Parallel Foreclosure

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.

2012-01-26T18:42:00.000-08:00

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.

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

2012-01-15T22:24:00.000-08:00

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.

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

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

2012-01-12T05:47:00.000-08:00

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.

Why Parallel Foreclosures Exist.

2011-10-19T20:34:00.000-07:00

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.

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

2011-06-24T01:08:00.001-07:00

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.

Adam Levitin spoke just before Mr. Lowman and Diane Thompson spoke just after Mr. Lowman.

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

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

2011-05-26T12:00:00.000-07:00

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.

Please Download the Chase Bank Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.

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

2011-05-17T20:05:00.001-07:00

CLICK HERE TO GO TO HEADLINE ARTICLE ABOVE.

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.

Consumer Financial Protection Agency and Elizabeth Warren under Attack from the Wall Street Journal.

2011-03-27T20:19:00.000-07:00

Credit Slips' Adam Levitan has written an explosive piece about the Wall Street Journal's attempt to undermine Elizabeth Warren and the Consumer Financial Protection Agency.

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

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

2011-01-21T20:05:00.001-08:00

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.

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

2011-01-19T15:41:00.001-08:00

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.

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

2011-01-16T02:35:00.000-08:00

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.

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

2011-01-12T20:11:00.001-08:00

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.

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

2011-01-10T00:08:00.000-08:00

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.

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

2011-01-08T00:32:00.001-08:00

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."

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

2011-01-05T03:20:00.000-08:00

(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.

Even judges who are being foreclosed upon don't know what parallel foreclosure is!

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?

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

2011-01-04T14:54:00.001-08:00

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!

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

2011-01-02T16:07:00.000-08:00

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.

You can learn more at Military dot com benefits legal SCRA overview.

High Interest Rate Consumer Credit Card Debt has helped destroy the economy and peoples chances for keeping their homes.

2010-12-30T14:31:00.000-08:00

Programs like HAMP that cause parallel foreclosure to occur would be less sought after if the banksters offered low interest rate credit card pay down debt incentive programs.

The hidden fraud within the U.S. economy is the percentage of consumer credit card debt versus consumer asset destruction that has occurred over the past several years. Just a few years ago, there were millions upon millions of credit card debtors who also had a lot of built up home equity in their homes.

If U.S. consumers recently lost 30-50% of their personal wealth, while consumer credit card debt has remained steady at just under 1 trillion, you can see that the ratio of credit card debt to personal wealth HAS GONE UP BY a significant amount in just the past few years, even though consumers have not increased their credit card debts!

So lets add it all up, employment is harder to come by, jobs pay less, less value in home, loss of value in 401K's, and higher credit card debt at predatory interest rates that cannot be easily paid down. Credit Card Debt is becoming a perpetual anchor dragging down those who are just trying to tread water.

How can HAMP work if people can't pay down their credit card debt when consumer credit card debt is now TWICE AS BIG a ratio of debt to personal wealth? How about a new kind of debt reduction credit card to help consumers pay down their credit card debt.

Introducing the AlexLOGIC consumer credit paydown card! A 2.9% interest rate on existing credit card debt. 2.5% monthly minimum payment, 40% of what you pay down each month can be used for new purchases. Your AlexLOGIC card naturally reduces its credit line each month while also crediting you back 40% of the principle that you paid off to respend if necessary.

However, the consumer cannot be running up more bills on other credit cards, that is the key, so a consumer would have to convert all of their credit card debt to an AlexLOGIC credit card and than not have any other cards.

What I just described above does not exist. But if it did exist, and millions started paying down their debt in the manner described above, I believe the economy would start to stabilize.

The Subprime Shakeout: MBIA Sampling Order Signals Shorter Path to RMBS Putbacks - A small percentage of cases will represent all the cases.

2010-12-29T17:55:00.000-08:00

The Subprime Shakeout: MBIA Sampling Order Signals Shorter Path to RMBS Putbacks

Interesting article above to learn a bit about securitization.

I am of the position that once there is a change in terms to the original mortgage note, the homeowner has to approve. So when these mortgage notes kept changing hands because of securitization, they were violating the homeowners rights by changing terms.

This seems like a big deal. Might it be possible for the almost one million parallel foreclosure victims to file a nationwide class action lawsuit and by using a reasonable percentage of cases, those cases could be used to represent everybody?

I am totally guessing here, but if a percentage of damages can be assessed, then all homeowners could get varying awards based on the percentage of damage. Actually, this may not work because some homeowners put down larger down payments, and other homeowners had significant equity.

Homeowners would have to be lumped into various groups, minus equity, zero equity, plus equity, plus how much of a down payment they made, before a percentage of damage could be calculated.

From Felix Salmon, "Vindictive Servicer of the Day" goes to ING Direct.

2010-12-29T11:12:00.000-08:00

Kudos to Felix Salmon for reminding americans what they are up against.

It seems to me that we will need to "bank together" because Wall Street and their international friends seem to care more about taking our property away from us then working with us.

Courthouse News Service - Class Action Lawsuit against Bank of America smells of Parallel Foreclosure.

2010-12-28T01:54:00.000-08:00

Courthouse News Service - Class Action Lawsuit against Bank of America Smells of Parallel Foreclosure.

Very interesting read at Courthouse News Service about the latest class action lawsuit against Bank of America and their handling of HAMP.

Is Bank of America afraid of the phrase "Parallel Foreclosure" landing in the public eye?

2010-12-24T00:08:00.000-08:00

A short while back I wrote an article about how this blog, Parallel Foreclosure, came to be. In that article I mentioned that I was concerned that the banks might want to buy the domain name parallel foreclosure dot com and bury it. So I bought the domain name parallel foreclosure to make sure the banks did not.

I'll have to believe it was just coincidence, but just a few short weeks after I wrote that article and Bank of America is in the news because they are BUYING UP DOMAIN NAMES left and right. Bank of American is concerned that wikileaks and founder Julian Assange may release internal Bank of America documents that will make both Bank of America and BOA president Patrick Moynihan look bad.

So my instincts about buying the domain name parallel foreclosure (and a few variations) was right on. I will be real surprised if besides Bank of America, that Chase Bank comes out of the alleged impending bank leaks unscathed, I guess we'll find out in a few short weeks.

Amazingly, even though Phoenix, Arizona reporter Sarah Buduson exposed parallel foreclosure over a year ago, NOBODY from the media is calling the practice of parallel foreclosure, parallel foreclosure.

Buduson's broadcast report exposed Chase Bank's foreclosing on a homeowner who had already successfully completed a home loan modification. Buduson may have been the first to correctly coin the phrase "Parallel Foreclosure" in that report.

I've literally been put into the position where to effectively continue my lobbying efforts on behalf of possibly a MILLION homeowners who were victims of parallel foreclosure, I would not only need to find a generous advertiser, but one that would actually assist these one million homeowners in a parallel foreclosure class action lawsuit.

Anything less than a parallel foreclosure class action lawsuit would be a fail in my book.

This of course may lead to me being accused of just trying to make money. It's kind of amazing how the work I have already done on this blog in the past year, all for free, has not resulted in even ONE network news reporter using the phrase parallel foreclosure since Sarah Buduson first used the phrase Parallel Foreclosure in the fall of 2009.

Both Bank of America and Chase Bank have admitted to practicing parallel foreclosure, and it appears that the attorneys generals and some judges are now frowning on the practice of parallel foreclosure, even though nobody from the broadcast media using the phrase, parallel foreclosure. Gasp.

It is my assertion that if a too big to fail law firm started a parallel foreclosure class action lawsuit, and sent me daily news updates, we could begin to reach untold thousands of victims and give them hope that they might get some retribution for what they were put through by the banks.

I further believe that any homeowner who becomes part of a parallel foreclosure class action lawsuit and wins, SHOULD NOT sign away their rights to sue the banks on other grounds as well.

