Foreclosure King Stern “Lives the Life of a “Oil Rich Sheik”

Former Employees Suing Prominent Broward Attorney David J. Stern For Not Giving 60 Days Notice and No Severance Pay While Stern Lives the Life of a “Oil Rich Sheik”

Today, December 03, 2010, 2 hours ago | pibillwarnerGo to full article

Friday, December 03, 2010

PLANTATION — Four former employees of the Law Firm of David J. Stern and its’ related foreclosure processing company — DJSP Enterprises, have filed a federal lawsuit claiming they were not given proper notice before being fired.

The employees allege Stern violated the Worker Adjustment and Retraining Notification Act, or WARN, which mandates that employers give employees 60 days notice before being terminated.

Nikki Mack is one of the employees suing. She worked for Stern for 14 years rising from a receptionist to an office assistant. She was fired in October and was shocked when she saw a form email announcing that due to a lack of new business, she had been “selected to be part of the cutbacks.”

Mack said she left the office on the day of her firing in tears, without severance pay and only days left on her health insurance coverage. That is what really steams her.

Mack said Stern knew that suffered through cancer treatments for lymphoma for six months and yet he allowed her health insurance coverage to end.  “I worked all through the treatments, I feel hurt that this is happening,” Mack told CBS 4′s Carey Codd. “He knew the situation I was going through with my illness.”

“These employees didn’t do anything wrong,” said attorney Gary Farmer. “They were hard workers, showing up on time, doing their jobs and they were unceremoniously cut loose simply because David Stern — from the bridge of his yacht — decided he didn’t need them anymore because his profits were down.”

Foreclosure Attorney David J. Stern Leads the Life of a Oil Rich Sheik While Destroying The Lives of Thousands of Florida Homeowners, ‘Su Casa es Mi Casa, Your House is My House’ Exclusive See His Photos”.The arrogant David J. Stern at one time was going to name his 130′  foot boat, ‘Su Casa es Mi Casa,’ Your House Is My House, but his wife at the time nixed that idea, word has it that Stern has ordered a new 160′ foot boat to replace the 130′ footer (too small for his tastes), let’s see if the ‘Su Casa es Mi Casa’ name shows up on the new boat. From reliable sources in Fort Lauderdale Fl, it appears that Foreclosure Attorney David J. Stern, his photo above, reaped $58.5 million by selling his back-office operations to a new public company (DJSP Enterprises) which has tanked.  Stern has an assortment of 13 or so Porsche, Ferrari, Mercedes and Cadillac vehicles and at one time a 2008 Bugatti Veyron that cost about $1,800,000 or more. 

DJSP Enterprises Inc and David J. Stern Under Investor Investigation Over Federal Securities Laws Violations, David J. Stern Law Office in Plantation Fl Directly Linked to DJSP Enterprises.

An investigation on behalf of investors in DJSP Enterprises, Inc (NASDAQ:DJSP) securities over possible violations of Federal Securities Laws by DJSP Enterprises was announced in June 2010.

DJSP Enterprises went public on the NASDAQ in mid January 2010 and quickly reached a high of $13.65 per share, today December 3rd, 2010 just 11 months later, the NASDAQ quote on DJSP Enterprises stock is .52 cents, “OK boys rev up those Federal Indictments”.

28 Responses

  1. “Well, you being a former Stern employee, I guess we can see where your attitude comes from.”

    LOL I don’t have an attitude, I’m just stating my opinion but you view it as attitude…irony

    “Just about everyday you hear about people who are paying their mortgages are in foreclosure because of Stern and his practice of they don’t give a crap, just take the house.”

    a few, maybe but not “every day” occurrences. What you don’t understand about a foreclosure firm is that the complaint is filed with the information given to the firm by the lender. If the lender sends over a referral stating the last payment was made 6 months ago, then the complaint gets filed and moves forward until the lender tells them to stop it.

    “You even stated his practices were shady…but he was foreclosing on people who defaulted etc.. So what the hell. So it is OK for him to use shady practices just because people defaulted and in some cases people who didn’t?”

    I stated that there were some shady practices, that actually doesnt make the practices illegal And Yes, I do think that because these people defaulted, they should be foreclosed. What else do you suggest they do with people who defaulted?

    “You fail to realize that there were laws set up to follow and just because someone defaulted on their loan for whatever reason does not make it right to commit FRAUD. You know it goes both ways. If you can’t make your mortgage payment, then you get foreclosed on. If you can’t prove you have the right to foreclose, then you don’t foreclose. You don’t make it right by using shady practices. Guess that 6 months at Stern’s office really corrupted your way of thinking.”

