Toxic and contaminated.
You’d think we’re referring to an environmental wasteland. Instead these are the words Roy Oppenheim used to describe the state of the mortgage and foreclosure crisis in this week’s special workshop stamped: Toxic Foreclosures and Foreclosure Fraud.
‘Foreclosure Bill Blocked’ reads today’s Wall Street Journal headline. As Oppenheim suggested a few days ago, Obama today announced his first significant veto amid a debacle over banks’ paperwork.
False Data = Fraud
This afternoon, Bloomberg News reported Bank of America Corp., the biggest U.S. lender, extended a freeze on foreclosures not just to 23 states but to all 50 states as concern spread among federal and local officials that homes are being seized based on false data.
“When I was in law school my professors would say that real estate law was notorious for moving in glacier time,” said Oppenheim in his Wednesday night monthly foreclosure defense workshop. “The lightning speed of what has happened in the last few weeks could not have been predicted, it will take decades to recover from the banks’ cracked egg. Humpty Dumpty has fallen and can not be put together again.”
Watch Roy Oppenheim’s Foreclosure Defense Workshop on his YouTube Channel and see how this will impact your life whether you are in foreclosure, lost your home to foreclosure, trying to sell your home or considering to purchase a home.