Posts Tagged ‘strategic defaults’

Florida Foreclosures Make International News: Roy Oppenheim Contributes

Monday, August 2nd, 2010

States like Florida and California are obvious centers of attention when it comes to foreclosure, and many people throughout the world, who own real estate in Florida, are affected by this crisis.

The global nature of our country’s real estate market came into focus when reporters from the BBC and Croatian National TV looking to do a feature commentary on Florida foreclosures and local real estate trends contacted Oppenheim Law.

Roy Oppenheim sat down with Croatian TV correspondent Branka Slavica to explain how the foreclosure defense attorneys at Oppenheim Law are helping homeowners defend foreclosure, avoid deficiency judgments, execute short sales and successfully complete strategic defaults.

Check out the video below for the full Croatian TV report on Florida foreclosures and for more information on how Oppenheim Law is helping homeowners escape underwater mortgages through options such as short sales, loan modifications, deeds in lieu, and strategic default, tune in next Wednesday to our Free Strategic Foreclosure Workshop at 6 PM.

Play It Again! Oppenheim Law Strategic Default Workshop

Thursday, July 8th, 2010

Miss out on Wednesday’s Oppenheim Law’s Strategic Default Workshop? The next best thing to being there is the replay.

Hundreds of homeowners participated as Roy Oppenheim shared the latest on foreclosure defense, strategic defaults and South Florida real estate trends.

Oppenheim Law is making July’s Strategic Default Workshop available until Thursday, July 15.

Let us know what you think in the comments section below.

Workshop for the Upside Down and Underwater – LIVE ONLINE July 7 at 6 PM

Tuesday, July 6th, 2010

Underwater on your mortgage? It seems like regardless of financial or social status, someone is upside down, underwater or ready to walk.

July 7th is your chance to get answers to your real estate questions as Roy Oppenheim hosts his free monthly Foreclosure Workshop LIVE ONLINE and in Weston, FL.

Join Oppenheim, recently profiled in the South Florida Sun-Sentinel, tomorrow night as he explains why homeowners on the verge of Shay’s Rebellion 2.0 hold the power and means to fashion their own financial bailout.

What: Strategic Defaults + Foreclosure Explained: Free Workshop

When: Wednesday, July 7, 2010 – 6:00 to 7:00 PM

Who: Homeowners facing foreclosure or underwater mortgages, real estate professionals, buyers and sellers

Where: Oppenheim Law Online Stream

Or come in person: 2500 Weston Road, Suite 404, Weston, FL 33331

Cost: Free with advanced registration

RSVP: To register email roy@oplaw.net or call 954.384.6114

Unable to make it to Weston or want to watch from home? Simply visit www.oppenheimlaw.payperlive.com at 6 PM tomorrow night to participate in the commercial-free high quality broadcast. Ask questions and get answers just like you were in the live audience.

Check out the video below for a preview of the Foreclosure Workshop and Oppenheim Law looks forward to seeing you tomorrow night!

Daily Business Review Spotlights Oppenheim Law and Strategic Default in Today’s Economic Outlook

Friday, June 25th, 2010

Daily Business Review Oppenheim Law

Is strategic default nearing its peak? Oppenheim Law doesn’t think so.

Pointing to recent positive indicators in the economy and real estate market, today’s Daily Business Review poses this question to foreclosure defense attorney Roy Oppenheim in today’s Economic Outlook.

Signals of stabilization in South Florida real estate include:

  • The Florida Association of Realtors reported May data showing year-over-year increases in the median prices of single-family home sales.
  • Default Research of Mount Pleasant, Pennsylvania, reported that initial foreclosure filings in Broward, Miami-Dade and Palm Beach counties fell 51 percent in May, compared with April.

A turnaround in home prices could eliminate the incentive to voluntarily enter foreclosure through strategic defaults. “If prices start going up, they wouldn’t be upside-down anymore,” Oppenheim said in the Daily Business Review. “But I don’t see that happening for awhile.”

Check out the entire Daily Business Review article in the Oppenheim Law Newsroom.

Roy Oppenheim on Strategic Foreclosure: Shay’s Rebellion 2.0

Thursday, May 20th, 2010

A silent rebellion has begun. This time there will be no drums or shots fired. In fact, no one will hear anything. Not even footsteps.

Homeowners have reached a tipping point of sorts: 7 million homeowners are currently underwater. They are defaulting on their mortgages. One by one they are part of Shay’s Rebellion 2.0, a rebellion being fought on the frontlines of foreclosure through strategic default.

This time however, it’s not just western Massachusetts, but a silent battalion of millions of underwater homeowners across every state that have declared a consumer rebellion. These new warriors are no longer worried about a bad credit score; instead they are concerned with their family’s economic future. They no longer trust a Congress they believe has been hijacked by a few large financial institutions. They also instinctively know their collective actions can quickly have devastating consequences to these oligarchic financial institutions.

This time, the Rebellion is a boycott caused by the banks’ own audacity, by thinking that they could take over the polity of this nation by growing too large for any President, Federal Reserve, or Congress.

Most experts suggest families are making a rational economic decision in walking away. Businesses decide to walk away from investments all the time. Oppenheim Law recognizes that families have an obligation to themselves and may feel compelled to break contracts just like any commercial real estate owner.

In fact, Time Equities, the owner of Tudor City in Manhattan, did exactly that when they walked away from billions in the largest strategic default in the history of the United States. Did we hear anyone say such conduct by these owners was immoral or unethical?
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Strategic Defaults: CBS and 60 Minutes Follow Oppenheim Law’s Lead

Friday, May 14th, 2010

Strategic defaults are here to stay: It’s estimated that at least 1 million homeowners who can afford to pay their mortgage chose to simply walk away last year, according to CBS and 60 Minutes.

After doing the math and watching property values shrink in some instances to less than half of what’s owed on a mortgage, homeowners are opting to rid their underwater property and start fresh.

According to 60 Minutes, more than 11 million homeowners across the country are underwater, and it’s estimated that number could double in the next year.

This means nearly half of all American mortgage holders will owe more on their homes than those homes are currently worth.

Oppenheim Law has presented the theory of strategic default in our monthly Florida Foreclosure Defense Workshops and also with FOX News WSVN and CBS 4 News. Check out the videos below.

“We’ve been through an event that none of us have ever experienced in this country since the Depression,” David Stevens, the commissioner of the Federal Housing Administration, told Morley Safer and 60 Minutes.

Check out the entire 60 Minutes strategic default segment below and share your thoughts in the comments section.


Watch CBS News Videos Online


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