    LOL call me corrupt all you want, I know that if I don’t pay my mortgage I’m going to lose my house. Call that corruption, but I call it common sense.

  2. @legalasst

    Well, you being a former Stern employee, I guess we can see where your attitude comes from. Just about everyday you hear about people who are paying their mortgages are in foreclosure because of Stern and his practice of they don’t give a crap, just take the house. More money for him. You even stated his practices were shady… but he was foreclosing on people who defaulted etc. So what the hell. So it is OK for him to use shady practices just because people defaulted and in some cases people who didn’t?

    You fail to realize that there were laws set up to follow and just because someone defaulted on their loan for whatever reason does not make it right to commit FRAUD. You know it goes both ways. If you can’t make your mortgage payment, then you get foreclosed on. If you can’t prove you have the right to foreclose, then you don’t foreclose. You don’t make it right by using shady practices. Guess that 6 months at Stern’s office really corrupted your way of thinking.

  3. My friends neighbors came home from shopping Saturday Dec. 11th to find everything they own in their yard. Their food, Christmas Tree, Presents, kids stuff, EVERYTHING. There locks were changed, with a note that read if you enter you will go to jail!

    They were doing a Home Modification!!!

    MERRY CHRISTMAS!!!!

  4. @Neva: what difference does it make if the loan is sold to another lender/servicer? It has happened since the beginning of time. I’ve worked on loans as old as 1980s, and they were assigned. Banks are constantly selling their assets…

  5. I would like to say that BAC Home Loans is targeting anybody with a house.

    I did not do a Home Modification nor, am I LATE ON MY PAYMENTS!!!! But like most of the people on these foreclosure sites, I am in a fight with BAC to keep out of Foreclosure.

    I live in a non-judicial State. I had to go & pay an Attorney my hard earned money to keep BAC from STEALING MY HOUSE!!!

    They have reported that I have not made a payment in 4 months on my credit, even though they have proof that I have not missed a payment.

    THIS FORECLOSURE MESS IS WAY WORST THAN PEOPLE REALIZE!!!!!!!!!!!!

    EVERYBODY WITH A HOUSE BETTER BE CONCERNED & QUIT JUDGING OTHERS WHEN YOU COULD BE NEXT!!!!

  6. Regarding the predatory loan situation: these loans were not only predatory from day one, they were fraudulent. Selling a loan to someone and not disclosing that it would be sold multiple times and that MERS destroyed your line of title so that you don’t even own your loan–well, that is fraud and misrepresentation. No one would have gotten the loan if they knew that.

  7. @msj: No, I don’t work for a foreclosure mill. But, I did work for a foreclosure law firm for the first 5 years of my career. And I worked at Stern’s office for about 6 months. I haven’t done foreclosure work in about 5 years.

    @Neva: I agree with you, there are predatory lenders out there, and a lot of these mortgages that have gone bust were a result of predatory lending. HOWEVER, that does not negate the fact that the mortgages weren’t paid. If you go to the bank trying to buy a $500k house ona $30k salary, you deserve to lose your house. I’m sorry, but that is classic living beyond your means.

    Most of the loans that went bust as a result of the burst in the housingbubble were ARMs…If you sign a document and don’t understand the terms, well that’s your problem. The nature of an ARM is that the interest rate changes.

    Again, I agree that predatory lending is part of the problem, but why weren’t these people who are now claiming fraud claiming it before their loan went into default?

  8. A NATION OF SHEEP BEGETS A GOVERNMENT OF WOLVES. Edward R. Murrow

  9. This much I can tell about anybody working for a foreclosure mill: You will lose your job quite soon. A fraudulent document cannot be used to correct another fraudulent document. Also, does anybody know the meaning of predatory lending? If I go to the lender and say, “I want to buy a $500,000 house, but I only make $30,000 a year.” The lender is supposed to tell you that you cannot buy that house, not give you a loan so they can collect their ILLEGAL fees. http://www.challengingforeclosure.com Sirak@challengingforeclosure.com

  10. @legalasst,

    Yes, I guess you would feel this way being that you probably work for a FRAUDCLOSURE MILL LAWYER YOURSELF…..CROOKED MINDS & CROOKED CROOKS ALWAYS FLOCK TOGETHER

  11. DJS didn’t get rich by foreclosing on people who paid their mortgage. granted, some of the business practices were apparently shady…but he was foreclosing on people who defaulted on their mortgage. you don’t pay your mortgage – you lose your home. it’s that simple.

    i’m not mad at DJS for doing his job.

    it’s a dirty job but someone has to do it.

  12. Pj,

    Yes — and there are other law firms who have been “hired” by Fannie/Freddie. Problem is — Fannie/Freddie do not even know what they still own.