It is my opinion that a homeowner can be a victim of parallel foreclosure, while also being a victim of a predatory loan. Ironically, a predatory loan and or a subprime loan may have increased the chance of a parallel foreclosure and may have actually HASTENED parallel foreclosure into occurring!

Therefore it is my opinion that if a homeowner were to sign up for a parallel foreclosure class action lawsuit, they could still sue (if applicable) for being a victim of a predatory loan, robo signing, and a change in terms to their mortgage note without the homeowners expressed, written consent.

I am concerned that the attorneys generals from all 50 states may try to expedite a solution that disqualifies homeowners from being part of multiple foreclosure class action lawsuits.

In general I am actually not a fan of enrichment through litigation. But in the case of homeowners being ripped from their homes because of greedy banking practices that not only hurt american homeowners, but have also appeared to dictate political races as well, than I am for class action lawsuits to help stop these practices in the future.

Another Family Victimized by Parallel Foreclosure after making all of their Home Mod payments for a YEAR!

2010-12-20T18:25:00.000-08:00

HO HO HO, Bank of America says Merry ExitMas. Family pays their home modifications payments for a year, on time, then is told they will be foreclosed upon on Dec. 26, 2010.

How's that "No foreclosures during the Christmas season" working out for you, banksters?

This is ANOTHER example of Parallel Foreclosure. Even as Mike and Mary Boehm, and family made all of their home loan mod payments on time, they were being foreclosed upon by Bank of America anyways, that is called Parallel Foreclosure, and its also Bait and Switch in my opinion.

Hat tip to Swarm the Banks and Foreclosure Blues for curating and scraping this story so parallel foreclosure could more easily find it and bring it to you.

Barack Obama's healthcare plan questioned by judges for forcing people to buy a product. Is HAMP next, which lures people into parallel foreclosure?

2010-12-17T21:22:00.001-08:00

Barack Obama seems to support government programs that either force americans to buy something, such as health insurance, or that lures americans into bait and switch tactics, such as parallel foreclosure, resulting in the accelerated loss of their home. Judges have already begun frowning on forcing people to buy health care insurance, and judges have also begun frowning on parallel foreclosure tactics as well.

For being recognized as a smart guy, how can Barack Obama support these two government programs so wholeheartedly when the judicial system is finding both of them legally flawed?

How can a smart man such as Barack Obama continue to support programs that force or lure people into situations that are nothing more than bait and switch? When does a parallel foreclosure class action lawsuit commence?

When do reporters actually start to use the phrase "parallel foreclosure" to describe the victimization that has already happened to close to a million U.S. homeowners who simply wanted mortgage relief through a government sponsored and taxpayer funded program such as HAMP?

Why was HAMP promoted over HARP? I'll cover that question in my next parallel foreclosure article.

Edit update: Neither HARP nor HAMP is really a cure all. The more research I do, the more I think the entire process should have been streamlined. 4% fixed mortgage across the board for anyone who wants it. Offer credit card incentive programs for anybody who can pay down their total credit card debt every month.

Actually design the credit card terms to be the following, 2.9% interest on outstanding debt, every month 2.5% of the minimum is paid, 50% of the paid amount is allowed to be "respent". Repeat month after month. The result is the overall credit card debt reduces by approximately 1.2% every month AND the consumer gets to respend a portion of what they just paid.

The bank gets cash flow, the customer is able to buy small items while still paying DOWN their overall credit card debt. In combination with the 4% mortgage rate, the homeowner has the best chance to pay down their debts while in turn spending some money locally to help state income tax coffers and local businesses as well.

Shocking Graph from December 2007 shows Refinancing Predatory Subprime Loans LAST on list for California Banks and Mortgage Servicers,

2010-12-15T20:51:00.000-08:00

CLICK ON IMAGE TO ENLARGE.

Graph Above indicates Borrower outcomes: % of Counselors Reporting Frequency of Various Loss Mitigation Outcomes: California, December, 2007.

PLEASE NOTE THE TALL BLUE BAR GRAPH ARE THE 72% WHO WERE FORECLOSED UPON, THE TALL YELLOW BAR GRAPH ON THE OPPOSITE SIDE ARE THE 81% WHO DID NOT GET A REFI.

You can read the above testimony by Kevin Stein, Associate Director California Reinvestment Coalition, as heard on the floor of the House of Representatives sub committee on housing and community opportunity, by clicking here.

The graph above shows a shocking inability to refi a borrowers subprime loan. If a mortgage loan is so bad that it cannot be refi'd, and is therefore much more likely to be foreclosed upon, someone has done something of questionable perpitude.

Since it was known THREE YEARS AGO that subprime loans were for the most part not going to be re-financed, the rush and desire for parallel foreclosure on homeowners looking for a mortgage break can be explained, but the predetermined desire for parallel foreclosure cannot be justified!

ROBO SIGNING is just the tip of the Foreclosure Fraud Nightmare.

2010-12-12T14:35:00.000-08:00

I believe that Foreclosure Fraud related to Robo Signing is just the tip of the Foreclosure Fraud iceberg.

The foreclosure fraud issue is much much bigger than robo signing. Robo signing is the get away car speeding down the highway with the loot. However, we need to back up in time and find what occurred before the get away car was discovered.

Actual foreclosure fraud robbery happened the moment there were CHANGES IN TERMS implemented on ANY HOMEOWNER's Mortgage agreement without the homeowners expressed, written, consent.

Change in Terms without the expressed, written, consent of the homeowner CANNOT be pre-written into a mortgage agreement for OBVIOUS REASONS.

If a mortgage contract can be unilaterally changed by one side only, then the changing side can pretty much do whatever they wanted, at any time!

Unilateral changing of terms would mean the end of property rights as we know it!

An additional robbery happened when the CHANGE IN TERMS that were never agreed to by the homeowner are then used to allow others to hold sway over a homeowners freedom to find a better mortgage deal.

When we hear that the "investor" does not approve HAMP for a homeowner, this could mean that a unilateral Change in Terms has been used to allow an after the fact entity (the investor) to determine the fate of a homeowners right to find the best deal for their mortgage.

Further foreclosure robberies occurred when banks parallel foreclosed on homeowners BEFORE the homeowner could even become eligible to apply for HAMP and EHLP!

As a result of the actions describe above, Parallel Foreclosure might just equal Federal Hobbs Act Violations, possibly the extortion clause. And if the foreclosure fraud talking points I brought up above are never brought out into the light of day, then either the system is rigged down to the fine grains of sand, or, the system just naturally creates conflagrations to confound the real issues at hand.

The people that discovered robo signing may have set the bar too low. Robo signing may have been the battering ram that broke down the foreclosure fraud door, but there is much much more behind the foreclosure fraud door. I am concerned that robo signing may end up both breaking the door down to foreclosur fraud while also obfuscating what is actually behind the foreclosure fraud door.

Local family and organization fighting mainland bank - Hawaii News Now - KGMB and KHNL Home - Looks like another example of Parallel Foreclosure.

2010-12-11T02:56:00.000-08:00

Local family and organization fighting mainland bank - Hawaii News Now - KGMB and KHNL Home

The Hawaiian family fighting foreclosure looks like another example of parallel foreclosure in action. Foreclosure is not an Option, by David Bornstein, chronicles ESOP's successes in Cleveland Ohio with dealing directly with the banks.

The Hawaiian family is right in being concerned that "mainland banks" are not helping them. It was only after ESOP threw plastic sharks on the lawns of bank presidents that they got the bank's attention. And ESOP also tries to qualify their own home owners to help ensure they will be able to make their payments once they get a home loan modification.

None the less, initiating foreclosure actions BEFORE a homeowner can even apply for HAMP, is parallel foreclosure, and that seems ethically challenged, morally repugnant, and hopefully, reimbursible in a court of law.

Please Download the Chase Bank Protest Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.

