Archive for the ‘Home Ownership’ Category

Support of Florida foreclosure bill holds narrow lead in Tallahassee

Wednesday, June 5th, 2013

Real estate defense attorney Roy Oppenheim includes excerpts in the following article, written by Kimberly Miller, Palm Beach Post, Friday, May 31st, 2013, and republished in The South Florida Law Blog.

foreclosure bank ownedFlorida Gov. Rick Scott is facing heavy lobbying from both sides of the fast-track foreclosure bill that arrived on his desk this week.

Response in support of the plan, HB 87, narrowly outpaces those fighting the bill, which passed both chambers during the 2013 legislative session after years of debate and compromise.

Calls in favor of the legislation stood at 632 on Thursday, with opposition calls at 563.

Scott has until June 12 to take action on the bill, or he can allow it to become law without his signature. He’s been asked by homeowner advocates and Sen. Darren Soto, D-Orlando to veto the legislation on grounds that it violates historic property rights laws and puts more onus on the homeowner to prove why he or she shouldn’t lose their house.

“In the middle of the game this law would change the rules of current engagement of existing trials before judges,” said Oppenheim Law, South Florida real estate [foreclosure] defense attorney Roy Oppenheim, who opposes the bill. “This will only create more uncertainty and a host of new issues will ultimately arise.”

Proponents of the bill say it will streamline Florida’s meandering foreclosure process, making it easier to foreclose on abandoned and vacant homes while helping homeowners by reducing the amount of time a bank can pursue a borrower for unpaid debt from five years to one year.
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CFPB to Banks: Just Play Nice In the Sandbox

Saturday, January 26th, 2013

Roy Oppenheim’s commentary was originally published in US News and World Report’s Home Front Blog and is being redistributed on South Florida Law Blog with their permission

piggybanks425x283I have come to keep my expectations low every time a new housing fix gets unveiled, that way I am never disappointed.

Whether it’s the national mortgage settlement or the Independent Foreclosure Review, each of these 30,000 foot foreclosure prevention initiatives promise us an end to fraudulent practices and better standards in home mortgage lending.

But most of these programs are like vampires with dentures, they lack real bite. As long as Wall Street and the government resemble a Human Centipede, that will always be the case.

The new mortgage lending rules issued this month by the Consumer Financial Protection Bureau—which will be implemented starting in 2014—look great on paper, but as before these rules lack a thorough enforcement arm. And without one, what is the point of putting new lending policies in place at all?

In employment law, private right of action allows any employee improperly compensated to sue for unpaid overtime and recover attorney’s fees if they win the case. In other words, private right of action means individuals can enforce the law on behalf of the government.

If ever there was an area of consumer protection that screams for a private right of action, it would be any regulation that addresses home mortgage standards. Still, the CFPB admits no such right exists for borrowers in these new regulations.

When it comes to the banks and big business, they still have the dazzling ability to pull a fast one on regulators. Over the past 10 years they have been able to lobby politicians to ensure that the only way certain laws get enforced is through government involvement and government enforcement alone.
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New Ideas To Fix The Housing Crisis? Nothing to See Here

Monday, September 10th, 2012

Nothing To See HereWith the presidential race entering its final stretch and with the employment figures remaining effectively flat, one would think that the housing crisis would have already been front and center by now.

As I have said numerous times every economic recovery since the Depression has been led by the housing sector.

But only now do we have a fuller picture of both the Republicans’ and Democrats’ agendas on housing.

AND TO SAY THE LEAST I AM UNDERWHELMED.

In the wake of both conventions, each party has made their official party platforms public, and yes, they both at least try to address some aspects of the foreclosure crisis.

With the Democrats, there is a firmer grasp of the housing picture, but I still haven’t heard a solution from them that has the teeth to have a lasting impact.

They recognize the importance of refinancing, which is good, but to date nothing they have done has forced the banks to refinance. So the intent is there, but there is little actual follow through.

Not HARP or any of the alphabet soup programs created during the last four years have done anything to truly encourage refinancing. There’s too much please and thank you in the Democrats programs, when it is time for them to be the stern parent and send the banks to bed without their supper.

You must make refinancing in the banks’ best interest, to me the only way for that to happen would be to reinstate Franklin Roosevelt’s Home Owners Loan Corporation.

It closed up shop in the 1950’s, and mortgage lending hasn’t been the same since.
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The American Dream — Alive and Well

Thursday, June 7th, 2012

United States of AmericaI had the pleasure to speak to a spirited group of homeowners a few days ago in Delray Beach. I was invited to address a group of homeowners associations, but the group of 70 plus could easily have fit in with the people who walk through my doors every day.

They were frustrated, tired of hearing excuses, and they wanted answers on how the housing crisis will ultimately right itself.

Often the opinion that they conveyed to me, either directly or simply by the expression on their faces, was this — “What happened to the American Dream? Is it gone forever?”

And the answer is no. You may have to look extra hard for it, but it still remains; and it can be reached by everyone.

I found someone who is living the American Dream, and it made me smile. And in his story you will see the problem, but at the same time I think you will find the solution.

Why? Because the man, Eddy Kauffmann, lives in Switzerland. He is not an American citizen. At least not yet.

He is a retired banker who has found a way to turn this horrible mess of a housing market and use it to obtain his goal of becoming an United States citizen. At the same time, his success could have a positive impact on entire communities.

I in fact, come from Swiss lineage, as my mother was Swiss. The Swiss are extremely observant and methodical in nature. (See Swiss watches and banks!)

Perhaps that’s why this story caught my attention.
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