B of A Parallel Foreclosure CONFESSION

Monday, December 6, 2010

Why Does the News Industry continue to ignore Television Reporter Sarah Buduson's ground breaking report about HAMP and Parallel Foreclosure?





Reporter Sarah Buduson explains Parallel Foreclosure, and she may have been the first reporter to do so in the fall of 2009.

(Edit Update: If you click on the video links provided in the story below to see the parallel foreclosure video news story by Sarah Buduson, there may be a few seconds of delay in which you simply see a blank rectangle screen.

This delay is apparently caused by the loading of a commercial that is played before the news story plays. After the commercial plays, nothing may happen, in which case you would need to hit the pause button to unpause the news story.)
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When I stumbled upon Television Reporter Sarah Buduson's story about Chase Bank and Parallel Foreclosure over a year ago, I just assumed that other reporters would pick up on the outrage of Parallel Foreclosure, and actually use the phrase Parallel Foreclosure when they did their own stories about...
...Parallel Foreclosure and its evil affects on homeowners struggling to refinance their home via taxpayer funded programs like HAMP or EHLP.

Amazingly enough, since Buduson's report aired on local television in the Phoenix area over a year ago, I doubt if even a handful of reporters have since used the phrase "Parallel Foreclosure" in any of their stories that are actually about, Parallel Foreclosure.
After I saw Reporter Buduson's report over a year ago, I felt personally outraged. But then I became concerned that the banks might purchase the web domain parallel foreclosure dot com and bury it, so I purchased the domain name and began doing stories about Parallel Foreclosure.

It's been difficult finding stories about Parallel Foreclosure that also actually use the phrase, Parallel Foreclosure, because our media seems to still not know the prhase, Parallel Foreclosure. The media keeps presenting stories about Parallel Foreclosure without ever calling it Parallel Foreclosure.
Banks can initiate Parallel Foreclosure when homeowners attempt to apply for a taxpayer funded program like HAMP or EHLP so they can reduce their monthly mortgage payment. The conundrum that presents itself is this, Banks service the most desperate homeowner mortgage modifications which usually involve homeowners who have missed or are behind on their mortgage payments. Unfortunately, getting to the front of the mortgage modification line by defaulting on one's payments can cause a parallel foreclosure action to be initiated by the bank. I believe Parallel Foreclosure may be a violation of the Federal Hobbs Act, the extortion clause.

To my surprise, News Reporters simply use phrases like dual track, simultaneous foreclosure, wrongly foreclosed, or unfairly foreclosed, instead of the phrase used by the bankers themselves, Parallel Foreclosure. None of the other pseudo Parallel Foreclosure phrases actually create a common bond among the possibly over a million homeowners who have already been victimized by Parallel Foreclosure, the way the phrase Parallel Foreclosure, does.
While I am not a fan of empowerment through victimization, in the case of Parallel Foreclosure, I AM in favor of empowerment through victimization when it involves taxpayer funds being used for programs like HAMP or EHLP to lure homeowners into the accelerated loss of their own homes; especially when parallel foreclosure actions commence against homeowners desperate for a home mortgage modification.
I now believe that hundreds of thousands, and perhaps millions of homeowners have already been victimized by HAMP and Parallel Foreclosure practices instituted by the banks. If reporters continue to ignore the phrase Parallel Foreclosure, it does not allow for a coalescing of all the Parallel Foreclosure victims out there in a manner in which they can more easily align together and fight back.

However, if I could successfully get Sarah Buduson's (also part of the media) story about Parallel Foreclosure into the mainstream media (how ironic is that!), I could possibly personally benefit as well as this site would explode in visibility.

So, what started out as a heartfelt conviction that HAMP and Parallel Foreclosure was and is wrong, has now become a blogsite at a crossroads where I will have to try and make Parallel Foreclosure more well known so that more homeowners will step up and fight back and maybe become part of a huge parallel foreclosure class action lawsuit. To accomplish this goal, I will need an advertising sponsor because as it now stands, I have already donated several hundred hours to this Parallel Foreclosure blog site and Swarm the Banks blog site as well.

Is there a law firm big enough out there to see the wisdom of publicizing the phrase Parallel Foreclosure for the purpose of assembling as many homeowners together as possible for a class action lawsuit? If, so, you should purchase the ONE advertising spot I am providing near the top of this blog.
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Since I saw the top of the democratic party topple Hillary Clinton in 2008, I've written over 1,500 blog articles on approximately a dozen different blogs covering the fraud at the top of the democratic party, the disgusting actions of Chase Bank, the home foreclosure crisis, and on a more fun note, analysis and reviews of commercials and television production as well.

Parallel Foreclosure dot com, my consulting blog, AlexLOGIC BLOG, and my newest venture, MyAlexLOGIC blog are the three blogs that I am using to generate income. In order of importance, MyAlexLOGIC blog (still a work in progress) will be my first priority because it will allow me to actually interact with people interested in learning from my over 25 years experience in film and video production and editing via one on one studio classes that I will soon be offering in my Los Angeles area studio.

