Get Out of Debt Guy - Steve Rhode

Is Paying $4 Grand to Join a Mass Joinder Suit with Kramer & Kramer a Legitimate Way to Save My Home From Foreclosure? – Syd


“Dear Steve,

I’m 8 months behind on property mortgage (Chase), due to unemployment and escrow account being added to payment (68% increase). 2 loan modification requests rejected; in process on third. Foreclosure sale date set; have not received NOD or NOS.

Is paying $4000 to Kramer & Kramer to join Mass Joinder suit against Chase a legitimate, last resort scenario to save my property?


Dear Syd,

I can’t speak for either Kramer & Kaslow, your salesperson, or on a legal basis since I am not an attorney. But I can share with you what I have observed and been told.

Vito Torchia, Jr., an attorney with Brookstone Law, another law firm that is pursuing these mass joinder cases, said recently in this article that:

These lawsuits may be suitable for homeowners who are current on their mortgage but have lost equity, as well as homeowners who are facing foreclosure or who have already been wrongfully foreclosed upon (though these lawsuits do not, of themselves, prevent foreclosures and such efforts require a separate proceeding that may or may not be successful).

I’ve seen a lot of marketing from the mass joinder sales reps and while the claims are made that participating in the suit will prevent your home from being foreclosed, the words of Torchi and those shared off the record with me by another attorney pursuing mass joinder cases make those statements not believable.

My opinion, based on the words of two mass joinder attorneys and this warning from the California Department of Real Estate is that it certainly seems the odds are that participating will NOT prevent the sale of your home in foreclosure.

But the smart thing to do is to get a second opinion on your case from a licensed real estate attorney in the state where you live. A second opinion might cost you a little, but it could prevent you from making a huge mistake that could cost you a lot.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!
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