Home foreclosure is destroying families after fraudulent unregulated banking practices have illegally entrapped and foreclosed on millions of homes. Rampent,illegal and immoral business practices have gone unpunished and the foreclosures continue. Unfortunately, it is the individual homeowner who suffers and she has no representation on the federal level and no available resources to pursue legal help.

This is the story. Over the last decade national and international banks created the largest fraudulent and unethical business scam in history and millions of Americans lost their lifetime savings and homes. Offering easy money, families borrowed to cover remodeling, moves, medical and education expenses. Yes, during this bubble there were some investors but this is not addressing them, this is about our average, hardworking single parents, minorities, senior citizens. and average people. These loans were never meant to be held by the lender. They were packaged and repackaged and at every level, profits and loss were designed to fulfill the corporate mission of investment return. Unfortunately, this was done at the expense of individual lives and the human toll has not been addressed anywhere in health related damage. One can imagine the impact though.

This is how it works. The bank lends you money. You are told to stop payment to refinance with the new taxpayer funds. These funds were specifically established to help homeowners, and you prepare your paperwork awaiting a loan officer to renegotiate your loan. The bank continues to ask for more documentation and as you send it in, foreclosure proceedings begin. Staying in constant communication with the bank, the homeowner is mislead into thinking her loan is being modified. Unfortunately, time is working against her and as the foreclosure gets closer, she frantically tries to resolve her financing. The bank forecloses. 

The bank claims to have title to the property yet often the note is missing, lost in all the transactions and the deed is clouded. The homeowner probably was dealing with an illegal MERS assignment. Her equity, credit and peace of mind is gone, she moves and the house sits empty. The bank however has done a nice piece of business. At the foreclosure, the bank bid a reduced amount under the loan value and was reimbursed the rest by US. After this they resold the home for a nice profit. This is not considering all the tax advantages. The banks have stated that they were not obligated to use the money they took for homeowners for homeowners. Literally laughing all the way to the bank, we have witnessed the largest, illegal transfer of individual wealth in history and they are still foreclosing.

As in any issue this large, it will take years to move through the rubble. This petition has one goal. Make foreclosure illegal NOW. Make the banks adjust to current market value, offer the lowest .interest rates and keep Americans at home