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Roy David Oppenheim

Roy Oppenheim’s Answers

5 total

  • Short sale and the listing agent. What to be carefull about when only one of two homeowners is sighning on a short sale??

    We saw this home in a short sale and contacted the listing agent, after we met with him at the house and had a walk through decided to put an offer on it. The strange part is that the listing agen was sugesting to offer way below what we were plan...

    Roy’s Answer

    From the facts as you present them, the signatures of both the husband and wife are necessary. You should absolutely consult with a real estate attorney before proceeding further.

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  • Should I even respond to a foreclosure summons?

    My name is on the title but not on the mortgage. The person on the mortgage is deceased. I inherited the property because it was homesteaded and therefore did not enter probate. I have been summoned for Lis Pendens. I do not wish to keep the house...

    Roy’s Answer

    The worst possible thing to do is ignore it. I don't have enough information to know if you would ultimately be held liable, but if you don't respond then you will lose options. Step in front of it now. It would be wise to have an attorney walk you through the process.

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  • Foreclosure requirements?

    I know nothing about this topic. Can a person just decide that he does not want to make the payment for some property and go into foreclosure? Does he have to prove that he cannot make the payment? Does bankruptcy go with not keeping your end of t...

    Roy’s Answer

    All of the answers provided so far have been excellent. If you stop making mortgage payments not because of financial hardship, that is known as strategic default. Choosing to engage in strategic default is something ultimately you have to decide to do. Some borrowers have done so because their homes are so underwater that from a financial perspective solely, it makes little sense to make payments on a mortgage that outweighs the value of the home.

    Businesses walk away from bad deals all the time, yet there is still a 'moral contagion' concern when it comes to home ownership. However foreclosures are speeding back up again, so if you simply stop paying, especially without an attorney helping you, I believe in 2012 you will be foreclosed on quicker than you might have been say a year or two ago.

    That's why hiring an attorney is crucial. For one, your bank might no longer own your note, and might have engaged in fraudulent activity in selling it off. If we can prove that, as we have in 20 percent in our cases, we can get a foreclosure stopped entirely.

    If not, then we can help you negotiate a loan modification. Another strong option to consider is a short sale. If it's your desire to walk away from the home entirely, a short sale is often the way to go. Banks are agreeing to more and more these days because it's easier and more cost effective for them to agree to a short sale than to proceed with a foreclosure. A short sale is where you sell the home back to the bank for less than the amount your originally borrowed. This is usually done when the home is underwater. We have in many cases negotiated a short sale where the borrowers does not have to pay the deficiency (the amount between the sale price and your original mortgage) And some lenders will pay you money, in some cases as much as 35,000, to agree to the short sale. I wouldn't call it a profit, (its more typical to receive 5-10K) but that's money you can use for moving expenses or rent.

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  • Looking for a good real estate lawyer in Miami (Sunny isles, Aventura, Miami Beach)?

    any one knows a good one?

    Roy’s Answer

    We would be happy to help you. We are one of Florida's leading foreclosure defense firms. Please check us out!

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  • What effect does the filing of a certificate of title have on a real property?

    This property is in foreclosure. The bank filed a certificate of title in 2010, and apparently there is a time allowed for objections to a sale of the property that has now expired. What effect does this have on the title to the property. If so...

    Roy’s Answer

    The property was sold at a foreclosure sale. The Bank likely was the highest bidder. After the sale you have 10 days to object to the sale. At the sale the court issues a certificate of sale. After those 10 days, if no objection is filed a certificate of title is issued. Then it is usually game over.

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