The Beginning Of The End
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How Big Banks Can Steal Your Home From You Even If Your Mortgage Is Totally Paid Off

Foreclosure - Photo by respresDid you know that the big banks have a way to legally steal your house from you even if you don’t owe a single penny on your mortgage?  Big banks and hedge funds are buying billions of dollars worth of tax liens from local governments all over the nation, and they are ruthlessly foreclosing on homeowners when they can’t pay the absolutely ridiculous penalties and legal fees that are tacked on to the original tax bill.  As you will see below, one 76-year-old man lost his $197,000 home that he fully owned over a $134 tax bill.  A 95-year-old woman lost her $300,000 home over a $44.79 tax bill.  This is a very, very dirty way to make money, and the predatory financial institutions that are involved in this business definitely do not want to talk about it.

Of course much of the blame should also be shouldered by the local governments that are coldly selling these tax liens to these ruthless predators.  If local governments want to collect their tax bills, they should do it themselves.  They should not be auctioning off their tax liens to cold-hearted financial institutions that are very eager to commit a legal version of highway robbery.

A few days ago, the Washington Post reported on the tragic story of a 76-year-old former Marine named Bennie Coleman.  Coleman had originally purchased his home with cash, but that didn’t stop tax lien predators from stealing his home over an unpaid $134 property tax bill…

On the day Bennie Coleman lost his house, the day armed U.S. marshals came to his door and ordered him off the property, he slumped in a folding chair across the street and watched the vestiges of his 76 years hauled to the curb.

Movers carted out his easy chair, his clothes, his television. Next came the things that were closest to his heart: his Marine Corps medals and photographs of his dead wife, Martha. The duplex in Northeast Washington that Coleman bought with cash two decades earlier was emptied and shuttered. By sundown, he had nowhere to go.

All because he didn’t pay a $134 property tax bill.

So why couldn’t he pay such a small bill?

Well, as the Post explained, these big banks and hedge funds keep tacking on interest, penalties and legal fees until the tax bills are many times the size that they originally were.  When the distressed homeowners can’t come up with thousands of dollars to pay off the debts, the big banks and the hedge funds move in for the kill…

For decades, the District placed liens on properties when homeowners failed to pay their bills, then sold those liens at public auctions to mom-and-pop investors who drew a profit by charging owners interest on top of the tax debt until the money was repaid.

But under the watch of local leaders, the program has morphed into a predatory system of debt collection for well-financed, out-of-town companies that turned $500 delinquencies into $5,000 debts — then foreclosed on homes when families couldn’t pay, a Washington Post investigation found.

In particular, hedge funds have discovered that this is a great way to make huge piles of money.  The following is a short excerpt from a CNN article that was published back in May

With buyers identified only by numbers or unrelated names, the fragmented, unregulated industry is opaque. Even the market’s size is debated — $15 billion a year, according to Howard Liggett, the chief executive of Distressed Real Estate Consulting Services, or $5 billion a year, according to the National Tax Lien Association, a trade group. While returns are a closely kept secret, investors typically make between 2.5% and 10% a year, or in the low teens for larger buys.

“The hedge funds are chasing yield in this business” says Albert Friedman, a principal at Alterna Capital, an alternative investment firm in Boca Raton that buys tax liens.

Insiders estimate hedge funds now control 40% of the tax-lien market, from under 5% five years ago, with regional banks, obscure partnerships sporting names like God’s ATM LLC, and mom-and-pop investors making up the rest.

And a number of “too big to fail” banks are involved in this business as well.

In a previous article, I described exactly how this works…

1) The big Wall Street banks set up or invest in shell companies that will disguise who they really are.

2) These shell companies run around and buy up all of the tax liens that they can get their hands on.

3) Predatory levels of interest (in some states as high as 18 percent), fees and penalties rapidly pile up on these unpaid tax liens.  The affected homeowners quickly end up owing much, much more than what the original tax bills were for.

4) If the collecting firm has to hire a lawyer, then that gets charged to the homeowner as well.  The bloated legal fees for some of these lawyers can end up being the biggest expense of all.

5) If the tax liens do not get paid, the collecting firms move in to foreclose as quickly as legally possible.

According to the Huffington Post, Wall Street banks such as Bank of America and JPMorgan Chase have been gobbling up several hundred thousand tax liens from local governments.  It appears that “distressed housing markets” are being particularly targeted.

Many of these tax liens are sold in online auctions, so it is unclear if many local government officials even realize who the big money behind many of these shell companies is.

These big financial institutions may consider this to be “good business”, but the truth is that they are absolutely shattering lives in the process.  This is particularly true when it comes to older people that do not fully understand what is happening to them.  Just consider the following examples from a recent Washington Post article

A 48-year-old math teacher paid his taxes in 2007, but the tax office took his $1,400 payment and applied it to the wrong house, crediting an entirely different taxpayer.

