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.

Florida Home Foreclosure Signature Fraud Exposed in Court Deposition.

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

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.

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!

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.

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.