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Top 2010 Foreclosure Headlines from South Florida Law Blog

Wednesday, December 29th, 2010

As we approach the close of one of the most historical years in Florida real estate, the South Florida Law Blog wants to thank all of you for supporting our efforts throughout the year. In case you missed some posts, we are highlighting some of the interesting twists and turns the past year has delivered from “what to tell your kids about foreclosure” to the breaking of the foreclosure fraud crisis. If you have any suggestions for topics you’d like us to cover in 2011, or ways we can improve the blog, please let us know.

Top 2010 Foreclosure Headlines from South Florida Law Blog

In the meantime, here are the top 2010 headlines from South Florida Law blog:

1. What to Tell Our Kids About Foreclosure: From the Heart

2. Roy Oppenheim on “Asset Protection” Discusses Deficiency Judgments and Homeowner Negotiating Power

3. Even More Embarrassment for Banks: Foreclosure Fraud

4. Roy Oppenheim on Strategic Foreclosure: Shay’s Rebellion 2.0

5. Back To School: Learn the ABC’s and D for Deflation?

6. How the Banks Aren’t Playing Fair: CBS News, Roy Oppenheim Talks with Investigative Reporter Stephen Stock

7. Roy Oppenheim to the Wall Street Journal: “Your editorial will make future investors think twice about entire system”

8. Cracked! Humpty Dumpty, Chase, and GMAC: The Bank Mortgage Foreclosure Fraud Crisis Continues to Fall by Roy Oppenheim

9. The F Words: Fraud and Foreclosure – Watch Roy Oppenheim’s Workshop Replay on Bank Fraud and Mortgage Foreclosure
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Posted in Bank Fraud, CBS News, Family and Friends, Florida foreclosures, Florida Law News, Florida real estate, Foreclosure Fraud, GMAC, Roy Oppenheim, The New York Times, The Wall Street Journal | 2 Comments »

The F Words: Fraud and Foreclosure – Watch Roy Oppenheim’s Workshop Replay on Bank Fraud and Mortgage Foreclosure

Friday, October 8th, 2010

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.

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Posted in Bank Fraud, Florida foreclosures, Florida Law News, Florida real estate, Foreclosure Defense, Foreclosure Fraud, Foreclosure Workshop, GMAC, Roy Oppenheim | 3 Comments »

Why Foreclosure Judges Should Go To More High School Homecoming Football Games

Saturday, October 2nd, 2010

Roy Oppenheim with daughter Wendi Oppenheim

Last night was a truly special night. It may have been the highlight for me as a Dad! I was my daughter’s escort as she was a finalist for High School Homecoming Queen.

The game was close for most of the night and down by a touchdown. It was late in the fourth quarter. And then the big play came in; the quarterback threw from about the 35-yard line to the team’s star receiver in the end zone.

But wait. There were a series of flags and the refs called offensive pass interference and two personal penalties. The receiver had pushed himself off the defensemen propelling him into a position to catch the ball.

The Verdict: Touchdown does not count and the ball was placed back 30 yards further down field. The refs did their job and the fans accepted their fate.

Banks cheated, did not play by the rules

That’s when it all clicked for me. The banks cheated when they filed their foreclosures. They did not play by the rules. And the refs did not have the backbone to protect the integrity of the game.

If you check the “game” rulebook that is the most important function of a judge: To protect the integrity of the judicial system. Not to show favoritism, to remain impartial, and to be fair.

What the GMAC, JP Morgan Chase, and Bank of America Foreclosure Fraud crisis is demonstrating to the world is that when the judiciary does not apply the rules fairly they can jeopardize the integrity of the game.
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Posted in Bank Fraud, CBS News, Florida foreclosures, Florida Law News, Foreclosure Fraud, GMAC, Roy Oppenheim, Sun Sentinel | 4 Comments »

Cracked! Humpty Dumpty, Chase, and GMAC: The Bank Mortgage Foreclosure Fraud Crisis Continues to Fall by Roy Oppenheim

Friday, October 1st, 2010

Humpty Dumpty Foreclosure Fraud Oppenheim Law

Humpty Dumpty sat on the wall.
Humpty Dumpty had a great fall.
All the king’s horses and all the king’s men.
Couldn’t put Humpty Dumpty back together again.

Most Americans, including some lawyers and even judges don’t understand what happened. Yes, it is complex and confusing. But at the end it’s real simple.

In the old days, a bank would lend a homeowner money to buy a house. The homeowner would sign a promissory note promising to pay the money back to the bank. The homeowner also signed a mortgage, giving the bank the right to foreclose and take the house back if the homeowner did not pay back the money.

Mortgage Follows the Note

Lawyers and judges grew up with the legal doctrine that the “mortgage follows the Note.” Simply put, if the note was transferred from one bank to another the mortgage would follow the transfer.

But that was then, this is now.

At some point, the folks who brought you this mess (i.e. overly ambitious bankers on Wall Street) had the “great idea” of slicing and dicing the interest of the Note and literally severing it from the Mortgage. Why this was done was actually for a matter of convenience, expediency, and, arguably, greed. Such motivations for now are secondary to the crisis we are experiencing.

Humpty Dumpty = Mortgage and the Note

But this is clear: If you think of Humpty Dumpty as the Mortgage and Note, and you break it apart (as what occurred on Wall Street), when the Notes were broken into pieces and the mortgages were assigned to Mortgage Electronic Recording System (MERS), the fact is that it may well be nearly impossible to bring the mortgages and their corresponding Notes all back together again. Plain and simple!
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Posted in Florida foreclosures, Florida Law News, Florida real estate, Foreclosure Fraud, GMAC, Roy Oppenheim, Sun Sentinel | 6 Comments »

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