Foreclosure and Banks Double Dipping is Headline News
Fri Apr 3, 2009 by Oppenheim Law on Florida Foreclosures & Florida Law News
This week I spoke with the Daily Business Review’s Terry Sheridan about fraudulent bank profits at homeowners’ expense. As an active real estate attorney and entrepreneur that has closed billions of dollars in real estate, I foresee a rebellion-of-sorts concerning our nation’s foreclosure and economic crisis. I have contacted the New York Attorney General, Andrew Cuomo about what I call “double-dipping,” when a banks seeks foreclosure after already receiving tax payer bailout money from insurance companies like AIG that insured the banks against foreclosures.
Read on for my entire question and answer session about banks double dipping at homeowners’ expense.
There are people out there who can no longer afford the home they are in. Many of these folks still have jobs, perhaps with reductions in pay or other issues, but still have good reliable income. The banks have comitted fraud in many ways out of greed. The housing market is a large part of the overall economy and it is not recovering, which hurts everyone. The lenders should let qualified folks relinquish their homes and be given new loans for a less expensive house which, at least, will help get rid of some of the backlog as well as not leaving neighborhoods riddled with vacant homes.
Thank you for your work. Where can I get more information about TARP monies, how the banks used that money, number of homes foreclosed, bank profits, etc.
Email me at jsip2@charter.net