    Hmmmmmmmmm

  13. The reason David Stern can order a new 160-footer to replace the 130-footer is that he sold the Company to “investors” for some astronomical amount, roughly 160MM, or $53/share, and today those shares are at 78 cents. After plundering houses, Stern then plunders the greedy bottom-feeder types who want to get in on the bandwagon. At this point he has thousands of mortal enemies. Seems not to mind, though.

  14. Move over Steven J. Baum and Fein, Such & Crane in NY & NJ, you’re next….. I have no sympathy for any of them. the only sympathy I have for them is that they’re all going to hell on judgement day… What a bunch of idiots..

  15. Vengeance is mine, sayeth the Lord. So Stern will get his. Don’t they always usually get swatted dead like the filthy flies they are? It may take a year, two or more, but in God’s world evil cannot and does does not prevail in the end. Remember the Beatitudes Mathew 5 1-12. I would rather have my house foreclosed upon or lose my job, than suffer the wrath of God on me and my family like Stern shall surely suffer. Attila the Hun died a horrible death by bleeding to death from either a nose bleed or hemorrhage from esophagus rupture. Hitler also live a life of luxury for a minute. Look it up, All EVIL men wind up being dealt with by our God Father.

  16. I say bring them into our fold. you can never tell what info. they have or could bring to light that we don’t know and imagine if they did join us what a force we could have, remember folks lead by example.

  17. DJS= Scumbag!!!!! sometimes the situation our country is in REALLY makes me very sad, what happened to our beloved America? wake up folks, we must reclaim it now, before our lives as we know it are change forever.

  18. I do not feel sorry for the fired Stern employees. These employees had to have known what was going on in the company. Didn’t any of these people read the papers or use the internet? My feeling is lots of them put up blinders while others just didn’t care because they did not want to end up like the homeowners who fell victim to Stern and his cronies. What made these people think that Stern had any interest in their well being? Now they are complaining because they lost thier jobs. Well join the club and this club is not any fun. If Stern’s office could not follow the law in doing foreclosures, why would he follow the law in firing the employees? Think about it, he does not care about anyone but himself. Wake up Stern employees, you are on your own.

  19. The only Stern employees that I would make an exception for are those who can claim extenuating circumstances, such has the employee in cancer treatment. Given that it is still impossible to get insurance or change jobs when you have a cancer diagnosis, I would see such employees as being trapped in the job with Stern.

  20. Lets keep in mind folks that Mr. Stern was named “Attorney of the Year” twice by Fannie Mae! he also got his training from Gerald Shapiro founder of the LOGS Network, who by the way recently “defaulted” on a personal commercial property… Whats good for the goose is good for the gander… hope these X employees sing like canaries!

  21. […] This post was mentioned on Twitter by USA Advocate, Financial Wellness. Financial Wellness said: Posted on December 3, 2010 by Foreclosureblues Former Employees Suing Prominent Broward Attorney David J. Ster… http://bit.ly/gjk2or […]

  22. Is Stern still within the legal limits of the US? Isn’t there a marshall out there searching for him? If there isn’t, there should be. His vessel is ocean-going obviously. He can take off to somewhere in the Bahamas or Brazal where there is no extradition. What bank in the Cayman Islands is his bank account. Where is the CIA/FBI when we need them? This guy needs to be prosecuted and do jail time just like Bernie Madoff. Where is the justice in the USofA? http://www.challengingforeclosure.com Sirak@challengingforeclosure.com

  23. The chickens came home to roost. What did they think they were doing working there? Sending out good tidings? This to me is a bit like the “Soldiers” at Auschwitz saying “Hey, I was just following orders.” We must hold ALL accountable who participated in the crimes.

  24. I feel no sympathy whatsoever for these folks. They remind me of the countless people who aided the nazis in rooting out the Jews all over Europe. I wish them all a nasty foreclosure just in time for Christmas.

    As to Stern, Tomar su casa me envio a la prision!

    Taking your house sent me to prison. Be gone you fool.

  25. He’s another Bernie Madoff, strip him of his ASSets and throw him in jail along with all the other top officails in his “company’s”.

  26. So, what he’s really implying to us is
    “Kiss My A–!

  27. I really struggle to feel sorry for these folks. On the one hand, they were happy to kick people out of homes, legal or not. Now on the other, Stern screws with them, as he has done with so many homeowners, and they are upset. In truth my heart goes out to them. Yet I cannot help be remember that they help Stern and are now suffering because the guy they helped turned on them. Ironic and very sad.

  28. Just wait til the Chinese investors in the Caymens come in for the kill..

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