Mortgage 'Modification' Called RICO Fraud - Courthouse News Service - Another example of Parallel Foreclosure not being called Parallel Foreclosure.

2010-12-10T02:23:00.000-08:00

Mortgage 'Modification' Called RICO Fraud - Courthouse News Service - Another example of Parallel Foreclosure not being called Parallel Foreclosure.

The above could be an example of Parallel Foreclosure as well as a violation of the Federal Hobbs Act if a government official is found supporting these types of actions, such as when Barack Obama or his housing people say HAMP is working great.

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

2010-12-06T06:22:00.000-08:00

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.)

---------------------------------

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 initiate Parallel Foreclosure when homeowners simply attempt to apply for taxpayer funded programs like HAMP or EHLP so they can reduce their monthly mortgage payment. Only after the homeowner has unwittingly set in motion Parallel Foreclosure paperwork against themselves can the homeowner even apply for HAMP or EHLP. 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 becomes a pre-requisite before a homeowner can even apply for a taxpayer funded program like HAMP or EHLP!

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.

-----------------------------

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.

PARALLEL FORECLOSURE class action lawsuit filed, unfortunately the phrase "Parallel Foreclosure" appears to not have been used in this HAMP lawsuit.

2010-12-02T03:02:00.001-08:00

A Class Action lawsuit has been filed that basically asserts the practice of Parallel Foreclosure is wrong. Ironically, the class action lawsuit is not using the term "Parallel Foreclosure" even though Chase Banks and Bank of America have admitted to Parallel Foreclosure practices.

Homeowners who are trying to apply for a HAMP are subjected to parallel foreclosure BEFORE they can even apply for HAMP. It appears that many many many homeowners are falsely told they are completing HAMP successfully when suddenly their home is foreclosed upon, that is one definition of parallel foreclosure.

Read about the possible "Parallel Foreclosure" class action lawsuit here.

Go directly to law firm handling the Parallel Foreclosure class action lawsuit that is not being called "Parallel Foreclosure".

The importance of rallying around the term "Parallel Foreclosure" stems from the need to be able to mass identify homeowners, who now may number around one million, who were victimized by the practice of parallel foreclosure.

Additionally, there are other foreclosure misdeeds, including robo signing, predatory loan making, securitization fraud, change in terms fraud, Mers Fraud, that need to stay separate from Parallel Foreclosure lawsuits.

Yes, homeowners could have been defrauded in more than one way! So using a term like "foreclosure lawsuit" may be too vague if the actual action that is being contested is "Parallel Foreclosure".

Dylan Ratigan and Marcy Kaptur hit a home run in regards to fraudclosure issues on MSNBC's Dylan Ratigan show.

2010-11-29T02:40:00.000-08:00

Dylan Ratigan and Marcy Kapture do a bang up job discussing foreclosure fraud, or as Dylan calls it, fraudclosure and securitization.

The very first sentence of the video clip... "It used to be that if you bought a house your mortgage would stay at a single bank while you paid it off..."

...completely jives with the point I made in a Swarm the Banks article that I wrote around the same time as this video was made.

I never saw the MSNBC video until just now, so it pleases me that my article two days ago about how mortgages used to be handled is spot on with what is depicted in the video that I just saw for the first time.

Three Important and Historic 2010 Home Foreclosure and Mortgage Servicing Congressional Hearing Videos and Running Transcript, CSPAN Links are here.

2010-11-26T23:09:00.000-08:00

Not too many americans have so far visited these three very important CSPAN video and transcript archives about the fall 2010 congressional mortgage servicing and home foreclosure issues. So now it is easier to find all three, courtesy of Swarm the Banks and Parallel Foreclosure.

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CLICK HERE to go to NOV. 18, 2010 CSPAN3 ARCHIVE VIDEO of the HOUSE MEETING on MORTGAGE SERVICES and FORECLOSURE ISSUES.

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UPDATE: CLICK HERE to go to CSPAN ARCHIVE VIDEO and RUNNING TRANSCRIPT of the NOV. 16, 2010 SENATE MEETING on MORTGAGE SERVICES & FORECLOSURE PRACTICES HEARING.

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CLICK HERE to SEE the OCT. 27, 2010 CONGRESSIONAL OVERSIGHT HEARING, TROUBLE ASSET AND RELIEF PROGRAM, OVERSIGHT COMMITTEE HEARING on MORTGAGE SERVICING, HOME FORECLOSURES, and HAMP.

Did PHYLLIS CALDWELL POSSIBLY give FALSE TESTIMONY about HAMP? Has the HAMP PROGRAM and the LURING of HOMEOWNERS to HAMP that APPEARS to REQUIRE PARALLEL FORECLOSURE before a HOMEOWNER can even APPLY for HAMP a VIOLATION of the HOBBS ACT, the EXTORTION CLAUSE?

Here is an example of a Parallel Foreclosure or no deal, and it may also be a violation of the Federal Hobbs Act, the extortion clause.

2010-11-19T21:54:00.000-08:00

Click here to read about the case of a homeowner who cannot get a HAFA approved because they are not late on their mortgage payments! Yet if the homeowner becomes late on their mortgage payment, parallel foreclosure kicks in. Therefore, in this instance parallel foreclosure is a prerequisite to the homeowner being accepted for HAFA.

If I am correct above, then that could be a Federal Hobbs act violation, the extortion clause. Luring homeowners into taxpayer funded government programs that require parallel foreclosure to occur before or during the loan process is a form of racketeering because it puts the homeowner closer to losing their home simply for trying to save their home through a taxpayer funded loan program.

WATCH CSPAN3 NOV. 18, 2010 HOUSE MEETING on MORTGAGE SERVICES and FORECLOSURE ISSUES.

2010-11-18T13:17:00.000-08:00

WATCH CSPAN3 NOV. 18, 2010 HOUSE MEETING on MORTGAGE SERVICES and FORECLOSURE ISSUES.

(Edit Update - Nov. 27, 2010 11:05PM)

You can find congressional video and transcription links to all three congressional hearings on home foreclosures and mortgage service investigations by clicking here.

CSPAN3's coverage of the Nov. 16, 2010 Banking, Housing and Urban Affairs Mortgage Service & Foreclosure Practices Hearing.

2010-11-18T13:16:00.000-08:00

CSPAN3's coverage of the Nov. 16, 2010 Banking, Housing and Urban Affairs Mortgage Service & Foreclosure Practices Hearing.

(Edit Update - Nov. 27, 2010 11:07PM)

You can find congressional video and transcription links to all three congressional hearings on home foreclosures and mortgage service investigations by clicking here.

Protesting Homeowner Handcuffed and Arrested at Banking, Housing and Urban Affairs committee hearing on Mortgage Services and Foreclosure Practices.

2010-11-17T00:44:00.000-08:00

Excellent article by the AP with some really dramatic photos as well regarding the Banking, Housing, and Urban Affairs Nov. 16, 2010 committee hearing on Mortgage Services and Foreclosure Practices.

Check out my article about the above event as well and you also get a link to see the video of the hearing as well.

(Edit Update - Nov. 27, 2010 11:10PM)

You can find congressional video and transcription links to all three congressional hearings on home foreclosures and mortgage service investigations by clicking here.

Barack Obama's Team in Full Retreat on HAMP at a Las Vegas Foreclosure Summit, says why bother getting HAMP, you'd just default anyways!

2010-11-14T07:14:00.000-08:00

According to the Las Vegas Review-Journal, Vicki Henry of HUD appears to have changed the Barack Obama administration's viewpoint regarding the HAMP for HAMPsters program.

Whereas another Barack Obama team member, Phyllis Caldwell raved about HAMP on Oct. 27, 2010 at a Congressional Oversight committee meeting hearing, Ms Henry came right out and said at a Nov. 12, 2010 Las Vegas Foreclosure Summit that homeowners will probably default even when they are approved for HAMP.

