Shaffer & Gaier, L.L.C. Challenges Major Lenders with Fraud and Predatory Lending Charges, Gaining Fifth Foreclosure Dismissal in Four Weeks

PHILADELPHIA, April 15, 2011 /PRNewswire/ -- Shaffer and Gaier, L.L.C. announced yesterday that U.S. Bank was forced to dismiss its foreclosure action filed in a New Jersey Court, bringing the total count to five dismissals in four weeks. The law firm, with offices in Center City Philadelphia, Haddonfield, N.J. and Ft. Lauderdale, Fla., has made a name for itself fighting mortgage foreclosure lawsuits, having recently gained dismissals from U.S. Bank, Citibank, Bank of America and Chase Home Finance. The firm's strategy has been not only to seek declaratory relief against the foreclosures, but also to seek nullification of the mortgage itself. Shaffer & Gaier has taken the strategy to file counterclaims against the big banks for predatory lending and fraud which could result in triple damages and legal fees and costs.  

Yesterday's dismissal came in light of allegations of predatory lending, including the manipulation of loan documents, loan flipping, fraud and conspiracy, involving the Loan Originator, the Mortgage Servicer and the Trustee for the Mortgage Backed Securities Pool. "What we're finding," said Michael Gaier, partner with Shaffer & Gaier, "is that rather than risk losing in court, banks are opting to dismiss their cases against our clients. Our allegations are serious and well documented. We're ready to prove our case in court." While almost all homeowners simply allow the Foreclosure to proceed without fighting the banks, Shaffer & Gaier is prepared to defend Homeowners where they have unearthed fraud and deceit by the lending institutions.

"Once we dive into discovery and depositions, we are able to uncover fraud and shady practices by the Banks and they have no other choice than to drop their foreclosure lawsuits," said Gaier. "We are confident that we are on the right side of this fight. Dismissing the foreclosure lawsuit allows the bank to avoid the risk of losing outright in front of a judge or jury, which could not only involve the nullification of the mortgage, damages and legal fees, but also includes the risk of setting a major precedent for millions of foreclosure actions across the country. These banks have committed fraud and we intend to pursue them whether it be defeating their mortgage action and filing counterclaims or filing our own plaintiff actions. Our clients have been struggling for years, robbed of their savings and are threatened with the loss of their homes. They are entitled to resolution and monetary restitution."

Shaffer & Gaier, L.L.C. is located in Center City Philadelphia, with offices in Haddonfield, N.J. and Ft. Lauderdale, Fla. The firm specializes in Consumer Protection Law, specifically in the areas of personal injury and foreclosure defense. With over 25 years of litigation experience, the attorneys at Shaffer & Gaier have successfully represented thousands of clients throughout the Delaware Valley and beyond. They are currently handling approximately 200 foreclosure defense cases in Florida, New Jersey and Pennsylvania.

http://www.shaffergaier.com

Contact:

Jennifer Bellis
[email protected]
561-703-3662

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SOURCE Shaffer & Gaier, L.L.C.