During the financial crisis, Banks had a well executed plan to dupe homeowners. The scheme was simple.
First, start returning homeowner checks and payments for their mortgage account and people would stop sending funds while confused with what was going on.
Second, when the homeowner calls the bank or mortgage servicer, tell them to stop paying the mortgage for 3 months and then apply for the home loan modification plan.
Third, reject these applications continually over the next few months.
Fourth, now demand full arrears payment from the homeowners, (which no doubt due to the economic recession they no longer will have in their bank account – and the bank relied on that provision) or they will be accelerated into foreclosure, which is the plan to steal homeowners homes.
As you can see and hear below, this was a standard bait line given to homeowners in Texas to enable the Bank(s) to start foreclosure proceedings.
This was a premeditated act by Banks around the country to initiate mass foreclosure of homes from homeowners. It is the biggest theft against the citizens of America and rubber-stamped by the Courts and Government.
Oral Argument Hearing excerpt from Judge Priscilla Owen in the Fifth Circuit Court of Appeals excerpts)
“I’ve seen at least 50 of these claims…”
(starts quote at 19.52 mins +)
Emilia Diaz v Deutsche Bank