Chase Bank spits out a hairball class action lawsuit settlement regarding raising their customers monthly minimum payment by 150%.

Chase Bank spits out a hairball class action lawsuit settlement regarding raising their customers monthly minimum payment by 150%.

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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.

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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 a banker, acts like a banker, and talks like a banker. Barack Obama is a banker, and that is probably 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.

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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.

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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 that forces a homeowner to default on a home mortgage before the bank will either accept or review that homeowner's mortgage  modification application is a clear violation of constitutional law because the bank is using the default  to then "parallel foreclose" on that homeowner, yet the government has approved of this practice.

In essence, the homeowner is "waiving the right" to home ownership in exchange for 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. In essence, the government is using taxpayer funds to lure a taxpayer in distress into being parallel foreclosed upon while they are applying for a home mortgage modification. This is a "quid pro quo" and a violation of the constitution as defined above.

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 that is taxpayer funded!

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 are allowing banks to dangle those government funds, aka taxpayer funds, in exchange for the home modification applicant 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 as they "process" 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 since the home mortgage modification program funding is taxpayer driven.

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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.

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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.



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Breaking News! Wells Fargo Parallel Forecloses on homeowner after refusing their timely mortgage payments on an approved HARP, then resells their home!

The foreclosing on a HARP compliant homeowner should be against the law. Until that is the case, it is up to anyone reading this article to sign the petition at Change dot org protesting Wells Fargo's anti homeowner actions.


You can learn more at HSI Trust.

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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.

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