A Santa Clarita realtor is encouraging the community to “make noise” about the rising number of seemingly unjust foreclosures he believes are set in motion as a result of banks and servicers no longer having any “oversight” forcing them to behave ethically today.

“Because there is no oversight, these guys can do whatever the heck they want,” said Richard Szerman of Alta Realty Group, who offers free foreclosure defense services to the public.

Szerman noted that in previous years, the Consumer Financial Protection Bureau and Keep Your Home California helped ensure banks and servicers followed more ethical practices, but that these organizations were shut down, and the consequences have been evident.

Related: Santa Clarita Realtor Continues To Offer Free Foreclosure Defense Services To Community

“I draw this parallel all the time — imagine if (in) any major city, the police just said, ‘You know what? We’ve had it with this part of the city. This three-block by three-block radius, we’re out. We’re not doing it anymore,’” Szerman explained. “Imagine what the center of any large city would look like if there was suddenly no oversight of any sort in whatever area was designated. It would be very bad very quickly.”

One of Szerman’s current clients is facing foreclosure after her bank denied her a loan modification, requested in writing that she do a short sale on the house instead, and then declined the short sale offer while repeatedly refusing to give any reason why, according to Szerman.

Szerman pointed out that in this case, his client’s bank will likely lose about $100,000 by foreclosing instead of accepting the short sale offer, but that this type of “incompetent,” “foolish,” “mammoth” mistake likely won’t cost anyone at the bank their job.

“This is the same kind of nonsense we saw in the banking industry leading up to the 2008 crash, and that is the exact same attitude we’re getting now,” Szerman said. “We see this across the board. The servicers act this way, the banks act this way, and (it’s) because there is no oversight, even by their own shareholders, it would seem.”

While most people’s instinct is not to talk about financial difficulties or get involved until something directly affects them, Szerman is encouraging the community to come together in an effort to make a difference for the families who are currently facing these apparently unjust foreclosures, or will be in the future.

This can be as simple as going on social media and commenting on or sharing foreclosure stories often published by KHTS, or contacting local elected officials, according to Szerman, whose office can help direct interested residents on how to reach out to government representatives.

“You make as much noise as you possibly can,” he said. “We have power en masse; we do not have power individually… It’s only if we band together in groups that these things get done, and that’s really what we need to do.”

Ed. Note: This article is a KHTS Community Spotlight based on a recent radio interview with Richard Szerman of Alta Realty Group. 

Santa Clarita realtor Richard Szerman, of Alta Realty Group, has more than two decades of experience as a realtor. After “quietly” conducting public outreach and pro bono work as a realtor in Santa Clarita for many years, Szerman is raising awareness about the opportunities available to the community through Alta Realty Group. He offers free foreclosure defense services to the public, gives clients money to buy a house based on the rent they have previously paid, and gives sellers money to fix up their house in an effort to help it sell at a higher price. The Rental Rebate, Free Loan Modification and Resale Renovation Programs are designed to help make it easier to buy a house, sell a house and even save a house from foreclosure.

Richard Szerman, Alta Realty Group

27451 Tourney Road, Ste #140

Valencia, CA  91355

Office: 661-253-3000

To call/text Richard directly: 661-714-1400

Richard Szerman, Alta Realty Group – Santa Clarita

https://www.youtube.com/watch?v=iek6YRj7e00

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