B of A Parallel Foreclosure CONFESSION

Thursday, October 28, 2010

Foreclosure loan modifications: Miramar man gets home back after nearly losing it to (Parallel) foreclosure - South Florida Sun-Sentinel.com


I created parallel foreclosure dot com about a year ago specifically to highlight the injustice of what the banks (and as it turns out, with our own governments blessing) were doing to people who were applying for HAMP.

Unfortunately, the South Florida Sun-Sentinel did not use the phrase "parallel foreclosure" in their article even though that is what the fight to save the homeowners home was over so I have "inserted" the word "parallel" in parenthesis and in front of foreclosure. I find it frustrating that parallel foreclosure dot com has been around for around a year now and so few journalists actually even know about parallel foreclosure.

The Sun-Sentinel wrote...""We are so thankful," said Shamji, whose case was the focus of a Sun Sentinel article on Sunday about homeowners who thought they had saved their homes by modifying their mortgages only to lose them because the foreclosure process never stopped. (end quote from article)

This is called PARALLEL FORECLOSURE and it is UNETHICAL because the homeowner IS FORCED TO GET BEHIND ON THEIR MORTGAGE PAYMENTS just to be eligible to APPLY for HAMP, at which point Parallel Foreclosure KICKS IN!
And if you read the article please take note that it was Bank of America that could not stop a foreclosure division within its own company from going through with the foreclosure even though they knew the foreclosure was to be stopped!

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