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.

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

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.

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

Join Florida Foreclosure Defense and Short Sale Attorney Roy Oppenheim March 9th at 6 PM.

“Not a single financial executive has gone to jail”…that is how Producer Charles Ferguson rocked the Oscars by starting his acceptance speech for winning best feature documentary for  ”Inside Job,” a film about the 2008 financial system meltdown. How appropriate.

Meanwhile, Florida real estate is no red carpet winner when it comes to the housing market. Oppenheim Law announces its real estate webinar streaming live Wednesday March 9th at 6 pm, designed to help Florida homeowners use today’s economic conditions to their advantage and fashion their own bailouts.

In this timely workshop, Oppenheim shares fresh insights, including:

• How the rising price of oil will affect the American job market, and in turn affect the housing market.
• What these trends mean for Florida foreclosure defense and how homeowners can use these events to their advantage to engineer and structure a short sale.
• The impact that a sluggish start to the national “selling season” will have on a local level.
• Why home prices will continue to drop in the months ahead.
• And how a double dip recession could impact homeowners in the coming months.

Florida real estate is not immune to the financial system melt down or the recent world events, according to Florida Foreclosure Defense Attorney and Legal Blogger Roy Oppenheim.

As revolutionary tremors continue to spread through the Middle East and actual tremors rocked New Zealand with a 6.3 magnitude earthquake, Oppenheim Law offers insight on how these international events could impact Florida’s real estate market as well as sharing the latest legal trends in foreclosure defense and short sales strategies.

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

The Wall Street Journal is reporting a sluggish start to selling season, typically kicked off by Super Bowl Sunday.  Given the volatile international headlines this week, this news hardly comes as a surprise. From revolutionary tremors spreading throughout the Middle East to the actual tremors of Christchurch, New Zealand’s 6.3-magnitude earthquake, the global outlook seems bleak at best.

Here on the home front, rising gas prices fuel unemployment as every 2.5 cent increase in gas prices translate into 25,000 more Americans out of work. To make matters worse, the housing crash may have been even worse than initial estimates have shown.

Economists are discounting the possibility that recent buying momentum will propel GDP growth to the necessary 5-plus percent necessary to sustain job growth. Latest figures are predicting unemployment to stubbornly remain above 9% nationwide until well into 2012 as well as a continued surplus in housing inventory.

Are we seeing the beginning of a double dip recession? Join Oppenheim Law and Weston Title on March 9 to discuss the latest headlines and economic predictions as we navigate month three of the year of the short sale.

As reported in The Wall Street Journal this week, buyers are snapping up short sales in all-cash deals, breathing life into the crippled Florida real estate market. In our monthly real estate workshop last night, foreclosure defenseand real estate attorney Roy Oppenheim pointed out that over half of short sale buyers today pay in cash, versus 13 percent in 2006.

Didn’t make last night’s event? The replay will be available for the next ten days on Oppenheim Law TV.

In the timely workshop, Oppenheim discusses:

• How global events and macro economic conditions such as unemployment and the price of gas impact the real estate outlook
• How to fashion a personal bailout
• How banks define financial hardship
• Why banks prefer short sales
• The 20-year cycle of the real estate market
• Insightful Q&A from the Oppenheim Law chat room

February started with a continued roar as events continue to unfold. Super Bowl Sunday is notable for two reasons: it is a social escape and also typically marks a turning point in real estate activity.

So what should we expect? For starters, a parade of new foreclosures will flood the market in the coming months as banks get their documents in order. Next, it is safe to say the global “tweet goes on”, as political unrest in the Middle East might just be the new normal as social networking sites like Twitter and Facebook play even bigger roles on the internal stage.

At Oppenheim Law, we are watching the situation closely and sharing new strategies for buying, selling, investing or even walking away from real estate in 2011. Join us for yet another black-swan themed event on Wednesday February 9^th at 6:00 pm for the monthly Short Sale and Foreclosure Real Estate Workshop sponsored by Oppenheim Law and Weston Title via webcast or come in person.

Want to learn more? Attend Oppenheim Law and  Weston Title‘s Real Estate Workshop this Wednesday, February 9 at 6pm via Oppenheim Law TV or 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

We’ll cover how the protests in Egypt, Florida’s new governor’s stimulus ideas, Obama’s agenda, bankrupt states, and even massive snowstorms are poised to make a direct impact on Florida foreclosures and short sales.

Technology, politics and the economy seem to be unfolding into one.

First let’s point out, there is a lot of BLAME going on, starting with the 500-page FCIC document, or should I say docu-drama. The in-depth analysis covers how we got to where we are today as it relates to the financial crisis, foreclosure crisis and housing crisis.

As taken from the official FCIC press release:

The Commission concluded that the crisis was avoidable and was caused by:

• Widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages;
• Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk;
• An explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis;
• Key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw;
• And systemic breaches in accountability and ethics at all levels.

But let’s be clear on BLAME; the last person that should be blamed in this mess is the homeowner.

Yet, the homeowner needs to make adjustments and say hello to a whole new set of rules.

We’ll be covering this in our next foreclosure defense workshop in addition to very important points emphasized in Obama’s SOTU address.

1. The economy has a new set of rules! Learn how to apply those rules to help your current crisis and remove yourself from the situation.

2. How will you reinvent yourself? The old economy of 2007 is not coming back, ever. It’s a new economy and like our own government, we must reinvent ourselves to adapt.

Foreclosures are becoming passé.  Short sales are the new economy.  Join us on Wednesday, February 9^th for the Oppenheim Law Real Estate and Economic Workshop.