Some feel like what the banks have done to the American homeowner is criminal. And they just might be right.

According to a investigation by CBS I-Team reporter Al Sunshine, 50 state attorney generals are investigating the foreclosure debacle. As it turns out, the bank you borrowed money from probably does not own your mortgage anymore. Many mortgages have been bundled up so they look safe for investors and then sold off, Sunshine says.

He estimates 95% of mortgages are now controlled by what’s called a servicer, which is a bank or financial company which handles your mortgage and monthly payment. They are the ones who collect fees and penalties from home owners, and according to Sunshine’s report, they are the first ones to make yet more money when a home is foreclosed.

And therein lies the problem with the mortgage system, foreclosure attorney Roy Oppenheim told Sunshine.

“It was in their interest to have the foreclosure go through the process versus a modification,” Oppenheim explained. “Typically the way the servicers were compensated, they would receive more compensation through a foreclosure than through a modification.”

So the interests of the borrower are in constant conflict with the interests of the servicer. Since they are often not the bank that lent you the money in the first place, there is little risk to them, and foreclosure is better for their bottom line.

“The whole process is wrought with conflicts of interest. It’s just a rotten bag of apples,” Oppenheim concluded.

If this is the boat you’re in right now, Oppenheim Law is here to help. Click here to view the entire story on CBS4: The Secret Truth about Foreclosures, or check out the video below:

Oppenheim and Sunshine come together again to discuss the depths of the South Florida foreclosure crisis. In the below clip, the pair examine the dismal real estate climate in Florida last summer:

No stranger to fighting the banks, foreclosure defense attorney and award-winning legal blogger Roy Oppenheim specializes in helping families fight foreclosures, while using his South Florida Law Blog to openly decry fraudulent foreclosure practices and ask: Why isn’t Wall Street in Jail? Veteran investigative reporter Al Sunshine has received numerous honors for his reporting, including the Miami Police Department Accuracy and Fairness Award (1976), the Florida Academy of Trial Lawyers Media Award (1991) and the Dade County Trial Lawyers Association Award (1992).

Foreclosure defense attorney Roy Oppenheim joined CBS 4 Chief Consumer Investigator Al Sunshine to analyze South Florida’s foreclosure numbers in order to help homeowners determine what they may expect in the coming months.

RealtyTrac reports foreclosures are continuing to rise in South Florida, even when compared to last year’s staggering numbers. With more than 277,000 filings, the State of Florida is now number two nationally behind only California. Broward County ranks third in Florida foreclosure filings, with 1 out of every 21 units in some form of foreclosure.

“In Florida there is clearly a backlog, and I don’t see the problem getting much better,” Oppenheim said in the report. “I don’t see it getting much worse, but the idea everyone is saying that the problem is getting better is nonsense.”

Check out the video below for the full interview including Oppenheim’s assessment of government-backed foreclosure programs. For the latest in South Florida real estate trends and foreclosure defense advice, follow Oppenheim Law on Twitter @OPLaw.

Save the Date! Oppenheim Law’s next foreclosure defense workshop is Wednesday, August 4 @ 6:00 pm. The theme is “Strategic Default: What We Can Learn from the Wealthy” hosted by Roy Oppenheim. Stay tuned for more information.

Reverse Mortgage Questions Answered Tonight
How does a reverse mortgage work?
Am I eligible for a reverse mortgage?
What is the best way to apply for a reverse mortgage?
What if the value of my home has dropped dramatically?
How do reverse mortgages stop the process of foreclosure?

CBS4 Reverse Mortgage Phone Bank
Who: Foreclosure Defense Law Firm Oppenheim Law + CBS4
When: Tonight, Monday September 21st from 5:30 – 6:00 PM
How: Call CBS4 305-597-4404 and speak to a foreclosure attorney

Oppenheim Law advises homeowners to be proactive and ask questions if they fear they may be facing foreclosure. Tonight’s phone bank will offer free advice for homeowners considering a reverse mortgage.

