Author: Oppenheim Law

Dodd-Frank Stalls Home Seller-Financing

Thu Jul 17, 2014 by on Florida Law News

The Dodd-Frank Wall Street Reform and Consumer Protection Act (or simply “Dodd-Frank”) was passed in 2010.  The passage of this Act was in effort to prevent the recurrence of the events that caused the 2008 financial crisis. The act also implements regulations that ultimately seek to create a greater certainty that borrowers can repay their home loans. The new Consumer […]

Independence Day 'big win' for thousands of homeowner's with distressed mortgages

Mon Jul 7, 2014 by on Florida Law News

The following article was written in the Daily Business Review by Samantha Joseph with excerpts by Roy Oppenheim, Oppenheim Law.  A deadline for lenders to collect balances on distressed mortgages was a “big win” for thousands of homeowners. Florida’s Fair Foreclosure Act, which took effect July 1, 2013, gave lenders one year from the date of foreclosure to sue homeowners […]

The economy is up, foreclosures are down but re-foreclosures are also up

Tue Jun 10, 2014 by on Florida Law News

As the Florida real estate and general economy are improving, with average sales prices increasing, the number of foreclosures dropping and unemployment also increasing a funny thing happened as we continue through this recovery: re-foreclosures are up. Re-foreclosures you ask?  That’s right. A re-foreclosure is when the bank for whatever reason dismissed the first foreclosure or in some cases homeowners […]

Banks have less than 30 days to file suit against homeowners for deficiency judgments

Tue Jun 3, 2014 by on Florida Law News

Starting today banks have less than 30 days to file suit against homeowners for deficiency judgments if the foreclosure judgement was entered any time before June 30, 2013. If the banks miss the deadline, the banks’ rights to continue with a deficiency for these older cases is over. After July 1, 2014 if one is foreclosed upon, in Florida, the […]

The Florida 5-Year Statute of Limitation Foreclosure Rule is Complex

Mon Jun 2, 2014 by on Florida Law News

Homeowner’s need to stand their ground and understand their rights. The application of Florida’s 5 year Statute of Limitations relating to a bank’s ability to foreclose a home (once 5 year’s has lapsed since the bank accelerated the loan)is in flux and a moving target. The Florida Supreme Court will now likely get involved and have the final say as […]

A Memorial Day Tribute

Mon May 26, 2014 by on Florida Law News

On this Memorial Day as we enjoy family and friends  we must take a moment to remember those who gave the ultimate sacrifice so that we can enjoy our liberty and lives free of outside interference.  We must also look at how our government treats our veterans as they return home from war. Have a great Memorial Day.  

The Tortoise and the Hare: Non-Judicial Foreclosures Equate to Faster, but not Sustainable Recoveries

Sat May 24, 2014 by on Florida Law News

Back in June of 2012 I wrote a column briefly explaining the difference between judicial and non-judicial foreclosure states and I debunked the myth that a housing recovery could only be had if a state was a non-judicial foreclosure state.  I explained that the idea of individuals having to give up their property rights is not a necessary ingredient in […]