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

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.

Tags: Daily Business Review, Economic Outlook, Florida foreclosures, foreclosure filings, Oppenheim Law, Roy Oppenheim, strategic defaults, Strategic Foreclosures

5 responses to “Daily Business Review Spotlights Oppenheim Law and Strategic Default in Today’s Economic Outlook”

  1. AL says:

    Oh yes, and the foreclosed condos and houses by the Gulf Coast Beaches are surely going to go up in price as well. The future's so bright we gotta wear shades. GS hasn't been stealing the money, they are filling up dirigibles with bills and soon GS will make cash rain from the sky.

  2. AL says:

    Oh yes, and the foreclosed condos and houses by the Gulf Coast Beaches are surely going to go up in price as well. The future's so bright we gotta wear shades. GS hasn't been stealing the money, they are filling up dirigibles with bills and soon GS will make cash rain from the sky.

  3. Adam Smith says:

    Renting! My short sale just closed Monday and I moved in a townhouse last week. A few things needed to be fixed and it was only one call to the Landlord to get them done. Otherwise, I would have had to call a plumber and a locksmith!

    The cost of owning my old home was MUCH higher than the estimated costs in the illustration. My “American Dream” …
    Residential Real Estate

  4. Jamal Hack says:

    The Reality:
    How optimistic are we all about the future? Help me to understand! Economists and Politicians refer to this economic trauma that Americans are experiencing as a period of correction. I will not disagree with that logic.
    But at the same time we are being lead to believe that the economy is rebounding, an apparent increase of sales in the housing market is the widespread reason for such declaration. Well tell me, am I that daft? Every day another major corporation is filing bankruptcy, gross money mismanagement are being uncovered hundreds of thousands of Americans are loosing their jobs, more and more homes and other properties are going into foreclosure, Thousands of young adults are graduating from colleges etc, no jobs for them but expenses to be met,(shattered dreams) people are still migrating daily to this country in droves. Billions and Billions of tax-payers dollars are constantly being shelled out to reward Chief Executive Officers for recklessly and extravagantly misappropriating their company’s money.
    –If income potentials are rapidly slipping away what are we measuring “getting-better” by? Do we all have to be University Graduates to figure it out? Perhaps like those graduates who got us into this mess in the first place?

    What is going to happen when those recourses that new investors are using as leverage to fund the purchases of those already foreclosed properties? (which has created that false sense of economic recovery ?). In the very near future we will see many of those same properties going back into the foreclosed market. I see the same level of deception that the previous administration used to inflate the economy, being used again.

    The Banks/Mortgage companies will not let you have a loan if your income is less that your expenses or worst yet, if there is no income at all. (Or at least that is the way it should be) Or, so says the very intellectual and highly qualified financial advisors and accountants they employ who got us into this mess in the first place by their crafty, devious and malicious methods by which they deceive shareholders, and issued mortgages during the hay-days. The very real estate experts will now tell you that property values are not better than they would have been 10 years ago.

    The Government and its cronies are still financing and bailing the banks out of foreclosure status themselves. Where is the Government getting the money from? —– It is our money known as Taxes. The Banks and Mortgage companies are taking our monies and paying (Fattening) lawyers to demoralize & humiliate taxpayers and don’t care if these people now have to go live under bridges. (Are those the Bridges and roads that President Obama was speaking about in his campaign for presidency. Was this his plan for the stimulus money?) While the banks/Mortgage companies with their highly paid executives sit around their luxurious conference tables with lavish and scrum such lunches thinking of ways to scam the consumers, the average tax-payer is sweating and working their shoe souls off trying to make a living.

    Isn’t it time that the Government realize that the Banks and Mortgage Companies willfully ripped off the consumers? and are continuing to do so. They deliberately set the consumers up to fail so that they can double dip and fortify themselves. They pressure the consumer for repayment, or the take the property back, and then they claim money from Insurance Companies which insured those bad loans. ON TOP OF THAT WE (AFTER BEING THROWN ON THE STREETS) FEEL SORRY FOR THEM AND BAIL THEM OUT OF THEIR FINANCIAL DILEMA. They TAKE OUR MONEY train and pay bullies to call and harass defaulting mortgagees. They speak to decent, honest tax-payers as if they are strayed hungry puppies desperate for anything to eat. They take our money to do that to us, It seems we all like it. Instead of the Government giving them taxpayer’s money to do the same thing all over again, they should relieve the consumers. Where are all the “Law Makers” who promised to look out for the consumers Have they all gone Dumb and Blind, or are they all becoming part of the skullduggery?

    Fortunately or Unfortunately it took several years for Americans to become accustomed to the lifestyle they are living today. Say what you like they will not be able to reduce to that lower standard which this crisis demand, in a hurry, maybe 10 years may do it, or in some cases never.
    It will take several years before things will even be able to break even.
    What do we use to measure “EVEN”? Where we were before the collapse? Or when we all finally collapse?
    The very basic and main ingredient which propels a person to perform is their health. Health Insurance is a necessary evil today but has become prohibitively unaffordable. Stress is becoming the number one killer of Americans today and a significant percentage of our citizens cannot afford the treatment. Let us stop beating up on the Insurance Companies a little and look at why they have to charge higher premiums. Cover overhead expenses; pay claims; operate at a profit in order to maintain claims paying ability (Just to name a few). Start looking at the Astronomic cost of Pharmaceuticals; laboratory and other testing, prohibitive Premiums for Malpractice Insurance caused by high limits of frivolous law suits.

    It is the Government’s responsibility to level the playing field and stop giving the bullies their way to create havoc with people’s lives.

    The Banks/Mortgage companies have all the recourses to ensure that things go their way.
    The Starving strayed puppies (the consumers) are so eager to get what is offered to them just sign their lives away. They generally does not have the technical know-how to interpret Mortgage documents, they just accept what the eager-to-close agent tells them sign and leave.

    Have you ever seen a set of Mortgage Documents or have you ever tried taking a mortgage brokers license? (Just to see how easy or complex they are)

    Do not be FOOLED by anyone we are in this crisis for a very long time to come, we will not begin to come out of it until all the beasts and vultures are fed and satisfied. By then we are all on our knees without the energy or will to fight back.

    I hope that more of us will find the courage to say what you truly feel.
    Thank you for listening

  5. bark off says:

    Needed some info on this for a school paper thanks for this.