Suit Filed Against Seven Major U.S. Banks Alleging Fraud Against Homeowners

Philip Kramer, an attorney from Calabasas, California filed suit against seven US banks alleging they defrauded homeowners.

Kramer has filed lawsuits against Bank of America, JP Morgan Chase, Washington Mutual, One West-Indy Mac, GMAC, Wells Fargo/Wachovia and Citibank which he claims have allegedly defrauded hundreds of thousands of homeowners. The suits follow months of troubles for the lenders, who were sanctioned by the federal government last week for improperly handling foreclosures in the robo signing scheme, reportedly affecting more than 300,000 homeowners.

Read the rest of the story.

See The Reno Real Estate Guide for more foreclosure information.


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