A 58-year-old bank employee almost lost her house in 2010 because the tax office mistakenly sent bills and notices to a wooded lot across from a strip shopping center in Virginia — 12 times.

A 69-year-old hat designer was given the wrong payoff amount and ended up in court to save her property, owned by her family since 1943.

Those homeowners found out about the mistakes in time to fight. Ninety-five-year-old Daisy Dolsey, living in a nursing home and struggling with Alzheimer’s, wasn’t so lucky: She lost her $300,000 house over a $44.79 tax debt even after she paid her taxes.

Doesn’t that just sicken you?

And then the big banks and the hedge funds have the gall to wonder why people dislike them so much.

In this day and age, large financial institutions have become more cold-hearted than ever before.

Always make sure that your property taxes are fully paid, and always keep a paper record of all financial transactions involving your home.

If you do slip up and make a mistake at some point, there is a very good chance that a ruthless financial institution will try to swoop in and steal your home right out from under your nose.

  • MichaelfromTheEconomicCollapse

    Are you guys as disgusted by this as I am?

    Michael

    • kfilly

      Yes, these crooks suck. Too bad the sheeple will never understand that they were never really free. Free countries don’t pull this kind of stuff.

      • All About Freedom

        The founders considered the right to own property a bedrock of freedom.

        Property taxes eliminate private property. If you must pay the government to keep the property you have already purchased, you don’t own the property.

        • terry1956

          Well I can see an annual fee for a deed guarantee and defense if it does not go above a set percentage of income say 5% but they should not be charging high fees and interest for slow payment.
          In my small populated rural county everything from the tax asseor, the finance person, the register of deeds ( the property tax collector) is an elected post along with 2 county commissioners for each district, the county mayor, the sheriff, even the road commissioner.
          If I find out the county is selling these liens to a high fee grabbing bank or hedge fund or any such grabber I’m going to work to see they don’t get reelected if they don’t stop and reverse any damage.
          Last but not least spread the word to the public and jury pool about the jury veto.

    • Rodster

      Yeah and especially to vulnerable seniors, how sad. The Banksters just love making more enemies.

      • markthetruth

        They might have dementia , they worked their whole life give them a break , damm towns raising taxes on union labor and things the seniors don’t use like the school which is half the taxes.

        the end…

        • Gay Veteran

          And would you support charging parents higher taxes since their children are going to school?

          • northernconservative

            Would YOU support eliminating property taxes for families that homeschool? Why in the world is it the governments responsibility to educate my kids??

          • Gay Veteran

            I don’t have kids, but you don’t hear me complain

          • terry1956

            give the parent a full voucher instead of giving the tax money directly to government schools and this person with no kids will not mind paying his property tax.
            If they still want their kids to go to a government school then the parents can use the voucher and the government school will have to do with that.
            Here in Tennessee education except to veterans weither to government schools, private schools or home schools should not be funded above the county government level, no federal funds for sure and no state funds.
            Yeah give the vouchers for home schooling as well, it would be better to give a mom a voucher totaling 16,000 or more for two kids, let her stay home to teach the kids and dad work outside the home or both work part time and both teach the kids in shifts.

          • Gay Veteran

            LOL, I can just imagine my mom teaching me advanced algebra

    • LifeLongLearner71

      “Disgusting” fits. Also, thanks for the stark reminder of the myth of “private” property in our system. You can never truly own your home. In effect, we’re all just camping.

      • Rodster

        Which is why I rent. No reason to pay the Banksters 3x the amount of the loan and still not be the rightful owner.

        • krinks

          Right. I wish I did. Property Taxes means an annual fee not all that much lower than rent to keep a house I spent 20 years paying off. What s scam.

        • terry1956

          pay cash.
          I paid 3000 federal reserve dollars for my 960 square feet 1980s mobile home two years ago.
          Don’t have the cash borrow from family, friends or a credit union.
          Or build, 10 years ago I build 320 suare feet cabin, had a spectic tank put in and a gravel drive way built for 4,500 dollars.
          In part I paid for the building supplies at local supply stores that had 30 day loans no interest.
          Buy an old RV or Bus and fix it up.

      • MelArk

        LOL good way to put it!

    • krinks

      Greedy Geezers vote for unaccountable demonrats year in and year out irregardless of what said demonrats to do the local economies and the burden they place on the tax payer. They should get some payback. Not this way though.

    • Syrin

      I’ve said for years that the property tax is the most unethical tax in existence. No other tax exists in perpetuity. Basically, the gov’t owns ALL property, and we are perpetual renters. I have had my mortgage paid off for years, but I’ll always be paying rent to my land lord, big frigging gov’t.

      • 2Gary2

        I hate to agree but you may be correct.

        I guess even a broken clock is correct 2x per day…

        • Chris

          Unless that broken clock is our “American” government.

      • seth datta

        Aaron Russo investigated this in his film, which can be found on Youtube, entitled “America, freedom to fascism”. Unfortunately, this wonderful man was murdered in trying to uphold the rights of the majority.