Vicki Henry said "one of the problems with loan modification is that it delays the inevitable". If that is true, then just offer a universal HAMP program without the paperwork hassle, but let the homeowners know that in exchange for a lower mortgage payment, banks will begin parallel foreclosure paperwork just in case the homeowner falls behind.

After all, that is what the banks did anyways, they started foreclosing proceedings, (parallel foreclosure) before the homeowner was put through the paperwork ringer! At least even it up and don't waste the homeowner's time, effort, and huge amounts of money, many times for an actual NEGATIVE result.

Negative result as in the homeowner would have been better off not wasting the time and the hope for something that just accelerated their own foreclosure specifically because of parallel foreclosure practices.

To read the entire eye opening article, click here.

If the government and the banksters had really wanted HAMP to work, they would have combined the HAMP program with a low interest rate credit card debt paydown incentive program. I always have to explain this idea or inevitably someone will post, "if people paid for big screen tv's on their credit card, why should I help pay for that".

The point is a low interest rate credit card debt paydown incentive program means the consumer is paying their ENTIRE PRINCIPLE off, plus a much smaller interest rate charge, as long as their overall credit card debt decreases every month. Many people who can't get out of credit card debt can't get out specifically because of the interest rate charges.

Below is a comment I contributed to the comments section of that article.

Vicki Henry sounds like she would have fit right in at a Nazi World War II concentration camp. It's not her job to say, "this program that Barack Obama has taken credit for really doesn't work, so quit crying about it." Either don't offer the program, or offer it and make it work.

I am sick and tired of Barack Obama's poker face over life and death matters to over a million homeowners. How many of the homeowners who would "inevitably fail" even if they got HAMP might have succeeded if a credit card debt paydown incentive program had been offered at the same time as the HAMP for HAMPsters program had been offered?

Barack Obama OWNS HAMP because he took credit for it, and has periodically bragged about HAMP ever since. If the program is a fraud, he needs to be impeached for luring homeowners into a false safety net. The idea that anybody eligible for HAMP is a loser is absolutely an outrageous statement for Ms. Henry to make.

Swarm The Banks, Parallel Foreclosure.

Pinoy Homeowner Wins Against Lender in a Wrongful Foreclosure Lawsuit

2010-11-12T14:44:00.000-08:00

Pinoy Homeowner Wins Against Lender in a Wrongful Foreclosure Lawsuit.

Don't mess with this cancer stricken, retired Filipino grandmother cuz she'll hire a lawyer and whoop the banksters arses. The reporter failed to mention that this was ANOTHER case of PARALLEL FORECLOSURE.

If you are planning on creating or broadcasting a commercial and want an objective, outsiders point of view about your commercial, contact Alessandro Machi about his consulting services at...

info at alexlogic.com

You can also view more

commercial critiques

by Alessandro Machi at

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Written Testimony of Chief of Homeownership Preservation Office Phyllis Caldwell Before the Congressional Oversight Panel | RealEstateRama

2010-11-09T03:41:00.000-08:00

(Edit Update - Nov. 27, 2010 11:11PM)

You can find congressional video and transcription links to all three congressional hearings on home foreclosures and mortgage service investigations by clicking here.

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Written Testimony of Chief of Homeownership Preservation Office Phyllis Caldwell Before the Congressional Oversight Panel | RealEstateRama

I feel there are lies being told within the testimony of Phyllis Caldwell that may rise to the level of perjury. Parallel Foreclosure happens, yet Phyllis Caldwell portended that parallel foreclosure does not happen, and never even mentioned parallel foreclosure even though Chase Bank has ADMITTED they implement Parallel Foreclosure before a homeowner can apply for HAMP.

I also feel that the statement below, also by Phyllis Caldwell is a clever way to avoid lying. Caldwell simply repeats what the MHA guidelines are without admitting or denying if they are being followed. While this may not be a direct lie, it is grossly misleading, and in my opinion could be viewed as a lie. Phyllis Caldwell needed to mention that these guidelines ARE NOT being met by the banks, and by not doing so, has lied under oath.

Under MHA guidelines, participating servicers must evaluate all eligible homeowners for a HAMP modification before referring them to foreclosure. For those homeowners that were already in foreclosure proceedings, Treasury guidelines require servicers to stop the foreclosure proceedings while the homeowners are being evaluated for HAMP. Should a homeowner not qualify for HAMP (or if the homeowner fails or cancels the modification), participating servicers are required to evaluate that homeowner for alternative loss mitigation modifications, such as HAFA, or one of the servicer’s own modification programs. If a homeowner proves ineligible for an alternative modification, servicers are required to evaluate that homeowner for a short sale or deed-in-lieu of foreclosure.

If all of these efforts are unsuccessful, participating servicers may not proceed to foreclosure unless they have issued a written certification to their foreclosure attorney or trustee stating that “all available loss mitigation alternatives have been exhausted and a non-foreclosure option could not be reached.” Only after these steps are taken and the certification delivered, may the foreclosure process proceed.

Seriously, does anybody believe all of those steps mentioned above were followed, and in that order? The mere act of parallel foreclosure happening BEFORE a homeowner can apply for HAMP renders the above statement as being nothing more than words with no weight or bearing of reality, a lie in my opinion.

Please Download the Chase Bank Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.

Barack Obama and his apparent violation of the Federal Hobbs Act, the Extortion Clause, here is the official document from the department of Justice.

2010-11-07T21:24:00.001-08:00

CLICK HERE TO GO TO DEPARTMENT OF JUSTICE FEDERAL HOBBS ACT.

It's really amazing to see how HAMP, Parallel Foreclosure, and 2403 Hobbs Act-Extortion By Force, Violence, or Fear, APPLIES to the Barack Obama administration's tacit luring of homeowners into the HAMP program, resulting in the loss of their homes!

Parallel Foreclosure Stories are pouring in from around the country, yet reporter after reporter is unaware of the term parallel foreclosure! Parallel Foreclosure is the key.

If the Barack Obama administration, (and maybe the George Bush administration prior), requires that americans MUST ALLOW PARALLEL FORECLOSURE TO OCCUR BEFORE THEY CAN EVEN APPLY FOR HAMP, then Barack Obama is using taxpayer funds to EXTORT HOMES from people under the color of right.

If the Banks are doing it without the administrations permission, then why does Barack Obama keep taking credit for HAMP, even as late as Oct. 27, 2010?

I realize now I will probably have to post this message hundreds of times before it slowly creeps into the american psyche via the media. And I believe I am not "spamming" a false message. I truly believe that Barack Obama is doing something so unethical that the Federal Hobbs Act identifies his behavior as being a violation.

If you were Barack Obama, would you continue to believe that the loss of a million homes to parallel foreclosure, initiated when a homeowner wanted to apply for HAMP, was an ethical act? If you were Barack Obama, would you be fearful that at some point there could be a groundswell of support for impeachment as the home foreclosure numbers of HAMP lured victims continues to grow into the millions?

What option is Barack Obama left with other than to pretend he hasn't violated the Federal Hobbs Act? Does Barack Obama have an option to bring up the issue of the Federal Hobbs Act violation first, before the media does, and somehow beg for forgiveness by explaining that George Bush Jr. did it too?

If rule of law actually works in the United States, at the very least, Barack Obama MUST address Parallel Foreclosure, HAMP, and the Federal Hobbs Act - the extortion clause. And if not, then at some point, reporters MUST bring it up to his administration, no?

My Email Response to Housing Wire dot com's Paul Jackson "A little bit of Sanity, Please" article.

2010-11-04T22:48:00.000-07:00

My email response to Housing Wire's Paul Jackson "A Little bit of Sanity, Please" article.

Dear Mr. Jackson,

your article, "A little bit of Sanity, Please" Ignores the 17 income streams created by home foreclosures, nor does it address the violation of the Federal Hobbs Act regarding using taxpayer money to deceive americans into the loss of their homes, which HAMP clearly does.

