Congress will quietly give homeowners their ceremonial Yule log this week that could save them on a massive tax bill. Roy explains more in the following video. The Ultimate Gift Congress Gives Homeowners. Continue reading
The following article was originally published in the Sun Sentinel with excerpts by Roy Oppenheim.
- Rising interest rates
- Strong US Dollar
- Devaluation of foreign currencies
While foreclosures have waned, South Florida real estate lawyer Roy Oppenheim predicts the housing recovery will slow in the coming months.
He said demand and prices will soften due to a mix of rising interest rates, a strong dollar and a devaluation in foreign currencies. That could lead to more foreclosures.
“I’m expecting a correction, but not anything like 2007 or 2008,” Oppenheim said.
If you thought that banks and the federal government were going to give up, think again.
Let’s say you are a distressed homeowner. Let’s say you have a hefty mortgage. Let’s also say that you are working with your bank on a loan modification. The chances are that one fine day you might receive a letter from a new owner of your mortgage and servicer. The letter will inform you that your mortgage was sold by your lender to a private equity firm and that a lawsuit is forthcoming, seeking to foreclose on your home. Right when the housing market was finally recovering, thousands of homeowners are now confronted with this new unfortunate chapter engineered by banks and by the federal government to deal with “underwater” mortgages: troubled loans are sold for a discount price at federal auctions to private equity firms, entities that are far more “creative” than banks in recovering from delinquent borrowers. Hence, the new breed of sharks. Continue reading
Every year just before Thanksgiving, as many as you know, I like to share some personal thoughts about the Thanksgiving holiday. It is, after all, a holiday I am most fond of for many reasons; but the reason that stands out year after year is that regardless of your ethnic background, your race, your economic position in life or your country of origin it is the one time we all come together AS ONE…ONE NATION…ONE PEOPLE… to give thanks for all the good in our respective lives. It is also a time that we see such good in humanity and people giving thanks by giving to those less fortunate. Wherever I turn, there is another food drive to make sure that at least for one day no one goes hungry in our great nation.
This year, in particular, I give thanks to all of our friends and clients that have supported our firm’s efforts during the past 25 years. It is hard to believe that we have had the privilege of serving the South Florida community for the past quarter century.
On that note Bruce Rogow a good friend and one of the most esteemed lawyers in the state, if not the country, recently found an old crumpled newspaper article that he had kept. The Miami Herald clipping was from 1992, telling the story about how Ellen and I left large law firm life and went from Wall Street to Main Street to pursue the dream of striking out on our own. Bruce found the article behind a drawer of an old desk he was having recently redone. A fascinating part about the article that I share with you here is that after all these years I remain truly thankful for having had the opportunity to pursue what for me was the American Dream. A dream consisting of simultaneously trying to be a sustaining force in the community while attempting to maintain a good sense of humor and have some fun along the way, and at all times maintaining for ourselves and our colleagues a healthy, work-life balance.
We are thankful for being able to remain passionate about what is so important in our lives, a drive that has not waned in a quarter century.
As I think back 25 years there was no email, no Internet just our non-networkable 286 MS.dos computers (actually we started with a TRS 80 made by Tandy). We had one fax machine that my parents purchased for us for $850 as a gift for starting our firm. And so it began…but it was our friends, relatives, colleagues and clients that pushed us along the way and to them we are eternally grateful and thankful this Thanksgiving.
We only ask that we may continue to serve the community for, in the end, such service is how we pay it forward for those who have supported us these past 25 years.
From my family and the firm to all of you, we wish you and your families all the very best this Thanksgiving.
From the trenches,