About Neighbors 4 Neighbors
Neighbors 4 Neighbors is the most identifiable public service campaign in the Miami-Fort Lauderdale market. South Florida viewers know Neighbors 4 Neighbors, consider it important, and respond to it in a remarkable way.

Here is a sampling of what Neighbors 4 Neighbors has done during the past fourteen years:
• Nearly 4 million calls have been logged in the phone bank
• More than $10 million in donations of cash, foods and services have gone to those in need
• Nearly 400,000 people have participated in the Neighbor’s Adopt-A-Family for the Holidays program

• More than 300 local social service agencies receive direct support from Neighbors

Want to become involved?
Contact Neighbors 4 Neighbors.

Want to follow Al Sunshine?
Connect with him on Facebook.

Want more info on reverse mortgages? Visit the Housing and Urban Development Web site for the Top 10 Things you should know if you’re interested in a reverse mortgage.

While South Florida is in the midst of hurricane season, many residents want to know who is responsible for abandoned and foreclosed homes before a storm strikes.

Luis Callard is a West Miami-Dade resident who’s worried about all the abandoned and foreclosed houses in his neighborhood.

“No one lives there, and there’s stuff in the back yard,” he tells CBS4′s Chief Consumer Investigator Al Sunshine. “What if a hurricane hits, with high winds?”

He’s not the only South Floridian who worries about that. With Florida among the national leaders in numbers of foreclosures, vacant homes and condos can be found in most neighborhoods. They’re no match for a hurricane.

Ron Szep of the Miami-Dade Building Department knows the problem.

“When the building is unsecured, when the wind can get inside that building, it will basically blow it apart. All the debris will be flying into your and your neighbors’ homes and cause severe damage.”

Szep says that’s the reason Miami-Dade County has a $200,000 program to board up abandoned homes.

So far, 120 of them have been secured, at an average cost of $3,000 each. The county eventually gets the money back by placing a lien on the property, which usually means the bank that foreclosed on the home pays the bill.

Chris Albury of the Miami-Dade Office of Neighborhood Compliance says it’s a good program, but it doesn’t happen overnight.

“On average, it takes about three months to get a house completely boarded up, from beginning to end,” explained Albury.

But in Broward County, there’s no coordinated countywide program to secure abandoned homes. Each municipality has its own building department, and concerned residents have to contact the right one.

So what if a hurricane is approaching, can you take matters into your own hands and secure that neighborhood eyesore?

Attorney Roy Oppenheim warns, “Legally, you can’t go onto private property.” But he adds, in an emergency, you may need to do things you wouldn’t otherwise do to keep safe. “You have to figure out what’s best for you and your family.”

The bottom line: It’s up to you to report abandoned and foreclosed homes to your homeowner’s association or your building department and have them clean up and secure those homes.

Read the full story about foreclosures and hurricanes on CBS4.com.

With the ever-changing real estate market, many South Florida residents are left with questions and concerns or are in need of real estate advice. Thanks to Al Sunshine of Miami’s CBS4, South Florida homeowners can call into this homeowner phone bank next Monday to have their questions addressed.

• Who: Oppenheim Law
• What: CBS 4 Neighbors 4 Neighbors Real Estate Phone Bank
• When: August 10th, from 5:00 to 6:30 PM
• Where: From the comfort of your home
• How: Call (305) 597-4404
• Why: Ask legal real estate questions about mortgage modifications and refinancing

Three times in the running, foreclosure attorney Roy Oppenheim has participated on the panel of real estate advisors and this week the entire panel of advisors will be compiled of the attorneys at Oppenheim Law.

So whether you are wondering about your legal options as a homeowner or want to find out the foreclosure process, Oppenheim Law will be there for guidance.

The number to call is (305) 597-4404 between 5:00 and 6:30 next Monday, August 10th. For more information visit www.cbs4.com.