The Opportunity Exists – Ken Gross Column – Jewish News – Sept 8, 2011

This applies to so many — but you need to recognize it and act on it!

The Opportunity Exists AL (9.8.2011)

Mr. President – You Need to Deal – By Ken Gross

Mr. President – You Need to Deal

The big speech came – and went. Another speech offering that which we anticipated but not that which America needs. A proposed $447 Billion program – and the President neglects to mention the price tag in the speech. I suppose that is the prerequisite to avoid addressing in specifics a realistic plan to pay for it. After witnessing Congress’s infantile behavior last month on the deficit cap – it is a certainty that the President’s program will go nowhere – other than causing another slow burn of intransigence by Congress.

Sometimes you need to make a deal that your adversary cannot refuse. You do this carefully – but when you need something done  – if it’s important enough – you do it. In this case, the President needs two things – he needs to stimulate jobs and the economy and he needs to garner support for next November. Instead of offering a plan the Republican’s will now have a field day complaining about – he should have taken the podium and laid out a program the Republican’s could not refuse. First – tell us it’s going to cost $447 Billion. Second – that though he doesn’t like it – we’re going to pay for it by shelving Obama Care for 5 years – with the exception only of keeping the no pre-exisiting condition requirement and providing coverage for dependent children to age 26. Third – acknowledge what everyone already knows –without a housing market the economy has no chance. To stimulate housing, tell us that mandated principal reduction on homes underwater will occur and that you will mandate easing the credit restrictions to refinance and purchase a new home. Top this off by telling us that the cost will be charged to the banking industry who caused this fiasco.

Mr. President, if you went in this direction,– the Republican’s could not say no – because the cost would be covered, we all want economic growth and the banking lobby would be handcuffed to protest. If you want four more years – you’re going to need to be a much better deal maker.

Ken Gross is an attorney with THAV GROSS PC (www.thavgross.com) and hosts The Financial Crisis Talk Center (www.fctalkcenter.com), a radio program that airs weekly at 8:30 AM on Saturday mornings on WDFN “The Fan” 1130 AM.

Spotlight On the News with Chuck Stokes – Ken Gross appears to discuss Short Sales and What to Do if You're Underwater in Michigan

Houses Under Water – Solutions for Michiganders – Ken Gross Interviewed by Chuck Stokes – On Spotlight on the News 6/25 Channel 7

THAV GROSS – issues statment of purpose behind MERS Michigan Class Action Foreclosure Lawsuit

This lawsuit is about leveling the playing field. The financial institutions caused the housing bubble to be created by pursuing profit motives with no regard to realistic underwriting criteria. When the bubble burst and they were one week from collapsing (going out of business) and causing a World Wide end to financial markets – we, the taxpayers, bailed them out. The government then directed them to pursue policies designed to modify mortgages and avoid foreclosure. Instead, the industry gave lip skink to the requirements – ignoring the directives and choosing to cause millions of homeowners to be played like fish in the process of attempting to modify their mortgages, only to be told at the last minute, “Your paperwork was incomplete, or you didn’t respond timely.” Then bang – the house is sold at the foreclosure sale 2 to 4 weeks later. Motives – it’s easy. The banks, in our perverse world – are better off foreclosing because Fannie Mae and Freddie Mac – have to buy back the mortgages and end up covering the loss – not them. That cost was already at $148 Billion in November, 2010 and is estimated to exceed $280 billion. Guess who is paying for it? The banks, instead of appreciating the fact that we allowed them to stay in business, have simply continued to push the costs of their failure business practices to the taxpayers. Ms. Boser is the Class Representative of those Michiganders – who are the victims of the banks wrongful conduct. If successful, the banks, not the taxpayers, will be forced to absorb the losses they caused and some (but not all) of the people harmed will benefit. Ms. Boser’s and all future class representatives’ actions deserve our best wishes and applause.

Homeowners — At Last .. There is Some Good News ….

