065630, has massive implications for homeowners facing foreclosure. The court ruled that the documents provided by the defendants, Deutsch Bank National Trust Company, and the California Reconveyance Company, were insufficient to prove that that bank had interest in in the property, and thus the right to foreclose and sell the home. This ruling has established an important case law for California about foreclosure and lender’s standing to foreclose. Results for this case can be found at http://www.westregion.com/Title%20Insurance%20Pages/Cases/Opinions/Herrera_v_DeutscheBank.pdf

Author of the Foreclosure Defense Guidebook, Vince Khan, says, This is a great victory for homeowners facing foreclosure in California. In his book, Khan explains, in plain English, the banking worlds claim, or lack thereof, on the housing market. He tells his own story of challenging his lenders, empowering himself and everyone who seeks his guidance to look for alternatives, even when it looks as if none exist. In Foreclosure Defense Guidebook, Khan discusses the legality of the foreclosure process and how banks play off consumer ignorance to take houses which arent actually theirs.

Khan felt it important to release this book in paper format to give even more people access to this information. The people who need this help the most may not have the luxury of a computer with which to read this book.

Foreclosure Defense Guidebook can be purchased on Vince Khans website for $ 12.99 and on Amazon.com. An ebook version is available on the website for no cost. For more information or to speak with Khan, please contact him at the address below.

About the Author:

Vince Khan was where millions of other Americans have found themselves recently: foreclosure. He lost his money in two start-up ventures and was unable to make house payments. Searching for a solution, he began researching foreclosures and the specific issue of bank securitization. He compiled his thousands of hours of research into his book, Foreclosure Defense Guidebook: An Easy to Understand Guide to Saving Your Home from Foreclosure.

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