        • Tim

          Murdered? I believe he died of cancer.

          • seth datta

            The cancer was induced. If you use low dose ionising radiation, you can give someone cancer. You say he wasn’t murdered, whereas most people know he was. You probably think Princess Diana’s car crash was an accident too (even though most UK people know deep down this version of events to be false). Mabye you think 9/11 was terrorists, when the BBC of the UK reported that the building had fallen FIFTEEN MINUTES BEFORE this had actually occurred. I need you to wake up and see reality and not the false one they create for us.

          • Tim

            I did not say Aaron Russo wasn’t murdered. Questioning if Russo was murdered is not the same as saying he wasn’t murdered. I read that he died of bladder cancer. Was the cancer induced? I don’t know, and neither do you. Furthermore, I don’t believe the official government story of what happened on 9/11/01. I have spent a lot of time investigating the events of that fateful day, and it’s clear that the North and South Towers, as well as building 7, of the WTC complex were brought down with explosives. As to Princess Diana’s death, I really don’t care whether her death was accidental or not. Finally, you don’t need me to “wake up.” You don’t know me from Adam. And if you were to read some of my other comments here, you’d see that I’m not asleep.

          • seth datta

            Fair enough. I wish you all the best in future.

          • Tim

            Thank you for your gracious response.

    • Jodi

      Very sad, hopefully these are people who simply don’t have the money to pay their taxes. I know one too many people who would rather waste their money than pay for their priorities.

      I have a friend who is always complaining she doesn’t have money and how life is so difficult to survive but she seems to find the money to go on vacation. Wait, I thought you said life was tough.

      • terry1956

        what ever, is that any reason to turn her 200 dollar tax bill into a 5000 dollar debt?
        It doesn’t make a lick of sense to be so nasty?

    • DownWithLibs

      I’ve been saying it all along: nobody owns their home, nobody owns their property. They RENT it from the Gov. They rent it from SATAN!! (yeah, I said it!!)

      • squashpants

        Haha! That gave me a smile. Thanks!

    • RarefiedSnotress

      “If you do slip up and make a mistake at some point, there is a very good chance that a ruthless financial institution will try to swoop in and steal your home right out from under your nose.”
      First of all, tax liens typically take years before the property can be legally auctioned and the people receive notification upon notification in the mean time.. so “swooped from under your nose” doesn’t quite cut it.
      The rules on permissable interest are set by the county or state, not the financial institutions. Financial institutions aren’t the only ones who bid on tax liens.. any adult can.
      Sure it’s sad, but it’s not like the interest rates accrue greatly all of a sudden on small debts. These people have a lot of time to reach out for help.

      • Michelle

        In Michigan after missing taxes in one year the property goes up for auction. Used to be 3 yrs, but it’s been changed.

        • terry1956

          Thats so wrong and un American.
          Even if you went 30 plus years without paying they should not be allowed to take your property without an indictment by a county grand jury then the unanimous decision of 12 regular fully informed local citizens if the decedent demands a local jury.

    • BlackDog

      ‘Outraged’ would be a better term, Michael.

    • Roy Carey

      HELL YEA I AM!!! Our gov’t can give billions of $$$ to foreign countries…they can bail out these banks that are probably doing this crap…this should be illegal. This is a sorry-ass way to make a profit…they WILL answer to this 1 day…

    • Gay Veteran

      yes, parasite banksters

    • Mark Daniel

      Michael, how about a land patent? I have heard its the best way to put a halt to the examples in your article.

    • BenguluruHuduga

      Let me get this straight : The individual is good as long as mortgages / property taxes are being paid.

      a) Any idea who owns the title/deed ? Assuming one pays off the mortgage, will the homeowner get the title back ?

    • sherry762

      My Uncle Joshua just got an awesome white Mercedes CLS-Class Sedan just by working online with a computer… image source w­w­w.J­A­M­20.c­o­m

  • James

    Michael,

    I am disgusted yes but I would like more on the actually economy. These last posts have been on the war in Syria and how the banks take away homes, not on the economic despair presently and what is coming.

    • markthetruth

      Dude despair ? did you just read the article !!! this is whats coming anything think you own will be stolen from you LEGALLY !!!

      the end…

  • K

    Bankers, stockbrokers, governments of any kind, will rip your throat out for a dollar. The creeping darkness of greed and evil, just seems to get worse every day. Off topic: Thank-you for the Syrian coverage over the last few days. The evil ones in D.C. may still drag us to war. But thanks to you, and a few dozen other places, the truth got out. And if by Gods’ mercy we avoid this one war, this one time. It will be because the truth got out.

