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

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!

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!

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.

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?

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

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

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

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.

Posted using ShareThis

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

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.

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.

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.

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?

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.

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.