Flyer – Issues surrounding foreclosed homes

I am scheduled to meet with Georgia State legislators on foreclosure issues dedicated to the fraudclosure mess and the continued victimization of homeowners. I will cover the “lock box” hold that Bank of America put on the escrow overages of loan modification homeowners that I discovered in 2010 and the truth about “lost docs.”

Here is a PDF link to my flyer summary: Issues surrounding foreclosures – 2 columns

If you want to thank me, my flyer is for sale on GumRoad for donations: https://gum.co/zYBu

Donations will cover my lunch, bus fare, printer toner, paper, and encouragement to write a far more detailed analysis of the fraudclosure mess and what we can do to help clean this economic mess up.

For your reference, here is the text of the half-sheet flyer (see text below):

  1. Tax and law issues
    1. Cheating the land title registry system through securitization
    2. Non-judicial process bypasses courts and destroys remedies
    3. Impossibility created through securitization obstructs justice
    4. Nuisance abatement becomes impossible through title issues
  2. The economic damage
    1. Conversion to rentals eliminates disposable income
    2. The “trickle market” artificially raises home prices
    3. Uprooting families is hurting school system budgets
    4. Counties lose sales tax revenue from lost businesses
  3. Why you should care
    1. Crime rates rise from manufactured hardship
    2. Tax base erosion is creating budgetary sinkholes
    3. “Teflon” executives cause political attrition
    4. Securitization creates economic security risks
    5. Empty homes create a public health nuisance
  4. Tools the banks use to steal from counties and homeowners
    1. “Lock box” policies on escrow overages – possible theft.
    2. Dual-tracking – catch-22 traps against homeowners
    3. Paper dumping – offloading loans to avoid settlements
    4. Departmental fog – blocking homeowners through red tape
    5. Stealing time – parasitic delays on filing title changes
    6. Ducking jurisdiction – securitized homes “too big to attach”
    7. Straw buyers / market in the middle – cheats owners of true sales
    8. “Lost Documents” excuse – facilitates dual tracking
  5. The math
    1. 1 in 5 homeowners suffer a medical issue or other crisis
    2. PMI is to last until 5 years or 20% of the principle is paid
    3. The theory of expanding budgets almost guarantees failures
    4. Loans at 30% of income / 6% are expected to fail by 5 years

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About Amy Barnes

Author has extensive experience in Retail, including two years as a supervisor. Educated in Psychology, Financial Accounting, Criminal Justice, and Programming. Work experience in Law Enforcement, Security (IT), Programming (REALBasic, SQL, VB, JAVA), Retail.
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