Considering we can expect 4.3 million new foreclosures in the next 24 months the questions are: How can you fashion your own bailout? Why should you pay your mortgage if the neighbor isn’t? How can we resolve the foreclosure crisis? Does it make sense to socialize the losses (not the gains) and allow private companies (like the banks) keep profits? As a society, how can we collectively work together to break the foreclosure crisis cycle?
Florida Attorney and Legal Blogger Roy Oppenheim addresses tough questions and more in his most recent foreclosure defense workshop. Oppenheim recaps what’s happened in the past year and gives a sense of where the real estate market is going, where foreclosure defense is going and where the economy is going. He talks about what can we expect (or not expect from the government) as we move forward particularly since this last election.
Some experts are calling this a lost decade. But Oppenheim says it will be a lost generation if the government does not step up to the plate and create better incentives to encourage people to behave in a different way.
If you missed this week’s 26th consecutive monthly Foreclosure Defense Workshop from Oppenheim Law, catch the replay available on Oppenheim Law TV for the next ten days.
In case you missed it, Federal Reserve Chairman Ben Bernanke went on the record with 60 Minutes last night to discuss the current state of the economy. On Wednesday at 6 pm in his own 60 minutes, Foreclosure Defense Attorney and legal blogger Roy Oppenheim will discuss his thoughts on this interview as well as the latest foreclosure defense strategies at his 26th consecutive monthly Foreclosure Defense Workshop.
Oppenheim continues to coach troubled Florida homeowners via this month’s seminar, focusing on how homeowners can fashion their own bailout through strategic default.
Tune into Oppenheim Law TV or come in person to the Boca Raton studio located at 95 NW 11th St., Boca Raton, FL 33432.
Please RSVP via email jackie@oplaw.net or call 954.384.6114.
Happy Holidays and see you at 6pm on Wednesday, December 8!
In Monday’s The New York Times editorial The Fed and Foreclosures, The Times finally took the Fed to task. They wrote: “There are two sides to every delinquent loan – a lender who made a bad lending decision and a borrower who cannot repay. Yet banks have never acted as if they bear any responsibility for the mortgage mess.” The harsh reality is banks take little to no responsibility for the fraud-closure mortgage nightmare.
According to The New York Times editorial, the Federal Reserve has proposed a rule that would disable one of the more effective legal tools that borrowers have to fight foreclosures.
The Truth in Lending Act from 1968 gives borrowers the “right of rescission,” the ability to undo a home refinancing or home equity loan within three years of the closing if the lender did not make proper disclosures. The Fed’s proposal would change all that.
But the bigger question is why would the Fed even get involved with this hot potato? Isn’t the Fed a non-partisan – above the politics – holier-than-thou institution that keeps the economy humming and rocking? Aren’t they the ones with the ability to print money and inject it into the economy as they have the ability to suck money out of circulation when things get too heated? Aren’t they the ones that paid 100 cents on the dollar for underwater virtually worthless sub-prime mortgage bonds under the ruse that the funds paid for the bonds was the fastest way to get money into the economy? (more…)
Chief Justice Canady’s letter was spurred by complaints the Judge received from several heavy hitters in the civil rights movement, including the Florida Press Association, the ACLU, the ACLU of Florida, the First Amendment Foundation, the Florida Association of Broadcasters, the Florida Society of Newspaper Editors, and the Florida Times-Union.
The problem: judges are barring public access to foreclosure cases. Florida has long been known as a state with free access to the courts. However, some judges and judicial staff are using the excuse that many foreclosure cases are now being heard in judge’s chambers rather than in courtrooms due to space constraints to tell people, including the press and pro se litigants that foreclosure proceedings are closed to the public.
In his letter, Justice Canady offers a scathing rebuke to the judges regarding this behavior. But let me share a little secret with you . . . it is a disgrace that he should have to tell judges that courtrooms are public forums, and he certainly shouldn’t have to remind judges that they should be following that law. How ridiculous is that? (more…)
As Florida leads the nation in mortgage delinquency; Foreclosure Defense Attorney Roy Oppenheim announces Oppenheim Law’s 26th consecutive monthly foreclosure defense workshop, now scheduled for Wednesday December 8, 2010 from 6:00 to 7:00pm. Oppenheim, who has coached thousands of homeowners through his seminars, will focus on how homeowners can fashion their own bailout through strategic default.
Tune into Oppenheim Law TV or come in person to the Boca Raton studio located at 95 NW 11th St., Boca Raton, FL 33432.
Please RSVP via email jackie@oplaw.net or call 954.384.6114.
As Florida leads the nation in mortgage delinquency; Foreclosure Defense Attorney Roy Oppenheim announces Oppenheim Law’s 26th consecutive monthly foreclosure defense workshop scheduled for Wednesday December 8, 2010 from 6:00 to 7:00pm. Oppenheim, who has coached thousands of homeowners through his seminars, will focus on how homeowners can fashion their own bailout through strategic default.
Tune into Oppenheim Law TV or come in person to the Boca Raton studio located at 95 NW 11th St., Boca Raton, FL 33432.
Below are some questions and answers from the workshop:
How does a lawyer get the judge to do the right thing in following their responsibilities of a judge?
If a judge makes a bad decision, a judge can be appealed. If the judge is not following law or makes a bad decision, they can be appealed and the decision can be reversed
What typically happens when the bank trying to foreclose does not own the mortgage? Does it get dismissed until the proper mortgage holder is located?
It should get dismissed as a matter of law. However, judges love to give banks a lot of chances to get it right, so the judges will usually allow the case to continue to the summary judgment stage. At that point, if the bank still can’t produce an assignment then the summary judgement will be denied. This is not good law, but rather the judge made lore that has no precedence other than for appellate courts to tell the lower courts to knock it off. That happens frequently these days, but not often enough.
Around 11 million Americans owe more on their mortgages than their homes are worth. Some economists suggest that the government should encourage banks to write down the principal of some underwater mortgages.
How can you guarantee that you are free from any deficiency judgment with a severely underwater mortgage? (more…)
Considering we can expect 4.3 million new foreclosures in the next 24 months the questions are: How can you fashion your own bailout? Why should you pay your mortgage if the neighbor isn’t? How can we resolve the foreclosure crisis? Does it make sense to socialize the losses (not the gains) and allow private companies (like the banks) keep profits? As a society, how can we collectively work together to break the foreclosure crisis cycle?
