B of A Parallel Foreclosure CONFESSION

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.

Thursday, May 26, 2011

California Residential Foreclosure Law "Dual Tracking" - Avvo.com



Parallel Foreclosure, let me introduce you to Dual Tracking. Dual Tracking, let me introduce you to Parallel Foreclosure. (See link above for more about this match made in hell).

Republican Politicians tend to vote en masse against outlawing dual tracking and Parallel Foreclosure banking practices, but the Democratic politicians tend to pander to promising the most voters the most things in exchange for their vote.

Gasp.


Tuesday, May 17, 2011

Jack Johnson pleads guilty to Federal Hobbs Act Violation, taking property under the color of right.


There should probably be dozen upon dozens of federal officials being charged with Federal Hobbs Act Violations, also known as federal officials using extortion to take property under the color of right.

I think HAMP was a Federal Hobbs act violation as well because it HAMP used taxpayer funds to lure taxpayers into behavior that actually accelerated the loss of their own homes and the reduction of their own credit rating and it too was done under the color of right as well.


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

Sunday, March 27, 2011

Friday, January 21, 2011

If you are in Parallel Foreclosure / HAMP Hell, Keith Olbermann helped put you there.

I was an accidental tourist of MSNBC in 2008 when I was injured and had to keep my foot elevated for 10 straight days in early February. Somewhere in the middle of those 10 days with an elevated foot, I went from being a Keith Olbermann / Barack Obama fan, to an angry democrat who could not believe how the media had mistreated Hillary Clinton.

If you have been harmed by HAMP IN ANY WAY, IT IS BECAUSE OF KEITH OLBERMANN AND MSNBC'S completely biased support for Barack Obama over Hillary Clinton. You would have gotten a fairer shake if Hillary Clinton had been elected president than what we have ended up with.

If you have tears for Keith Olbermann's firing, it should be because it was not done 3 years sooner, and your tears should be reserved for the foreclosed who lost way more under a Barack Obama presidency than they would have lost under a Hillary Clinton presidency.

Remember, Barack Obama has openly bragged about HAMP, defended parallel foreclosure, and even said that even if you had been accepted for HAMP, you were probably going to be foreclosed upon anyways.

Olbermann may have been fired from MSNBC, but it was several years too late to undo damage that should never have happened.

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

Wednesday, January 19, 2011

How the Government flip flops on Parallel Foreclosure and Dual Track Foreclosures while taxpayers wait to apply for HAMP.



As you can see from the above headlines, parts of the government, including Barack Obama and the White House inner circle, are for the ILLEGAL use of taxpayer funds to initiate parallel foreclosure (aka dual track) proceedings against homeowners who are WAITING to apply for HAMP.
Meanwhile, some other parts of government are for doing the legal thing.
JUST WAITING TO APPLY FOR HAMP homeowners suffer the indignity of a reduction in their credit rating, and the initiation of foreclosure proceedings on their homes.



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

Sunday, January 16, 2011

Washington Post Article, "Now we're supposed to believe that Investors are on the side of the HomeOwners"?


I have some empathy for REinvestors who invested in bank created securitization programs. But reinvestors are being called investors, and this has to stop. The Washington Post just perpetrated this falsehood in an article about alleged "investors" wanting to align with homeowners.

During 2007, I recall reading that stock market analysts were big on non hardware based businesses. It became tough being a hardware based company that actually made things that people would be able to use for several years because once the hardware was purchased, the chance to make after purchase related sales was not as likely as if a company was selling selling software.

So I find it insulting, misleading, deceitful, opportunistic, and possibly fraud, when I hear those who didn't invest in the brick and mortar construction of homes, as "investors". They are RE-INVESTORS and they should hold no sway over a home owner attempting to re-finance their home and banks should not be using these reinvestors as a reason to deny a re-fi.

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

Wednesday, January 12, 2011

The Term "Investors" is a Fraudulent term when used to describing investments in securitizations, Securitization Investors are REINVESTORS.

It just dawned on me that using the word "investor" to describe an after the fact investor is fraud.

The original investor in a home encompasses the entities that put the money up to BUILD the home. The investors that put money into securitization of the homes HAD NOTHING TO DO WITH THE BUILDING OF THE HOME. They are simply trying to find stable income for their pension funds and such, but they are not investors.

After the fact investors is a fraudulent term used to give banks an excuse as to why their hands are tied when it comes to re-financing a home. After the fact investors are REINVESTORS of an already existing product.

Securitization "investors" is a scandalous use of the word investor. There is only one group of investors when it comes to building a home. Once the home is built, banks and realtors find home buyers and the banks agree to pay the original investor and hold onto the mortgage until the homeowner pays the bank back.

Investors who are brought in via securitization are not investors, they are RE INVESTING in an existing commodity. Calling Re Investors, Investors, is heinous in my opinion because it stinks of what is wrong with wall street, people who don't make anything taking credit for those who DO make things.

Securitization REinvestors should not have rights that reduce the homeowners rights to refinance their home. Nor should a securitized home in any way have a change in terms that reduces the options of the homeowner in any way.

Monday, January 10, 2011

Pension Fund Managers asking Banks to change their dishonest ways in regards to Mortgage Practices such as Parallel Foreclosure.

This is really an amazing story from Bloomberg news about Pension fund managers wanting the banksters to be more truthful. Pension fund managers are asking Banks to change their ways and come up with a better plan regarding foreclosures!

I believe the Bloomberg article is ANOTHER example of Parallel Foreclosure practices that the pension fund managers are complaining about. The foreclosure complaints that used to be about robo signing are now EXPANDING to other area of banking practices, such as parallel foreclosure. Once again, the phrase "Parallel Foreclosure" is nowhere to be found.

