Posts Tagged ‘GMAC’

Foreclosure Clean-Up Gets Police Response, But Not Bank Fraud?

Monday, May 7th, 2012

A group from the Miami Workers Center clean up the area around an abandoned bank-owned house, as police officers wait nearby (Photo Courtesy:Miami Workers Group)

It never ceases to amaze me the glaring duality of the world I live in.

I am constantly reminded that we live in world where you and I have to play by one set of rules, yet the vast financial complex that resides on Wall Street isn’t held to even a fraction of those standards.

The latest example comes way of a small protest in Liberty City last week.

A few members of the Miami Workers Center, a grassroots organization, arrived at an abandoned foreclosed home, a property that like countless others is nothing more than a glorified trash dump.

Their nefarious plot? To clean the home up, and try to make it a little less of an eyesore.

Scary right?

And what did this group, which included a grandmother and an pregnant woman, encounter when they arrived at that home?

About a half dozen cops, who threatened to arrest any of them if they stepped foot on the Bank Of America-owned property.

The protesters, to their credit, didn’t give up and cleaned up the public areas around the home. Not once was a burglary tool spotted.

The officers watched over these men and women like mother hens as they picked up beer bottles and broken glass, among other fabulous ‘accessories’ the home had accumulated over the last few years. (Bank of America took the home in 2010.)

But when the banks not only trespass, but break into my clients homes? How many police officers can I get on the case? Not a single one.
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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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Foreclosure Circus Act? Banks Apologize and Homeowners Suffer, Roy Oppenheim Responds

Tuesday, October 12th, 2010

It is not just the daily news, it is the hourly news. The Wall Street Journal and The New York Times are reporting multiple stories daily about the unfolding developments and ramifications of the recent suspensions by four major companies that service mortgages and how this crisis will undoubtedly slow the housing recovery.

Foreclosure Fraud

Roy Oppenheim wrote a letter to the editor of The Wall Street Journal in response to its The Politics of Foreclosure editorial that ran Saturday, October 9th. Oppenheim’s letter pointed out how the opinion article missed a number of significant legal, as well as macro-economic issues, that South Florida Law Blog will post if it is not printed by The Wall Street Journal.

Yesterday’s Wall Street Journal article: Foreclosures, Forestalled by reporter Robbie Whelan discusses the cause and effect this moratorium could have on the housing recovery.

Here is an excerpt:

Consumer advocates say the judicial process gives consumers a better chance to work out their problems. But Florida’s court system is so overwhelmed with foreclosures that last year it began calling judges out of retirement to handle hundreds of foreclosure cases a day in a forum that became known as the “rocket docket.”

The New York Times article: A Foreclosure Tightrope for Democrats had some profound quotes worth sharing.

“Irresponsible banks need to be held accountable, but if we have not found a problem with a bank’s process we do not believe that we should impose a moratorium where that can hurt the market and hurt individual buyers,” said Shaun Donovan, secretary of Housing and Urban Development.
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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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