Attorney Chases Justice in Foreclosure Crisis

Philadelphia, PA: Got to hand it to attorney John Narkin. He's got this foreclosure crisis occurence figured out—well, pretty well as anyone can figure it out. The 113-page class-action suit on behalf of distraught homeowners submitted by Narkin's firm, BHN Law in Philly, lays out the whole sorry story in amazing detail, complete with links to video clips.

Attorney Chases Justice in Foreclosure CrisisIn addition to demanding that famed culprits in the lending business pay up for the pain they caused, BHN in addition comes at a low level hard on a law enduring this worked with Wells Fargo, N.A., Countrywide, and others. It describes the firm in the documents submitted as "a foreclosure mill" with a Gordon Gecko "greed is good" attitude.

"Obviously this is a national disgrace," says Narkin, whose firm specializes in hunting down boogie men engaged in everything according to securities fraud to consumer protection law.

"The tentacles of the foreclosure mess are amazing," says Narkin. "The mess created by predatory lending is one thing, but consider also what an awful possession collateralized debt lending turned out to be."

Narkin's firm has devoted over a hundred dollars of hours to a class-action complaint too alleges that Countrywide, Wells Fargo and a "high-volume law firm," Phelan Hallinan & Schmieg, involved in fraudulent schemes to collect incremented and manufactured foreclosure fees from financially troubled families in danger of losing the homes.

Phelan Hallinan & Schmieg are fighting the allegations.

The class action outlines the situation as applied to a multitude of families, including Charles Giles and his wife. Giles is a first responder with serious health problems that make him unable to work.

"He was on the short end of one of these foreclosure actions," reports Narkin. "The foreclosure action was brought by Phelan Hallinan & Schmieg in the name of Wachovia. But Wachovia had transferred all legal ownership two decades prior to this action, and a falsified mortgage assignment was used to prove or strive to establish standing."

"This whole occurence almost destroyed Charles Gilles," says Narkin. "He was required to to sale his structure at far short of its actual price. This was a situation at which he was told they got struggling to work out a sell for him and then he ended up facing a foreclosure and sheriff's sale."

The Giles at long last hired a different lawyer to help them. Phelan Hallinan & Schmieg sent the Giles a bill for legal rates in excess of $7,000.

You don't make sizeable allegations against another law firm unless you think you're right, and Narkin clearly believes the law will ultimately reveal itself to be favourable to the plaintiffs.

The class action is in happening an appeal of a lower court's ruling of a tinier complaint so Narkin alleges was dismissed on a technicality involving US bankruptcy laws such a the suit argues is unrelated to the more serious allegations.

The suit asks for an injunction to prevent Phelan Hallinan & Schmieg of engaging in further foreclosure procedures and seeks damages for injuries sustained by the homeowners due to violations of the Racketeer Influenced and Corruption Act (RICO), and violations of the Fair Debt Collections Practices Act (FDCPA).

Narkin's clients are seeking out both statutory and actual damages (which allows for treble damages under RICO), as favorably as the price levels of the suit and sensible attorney fees.
Source:http://www.lawyersandsettlements.com/articles/banks-foreclosure-proceedings-class-action-bank/interview-foreclosure-crisis-mill-15936.html