However, should a law firm step up and buy the ad space at the top of Parallel Foreclosure, I would devote more time to getting the word out about HAMP and Parallel Foreclosure above and beyond what I am already doing.

In the meantime, the media could do more to publicize the term Parallel Foreclosure and how it has afflicted over a million homeowners who were lured into applying for HAMP, by calling certain "wrongfully foreclosed" articles by the correct phrase, Parallel Foreclosure.

If news reporters won't even tribute and credit when their own brothers and sisters in television reporting (Sarah Buduson) break a huge story, then we are all in trouble.

10 comments:

  1. I have been a victim of this parallel foreclosure!
    Proof..the modification denial came in the mail the same exact day of the foreclosure notice.
    they swore we were to ignore the notices since we were"under the umbrella of the modification" "just disregard the notices".
    that is parallel right there.

    ReplyDelete
    Replies
    1. I would agree with you. I hope you were able to get some remedy.

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  2. I have spent two years waiting for a loan modification through Bank of America. I average 8-9 hours four days a week being given the "run around" being disconnected, etc. I became two months behind on my mortgage payments (I lost my job and recently became permanently disabled). Through the entire ordeal they said, "we're escalating it."or "you'll be receiving the packet in two weeks." and "Don't worry, you're in a modification workout so it's ok if you're two months behind. I even applied for the Veterans Streamline Refinance Loan, which Bank of America said I qualified for. That fell through because I didn't know I had a $5,000.00 lien from a credit card. A few days ago after watching Parker-Spitzer on CNN they told how Bank of America lies and deceives homeowners. After doing a three-way call with the Consumer Credit Counseling Service, Bank of America told the rep that I NEVER qualified for anything because I AM A VETERAN. Then they had me do another (for the 10th time) budget analysis. They threatened to foreclose one minute, then tell me to make sure that I don't fall behind by ninety days. They will not tell me what the financial criteria to apply for a modification even if I could. I now have almost 100 pages of notes, thousands of hours talking to them on the phone as a try to save my home--ALL FOR NOTHING. When I called the next day to ask them why they waited for two years to tell the truth (just because a CCCS rep was involved) Bank of America won't give me an answer. A Bank of American rep even told me about HAMP and how she was applying for and that I should do so as well. I'm sure she was lying and was just trying to deceive me into this parallel foreclosure. I cannot get any help from anywhere. I am extremely frustrated and upset with BAC for TELLING ME LIES for the past two years. I live in New York state. I wish that the Attorney General, or anyone would put together a class action suit like they're doing in Arizona and Nevada. God bless you for having this site. If anyone else out there has experienced what I'm experiencing, please comment. Right now I am at a loss of what to do. I cannot afford a lawyer anymore. Thank you for reading my comment.

    ReplyDelete
    Replies
    1. Keep your home California is supposed to reduce mortgages by up to 100,000 dollars, but they apparently are only helping homeowners who are two months behind on their mortgage. How exasperating!

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  3. A new tactic to gnaw on while you are in foreclosure. The banks call centers are the walls that protect their castle. These call center walls are their greatest disinformation weapon and greatest weakness. When a call center person is vague, or out right deceptive. Name that call center person in a small claims suit for Bad Faith tactics. If you gather enough call center names. The banks will have to produce them as witness's in your trial. If Rajid from India or Su-dan form Taiwan or Latisha from New York will have to come to your local court for testimony. They'll need to be deposed at the banks expense, many of these call center people will be let go/terminated with severance pay as soon as a suit is filed. It is in your favor for this to happen. The turn over rate at the banks is outragous. They use this turn over rate against you. Now use it against them.

    A way to catch the call center person. Ask them a direct question? Who is the statutory agent of the bank?

    There are many other questions the call center script will forbid from answering your questions. Each time you catch them, name that person in your small claims suit. When they apply funds to fee's or late payments. That is the body of your suit. “In bad faith”

    ReplyDelete
    Replies
    1. I am not a lawyer but that sure sounds interesting.

      Delete
  4. Captain Dan Stillmunk sez: CHASE is the worst! I've spent 25 months trying to get my loan modified. I've even hired a loan mod attorney, but to no avail.

    Still CHASE says: "paperwork missing; out of date; filled out wrong" GIVE ME A BREAK!
    Those criminals at Chase need to be prosecuted for fraud and jailed!

    ReplyDelete
    Replies
    1. If you live in California and would like to attempt to get up to 100,000 dollars reduced from your mortgage, check out this link to see if you qualify. Keep Your Home California dot org

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  5. Does anybody know WHO has filed a federal class action lawsuit vs. Chase Bank? I read about one in the L.A. Times consumer page but e-mails requesting specifics were not returned.
    I'd love to sign up TODAY vs CHASE flakes.

    ReplyDelete
    Replies
    1. I did a google search for you, check out the link below and you will find quite a few. Federal class action lawsuit vs chase bank

      Delete

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