  • Sneed

    Well I’m a lawyer in Colorado and, at least for that state, I have to question that this article accurately reflects what happens. In CO the county sells a tax lien the first year it is delinquent, after notification to the homeowner and publication of all liens (and this publication is actually read by many). The same thing will happen for the following two years but the lien holder has no right to do anything with the lien other than expecting to collect the statutory interest. After three years of non-payment the county itself, not the lien holder, will issue a deed to the lien holder if an application for that it made. There is another notification to the owner and, if the taxes are not then paid, the lien holder, who will have paid the taxes for each year after purchasing the original lien, will then receive title. The process takes about four years after the original failure to pay and only interest and mayhbe publication charges are tacked on if the owner pays at any time before the application for deed is filed. After that application the county’s costs for processing the application are also added.

    Maybe all other states do it differently but the characterizations of this column do not apply in CO. It’s still a very sad process but there are lots of protections for the owner. But if they just can not pay they will eventually lose the property.

    • Rick Caird

      Does the state have to prove notification was made? For example, the article mentioned mail delivery to the wrong address and possible non delivery to a nursing home.

      • Sneed

        They have to use the address on the instrument, almost always a deed of trust. If the borrower is still in the property that should always be correct but if the borrower has left probably not. The publication is in a small local paper and takes up a lot of space. Someone not having paid their taxes SHOULD know to keep track of what is going on but since most are products of the american “education” system they probably have no idea about anything. There is no requirement that notification be received as that is often impossible when the property has been abandoned.

        • MAL3313

          Question counselor. If your talking about say, a $200,000 house and your 4 years into the process (the time frame you mentioned) and the total unpaid taxes, interest, fees, etc. the new lien holder has incurred amount to say, $100,000 who gets the $100,000 balance, the original owner or the one who purchased the lien?

    • Zenithod

      I’ll bet the process is similar in most states. The problem is that seniors and others may have health and/or mental problems that interfere with their ability to take care of every day issues such as this. New laws should be passed to protect these people. Maybe a property should have to go through a court prior to being taken with retributions against predatory lien holders going after the sick or infirmed. As much as I hate property taxes, it does seem to me though at some point if a person refuses to pay their taxes, some kind of action has to be taken to require them to pay. Maybe they should be given other choices, such as having a portion of their paycheck or social security check taken out over a period of time or setting up a reverse mortgage to pay for their unpaid bills.

    • Mark

      You’re missing the point of the article. It points out that we don’t own our property and that the government is acting like a mafia trying to get us to pay a tax on something that we should own free and clear.

      And the same government/corporation that is extorting us for money and stealing our property is the same one that is devaluing the dollar and manipulating the economy.

      They are forcing you to pay a tax on your own home using unlawful money. If someone just wants to live off the land, can they pay their property tax using eggs and vegetables?

      The property tax is the most unethical tax ever designed to enslave the sheeple.

  • markthetruth

    Why Can’t they take a ” reverse mortgage ” if the house is payed off. Then they can pay the taxes they owed !!! There’s a million commercials for these mortgages. Or just sell the house Instead !

    the end …

    • krinks

      Funny you should mention this. I was just thinking that. Why not reverse a mortgage in order to pay the taxes and upkeep on the family home? They do promise a steady income for life.

      • GOM

        These properties become foreign investments…..

        • terry1956

          and worse, also to people like Soros.

    • terry1956

      that is possible but why should they have to do that?
      Anyway my parents thought of getting a reverse a few years back and was told the limit was only for half the value.
      They did not need money to pay taxes but wanting extra income but since the value of the home and land was less than 80,000 bucks the full loan could only be less than 40,000.
      a better move might be a charitable trust or giving the home to a favorite charity such as your local church in exchange for an annual income based on your age as a percentage of the full value or at least more than a reverse mortgage of the gift in your will.
      But again why should seniors or other citizens be subjected to that to pay taxes?

    • whitedonkey96

      Can 96yo elderly ladies with dementia qualify? Even if they don’t know they need to apply? Jeez.

  • krinks

    I am sorry but when everyone has access to some sort of help there is no excuse for not paying property taxes off the top. What do you want to bet these morons have cell phones or Cable/Satellite TV or worse went to the Casino on check day?
    My Mother in law is one of these morons. Bills are what you do with your money when you run out of things to buy.

    • Rick Caird

      If you actually read the story, the problem is not the tax amount. The problem is these guys add on interest, fees, and a host of other charges. I also suspect these are small errors the kick the whole process off.

      I do wonder if this kind of theft is possible in homestead states such as Florida and Texas..

    • Professor

      pay your taxes and shut up!

  • Catalin Oancea

    Sorry for being off-topic: have you guys seen the yield these past weeks? It shot up from 2.78 to 2.99, then down again and now it’s going up. I’m not from the USA and I am curious about one thing: is the 3.00 threshold a psychological one which can cause severe unrest when it’s surpassed? Can we expect a sudden inflation of prices when this happens?
    Thank you and sorry again for being off-topic.

    • Tim

      Some believe that when the 10-year yield hits 3.5% it will trigger a “disorderly rotation” from bonds to cash or other investments. I’ve been watching the 10-year yield closely over the past few weeks. It’s interesting how it creeps up to around 3.00% and then falls back to down 10-15 basis points. Personally, I don’t believe the Federal Reserve will scale back it monthly Treasury purchases (i.e. taper). Yields must be kept low. Furthermore, I don’t think there’s enough demand for Treasuries domestically or internationally, so the Fed will have to continue buying.