IF YOUR HOUSE WAS FORECLOSED – YOU MAYBE ABLE TO STAY IN YOUR HOME AND PURSUE CLAIMS UNDER A RECENT MICHIGAN COURT OF APPEALS DECISION

A decision issued by the Mich. Court of Appeals on April 21, 2011, Residential Funding Co, LLC v Saurman, invalidated the foreclosure by advertisement sales in those cases because MERS was not the owner of the mortgage debt. This means that many foreclosure sales by MERS, if not all, may be invalid. MERS stands for Mortgage Electronic Registration System.Tweet

At present, if your home was foreclosed, you are probably functioning under the assumption that you have 6 months from the date of the foreclosure sale to either redeem the property or vacate. If you do not vacate, typically, the lender institutes eviction proceedings in the District Court where you reside to force you out. THIS NEW CASE (UNLESS IT IS REVERSED OR A NEW LAW IS PASSED) MAY GIVE YOU A DEFENSE TO THE EVICTION PROCEEDING THAT YOU SHOULD BE AWARE OF. If successful, the foreclosure may be voided and the lender would have to start the entire process over if it wishes to foreclose and recover the property.

You need to determine if this new decision applies to you. If it does, we can provide cost effective assistance to help you stay in your home. More important, many people missed opportunities to modify their mortgage and stay in their home by not have proper representation when facing foreclosure. If we are able to assist you in setting aside the foreclosure, more opportunities to retain the home can be explored.  You must act immediately, before it is too late. The time to act is now and the stakes are very great. Please call us today to schedule an immediate free consultation. Call Toll Free at 1-888-235-4357 (HELP).  We look forward to meeting and helping you.Tweet

VIDEO – URGENT – Save this Dog & Michigan from Being Homeless – Help Avoid Foreclosure

Click Here – to Learn About the Need to Save Michigan’s Law that is Expiring 7-5-2011

Ken Gross named Michigan Leaders in the Law 2011

http://milawyersweekly.com/news/2011/02/28/kenneth-l-gross-leaders-in-the-law-2011/

Michigan Lawyers Weekly

Kenneth L. Gross – Leaders in the Law 2011

POSTED: 02:16 PM Monday, February 28, 2011
BY: Edward Wesoloski, Esq.
TAGS: 2011 Leaders in the Law

Kenneth L. Gross
photo by Mark Bialek

Thav, Gross, Steinway & Bennett, P.C., Bingham Farms
Education: Wayne State University Law School, 1982
Specialty: Financial crisis management, business law, estate planning

Kenneth L. Gross, co-founding shareholder of Thav, Gross, Steinway & Bennett, P.C., puts a lot of people back on their feet after they’ve had the financial rug pulled from underneath them.

In the process, he’s evolved the law practice that he and Charles Thav founded 29 years ago, the day after Gross graduated from law school.

For many years, he said, Thav Gross “was a normal business practice.” The bulk of the work was mergers, new companies, contracts and commercial disputes.

Then, in 2008, the national economy melted down, unemployment shot up, and the real estate market crashed.

“A lot of people connected to the real estate market were put out of work,” Gross said.

In response, he led the firm to a new type of practice: financial crisis management.

“We had a tax collection defense and bankruptcy practice, so we rechanneled the focus and expanded it from a standpoint of what’s going on the economy,” he explained.

“The real estate developers, the mortgage brokers, the trade workers, the suppliers — all those people have suffered horrendous losses as a result of the housing crisis. They’re fighting for survival. They’re trying to save their homes. They’re trying to figure out how to put food on the table.”

This troubled Gross. He also was frustrated by “the arrogance and the lack of practically the banking industry has displayed with regard to the mortgage crisis.”

When homeowners are underwater with their mortgage and their income drops, “it would make more sense to renegotiate the principal and let the people stay in there,” he said.

“But the lending market and the banking industry absolutely refuses to recognize any concept of principal reduction.”

