B of A Parallel Foreclosure CONFESSION

Thursday, April 19, 2012

How Barack Obama has violated the constitution in regards to Parallel Foreclosure and why he should be impeached and removed from office.

Using a hunch of mine, and then researching that hunch in Black's Law Dictionary, 4th edition, by Bryan A. Garner, editor in chief, I found two passages about the Unconstitutional-Conditions doctrine and how it may be applied to Parallel Foreclosure...
Constitutional Law (as to how it may apply to Parallel Foreclosure). 
1. The rule that the government cannot condition a person's receipt of a government benefit on the waiver of a constitutionally protected right (esp, a right under the First Amendment)......   
My interpretation of rule 1 is a bank forcing a homeowner to default on a home mortgage before the bank will either accept or review that homeowner's mortgage  modification application. This is a clear violation of constitutional law because the bank is using the default  to then "parallel foreclose" on that homeowner and the government has approved of this practice.


In essence, the homeowner is "waiving the right" to home ownership in exchange receiving the government benefit of applying for a home mortgage modification with no guarantee they can keep their home or get a lower mortgage rate.
2. The rule that the government cannot force a defendant to choose between two constitutionally protected rights.
My interpretation of rule number 2 is, Parallel Foreclosure violates a homeowners constitutional right to receive a government benefit by allowing banks to prioritize the benefit only after the homeowner has fallen behind on their mortgage, putting the homeowner at risk  of being parallel foreclosed upon by a bank because it BECOMES THE BANK'S CHOICE whether the homeowner loses their home or not!
The homeowner has been forced to give up control over home ownership in exchange for a government sanctioned home mortgage modification.
While the Barack Obama administration may not have officially endorsed Parallel Foreclosure (although they have defended Parallel Foreclosure as being legal in front of Congress!), they know parallel foreclosure is going on and have actually sanctioned it as being legal, and allow banks to dangle those government funds in exchange for being parallel foreclosed upon.


When the Obama administration does not repudiate parallel foreclosure and instead continues to create government backed home mortgage modification programs that allow for parallel foreclosure actions by the banks that are also receiving funds from the government for home mortgage modification programs, the Obama administration is complicit in the over one million homeowners victimized by parallel foreclosure.


What is Parallel Foreclosure? 
Parallel Foreclosure is a bank approved methodology in which banks only grant government sponsored mortgage modification funds to homeowners who are first required to default on their home mortgage monthly payment before their mortgage modification application is reviewed.


Thus, once the homeowner has defaulted per the bank's preference (otherwise the bank will either ignore the home modification request or make the homeowner wait a long period of time before  dealing with their request), the bank believes they can begin parallel foreclosure actions while continuing to deceive the homeowner while "processing" a home modification application they may have no intention of honoring. 


In essence, the bank has taken ownership away from the homeowner and instead will do what they think is best for the bank, not the homeowner, a clear violation of both constitutional points made at the top of this article.

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

5 comments:

  1. Restate your case, and remain friendly and courteous. Supervisors usually have more leeway when negotiating.
    lenders for bad credit

    ReplyDelete
  2. I have no affiliation with comments that are left with links to other sites, please be careful before trusting a link that may not have an actual verifiable physical address and a phone number that is attributed to that physical address.

    ReplyDelete
  3. We as citizens. Don't have right here they make believe. But that's not true the told me that I had to. Be 3months late before they could help to modify. My loan after. That time they served me and my Tennant they. Gave my Tennant papers. With. My social security. #

    ReplyDelete
    Replies
    1. I think by being late it means the homeowner is probably in need of help. However, forcing people who are truly struggling to be late doesn't seem fair, ethical, or perhaps even legal. Your state may have a program like the one in California that reduces mortgage principal up to 100,000.

      Keep Your Home California Apparently one has to be 2 months behind to be accepted into the program, which I don't think is fair or ethical.

      Delete

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