      • MeMadMax

        NO TAPER FOR YOU!
        lol >_>
        Either way, still screwed…

      • squashpants

        Yes, as I have observed here before, we get excited when the rate balloons up, but then the next day it goes back down. Up and down. I guess because things are being done behind the scenes to keep the rate from getting to the feared 3.5% level. TPTB aren’t just going to sit and watch the rate spiral out of control, they are going to do what they can to mitigate the rise. Now, how long they will be able to successfully do this, who knows? At the end of the trading day, I always Google up the rate. Slowly, inexorably, it seems to be determined to rise.

  • davidmpark

    So, one would pay off a mortgage for 30 years, and the second there’s a lien on your property for any amount; it’s immediately seized and resold to the next sucker…

    Theft. No other name for it – I don’t care what excuses there are.

    • MeMadMax

      Not only that, but even after the 30 years, it’s STILL NOT YOURS!
      lol….
      I told my wife about this. She is from Guatemala. She has never heard of property tax or tax liens or anything of that >_>

      • WM

        My wife is from Peru, she said the same thing to me about the taxes.

    • RarefiedSnotress

      As I stated in a different post, it typically takes years before a tax lien property can legally be auctioned.

    • Wanda Pittman

      Ha,… I hear you. My husband & I have worked hard & bought our first house 15 years ago we kept our payments up all the time & kept the house in good standings as far as repairs. I got sick 11 years ago & my husband lost his job the same tine, but soon found a job. Even then our payments were kept up. but the last 4 months our mortgage got behind. We now have to pay 5,000.00
      thousand dollars by September 29 & today is September 23. I don,t know where we can even get 5,000.00 dollars, Anyone who could help would be great

  • A D

    The impending collapse can be stayed easily by the ‘man’ behind the scenes. When they are ready they will bring an end to the entire world economy to usher in the anti-christ. It is going to happen, people will be under a delusion and take the mark or however it is going to work.

    • Professor

      vav vav vav, monster energy drink, unleash the beast!

  • Mark

    I paid my mortgage off January of this year. I had a checking account with the same bank that I had the mortgage with started charging $14 per month service charge fees because I no longer had a mortgage with them, as a result I close my checking account with them.

    When I paid my property taxes this year I did it in person and made sure that I got a paper receipt.

    Mark

    • Ralfine

      Yes, always make sure you get receipts and keep them until you die or sell the property, even if the law states a limited number of years.

      There will be computer “fault” somewhere and suddenly you are in debt again until you can prove otherwise.

  • Mudpie

    I live in a vile, nasty country that has become corrupt to the core. So many of my fellow citizens are learning and seeing this as well. I suppose that is comforting. It has happened so quickly. No morality, big companies writing laws in their favor, waiting hours to talk to a necessary corporate representative to address a problem THEY caused, big govt. dictating healthcare.

    It is a disgrace and we are rolling over like cowards. I guess there is really no choice. Still, no fun to watch.

  • Trailer Park Investor

    Banksters will steal the coins off THEIR dead Mothers eyes.
    ((Buyer beware <;)

    • Professor

      money changers i.e. money masters i.e the few i.e the jew

      • billdeserthills

        Must be easy for You,
        You know everything & can simply blame any event beyond Your control on the jew. Any particular jew or just any old jew you can find seem to work?

        • Professor

          Its goes all the way back to the Magna Carta you shill zombified goyim.

          The document, which placed some limits on the king’s power, contained two provisions about Jews and money-lending. Medieval Christians were forbidden by Church law from lending money at interest, so much of the money-lending industry was concentrated in Jewish hands. This profited the king, who needed financial credit and also plundered Jewish wealth through levies and confiscations. (If a Jew died with monies owed, the King had the right to collect the debt.) The Magna Carta did not alter this arrangement or prohibit imprisonment for debt, but imposed two reforms: it assured that debts would not accumulate interest or become burdensome for underage heirs or widows.

          “Jews are the sponges of kings, they are bloodsuckers of Christian purses, by whose robbery kings despoil and deprive poor men of their goods.” —William de Montibus

  • no one

    Hope? Change?

  • t

    agenda 21 in effect

    • Ralfine

      What exactly is the relation to agenda 21?

      It rained here last night, and it’s cold now. Is this somehow related to agenda 21?

  • EyeSeeYou

    Homeowner = oxymoron

    • Professor

      you have the privilege of staying in “your” home as long as you pay taxes on it. You also have constitutional privileges not rights. You have no rights, you are owned.

    • pdxr13

      House “owner” = speculative lease payer.
      In most places, you can use the top 6 inches of soil without additional permission from the Masters. Perhaps, recognize that having an “equity” position in real property is foolish and extract the value by re-fi as-soon-as possible. If excessively underwater in a rising market with a non-recourse mortgage, give the property back (or squat for a time, keeping utilities paid, as allowed/ignored by law).

