Archive for the ‘Foreclosure Workshop’ Category

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Workshop Replay: Goodbye Yellow Brick Road – No more Fannie Mae and Freddie Mac

Friday, March 11th, 2011
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Why isn’t Wall Street in Jail? Is our government a giant Ponzi scheme?

These are the questions Roy Oppenheim asked during Wednesday night’s Short Sale and Foreclosure Defense seminar.

During the webcast, Oppenheim discusses how with the departure of Fannie Mae and Freddie Mac also goes the traditional 30-year mortgage, paving the way for a new 20-year mortgage, higher interest rates and larger down payments. In other words, buying a house just got harder.

Roy also touched on recent news headlines, including the 60 Minutes piece titled Homeless Children: The Hard Times Generation, New York Magazine’s jailhouse interview with master manipulator Bernie Madoff, and scathing commentary by Rolling Stone Magazine’s Matt Taibbi on Wall Street’s modus operandi.

If you missed this hour of economic insight from a leading industry expert, the replay will be available on Oppenheim Law TV and the Oppenheim Law YouTube channel for the next 30  days! We want to remind you that as the short sale market heats up, Oppenheimlaw and Weston Title are here to service all your legal and title insurance  related needs.

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Posted in 60 Minutes, Bernie Madoff, Florida foreclosures, Florida Law News, Florida real estate, Florida short sales, Foreclosure Defense, Foreclosure Fraud, Foreclosure Workshop, Rolling Stone, Roy Oppenheim, short sales, strategic default, The Wall Street Journal | No Comments »

Double Dip Recession? Why Not Bet on the Trifecta?

Wednesday, March 9th, 2011
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Oppenheim Law tells all at 6 pm tonight with perspective on the state of Florida Real Estate via a free Webcast or be part of a live audience in Boca Raton.

Double Dip Recession

Homeownership will no longer define the American Dream. That’s because 30-year, fixed-mortgage loans that we’ve known since the 1950s may become a luxury if the federal government tightens constraints on Fannie Mae and Freddie Mac—the two lenders that historically backed home loans for the masses (even with far less than perfect credit scores). Indeed, a private mortgage finance market could emerge with entirely new rules—rules that make it harder and more expensive to get a loan.

Next, consider convicted Ponzi scheme mastermind Bernie Madoff’s comments from his prison cell. Madoff told New York magazine that Goldman Sachs, Merrill Lynch and Morgan Stanley Smith Barney knew all along that he was working the system—and did nothing. Madoff suggested that the entire government is a Ponzi scheme. What if Madoff is right? It’s a disturbing thought…

That leads us to the question, “Why isn’t Wall Street in Jail?” Where’s the accountability? Clearly, greedy banks did their dirty deeds and clearly American taxpayers are footing the bill. Wealth has been destroyed. Lives ruined. Yet Wall Street—and the prominent firms that make up the financial services industry—seem to be living above the law.

What’s an American homeowner—or foreclosure victim—to do?

Join Oppenheim Law tonight, March 9 at 6 p.m. Roy Oppenheim is holding a real estate workshop where he discusses how the aftermath of Wall Street’s greed is still affecting homeowners across the country and what you can do to pull yourself out of the hole the banks created. Oppenheim will also share how rising oil prices, continued unemployment and the possibility of an American double-dip recession is impacting the South Florida real estate market, as well as the pros and cons of how changes to mortgage options could impact South Florida foreclosures and short sales.

What: Global Impact on Florida Short Sales and Foreclosures Workshop

Where: Oppenheim Law TV

Or come in person: 95 NW 11th St., Boca Raton, FL 33432

Cost: Free with advanced registration

RSVP: To register, email jackie@oplaw.net or call 954.384.6114

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Posted in Florida foreclosures, Florida Law News, Florida real estate, Foreclosure Workshop, Roy Oppenheim, short sales, Underwater Mortgage | 1 Comment »

Goodbye Yellow Brick Road…Goodbye 30-Year Mortgages?