Other than Barack Obama, there really aren't too many people supporting the banks these days.
"Hey banksters, in 2012 just remember who stayed in your corner even when everyone else abandoned ship, your buddy, always..."
-Barack Obama.

Saturday, January 8, 2011

Cleveland area Judge is a Victim of Parallel Foreclosure and doesn't even know it.


I feel badly for parallel foreclosure victims in the United States. I don't think it's a conspiracy to not use the phrase, "parallel foreclosure" when it is parallel foreclosure that is the process by which homeowners are unfairly losing their home to the banksters.

However, the lack of awareness that comes with not knowing about parallel foreclosure is really harming any chance of unification among the one million homeowners who have been victimized by parallel foreclosure.

So when Cuyahoga county Juvenile Judge Peter Sikora faces foreclosure on his lakefront home, if he only knew about Parallel Foreclosure he could raise awareness and solidarity across the country with all of those foreclosure victims who have experienced the exact same scenario.

If Judge Siroka knew about Parallel Foreclosure he could then make the statement, "I believe myself and a million other homeowners have been victimized by parallel foreclosure practices that fly in the face of ethical banking conduct."

Wednesday, January 5, 2011

The U.S. Government may be using HAMP to swindle homeowners out of their homes.


(This article first appeared on another of my blogs called My Third Party, but it also belongs here on Parallel Foreclosure dot com as well).

The above youtube commercial for HAMP may be an example of a violation of the Federal Hobbs Act, the extortion clause. The U.S. government has set up a TAXPAYER FUNDED program called Home Affordable Mortgage Protection (HAMP) that PENALIZES taxpayers before they can even become eligible to apply for HAMP.

Before a homeowner is eligible to apply for HAMP, they must first fall 2-4 mortgage payments behind. At this point, Parallel Foreclosure has already commenced in which foreclosure paperwork is BEING PREPARED even before the homeowner is eligible to apply for HAMP.

But it's worse than that.

Once the HAMP application is filled out, the HAMP applicants credit score is ambushed and lowered. BEFORE the HAMP applicant has even finished the initial set of trial payments, the banksters are processing foreclosure paperwork on the homeowner's home and the homeowners credit rating has been trashed as well.

But it's worse than that.

The reduced payments offered to the homeowner during the HAMP trial period suddenly become a mirage and revert back to the regular payment amount if HAMP is denied. The homeowner is also retroactively penalized and must pay the difference between the original mortgage amount and the HAMP amount for every month they were on the HAMP trial!

But it's worse than that.

The desire by the mortgage servicers to deny HAMP looms in the background because the mortgage servicers get to assess penalties and fees for ALL of the reduced HAMP trial payment months, and the servicers get paid first once the home is repossessed and resold.

But it's worse than that.

Fees are also assessed against the foreclosed upon homeowner related to the RE-SELLING of the foreclosed home!

But it's worse than that.

The homeowners faith in the HAMP program ultimately leads to having less options and less time available to figure out what to do if they are incapacitated by a HAMP denial. You see, the banks have been accused of losing paperwork, forcing homeowners to file and refile and refile the same paperwork, then having to start over if they don't fit the filing with a very specific time frame.

A sadist could not design a more criminal program, and the commercial above tops it all off.


So, who will stop this madness? The dumbocrats, who just want to keep their congressional seat and will just go along with the White House?

The Republicants? Well, not the republicants that never met a bankster they did not like and who are willing to trade social security for more military expenditures.

Ralph Nader? I think Ralph Nader is afraid.

That leaves third party political parties. Nope, the temptation to use HAMP to promote one's own party's values will be difficult to overcome.

A consortium of third party political parties, could they band together and make noise about HAMP???? (you tell me).

This probably leaves the 50 attorney's generals as the best choice to stop this nonsense and prosecute the offenders.

Can't third party political parties just "get along" and make a difference before main street is completely decimated?

Tuesday, January 4, 2011

HAMP applicants are Parallel Foreclosure Victims. Homeowners can fight back here and at Swarm The Banks.

It has taken me a few months of google research to first discover a pretty decent list of blogs, authors and news services that are reporting about mortgage servicing, foreclosure scandals, wall street, and politicians' responses, and then list them at Swarm the Banks.

If you have the time, make it a point to visit Swarm the Banks twice a day and look for articles that may be worth responding to. I am only one person, and even though I comment on several different different foreclosure articles everyday, I am still only one person. Plus, I don't get paid and at some point the time I spend on all my blogs may be reduced as I replace my time with work that actually pays.

It is the combination of several dozen bloggers relying on their own instincts who write articles that are raising awareness about the ills of HAMP, securitization, scandalous bankster bonuses, proposed legislation both good and bad, out of control debt, and unfair foreclosure stories that we all can support by commenting from time to time.

If you discover a really good article that you support, but has no responses to it, consider being the one to support the content by writing a comment.

If there were several dozen more people responding every day to articles they find through Swarm The Banks; making intelligent observations, sharing their own personal stories, sharing their favorite links about the foreclosure issue, or simply agreeing with someone else and actually putting it in writing, we could see more and more support begin to materialize for homeowners who were victimized by Parallel Foreclosure before they could even apply for HAMP, Robo signing, predatory loans, change in terms, and other issues as well.

Thanks!

Sunday, January 2, 2011

Legal Protections for America's Military: The Servicemembers' Civil Relief Act - Free Legal Information - Nolo


Legal Protections for America's Military: The Servicemembers' Civil Relief Act - Free Legal Information - Nolo

I am not in the military but I can't think of a more egregious act our banksters could do then foreclose or cause a military family to go into bankruptcy because of credit card debt while a family member is serving in the military.

Military personnel probably know they are protected in certain circumstances from foreclosure and they probably already know they can also get a credit card debt interest rate reduction to 6% if the debt occurred before going into the military.



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