      Strategy: “own” the smallest property you can in your own name. Don’t improve it in ways that add to taxable value. Do improve it with things that don’t count, like fruit trees and garden. Isolate the property from any individual real person by owning it via an out-of-State corporation, preferably a legitimate non-profit. Rent it from the non-profit corporation. The corp has liability ins., you carry renter’s insurance.

      Pay attention to official notices from tax authorities, or pay a legal office to do so.

      Find a good deal and rent (lease year-to-year).

      Best of luck, on New Pearl Harbor Day.

  • xander cross

    And who own these hedge funds and banks that are doing this? The answer is white men. Once again, white men continue to plunder resources from the poor. I have no symphony for white men because they created this in the first place, including the majority of you here benefited from this. The white man is the problem and you all claim to be disgusted, but white men created these typed of laws in the first place.

    • Professor

      The answer is Ashkanazi Jew men

      • xander cross

        No, the white man is to blame.

        • Arno Krause

          No, the black man is to blame. How do YOU like reading racist drivel ?

          • FounderChurch

            No, Democrats are to blame, no matter their race.

          • xander cross

            And who owns these hedge funds that stealing people houses? Yes, that would be white men.

          • Professor

            THE JEWS Idiot.

          • TJ

            Jews and treasonous white shabbos-goy lackies

  • 2Gary2

    barak goldman sachs obummer will never do anything to rein in wall street. We need elizabeth warren for pres.

  • Ralfine

    Well, time to change the laws?

    • FounderChurch

      No take every Democrats citizenship.

      • Boo-urns

        And every Republican. They are just as bad.

        • FounderChurch

          NO! You sound like the whacked out Libertarian nutjobs who try to pretend both parties are the same so they can wedge in and and seize power.

          They are so smart but they can’t even read the Constitution and understand it, yet they lecture everyone on what THEY THINK it says.

          The Constitution EFFECTIVELY prohibits 3rd Parties, but the Tarians don’t like that so they pretend the Constitution does not say that. If they lie through their teeth going out the gate about that, how can they be trusted to tell the truth about anything else.

          Cato Institute is good and responsible and thank God have almost no connection to the Tarian crazies. They deserve nothing but contempt and anyone wastes their vote and their time and money having anything whatsoever to do with them. They hurt America, the Constitution, and they own cause by LYING THROUGH THEIR TEETH.

          • TJ

            Republicans are just as guilty bozo. There is no fundamental difference. Lindsey “Grahamnesty” Graham and John “W is my hero” McCain are “Republicans”.

          • Russell Haney

            What part of the constitution prohibits a 3rd party

      • Ralfine

        Revenge doesn’t help at all.

        You need to change the foundation. It takes a while and some effort, but will provide longlasting results.

        Get a party that follows your views most closely. Elect that party. Get your friends and partners with the same view elect the same party.

        Then change the law.

        Meanwhile protect yourself.

        Alternative: start a revolution or coup or whatever you want to call it.

        But still, you need to find like minded people.

        Get active. Locally. Sweep the sidewalks even you are not paid for it. People will start talking to you.

        • FounderChurch

          Can’t argue with your sage advice which makes sense, though most of your kneejerk Leftwing Democrat Gay rambling usually don’t. If you ever want to be taken seriously and gain respect take your own advice and start by getting rid of that asinine annoying Avatar. Just saying.

          • Ralfine

            The Avatar is annoying?

            It just reminds you that you deserve the same rights as I.

            What’s wrong with that?

          • TJ

            Best thing I have read from you… secession is the solution

  • Ralfine

    Why can the bank go against the house? Isn’t property protected in the US by law? Isn’t there at least a court order required?

    Aren’t there laws against deception and fraud, with intend to damage others or to enrich oneself?

  • JailBanksters

    I can’t help but get the Feelin’ that it’s time to Introduce the Banking Cartels to Mr Smith and Wesson.

  • NoGuff

    People can buy those tax liens and take homes, too. It’s not just “the evil banksters.”

  • thepoisonousmushroom

    jews

    • FounderChurch

      Democrats!

      • thepoisonousmushroom

        one and the same

        • Boo-urns

          Add Republicans in there too. The differences between a Democrat and a Republican have more to do with their logos than any substantive policies or agendas. Anyone who foolishly thinks one is great and the other evil is utterly delusional.

          • thepoisonousmushroom

            They all serve/have been blackmailed by the jew

  • Bank Insider

    You guys are blaming the wrong scapegoat–
    It’s not the banks that are being greedy and evil–
    FOLLOW THE MONEY —
    It’s Public Employee Unions:
    Local governments are cash starved due to the drop in property values and subsequent drop in Property Tax revenues. Local governments need to rake in every dime they can to keep the cushy pensions and benefits propped up for their Union Members. Someone needs to buy up these Tax Liens. Private individuals buy up some of them but the amount of delinquent property taxes has become so large local governments need Big Money involved. So they have enticed the banks into “investing” all the cash they are sitting on. A bank can make 2% to 3% in government bonds or invest that cash in Tax Liens which pay 8% guarranteed or they get the property for next to nothing.
    Then they can blame the banks for being greedy when it’s Local Government selling the deal all along.

