Despite 377 complaints to the Florida Bar related to foreclosure fraud, not a single attorney has been sanctioned. Stern remains a member in good standing.
Thousands of foreclosures in limbo one year after Stern firm’s collapse
The so-called foreclosure king of Florida knew his reign was over four months before his law firm’s doors would officially shutter.
“There’s nothing left for you here. There’s nothing left for me here. We’re done. And that’s the end of the story,” one of David J. Stern’s chief employees remembers him telling her in November 2010, according to her deposition.
The conversation followed what Stern characterized in his own deposition as the “unexpected catastrophic event” of being fired by the two biggest clients of his massive home repossession empire.
On March 31, 2011, he closed the firm, leaving as many as 100,000 Florida foreclosures, or nearly a third of the state’s backlog, in limbo.
A year later, thousands of his company’s former cases are still sputtering through the courts, sometimes stalled as new attorneys get their bearings or even dismissed so fresh paperwork can be filed, foreclosure defense attorneys say.
In fact, in the year since the epic collapse of Stern’s firm, much is unresolved.
Rest from the Palm Beach Post here…