I am "just a blogger", but I have read several hundred articles about the home foreclosure mess and have done enough research to discover that "parallel foreclosure" kicks in prior to a homeowner becoming eligible to APPLY for HAMP, this is a violation of the Federal Hobbs Act and should be an impeachable action as Barack Obama has had 18 months to correct this banking practice. HAMP is nothing more than a LURE to home ownership loss and this has now adversely affected over a million homeowners.

Rather than Barack Obama correcting the Federal Hobbs Act violation and asking for mercy, our president is EXPANDING the abuse of the Federal Hobbs Act by offering unemployed citizens the same joke of a deal that he has already offered employed homeowners struggling to keep their homes, replete with the "get 3 to 4 months behind in your payments before we will let you apply for our taxpayer funded programs, deal".

You have chosen to focus on a few aspects of homeowner complaints while ignoring the million or more homeowners who have been messed with in a very life changing way. But hey, if a million homeowners defrauded only represents 20% of the pie, I guess you consider that acceptable???

http://www.swarmthebanks.com

http://www.parallelforeclosure.com

http://swarmthebanks.blogspot.com/2010/11/exploring-how-barack-obama-has-violated.html

Barack Obama really steps into it big time with his Foreclosure comments.

2010-11-01T10:18:00.001-07:00

CLICK HERE TO SEE ORIGINAL ARTICLE.

Read the comments section of this Huffington Post article called, Obama: More Aggressive Anti-Foreclosure Efforts would help People Who Don't Deserve it.

The comments are pretty much universally against Barack Obama, and many of the thousands of hostile comments are from his progressive base.

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

2010-10-28T01:15:00.000-07:00

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!

Foreclosure Mom's first rap song, Foreclosure Tears, a powerful indictment of HAMP, see the video and read the lyrics below.

2010-10-20T17:10:00.000-07:00

Below you will find the entire lyrics to the song "Foreclosure Fears", courtesy of Foreclosure Mom, who is the writer, publisher and peformer of the song, "Foreclosure Tears".

However, I first would like to focus on one particular section from the song lyrics as it relates to the fraudulent aspects of HAMP...here is an excerpt from Foreclosure mom's song, "Foreclosure Tears"

"You're not in default, your payments on time

In order to help you must fall 4 months behind."

Americans are taught in our Institutions to trust

So I listened to my bank and did what I must

With credit now ruined I called to apply

I was put on hold until I wanted to cry.....

-end of lyric quote

Although foreclosure mom has a sneaking suspicion that being required to fall behind on her mortgage payments before she can be eligible for HAMP seems ethically challenged and risky, (because parallel foreclosure kicks in), she along with 99.5 percent of all homeowners don't know what the danger is (parallel foreclosure) that awaits them.

Here are the lyrics to MOM RAPS "FORECLOSURE TEARS"

Here I sit all alone, and stare at the clock

Waiting for the moment when the sheriff will knock

Like so many others who manifested their dream

Convinced by the professionals in the great Wall Street scheme.

For the banks and the brokers, I had papers in hand

Tax returns, pay stubs, and maps of the land

Never had a loan and with the bank I debated

"Don't worry they said, that's why we go stated"

I gave unto them my bank statements piled tall

Oh no said the bank, we need nothing at all!

I thought to myself, how this could be

I was unaware of the paper feeding frenzy

Like so many Americans now living in shame

I was unaware of the securitization game.

All about finance I learned back in school

But nothing was taught about mortgage pools

The economy bad and about to go bust

I realized my loan was due to adjust

The bank reassured me, when my home I did buy

We will refinance you out of this loan, but that was a lie

I remember those words with angst and a frown

My home is underwater, completely upside down

I called up the bank to get justification

And ask them in fairness for a modification

"You're not in default, your payments on time

In order to help you must fall 4 months behind."

Americans are taught in our Institutions to trust

So I listened to my bank and did what I must

With credit now ruined I called to apply

I was put on hold until I wanted to cry.

After waiting forever and throwing a fit

I was given a list of documents to submit

I gathered up everything and faxed them my stack

After months of calling them, I finally heard back.

The response from the bank could not shock me more

A Notice of Default was nailed on my door.

Your foreclosure moves forward regardless they said

And your modification package has yet to be read

The day finally came when I was assigned agent Clarence

And soon the bank put me on a plan called forbearance.

For three months I paid more than I had paid before

But the uneasy feelings I couldn't ignore

Three months had passed with my payments on time

But what the bank did next should be a crime.

The bank needed financials and I asked them why

They answered because you may no longer qualify

What they said next went right to my core

In order to qualify I must pay $10,000 more

I sold many things big, medium, and small

The $10,000 booty, the bank got it all

I did all that was asked so our home we would save

I prayed every night and tried to be brave

I never imagined that at the end we would fail

But I knew it had happened when we received a Notice of Sale

The bank gave me a loan they said was a must

And they promised to change it before it adjusts

No court room, no judges, no madams or sirs

The money I owe is to a machine named MERS

My loan was bought many times, I know not the source

I will never find out who is "holder in due course"

So I loaded the cat, dog, and kids in the car

Took the last cash from our small cookie jar

I felt so alone, frightened, sad and so blue

If I could afford council, I would certainly sue

But alas, the bank won, their back gets a pat

No attorney for me they were counting on that.

Now read all about it and really get pissed

BOA pays 600 million dollars to investors on their list

Investors get their cash out of the toxic mortgage pool

While I lose my home and my son can't go to school.

Investors are not deemed to know the reps and warranties

Not required to notice the dotted i's and crossed t's

Borrowers they call us, folks like you and me

Servicer's say we're responsible, we signed the 1003.

Investors got paid and no one disputed

Homeowners speak up, we get prosecuted.

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Congratulations to Foreclosure Mom for a supreme first effort rap video about something that matters.

Modifying mortgage terms not so simple, Reports the Los Angeles Daily News back on Dec. 7, 2009.

2010-10-17T01:10:00.000-07:00

CLICK HERE TO ENLARGE HEADLINE.

It is important to remember that as far back as early 2009, homeowners were discovering that HAMP, DID NOT WORK. The above article, written by Susan Abram, was on the front page of the Los Angeles Daily News on Monday, December 7, 2009 and involved research and a recap as to just how ineffectual HAMP had been since earlier in that year.

Because the term Parallel Foreclosure was almost completely unknown back then, it is important to realize that the disconnect between homeowners getting into HAMP before their homes were foreclosed on was almost impossible because the banksters were practicing PARALLEL FORECLOSURE! As the sub headline states, "Process is too slow to save homeowners from losing their houses."

It is fascinating to go back in time and find these articles and realize that the key word, Parallel Foreclosure, was not used even though what the article describes is parallel foreclosure in action. When Did Barack Obama know about Parallel Foreclosure and why, over 10 months after the above article ran, has parallel foreclosure been allowed to go on?

Parallel Foreclosure basically ensured that MOST of the HAMP applicants would not get their mortgage modified, but would face a HIGHER CHANCE OF LOSING THEIR HOME even as the government, and Barack Obama, teased them with HAMP.

"Inside Job" Opens in Theaters Across the Nation Today!

2010-10-15T15:28:00.000-07:00

"Inside Job" Opens in Theaters Across the Nation Today, learn more by clicking here!

Or, you can go directly to locations and play times for Inside Job by clicking here.

Barack Obama has now backed two home foreclosure government programs that allow the banks to implement Parallel Foreclosure tactics!

2010-10-14T19:29:00.001-07:00

Barack Obama must find himself in a tough situation. Obama has hired Wall Street Cronies to be in his white house inner circle, and I presume in return he has allowed these cronies to influence his thinking on matters that have placed the american homeowner in accelerated foreclosure jeopardy.

