Archive for the ‘Florida Law News’ Category

Florida’s foreclosure dilemma: Who’s on first?

Friday, May 31st, 2013

Florida's foreclosure dilemma. HB 87 speeds up foreclosures and denies homeowners due process rights and it is unconstitutional.

Foreclosures: Something near and dear to Roy Oppenhiem’s heart. “Who’s on First” represents the state in which homeowners’ find themselves regarding certain due process rights which allow them to have a fair trial. HB 87 speeds up the docket, thus waiving a homeowner’s right to a fair trial.

The following publication was written by Roy Oppenheim, Oppenheim Law for the South Florida Law Blog.

Last week, I attended “A View from the Bench,” a semiannual rite sponsored for the past several years by The Daily Business Review. For the past few years, the topic has been one that is near and dear to my heart: Foreclosures. The nice thing about these forums is that they bring together a number of judges, as well practitioners, who either represent banks or homeowners, for what I think is a lively discussion about the state of foreclosure jurisprudence in Florida and particularly in South Florida.

If I was asked to summarize the event, or provide a comment that represented the major takeaway from the four-hour seminar, I would suggest that it would be one of the remarks made by one of the jurists as it relates to the Abbott and Costello slapstick comedy team when they performed their well-known “Who’s on First?” routine. In that dialogue it becomes clear that no one knows who’s on first base, on second, or third and the whole discussion reflects a big mess.

That is the current state of foreclosure in Florida. The big issue that everyone was asking was whether the governor would sign a new foreclosure bill (HB 87) that in some ways would make it more difficult for the banks to foreclose and provide homeowners certain rights, while at the same time deny homeowners certain due process rights and have the law apply in many ways retroactively in a fashion that is unconstitutional. The proposed law would further enshrine the idea of a permanent class of retired judges who are not truly accountable to anyone.
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Media Coins New Area of Law: Real Estate Defense Attorney

Wednesday, May 29th, 2013

drumsThe following article was written and authored by Roy Oppenheim for The South Florida Law Blog.

The drums are starting to beat more loudly by those of us in the Florida real estate and foreclosure defense business as we patiently await the word on whether Gov. Rick Scott will sign HB 87, a bill designed to speed up the backlog of foreclosures in Florida.

Florida real estate analyst, consultant and author Jack McCabe, of McCabe Research and Consulting in Deerfield Beach, has become the latest outspoken opponent of the foreclosure legislation.

In an article that appears in the May 23 edition of the Daily Business Review McCabe urges Gov. Scott to veto HB 87 calling it “anti-consumer, pro-bank and corporate friendly.”

McCabe points out that while backers have “soft-peddled” the bill as nothing more than a way to clear through the logjam of pending foreclosures that have piled up since the housing crisis began, there are underlying dangers lurking in the specifics that – believe it or not – would actually prevent foreclosed homeowners from getting their homes back, even if the outcome of a court case is against the bank. The best a judge could do is award money damages.

It’s hard to believe that in America someone could be forced from their home and even if a bank is wrong in foreclosing, not be able to get it back!

After the legislation passed earlier this month I sent a letter to Gov. Scott urging him not to sign the bill into law noting that if he did, it could push homeowners out of their residences without the due process to which they are entitled.
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Banks fear courts’ ruling on negotiability of promissory notes

Tuesday, May 28th, 2013

househandThe following article was written and authored by Roy Oppenheim for The South Florida Law Blog.

There’s been a lot of discussion over the last year or so about the negotiability of Fannie Mae and Freddie Mac promissory notes. The banking industry has been trying to convince courts that these notes, which total about $7 trillion in commercial paper, are a negotiable instrument.

Why is this so important to the banking industry? The bottom line is that if banks can’t convince the courts that these types of notes are negotiable, then it will be a lot more difficult for them to foreclose on a home and this is what they fear.

The history of negotiability goes back even further into the history books – which trace it to the Florentines and Venetians in the 12th and 13th century.

Like the charlatan weavers who tried to persuade the emperor he was wearing beautiful new clothing in Hans Christian Andersen’s famous tale, banks have spun a wonderful story about the negotiability of these notes. But their argument has begun to wear thin and that has the banking industry very concerned. So concerned that they have started to lobby supreme courts around the country.

Our legal system has been discussing the negotiability of a note since the time the nation was formed.

Ironically, many of the terms and conditions in the standard Fannie Mae and Freddie Mac promissory note have been deemed non-negotiable in other types of instances, whether it’s car loans, consumer loans, solar panel loans, or hot water heater loans. Why should banks be any different?

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Roy Oppenheim From the Trenches: The re-emergence of the rocket docket

Wednesday, May 22nd, 2013

Top 2010 Foreclosure Headlines from South Florida Law BlogMuch has been written and said about the state of the nation’s foreclosure crisis. South Florida has served as ground zero for much of the mess in the past few years and only recently is starting to dig out from under the mountain of foreclosure filings.

New South Florida foreclosures are down. After reporting the No. 1 foreclosure rate for two consecutive months, the metro area covering Palm Beach, Broward and Miami-Dade counties fell to third in April, according to RealtyTrac Inc.

Nationwide, foreclosure activity fell to its lowest level in six years.

Meantime, several of the big banks have actually halted foreclosure sales to ensure they are complying with federal guidelines.

In his most recent “From the Trenches” video, Oppenheim about the newly passed foreclosure legislation – HB 87 – which is awaiting Florida Gov. Rick Scott’s signature. Roy wrote a letter to Scott asking him not to sign the bill, pointing out that if passed it could push homeowners out of their residences without the due process to which they are entitled.

There also has been a re-emergence of the so-called “rocket docket” with the Florida Supreme Court giving its blessing to a plan that allows for lawyers to serve as general magistrates to help push the hundreds of thousands pending foreclosures through the court system.

What are the implications of this decision? Watch the video to find out.

Real estate and foreclosure defense attorney, Roy Oppenheim left Wall Street for Main Street, founding Oppenheim Law along with his wife Ellen in 1989 in Fort Lauderdale, Florida. He also is vice president of Weston Title and creator of the South Florida Law Blog, named the best business and technology blog by the South Florida Sun-Sentinel. Follow Roy on Twitter at @OpLaw or like Oppenheim Law on Facebook


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