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

(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.

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?