It appears the president believes that homeowners deserve a chance to keep their home through government backed programs such as HAMP (Home Affordable Mortgage Program), and a follow up funding program for unemployed homeowners called EHRF (it has also been called EHLP) What is proving to be unbelievably mafioso is that parallel foreclosure is being invoked by the banks whenever a homeowner attempts to access either of these two Barack Obama backed government programs.

Parallel Foreclosure involves the banks beginning the paperwork to foreclose on a homeowners home when a homeowner either falls behind on their payments, or when they apply for HAMP or the follow up program for unemployed homeowners. Once the parallel foreclosure process is started, it is not always easily stopped, as we have come to find out after reading about homeowners who seem to be dealing with two disjointed divisions within the same bank. Some homeowners have been left homeless by parallel foreclose actions.

Could you imagine having to bring collateral with you anytime you went into a retail store or to the doctors? You are being told you are eligible for a discount, but to get the discount, you must leave collateral. Now imagine that instead of directly asking you for collateral before you can get your customer discount, the other party simply snuck into your home and took a few items without you even knowing.

Now imagine that even though you have had items taken without your knowledge, the other entity is actually publicly pronouncing how they PLAN on helping you even as they have already taken items from your home without you knowing it.

That is pretty much how HAMP appears to be playing out. To get an allegedly better chance at being accepted into the HAMP program, the homeowner is supposed to be behind on their mortgage payments or they may have to wait an interminable amount of time before being vetted for the program. Yet, if the homeowner voluntarily gets behind on their payments, the parallel foreclosure process begins!

The unemployment version of the homeowners foreclosure prevention program comes right out and says, "YOU MUST BE THREE MONTHS BEHIND ON YOUR MORTGAGE" to become eligible for a 50,000 dollar interest free loan!

Barack Obama and his merry band of Wall Street cronies have created a home foreclosure prevention program that allows the banks to initiate parallel foreclosure on every home owner who applies for either HAMP or the unemployment version of HAMP, and I find this so outrageous that I just don't see how this type of deceit can go on without the threat of impeachment being discussed at some point.

BREAKING NEWS! Matt Weidner sets up Foreclosure Fight Club Forum!

2010-10-11T07:35:00.000-07:00

CLICK HERE TO GO TO THE FORECLOSURE FIGHT CLUB FORUM

Matt Weidner, known for his foreclosure knowledge in the legal field, has just set up a forum for those fighting home foreclosures. The forum is somewhat focused on Floridians fighting home foreclosure, however, there are several different sections to the forum in which questions can be asked even if one is from a different state.

Hopefully the Fight Club Forum will welcome those who mention other blogs and websites about home foreclosures since we are all in this together. You will need to register before posting but that is a relatively easy thing to do, and it is free.

Breaking News, Chase Bank Approves Home Loan Modification for a higher amount than homeowner was already paying, and stands by their work!

2010-10-01T05:12:00.001-07:00

Parallel Foreclosure dot com is breaking this story FIRST before anyone else. The homeowner has asked for a modicum of privacy so their last name is not being used. Please link back to this story if you chose to use it in an article. Thanks!

When Barbara from the Bay Area applied for the Home Loan Modification program through Chase Bank, she hoped the reduction in home mortgage payment would be a difference maker in making ends meet.

Although Barbara had recently lost her job, she then found another one, but for less pay.

Among various groups of homeowners who should be handled with respect when it comes to home loan modifications, those who lose their job, but then take another one in their same field of expertise, even if it is for less money, should be included. What her employer could not provide in equivalent income was balanced by giving Barbara access to one of their in house attorneys for the modest sum of $2,500 to help guide Barbara through the home loan modification process.

Seven months later and Barbara's attorney quit, saying it was obvious that CHASE BANK was simply using stalling tactics when it came to approving a new home loan modification for Barbara. Strangely enough, it was not until Barbara FINALLY decided to not make a home mortgage payment this past August that her home loan modification was approved.

The good news....Barbara was approved for a Home Loan Modification.

The bad news is the Home Loan Modification is for a higher mortgage amount than what Barbara was previously paying before she applied for a Home Loan Modification! Barbara's Mortgage payment increased by six dollars and 25 cents!

How did Chase Bank work their magic and actually INCREASE Barbara's Home Loan Mod to a higher amount than it was before she applied for this money saving government program? Chase Bank selected the one month out of the year in which Barbara received her largest monthly income because of bonuses and commisions and multiplied that one month by 12.

Chase Bank Shenanigans may force this homeowner to sell a home she has lived in for the past 5 years. Even with the recent announcement that Chase Bank is suspending foreclosures for the time being, should Barbara believe Chase Bank, or should Barbara consider a short sale before Chase Bank smothers her, a home owner who deserves better.

I still can't comprehend how a media icon like Oprah Winfrey refuses to step in and save her own viewers from the vice grip of bankster groups like Chase Bank, especially since Oprah's Magazine has created contests in the past that offer financial consulting "prizes" from none other than "Chase Bank". Yes, Oprah and Jamie Dimon are from Chicago, for that matter, so is Barack Obama, and yet, the tease of home loan mods that never come to fruition, are coming to fruition.

As Oprah Winfrey does her final, "television victory tour" this year, ask yourself how many millions of people she actually could have saved from the clutches of unfair banking practices by actually using her television show to help her own viewers; and then instead watch her promote her celebrity friends on Oprah's victory tour and the many ways YOU CAN IMPROVE YOU.

Before you vote either republican or democrat this fall, ask yourself just how many politicians from either party have actually come down hard against companies like Chase Bank and their home foreclosure shenanigans, and then maybe you should consider voting for the independent candidate on the ballot.

Washington Post Reveals Ally Financial Robo Signed thousands of foreclosure papers every month, Chase Bank may have their own foreclosure skeletons.

2010-09-28T19:32:00.000-07:00

CLICK HERE TO READ ENTIRE WASHINGTON POST ARTICLE.

Kudos to the Washington Post for doing what my blog can't do, pay people to investigate the inner workings of fraudulent foreclosure practices by the banks. All I can do is put a flag up with my blog to warn people, as I have done for close to a year now on this blog, and hopefully spur other people on to do even more research.

Of course, I'll never know if the Washington Post has ever looked any of my half dozen blogs first, but I will give them credit for breaking this particular story about Ally Financial and Jeffrey Stephan, who apparently robo signed as many as 10,000 foreclosure documents A MONTH.

CLICK HERE TO READ BLOOMBERG ARTICLE.

Whenever a financial scandal of epic proportions is exposed, should we not assume that Chase Bank is involved as well? Sure looks like Chase Bank has their own foreclosure skeletons being exposed.

Is Paying off a homeowners legally approved deferred property taxes the number one foreclosure scam in the country?

2010-08-24T12:23:00.000-07:00

Apparently, Chase Bank, and companies such as American Home Mortgage Servicing will sometimes pay a senior citizens legally deferred property tax bill, then demand the senior immediately pay them back in full!

Some states allow seniors to defer their property taxes until they either sell their home or pass away, then the deferred property tax is taken from the sale of the home. Along comes either Chase Bank, or American Home Mortgage Servicing, who take it upon themselves to pay off the deferred property tax all on their own, but then they send a demand letter for instant payment to the homeowner for the legally deferred money!

In essence, the bank is attempting to nullify the home owners legal right to postpone their property tax bill knowing that if the homeowner cannot come up with the money, they can attempt to then foreclose on the home. How many people out there have already lost their home because of this tactic?

Another tactic used that can lead to a foreclosure I have read about is initiating a secondary home insurance policy on top of an existing one, then raising the monthly payment an exorbitant amount to pay for the new insurance policy!

Between the "do nothing for the home owner" comptroller of the currency residing in Texas, and American Home Mortgage Servicing also residing in Texas, Texas sure seems like a mess to me.

I'm still waiting for more politicans to get in the middle of this issue.

