FORT LAUDERDALE, Fla., Sept. 28 /PRNewswire/ -- Banks and law firms are under fire with the recent GMAC admission that it filed false foreclosure documents. Bad documentation, falsely notarizing signatures, and the courts pushing homeowners through the foreclosure process (also known as the "rocket docket") are coming to a quick halt as the tides turn on the banks in favor of the homeowner.
"It's as if the curtain has finally been pulled back," said Roy Oppenheim, a legal blogger and foreclosure defense attorney who has been predicting this house of cards for the past two years on his South Florida Law Blog. "The world now has evidence to what ends the banks will go to falsify documents and encourage individuals to perjure themselves by falsely notarizing signatures."
What does this mean to the Florida homeowner? Oppenheim shares his views and opinion on this unprecedented set of events at a free real estate workshop, which streams live via the web or in person on Wednesday, October 6 from 6-7 p.m. Topics include: the pros and cons of strategic defaults, short sales, loan modifications, deeds in lieu, and deficiency judgments.
Oppenheim Law spotlights how the recent bank errors are leaving foreclosures in question. The issue has broad consequences for the millions of buyers of foreclosed homes, some of whom might not have clear title to their bargain property. Certainly a "game changer" for underwater homeowners who might be facing foreclosure, such errors may also result in unforeseen opportunities for those who were evicted.
"This is the tip of an ugly iceberg," notes Oppenheim. "The impact of this news will have far-reaching effects to homeowners, home buyers, banks and title insurers. It will affect capital flows in the real estate market for years and rather than speed up the foreclosure process, this will gum it up and slow it down for years. Banks may be sued by their investors causing a major liquidity crisis in the future," predicts Oppenheim.
What: Underwater Homeowners, Bank Fraud Crisis Foreclosure Defense Workshop
When: Wednesday, October 6, 2010 - 6 to 7 p.m.
Who: What really works in foreclosure defense and what will work for you. Homeowners facing foreclosure or underwater mortgages, real estate professionals, buyers and sellers
Cost: Free with advanced registration
RSVP: To register, email firstname.lastname@example.org or call 954.384.6114
Oppenheim Law will broadcast October's Foreclosure Workshop online through the Oppenheim Law Strategic Default Channel. Participants are invited to ask questions and comment on the presentation through Oppenheim Law's Twitter account @OPLaw.
October's Foreclosure Defense Workshop will cover the following topics and more:
- What are your rights if the bank used perjured or fraudulent documents in your foreclosure?
- How to survive in a devaluing economy
- Hear the steps to a successful strategic default and strategic foreclosure
- Learn the process of foreclosure and how to fashion your own bailout
- Find out how Oppenheim Law is using the size of the foreclosure crisis against the banks to defend foreclosure and prevent deficiency judgments
- Definition of hardship and how to prove it
SOURCE Oppenheim Law