So Gross views his advocacy as if “it’s almost a war, an ‘us versus them’ mentality in terms of the banking industry.”

But, he added, “what’s incredibly interesting is all of the possible ways to improve a bad situation that we’ve learned by doing.”

Gross’ approach is to assess a client’s particular circumstances and determine which creative combination of the available tools — bankruptcy, debt settlement, loan modification, short sale tax relief — will work best to resolve the client’s problems.

This approach has worked well for his clients in many instances.

Gross’ business strategy has worked well for his firm.

Due to the slow economy, fewer clients seek “pure” business services and many more clients seek help with their personal financial circumstances.

Gross is invigorated by the shift in focus, saying, “I used sit there sometimes and say, ‘Is there any good that I do as a lawyer?’

“When I’m engaged from a pure business standpoint, I’m doing good for my client. But when you start moving into this financial crisis area, where you’re trying to help and solve people’s problems on a long-term basis, it is more inspiring and in some respects it’s more fun.

“I think I’m more charged-up about practicing law now than I’ve ever been,” he said.

Though he admitted feeling guilty at times about being too impatient to bring about the result he’s after, “I’ve learned over the course of time that you need some level of impatience to stay on track.”
By Ed Wesoloski, Esq.

Ken Gross Interviewed by the Examiner.com – Detroit

Check out Lori William’s interview of Ken Gross in the Examiner – Will Santa Bring an end to the Housing Crisis for Christmas?

Thav Gross in the Wall Street Journal ..

By ROB JOHNSON

For many entrepreneurs, phoning an attorney summons images of a ticking clock and mounting bills. Now law firms are trying to win new customers by offering deep discounts for start-ups.

Some firms are offering small businesses a flat monthly fee rather than charging them by the hour. Others offer flat rates for certain services, such as handling the paperwork for starting a company.

Many small companies say the discounts are a big help at a time when budgets are tighter than ever. Ray Case, a plumbing contractor in Ann Arbor, Mich., says flat fees from attorney Ken Gross proved precious as he journeyed through bankruptcy court, folding one company and forming another. He paid $10,000 total for at least 100 hours of work, and estimates he saved at least $15,000 over typical hourly rates.

“When you’re basically out of money,” says Mr. Case, “you can’t give an attorney a blank check.”

Born of Necessity

The impetus for these deals is simple: Lawyers need to drum up more business, but many entrepreneurs can’t afford traditional payment plans these days. “The economy has melted down, and a lot of work we’re doing is for people on a tight financial budget who can’t commit to an hourly fee schedule,” says Mr. Gross, managing partner at Thav, Gross, Steinway & Bennett PC in suburban Detroit.

Mr. Gross, whose firm started offering flat rates to small businesses in 2005, says his small-business clientele in the first half of 2010 was quadruple that in the same period of 2005. “You have situations where people got buyouts and had little nest eggs of money,” he explains. “They’re trying to replace income from the jobs they lost.”

Sadly, he says, there’s another reason demand is booming: Many small-business clients, like Mr. Case, need help with debt resolution and bankruptcy-related matters, rather than with starting up.

The deals are springing up across the country. In New York, MasurLaw offers small businesses a flat rate, starting at $500, for services such as help with launching a company. Senior partner Steven Masur says that “when the recession hit, we felt that predictable pricing would take the guesswork out of legal fees,” raising the comfort level of potential clients and fostering continuing relationships with them through their early days.

In Blacksburg, Va., Creekmore Law Firm PC introduced a plan last year that charges small businesses a flat rate of $75 a month, after an initial fee of $750. “Some small-business owners would come in for an initial consultation, find out our hourly fees and wouldn’t come back,” says Keith Finch, an associate at Creekmore. “They’d just disappear.”

Proceed With Caution

To be sure, there are some potential hazards for small businesses in going this route. Joseph DeWoskin, chair of the American Bar Association division that specializes in issues facing small law firms, advises entrepreneurs to check references and get promises in writing. Be careful, he says, of “the bait and switch, where they tell you they can do it for this price and then say they can’t.”

