Foreclosure King Dethroned

Another tale of greed and living high on the hog off the misery of others caught in the Big Bank/Gov't mortgage bubble.

bellinghamherald.com

During the housing crash, it was good to be a foreclosure king. David Stern was Florida’s top foreclosure lawyer, and he lived like an oil sheik. He piled up a collection of trophy properties, glided through town in a fleet of six-figure sports cars and, with his bombshell wife, partied on an ocean cruiser the size of a small hotel.

When homeowners fell behind on their mortgages, the banks flocked to “foreclosure mills” like Stern’s to push foreclosures through the courts on their behalf. To his megabank clients - Bank of America, Goldman Sachs, GMAC, Citibank and Wells Fargo - Stern was the ultimate Repo Man.

At industry gatherings, Stern bragged in his boyish voice of taking mortgages from the “cradle to the grave.” Of the federal government’s disastrous homeowner relief plan, which was supposed to keep people from getting evicted, he quipped: “Fortunately, it’s failing.”

The "root of all evil", seems to ring truer and truer each day. It looks like this guy's run has been derailed, but he is most likely still smiling and working on the next venture...

I guess the real question is how deep does this behavior go. From personal experience, I can say that it extends to other loan industries besides home foreclosures.

Of course we now have the "let us help you" foreclosure service companies cropping up. I wonder if Stern is one of them. Food for thought.

What does anyone really expect? Lawyers feed off of misery and this is just another example. It's absolutely despicable.

AS

He should have saved some money for a rainy day. I'm willing to bet he didn't invest his money but blew it on crap.

reply to post by AeonStorm


As much as I would love to agree with you, I just can't toss every lawyer into the same group that this guy belongs to.. call me naive, but I still believe there are good lawyers out there..

What do you do if you see 5 lawyers up to there knees in concrete.

Add more Concrete.

You will always find lawyers that will make a buck anyway possible.

but for everyone of the Foreclosure Kings you will find `10 that will use the laws to fight foreclosures.