Posts Tagged ‘Oppenheim Law News’

Robo-Signing Returns, Raising Eyebrows and Acid Reflux

Sunday, July 24th, 2011


Oppenheim Law would never accuse the banks of committing fraud, perjury, impersonation, notary fraud, contempt of court, lying, violating Constitutional protections, or being tax cheats. Nevertheless, we do make this advisory: Be careful of what you sign.

Why?

As soon as you think the coast is clear, it’s the return of the robo-signers.

Suspected robo-signed documents are cropping up again in county deed records, according to the Associated Press. These new documents suggest the previous document mill scandals are part of an endemic problem at banks, not a one-off affair like the banks would have you believe.

In explaining the document mill scandals, banks claimed they were crushed by a gigantic amount of paperwork. It was while attempting to deal with such a large amount of paperwork that “mistakes” were made, according to the banks. Such claims are now being met with a raised eyebrow.

Registrars in several states have reported seeing suspicious documents. But now, the banks can’t claim they are under a mountain of paperwork: foreclosures, sales, and refinances are all at lower levels than they were in the past several years. Most of the documents under suspicion now are not even related to foreclosures. Rather, they mostly deal with new home purchases and refinances.

The banks are even using some of the exact same names heavily publicized when the scandals first broke like Linda Green and Crystal Moore. Such behavior points to an industry that sees itself as untouchable: too big to fail and too big to be regulated.

The proposed settlement between the banks and the states includes no criminal charges. Critics say that such slaps on the wrists only foster a culture of impunity, and they appear to be right.
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Oppenheim and WSJ Today: South Florida Real Estate Dilema = Pay + Stay or Strategic Default

Thursday, December 17th, 2009

95_WSJIt was 4:30 p.m. on Thanksgiving eve at my office, and I was enjoying a moment of quiet phones as I cleared my desk and my mind. The one call that did come was from The Wall Street Journal Real Estate reporter James (Bob) R. Hagarty. He was working on a story about homeowners who are creating their own bailouts, the coined name “strategic defaults.” Bob asked my thoughts on what a homeowner should know before they stop paying the mortgage: a tough decision and one that I help my clients make each day.

It just so happens one of my clients, Steven Olson, was also a phone call away, ready and willing to talk to Hagarty about how he came to his conclusion to stop paying and walk away.

This is a toxic time for homeowners in the real estate market. In good times, it would be unthinkable to stop paying the mortgage, but today it is the right option for some. Read the full story Debtor’s Dilemma: Pay the Mortgage or Walk Away on the Oppenheim Law News Room or in today’s Wall Street Journal on page A22.


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