  • al

    As I wrote to my congressman one day a few years back- If I were on a jury in a murder trial where the defendant killed a bankster whom he claimed screwed him over for whatever reason, I would have an extremely difficult time voting to convict no matter the circumstances. We the people are screaming for justice but no one seems to pay attention.

  • DJohn1

    My first problem with this is the woman in a nursing home. She doesn’t own the house any more because the nursing home does. Before Medicaid kicks in they have to use up all of your financial resources. I think you are allowed a $2,000 automobile. You are allowed funeral expenses. Other than that, the Nursing Home is out the money if the home goes to someone else. So the one to make the legal concerns might be the new owner, the nursing home thieves.

    A certain amount of money is allowed after the nursing home steals the rest.
    The rules are all set up between the bankers, lawyers, and other professional thieves. Who do you think made these rules?
    When she dies, if she still has money, the lawyers will take a really good cut of the money in the Probate from the relatives.
    Our system is designed to steal from anyone that works for a living. That is fact. It was designed by lawyers, for lawyers, and their associates in the banking industry.
    By the way, the banks are in on it with the government. Any transaction you make at a bank immediately goes to people like Medicare employees to make sure you haven’t disobeyed their rules.
    We are basically ruled by a bunch of parasites. When the hosts die they will move on to a new set of hosts.
    This is not new. It has been going on for a very long time. I first heard it described in a paperback book in the mid-80s. It might have been 7 years old when I read it.
    There is an actual book out there that describes all the “easy” ways to make money that was written about 5 years ago. Forgot the title, but it was a sensation back then and went into all the various laws of copyright, and foreclosed homes, amongst a bunch of other ways people make money by not working for it.
    The clue here is the college fraternities in the exclusive colleges. This is stronger than any Union I have ever been associated with. And that fraternal brotherhood rules the country! They stick together like the pack of wolves they are.
    Law is written by this pack and they are making the rules the rest of us have to live by.

    • Boo-urns

      I don’t see anything that states she is paying for the nursing home with Medicare. Perhaps her family is paying for it?

      • DJohn1

        You are correct. Most families do not have 4,000 dollars to keep someone in a nursing home for a month. There are always exceptions that make the rule. And the figure varies from one home to another. The arbitrary number of 4,000 might be off. What happens in most cases is that the finances of the person are drained. They cannot take the house if another person related to them is living there but that rule I think varies from state to state. As do a lot of rules controlled at the state level instead of the federal level. Only a lawyer knows for sure which rules apply and where they apply. I do not know all the variations.

        • Boo-urns

          No, I don’t think you’re off at all. I know my good friend has his father in assisted living, and the core room & board is outrageous, just shy of $6,000/month… and then they add on fees for every little thing, for example just to give him his medicine (which my friend purchases and drops off) is a couple hundred a month add-on.

          It’s boggles the mind… and no wonder people can’t afford to pay for it (themselves), at least not for long. And no wonder Medicaid won’t start paying until the patient has absolutely nothing left.

  • Melody Harpole

    The name of the story should read HOW THE GOVERNMENT STEALS PEOPLE’S HOUSES! People aren’t losing their homes to mortgages, it’s the governments rent aka property taxes which are being used to steal people’s land.

  • Chuck

    Albert Friedman, indeed. And they wonder why they ended up as soap.

  • lucille rothstein

    I thought if you were old or disabled while you live in that home, you don’t have to pay tax? At least in Texas I think that’s correct?

  • FounderChurch

    Don’t forget that 100% of these “governments are Democrat & near 100% of these victms are Democrat. Go figure somebody.Google “foundercurch”

  • mexsudo

    OK, back up a bit… The properties were taken by local agencies under tax foreclosure provisions. Banks or Investors purchasing from the County is just a side issue.
    This is not a new thing, properties have been lost for back taxes for a long time…
    Yes it is sad, but the spin on Big Banks is just silly manufactured news.

  • HAVE A HEART

    Look into buying the mineral rights under your house. It is frowned on by the counties because then you acually own the ground and they dont like that. It is very ugly when the counties just throw you under the bus.

  • kirk

    the reason these things and, in fact, all such things, exist is because they are allowed to exist. they are tolerated. accepted. until one’s personal ox is gored, that is.

    with no help from any legislative/legal quarter to stop egregious practices properly called ‘theft’, one then realizes the essential fact:

    no one gives a crap.

    this is why all things are as they are.

  • FounderChurch

    Racial and Religious Bigory harms Conservatism and Democrats do us a favor by locking ignorant racists and religious bigots up.They are Americas worst enemy. ALL Democrats are our only enemy.