Never missed a mortgage payment --but facing a foreclosure! - Denise Richardson

2010-08-17T13:20:00.000-07:00

Never missed a mortgage payment --but facing a foreclosure! - Denise Richardson

American Home Mortgage Servicing pays up legally deferred property taxes then demands repayment from senior citizens.

Wow, Texas sure is a frontier state. No big government in Texas and law enforcement obeys thieves who file false paperwork. Click the top line of this article to learn about this disasterous situation in Texas regarding how American Home Mortgage Servicing forecloses on homeowners homes even when the homeowner provides the proper paperwork that negates AHMS's foreclosure claims.

Please Download the Chase Bank Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.

Reps. Grijalva and Kaptur Introduce Legislation to Allow Homeowners Facing Foreclosure to Remain as Renters

2010-05-25T22:27:00.000-07:00

Reps. Grijalva and Kaptur Introduce Legislation to Allow Homeowners Facing Foreclosure to Remain as Renters.

May I suggest that homeowners who are not upside down be allowed to apply their built up equity towards the rent, and that a running tab be kept on the difference between renting and getting caught up on the payments so the homeowner has five years to come up with the difference if they so desire.

Crucial Help for Homeowners Could Never See the Light of Day

2010-05-18T19:18:00.001-07:00

Senator Al Franken (D-Minnesota), who in my opinion should be wearing a cape to work every day, introduced an amendment to the Financial Reform Bill that would create an Office of Homeowner Advocate to assist homeowners who have been denied a loan modification through HAMP.

The Franken Homeowner Advocate Amendment, according to the press release, would be funded from existing sources and its focus would be to assist homeowners who believe their mortgage servicer is breaking the rules.

Click here to go to Shame the Banks and read the rest of this very important, call to action article for homeowners in fear of losing their homes by Richard Zombeck.

Article by Richard Zombeck.

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JPMorgan Chase Is No Fan of Latest Obama Plan to Stem Foreclosures

2010-05-15T23:48:00.000-07:00

JP Morgan Chase Is No Fan of Latest Obama Plan to Stem Foreclosures

Please Download the Chase Bank Protest Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.

Home Equity depreciation legislation I would like to see passed.

2010-04-27T11:23:00.000-07:00

I would like to see home equity legislation that creates a credit for home equity losses of greater than 10% retroactive to the beginning of 2008 and also does not allow a home to be foreclosed upon if it still has homeowner equity in it.

The Home Equity Depreciation Act of 2010 (my name for something that does not yet exist) would give a "credit" to homeowners who experienced a home equity loss of greater than 10% since 2008. This Home Equity Depreciation Act of 2010 can be applied towards paying down credit card debt. However, whatever home equity "credit" that is used to pay off credit card debt also results in a lowering of the homeowners overall credit card line by that same amount, or greater, and that credit card line would be frozen at that level for 3 years.

Any remaining home equity depreciation could be kept in a governmental trust account for accessing by the homeowner in portions spread out over a few years time. Perhaps to help pay for their healthcare, or college education, or, even as a matching fund down payment on a home purchase.

I would also like the Home Equity Depreciation Act to make it illegal to foreclose on a home if it still has equity in it. The beauty of this is if the bank trys to claim that the home has no equity in it, they may be undervaluing the home excessively, which would mean the home owner is entitled to a home equity depreciation credit. Either way, the homeowner is protected from unscrupulous banking practices that appear to be occurring on a daily basis.

If the home still has equity in it, than it should be applied to the monthly payment until it runs out, or have it time to run out by the time the homeowner has to leave, but not before.

INCREDIBLE, HARD TO BELIEVE STORIES ABOUT ABUSIVE FORECLOSURE PRACTICES can be found at Shame the Banks.

2010-04-24T10:27:00.001-07:00

Meet Mike Dillion, his story should make you livid. If his story is true, the people from Fairbanks need to be INDICTED.

Chase Bank tells couple to stop making payments so they can qualify for a home loan modification, then forecloses on them.

2010-04-16T23:00:00.000-07:00

Chase Bank, Chase Bank, Chase Bank. Another couple's home bites the dust because of Chase Bank Shenanigans.

Chase Bank tells couple to stop making payments on their home so they can qualify for a home loan modification, then forecloses on the home.

States finally telling big banks where to go, but will they follow through?

2010-04-16T13:05:00.000-07:00

Of course it makes sense for a state to invest its funds locally. The days of unrepentant derivative deals are over, and that is the primary way that Wall Street financial investment sharks make money, they simply re-package an existing service and shave off a significant amount of the profit for themselves.

Even if the shady derivative deal loses money, the Wall Street Financial Investment sharks still shave their "profit" off of the top. Cheer your state on to fight the evil that wall street cannot seem to move away from as the states consider moving their money away from the big banks.

Homeowner fighting back against Bank Of America mortgage practices.

2010-04-06T15:13:00.000-07:00

Learn more about how homeowner John Wright is fighting back against Bank of America. The article brings up an interesting point, why did Congress spend over a year battling about healthcare, which won't take affect for SEVERAL YEARS, while homeowners are losing their homes NOW.

Florida Home Foreclosure Signature Fraud Exposed in Court Deposition.

2010-03-24T22:27:00.000-07:00

Matt Weidner law dot com has reported that a court deposition from Cheryl Sammons reveals she regularly spent two hours a day blindly signing foreclosure paperwork without reviewing it.

Years ago I termed the phrase, "Paper violence". Apparently, we may be witnessing ground zero paper violence when it comes to foreclosure signatures without proper review.

From Mr. Attorney Weidner's blog it states, "I attach here all 138 pages of a deposition that was taken of Cheryl Sammons. Ms. Sammons may personally be responsible for more Floridians losing their homes than any other single person in this state".

To read the rest of this compelling article, please visit Mr. Weidner's blog by clicking here.

Chase Mortgage Modification Fraud, Scams, and Dirty Tactics

2010-03-11T00:46:00.000-08:00

Chase Mortgage Modification Fraud, Scams, and Dirty Tactics

Visa Creates Black Card, because life is good and you have tons of money to spend, and Visa has tons of money to spend making this commercial.

2010-03-03T23:31:00.000-08:00

Click here to see this piece of elitist crap commercial.

The Black Card from Visa, because after you skim billions of dollars from the government to pay yourself obscene bonuses, you gotta have fun. This commercial was disabled by Visa from being embedded anywhere but on YouTube. I wonder why. Possibly because they know about the backlash they would get if they allowed bloggers to post the actual commercial on their own blogs.

FDIC creates 500 well paying jobs in Illinois processing bank failures!

2010-02-20T12:40:00.000-08:00

See, the economy IS CREATING JOBS! Click here to learn about the 500 jobs the FDIC is creating in Illinois to help process all the bank closings.

Instructional Video about Home Foreclosures from Thing Big Work Small.

2010-02-16T03:44:00.000-08:00

Click here to see Video.

One aspect that is not being covered by this video is what about the original total value of the loan. While the banks that are buying existing home loans might be making money by foreclosing on a home, someone did lose money before these loans were taken over, no?

However, this video still makes important points about the banks who take over bad loans having more motivation to foreclose on a home than modifying a loan, and if true, is completely unacceptable.

Did Bank of America foreclose on the wrong house?

2010-02-14T11:53:00.000-08:00

Check out this story about Bank of America possibly foreclosing on a homeowners house who had purchased the house with cash, click here.

There is an additional link at the link provided above that takes you to the original story along with plenty of comments.

The Problem With America's Debt - Glenn Beck - FOXNews.com - Glenn Beck thinks debt with Chase Bank is "better" than debt with China. Gasp.

2010-02-02T20:12:00.001-08:00

The Problem With America's Debt - Glenn Beck - FOXNews.com

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Glenn Beck does not understand the real damage that consumer debt is creating. He thinks we would be "better off" owing Chase Bank rather than China. This is just nuts. We would be better off incentivizing the consumer credit card debt by removing the interest rate charges for any consumer who is committed to PAYING DOWN THEIR CREDIT CARD DEBT.

