B of A Parallel Foreclosure CONFESSION

Tuesday, January 21, 2014

Chase Bank sued by veteran over Dual Tracking, Parallel Foreclosure action.

Sadly, Parallel Foreclosure, (also known as Dual Tracking), LIVES. I wish Tom McDivitt, a 10 year army veteran, well in his lawsuit against Chase Bank over parallel foreclosure, dual tracking tactics.

You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Tuesday, December 31, 2013

Bank of America continuing Parallel Foreclosure practices, check out this Change dot org Petition.

This story is just disgusting. Person takes over payments from deceased mom and Bank of America won't accept payment, instead they wait until the home is in foreclosure than B of A negotiates a 3X increase in the payments.

Why is this going on? These are the actions of financial terrorists  right in our own banks.

You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Friday, September 13, 2013

OneWest Bank pays 7 figures in mortgage fraud case

The term is PARALLEL FORECLOSURE, not Dual Tracking. Dual Tracking CONFUSES PEOPLE and OBFUSCATES what is going on. Parallel Foreclosure is the behind the scene term used by Chase Bank and other banks to describe deceitful, and perhaps criminal behavior regarding mortgages.


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Friday, March 29, 2013

A Code of Conduct for the Debt Collection Industry, are you kidding me!


Clicking on the above link will take you to my Debt Neutrality Blog, where this story was first broken. I always credit my sources so the link above also contains the link to where I learned about the Debt Collector's Code of Conduct declaration.

Wednesday, October 10, 2012

The Walls are closing in on Dubious Banking Practices as the Consumer Protection Financial Bureau Roars to Life.

The Consumer Financial Protection Bureau has come to life bringing hundreds of millions of dollars in credit protector fines against all the major banks.

The banks have responded by stopping their Credit Protector programs.  However, this is actually the wrong move since it leaves consumers with no default protection insurance. 

Default Insurance that should only cost 2 to 4 cents per 100 dollars of coverage per month, not the 99 cents per 100 dollars per month that the Credit Card Companies were charging.

While I am never be acknowledged or thanked by the powers that be, I did start Credit-Protector.com back in October of 2007 that warned about how dreadful Credit Protector "Insurance" actually was.  Almost five years later and my warnings have come to fruition.

However, now there is a much bigger fish to fry. All the consumer credit card defaults from the past 15 years need to unwound since those consumers did not have access to a fair debt suspension insurance program that was actually reasonably priced.

You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Tuesday, July 17, 2012

Barack Obama wants to steal 100,000 San Bernardino homes.

(Update, June 15, 2013, 6pm, as bad as Barack Obama has been when it comes to the entire mortgage unfair foreclosure issue, he has probably done significantly better than anything the republicans would have done. In my opinion neither would have come close to what Hillary Clinton would have accomplished is she had been the democrat nominee in 2008 and then president.)

Sad but true, Barack Obama's core backer, George Soros, has a plan to steal 100,000 homes in the San Bernardino county. 

I've been stating for a while that Barack Obama looks like banker, acts like a banker, and talks like a banker. Barack Obama is a banker, and that is a bad thing if you are on main street and own anything of value.

It's now been 18 months that I wrote a plan for fixing the economy on my wall street change blog. There is 3 trillion dollars in consumer debt that is being charged too high of an interest rate. There is NOT ONE true incentive program for paying down that consumer debt, and Obama won't budge by offering one either.

Instead, Obama's solution is to use eminent domain to steal 100,000 homes in danger of foreclosure, than have the likes of Soros come in and make a handsome profit taking them over for pennies on the dollar.  

And lets not forget, those who are foreclosed upon may have debt collectors on their backs for the next decade or two.

You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Monday, July 2, 2012

Dual Tracking and Double Tracking IS Parallel Foreclosure.

Parallel Foreclosure is the correct term for Dual Tracking and Double Tracking. It's a shame that Kamala Harris chose to use the phrase Dual Tracking in her legislation because googling that phrase reveals all kinds of activities that are in no way related to home foreclosures.

Amazingly enough, Parallel Foreclosure actually sounds like what it is, the act of a bank foreclosing on a home even as a homeowner and a bank are negotiating new terms on a home mortgage. Parallel Foreclosure would be much easier for americans to remember than dual tracking, especially when struggling home owners are doing google searches to learn more about the evils of Parallel Foreclosure.

You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Thursday, April 19, 2012

How Barack Obama has violated the constitution in regards to Parallel Foreclosure and why he should be impeached and removed from office.

Using a hunch of mine, and then researching that hunch in Black's Law Dictionary, 4th edition, by Bryan A. Garner, editor in chief, I found two passages about the Unconstitutional-Conditions doctrine and how it may be applied to Parallel Foreclosure...
Constitutional Law (as to how it may apply to Parallel Foreclosure). 
1. The rule that the government cannot condition a person's receipt of a government benefit on the waiver of a constitutionally protected right (esp, a right under the First Amendment)......   
My interpretation of rule 1 is a bank forcing a homeowner to default on a home mortgage before the bank will either accept or review that homeowner's mortgage  modification application. This is a clear violation of constitutional law because the bank is using the default  to then "parallel foreclose" on that homeowner and the government has approved of this practice.


