InjuryBoard Los Angeles Archives

• Bear Stearns -- The First Wave Mortgage Failure

  Paul Kiesel | June 23, 2007 8:51 AM | 0 Comments
  Category: Miscellaneous

  Mortgage loan industry facing continued crisisHaving filed 15 Federal Class Action law suits in the last two weeks against financial institutions that have sold Option ARM Loans to hundreds of thousands of consumers in California we continue to watch with keen interest where the financial markets are going. The financial markets are certainly beginning to feel the impact of these "shaky"...

• Beware Mortgage Crisis - Option ARM Loans

  Paul Kiesel | June 19, 2007 1:32 PM | 0 Comments
  Category: Miscellaneous

  California Lawyers file class action against Option ARM loan banks.The New York Times has observed that a "tidal wave of mortgage failures" is on the horizon. As California lawyers we have initiated 15 class action law suits against the largest home lenders in the state of who sold Option Adjustable Rate Mortgages. These mortgages were a trap for the unwary consumer. The Class Action alleges...

• Consumers Don't understand Mortgage Documents

  Paul Kiesel | June 17, 2007 10:23 AM | 0 Comments
  Category: Miscellaneous

  Mortgage disclosure statements prove baffling to most consumers.The Federal Trade Commission completed a study of 800 consumers throughout the country providing them Standard disclosures for "fixed" rate mortgages to determine their level of understanding. Remarkably the majority shown a standard disclosure form were totally baffled. The FTC found that the required disclosures were ineffective...

• Option ARM Loans -- a Tsunami in the making

  Paul Kiesel | June 16, 2007 3:47 PM | 0 Comments
  Category: Miscellaneous

  Option ARM Loans result in class action lawsuitsOption Adjustable Rate Mortgage (ARM) loans can easily confuse consumers hundreds of thousands of whom have acquired such loans in California and throughout the United States. The Los Angeles Times first reported on May 27, 2007 just how dangerous these loans can be. Kiesel Boucher & Larson LLP initiated the first of 15 Federal Court lawsuits...