Monday, March 7th, 2011
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Goodbye Yellow Brick Road...Goodbye 30-Year Mortgages?The American Dream as we know it is being redefined for Florida real estate and the nation. Elton John’s famous song Goodbye Yellow Brick Road reminds us that homeownership will no longer define the American Dream and the Yellow Brick Road really leads to no where (just like in Oz).

So the tune Goodbye Yellow Brick Road is sounding the same as Goodbye American Dream as we say see you later to 30-Year Mortgages. The fact is, without housing finance giants Fannie Mae and Freddie Mac, the 30-year mortgage might fade away, leaving many potential homeowners with little to no financing options.

The 30-year fixed-rate mortgage loan has been a steady favorite of American borrowers since the 1950s and is now on its way to become a luxury product.

What would real estate be like without Fannie Mae and Freddie Mac?

According to The New York Times, life without Fannie and Freddie is the rare goal shared by the Obama administration and House Republicans after the two giants misused the government’s support to enrich shareholders and executives by backing millions of shoddy loans.

Taxpayers have spent more than $135 billion righting those wrongs.

However grave the transgressions, there would be consequences for Americans if Fannie and Freddie are shut down. Interest rates would rise for most borrowers, and lenders could start charging fees for locking in those rates weeks or months before taking out a loan.

Still, other politicians favor a purely private mortgage finance market.

Join Oppenheim Law on March 9 as Roy Oppenheim discusses the pros and cons of each system and shares how the options would affect South Florida foreclosures and short sales.

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Posted in Florida foreclosures, Florida Law News, Florida real estate, Florida short sales, Foreclosure Defense, Foreclosure Workshop, Roy Oppenheim, short sales, The New York Times, Underwater Mortgage | No Comments »

Real Estate Madness: Madoff Burns Banks and Brands Government

Saturday, March 5th, 2011
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Real Estate Madness: Madoff Burns Banks and Brands GovernmentIs the whole government a Ponzi scheme? Bernie Madoff thinks so and who would know better than the master manipulator himself?

When the greatest financial criminal in history calls collect, you listen. The result? A fascinating feature by New York Magazine writer Steve Fishman exploring Bernie Madoff’s brazen plan, subsequent panic and tumultuous downfall.

Perhaps most interesting is Madoff’s assertion that some of Wall Street’s most prestigious firms, including Goldman Sachs, Merrill Lynch and Morgan Stanley Smith Barney were never blind to the scheme he was orchestrating.

“Look,” he said, “these banks and these funds had to know there were problems.” Madoff told them absolutely nothing about how he made those returns. “I wouldn’t give them any facts, like how much volume I was doing. I was not willing to have them come up and do the due diligence that they wanted. I absolutely refused to do it. I said, ‘You don’t like it, take your money out,’ which of course they never did.”

Madoff continues, “It’s unbelievable. Goldman … no one has any criminal convictions—the whole new regulatory reform is a joke. The whole government is a Ponzi scheme.”

As the housing market continues to waffle and the government rolls out plan after plan to no avail, it’s hard to argue with him.

According to the latest numbers from CoreLogic, the national average of state mortgage holders who are underwater is 22.5%. Florida sits at an astonishing level above 60%.

Homeowners, however, are not powerless in today’s market. Join Oppenheim Law next Wednesday, March 9, for the next free Real Estate Workshop where Roy Oppenheim will share how rising oil prices, continued unemployment and the possibility of an American double-dip recession is impacting the South Florida real estate market.

What: Global Impact on Florida Short Sales and Foreclosures Workshop

Where: Oppenheim Law TV

Or come in person: 95 NW 11th St., Boca Raton, FL 33432

Cost: Free with advanced registration

RSVP: To register, email jackie@oplaw.net or call 954.384.6114

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Posted in Bernie Madoff, Florida foreclosures, Florida Law News, Florida real estate, Florida short sales, Foreclosure Defense, Foreclosure Fraud, Foreclosure Workshop, Rolling Stone, Roy Oppenheim, strategic default, The New York Times, Underwater Mortgage | 1 Comment »

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