In essence, the homeowner is "waiving the right" to home ownership in exchange receiving the government benefit of applying for a home mortgage modification with no guarantee they can keep their home or get a lower mortgage rate.
2. The rule that the government cannot force a defendant to choose between two constitutionally protected rights.
My interpretation of rule number 2 is, Parallel Foreclosure violates a homeowners constitutional right to receive a government benefit by allowing banks to prioritize the benefit only after the homeowner has fallen behind on their mortgage, putting the homeowner at risk  of being parallel foreclosed upon by a bank because it BECOMES THE BANK'S CHOICE whether the homeowner loses their home or not!
The homeowner has been forced to give up control over home ownership in exchange for a government sanctioned home mortgage modification.
While the Barack Obama administration may not have officially endorsed Parallel Foreclosure (although they have defended Parallel Foreclosure as being legal in front of Congress!), they know parallel foreclosure is going on and have actually sanctioned it as being legal, and allow banks to dangle those government funds in exchange for being parallel foreclosed upon.


When the Obama administration does not repudiate parallel foreclosure and instead continues to create government backed home mortgage modification programs that allow for parallel foreclosure actions by the banks that are also receiving funds from the government for home mortgage modification programs, the Obama administration is complicit in the over one million homeowners victimized by parallel foreclosure.


What is Parallel Foreclosure? 
Parallel Foreclosure is a bank approved methodology in which banks only grant government sponsored mortgage modification funds to homeowners who are first required to default on their home mortgage monthly payment before their mortgage modification application is reviewed.


Thus, once the homeowner has defaulted per the bank's preference (otherwise the bank will either ignore the home modification request or make the homeowner wait a long period of time before  dealing with their request), the bank believes they can begin parallel foreclosure actions while continuing to deceive the homeowner while "processing" a home modification application they may have no intention of honoring. 


In essence, the bank has taken ownership away from the homeowner and instead will do what they think is best for the bank, not the homeowner, a clear violation of both constitutional points made at the top of this article.

You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Monday, February 27, 2012

Sixty Minutes explains Credit Default Swaps, a leading cause of parallel foreclosures.

Parallel Foreclosures are probably caused by credit default swaps in which wall street makes money when homeowners are foreclosed upon. The 60 minutes credit default swaps video came out just before the 2008 presidential election. 


Barack Obama responded by hiring several wall street insiders to key financial positions within his own administration.


Credit Default Swaps are a big reason why banks have not been motivated to work with distressed homeowners. The U.S. government should be backing home mortgages, not wall street.

You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Thursday, January 26, 2012

Was it all a Dream? Apparently no homeowners were forced to default before they could apply for HAMP. If you disagree, please TELL THIS BLOG YOUR STORY in the comments section of this article. Thank you.

A very big government scandal appears to be brewing. Apparently no one who has applied for HAMP was forced to default on their mortgage payments before they could even be eligible to APPLY for HAMP! 


If you are a homeowner and the above statement is not true based on your own experience, please explain what happened to you in the comments section of this article.



You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Thursday, January 12, 2012

Parallel Foreclosure breaks Returning Army Veterans being foreclosed upon 3 weeks before the national media.

I post to a dozen different watchdog blogs, my blogs. Nobody pays me. There is no advertising revenue. So when I report on this blog on January 2nd, 2011 that military personnel should be protected against banking foreclosure shenanigans while on duty and that they are guaranteed 6% maximum on their credit card interest rates, and the New York Times and NBC run stories THREE WEEKS LATER about military personnel who return from war to have lost their homes to an illegal foreclosure, I do wonder if my blogs were reviewed, but credit denied.


Anyways, I'm happy this story about military vet foreclosure ran nationally, but how about some credit for a forgotten blogger (me) that posted a pre-emptive article three weeks earlier? It's the ethical thing to do, no?


Here is the three minute video that was also created about the above story regarding War Vet James Hurley. Again, several weeks after my articl first ran.

You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Wednesday, October 19, 2011

Why Parallel Foreclosures Exist.

Sometimes when researching foreclosures, banks, and their strange behavior, we can get caught in the trap of of going AHA!, banks stink because they do X, Y and Z against their customers.


What if we could further condense the AHA's into one bold, streamlined sentence? Would simplifying and condensing the message make it easier to fight back against the banks? I think so.


The reason parallel foreclosures exist is because banks first require a default before they will restructure a debt. Since a default is required before any change can occur to an existing financial agreement, the banks may actually believe they are doing us a favor when they perform a parallel foreclosure on your home.


Gasp.


You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

Friday, June 24, 2011

At Chase Bank, Top Ranks such as David Lowman get a Big Shake-up, reports the New York Times.


I recall a protestor calling David Lowman a liar at the Nov. 16, 2010 congressional hearings last year. The protestor was then led out in handcuffs from the hearing, now David Lowman has been replaced, reports the New York Times.


However, these executives appear to be getting cushy new jobs within Chase Bank, just with less responsibility and visibility.



You are viewing Parallel Foreclosure blog. Please check out UNfair Foreclosures blog and Swarm The Banks blog as well.

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