Everybody wins, even the Chinese. But Glenn Beck falls short with his analysis. The alleged tea bagger could not bring himself to admit that national banks have destroyed local economies.

I will give some credit to Glenn Beck for spotlighting that the Barack Obama is holding on to part of the stimulus money so that the democrats can use it just before the next set of elections this fall to seed Wall Street and possibly electrify regions of the country with stimulus money.

But Glenn Beck loses the credit, and then some, when he has the gall to say consumers would be better off owing Chase Bank rather than China.

Rolling Stone reveals how Barack Obama deviated from his campaign promises when it came to actually following through on them.

2010-01-30T22:18:00.000-08:00

The Rolling Stones article by Matt Taibbi reveals the shift that occurred from Barack Obama's campaign message versus what he actually did after becoming president. Barack's team changed after the election to a Harvard / Wall Street connection and they had not done so well on wall street in the recent past.

Ironically, the one area where Barack Obama did not listen to his Harvard Wall Street money group was when it came to balancing the budget, or even coming close, Barack Obama chose not to pursue balancing the budget.

Click here to read Matt Taibbi's article in Rolling Stone

My take on the article is it is about Barack Obama giving everybody what they want, and then something happens. In the meantime, 10,000 homeowners are foreclosed upon in the United States each day.

The Street Gets it Wrong when it Blames Consumers for not Reducing their own Consumer Debt, Gasp.

2010-01-12T20:19:00.000-08:00

I found a story identifying the reduced consumer debt as having to do with credit card write downs and not a change in consumer spending habits. I found the ending of the article offensive as it blames the american consumer for not doing more to pay down their debts.

This is an idiotic conclusion, and one that cow tows to the wall street banking banksters that have put their resources in scandaulous derivative schemes, bankster bonuses, seeding wall street, and international investments, NONE of which helps americans reseed their local economies.

The american people have been robbed of the ability to reduce debt because of existing ultra high credit card interest rates that is starving the rebirth of local commerce. To blame Main Street for the chicanery of Wall Street is just another slap in the face from the banksters as the line up for their billions in bonuses.

You can read the story and the scandalous final sentence on page three of The Street article by clicking on this sentence. If you don't move your money to a local community bank or credit union, who will?

Joel Grover of KNBC-4 Reports that GMAC actually Foreclosed on home even though GMAC knew it had already been sold!

2010-01-08T06:18:00.001-08:00

Every time a home in your neighborhood is foreclosed upon, the appraisal value of your home drops 1 percent!

View more news videos at: http://www.nbclosangeles.com/video.

Click here to read KNBC 4 Joel Grover's report on how far GMAC went to to override the sale of a person's home (Mark Kohn) and foreclose on the home seller even though the home had already been sold almost a month earlier!

Parallel Foreclosure strikes again.

Where Does the Term Parallel Foreclosure come from? From Chase Bank as quoted by Sarah Buduson of KPHO CBS 5.

2010-01-05T13:09:00.000-08:00

Somebody who claims to be a loan agent accused me of making up the term "parallel foreclosure". I did not make the term up, and find it sad that so few people seem to even be aware of either the term parallel foreclosure, or the practice of parallel foreclosure.

As you can clearly see in the image provided above, KPHO CBS - Channel 5 anchor person and reporter Sarah Buduson identifies the term parallel foreclosure in this news story from around Nov. 12, 2009 and credits the term to a Chase Bank representative, Mary Jane Rogers.

Click here to see my original story about Parallel Foreclosure which also includes a link to the Sarah Buduson news video clip about parallel foreclosure.

Edit update. The link above goes to an article I wrote over a year ago and I can't believe how long winded and "can't we all just get along" I was. It embarrasses me to read it now. If you want a better update on the history of parallel foreclosure (is that an oxymoron?), click here.

Parallel Foreclosure, What Banks do ALL THE TIME yet most homeowners have never even heard of the term.

2009-12-30T22:40:00.001-08:00

I just googled the phrase "parallel foreclosure" (with the quotes around the two words) and was shocked to see that there were only 1,270 total hits. On the first page of google, every hit was directly related to my posting about it either on my blogs or mentioning it on someone else's blog.

Considering that in 2009, 10,000 homes were foreclosed on every day in the United States, it makes sense to learn what parallel foreclosure is. Is it not scary that there are only 1,270 total google links for the phrase "parallel foreclosure"? If not for Sarah Buduson of KPHO-TV (CBS 5) Phoenix AZ, and google, I would not have learned about Parallel Foreclosures, either.

My goal is to see the practice of Parallel Foreclosures covered by 60 minutes, and sooner rather than later. I find it very disconcerting that public icons such as Oprah Winfrey and news outlets like 60 minutes seem afraid to take on the issue of parallel foreclosures.

To briefly recap what a parallel foreclosure is... The moment a homeowner either falls behind on their monthly payment or asks for a home loan modification, a separate division within that same bank might immediately start a foreclosure process on the home.

The problem is the bank may be working with the homeowner trying to do the home loan modification even as a separate division within the bank is processing the paperwork to foreclose on the home.

The person at the bank that is dealing with the home owner may not even know anybody from the parallel foreclosure banking division. This allows the banker in the bank to look the customer the eye and truly believe they are trying to help the customer even though the parallel foreclosure division located elsewhere may already be processing foreclosure paperwork on the home.

I am not saying this happens on each and every home, but it could be happening as fast as the banks can make it happen. This basically gives the banks the option to do whatever they feel like. They may modify the home mortgage loan, or they may foreclose, the choice is theirs unless the homeowner can catch up on the payments and all the penalties that usually have been tacked on.

In defense of the banks, there are homeowners out there that will try and milk what they know to be a hopeless situation as long as possible. The banks may have just decided to treat everybody the same. What is unfortunate is that the banks apparently don't notify the customer that a parallel foreclosure process is underway.

The Case for Ending Interest Rate Charges on existing credit card debt and home mortgages.

It is Time to simplify income taxes.

The 4% instant interest rate adjustment for ALL homeowners with no need for all the paperwork.

TheBurningPlatform.com » Economy » THE REAL WORLD - Bank of America cut credit line of a solid small business overnight and almost made it go under.

2009-12-21T19:20:00.000-08:00

TheBurningPlatform.com » Economy » THE REAL WORLD Please Click above to learn how Banks such as Bank of America not only practice Parallel foreclosures, but actually can harm small businesses to the point of putting them out of business by cutting their credit line overnight, which may then cause their employees to not be able to afford their house payments.

Please Download the Chase Bank Protest Flyer for FREE, and then all that needs to be done is just give a few copies out, it is really that simple.

Twas the Night before Bonusmas, and all through the House...

2009-12-17T13:26:00.001-08:00

Twas the Night before Bonusmas, and all through the House...Click here to see this provacative Mark Fiore Political Animation Cartoon Video about Bankers Bonuses.

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Chase Bank December 14, 2009 Photo of Protest in New York City

2009-12-14T11:36:00.000-08:00

I just came across this photo of the protest in New York City.

You can see 13 photos of the December 14, 2009 Protest by clicking here.

WELCOME to PARALLEL FORECLOSURE BLOG. The Blog that will Expose Unfair Home Loan Modification Banking Procedures.

2009-12-01T04:44:00.000-08:00

If not for Sarah Buduson of KPHO CBS 5 Television quoting a Chase Bank representative, the term parallel foreclosure might still be one of those banking phrases used by the bankers while also being kept a secret from many homeowners who are seeking a home loan modification.

If I have my way, no less a media giant than 60 minutes will one day use the phrase "parallel foreclosure" on their show, and it won't be in a good way.

Follow this blog as you the readers share your experiences and I help expose the wrongness of parallel foreclosure tactics.