What’s more, you can’t expect attorneys to do everything for a flat rate. Most lawyers who offer these deals set limits for what the discounts cover. For example, Mr. Finch excludes some potentially time-consuming legal work from his small-business price, such as suing or defending against litigation, and giving tax advice.

Further, some law firms insist that their discounted services for entrepreneurs be conducted on the phone, rather than consultations in their offices, to speed up the conversations. Others want much of the work to be done via email. That might make for a distant relationship between lawyers and clients.

Some entrepreneurs, however, say that they don’t mind, since they’ve gotten used to dealing with customers that way to save time. Rafe Steinhauer, president of Benefeast LLC, a White Plains, N.Y., company that raises funds for nonprofit organizations, says long-distance contact works fine once a sound relationship is established.

“You don’t have to keep making special trips to the lawyer’s office,” he says.

Mr. Johnson is a writer in Roanoke County, Va. He can be reached at reports@wsj.com.

Ken Gross – quoted in Detroit Free Press – Saturday, October 30, 2010

Click link for Article ….

William Krieger of Lansing watched the news earlier this month about banks halting foreclosures because of problems with paperwork and was relieved that wasn’t happening to him.    Two days later, he got a letter from Chase saying he was delinquent on his mortgage and that it would foreclose if he didn’t contact the bank. The only problem — he never missed a payment and can prove it.    News of big lenders halting home repossessions has raised questions over how banks handle paperwork. Earlier this month, Bank of America stopped home seizures in all 50 states. At issue: a process called robo-signing, in which bank employees or its lawyers signed off on foreclosure affidavits without reading them. It has been a problem in states where judges must approve foreclosures.      The crisis has heightened awareness about paperwork errors nationwide, but experts say the impact will be minimal in Michigan. That’s because it is not among the states that require judicial review for home repossessions.    Bank of America is the only lender reviewing Michigan foreclosures and most industry observers don’t expect it to take long. The lender recently resumed foreclosures in the 23 states that require a judge’s approval after   finding that its paperwork processing was up to snuff.    The Michigan Association of Realtors in Lansing issued a statement last week saying the impact here has been almost nonexistent.    “Valid real estate contracts and mortgages remain enforceable and unchanged. There are no major anticipated legal challenges associated with recent headlines that will have an effect on our state.”    And the investigation hasn’t caused foreclosed properties to be pulled off the market in Michigan, which has occurred in some judicial review states.    Experts say cases like Krieger’s — while unfortunate — are rare.      Chase spokeswoman Mary Kay Bean said the bank had resolved the problem on Tuesday, reimbursing Krieger for fees and expenses and corrected his credit report to indicate he is current on his payments. Krieger said the problem began when he made an online payment   in August and mistakenly forgot to indicate the date Chase should take it from his account. Two payments were taken, but one bounced back to Chase. That was counted as delinquent.    While Krieger’s situation is uncommon, it’s still a major hassle. The only thing someone can do is to keep copies of every payment and statement and send a copy of those along with a letter explaining the error to the bank,   said Ken Gross, a Bingham Farms financial crisis attorney. They need to be sent by certified mail with a return receipt, he said.    “Calling does you no good in this world,” he said. “You have to prove you sent the letter.”    What’s more at issue with the paperwork mess is an underlying sense that the loan servicers can’t always prove who owns the mortgage and has the right to foreclose, he said.    “It all comes back to where does the responsibility lie?” Gross said. “The banks have to do their jobs and create a method of administration to do it.” Still, Krieger isn’t convinced. For him, the paperwork crisis calls everything into question.      “I absolutely believe because of their accounting problems they probably have foreclosed on people who didn’t deserve it,” said Krieger, 45, an Iraq War veteran.    • CONTACT GRETA GUEST: 313-223-4192 OR  GGUEST@FREE   PRESS.COM