    • TJ

      “bigotry” is nothing but the group survival instinct. Without it, conservatism conserves nothing and is utterly pointless. You solve bigotry with borders, not government.

  • Wascator

    In Louisiana there are protections against this; the property owner has numerous opportunities to “redeem” their property even after it is “sold”. Tax forfeiture is truly a disgrace.

  • Jacob

    It doesn’t surprise me the government would sell their already nefarious practice to even more nefarious institution – which holds no ethical responsibility towards the people around it.

  • piccadillybabe

    Funny that you mention this madness as something similar happened to me just last year. Paid my taxes ahead of time and 2 months later, hear from the tax office with my tax bill and interest added on. I’m thinking …. because I paid it. Called them, nope had not received it. I have lived here 20+ years never was late on paying and always sent to the same place. Turns out, they sent the check back to the bank and credited my account. Some how, the check got sent to the wrong address, at least that is what they claim. One must be very vigilant now days because we are living in a different world than just a few short years ago.

  • Mike

    Lawyer to check for liens at

    purchase and title insurance.

  • Too small to win

    How long and how much more are people going to take?

  • BlackDog

    IRS does the exact same thing. The more you pay (assuming you can’t afford to pay off the whole debt), the more interest, penalties & taxes they tack on. You stop paying, all that stops, too. You try to do the right thing, they penalize you for it. Tired of trying to do the right thing and getting screwed for it. Now I got a new question — How you planning on getting back to your car?

  • erheault

    Bankers have allways been thieves.My Grandmother during the depression kept her money hid at home, When we asked her why she said she would rather be robbed by a honest thief that a Dammed Banker, Nothing has changed.

  • Mark

    Yet when Americans get a chance for freedom they always vote against it. Example, 76% of North Dakota residents just last year, voted no to abolishing property tax. 76%. Problem is we are the minority and will be until there’s nothing left.

  • Youef

    Why should you expect to own your own homw anyway? You westerners get everything – too good you get it! About time you guys were brought down to the reality of the majority world. Just because you get up to work 8 hours a day don’t mean you deserve a home to own as yours.

    • humptydumpty

      Negative attitudes will defeat prosperity each and every time!

  • Petar Posavec

    I’m hardly ‘disgusted’ with this because it simply confirms that ‘ownership’ is an illusion that never existed.

  • pepe

    this is exactly what jews did in Europe during the middle-ages, and that is why they were hated so much.

    Same “people”, same strategy, new continent… now it is in your hands to stop them.

    • Jimbo

      Pathetic and Ignorant thing to say…(I am a Protestant BTW so don’t jump to conclusions).

    • humptydumpty

      The Jews as a people have been demonized by people just like you. Not every Jew is some rich banker, many are poor and fight to provide food for their families. You should remember, when you wish ill will against someone else, you will end up suffering the affliction you wished on another!
      Maybe you just hate Jews period? The Nazi’s! hated the Jews too, and that didn’t work out for them either………

      • TJ

        Yet every Jew (with vanishingly few exceptions) in the diaspora insists on open borders and multiculturalism at home, and immigration restriction and nationalism in Israel. Their reputation is well earned.

        • humptydumpty

          You help keep Hitler’s demonizing alive by comments you can’t back up! Jews are responsible for little things you use in everyday life like the development of the cell phone and many other inventions. Jews are the smallest group of people in the world! But Jews are also God’s chosen people! Guess you can’t stand that either?

  • Das

    Just wait till the government really needs money. They will tax you gold, silver and steal you 401 k. It’s all coming in time.

  • Nate

    I owe a large sum of back property taxes. I’m repaying at $1,800 a month. I hope I can pay them off in time …

  • Bubb

    Hope and Change. Didnt say what type………..

  • SN0man

    In a free market, I’m perfectly happy to see people get rich — I don’t want their money, just my own. But when they cozy up to the government and use guns to steal from us, they’re no better than the tyrannical government that empowers them.

  • Johnny Cook

    What amazes me is that many folks still don’t see the necessity of regulating the banks and thrift industry. Clearly, this industry has gone rogue and no longer serves the needs of the public.

  • CriticalThinking101

    There is no individual liberty in this country so long as you have to pay rent to the state. This country isn’t free; it hasn’t been free in a long time.

    • CriticalThinking101

      People can fight back by not financing their lucrative lifestyle through these big banks…but people keep living in their fantasy world with their big mortgages, auto loans, and credit cards.

  • Sir Francis

    Just pay your taxes deadbeat!

  • Virginia Jenkins

    THE CELESTIAL ANGEL OF RECKONING OVER PLANET EARTH will HANDLE the Wall Street Bankers DEEDS !
    There is a Real Higher Judge over Planet Earth !

  • pbr90

    When the judiciary fulfills the dreams of corporate thieves “under the color of law,” they become accomplices before, during, and after the fact. But, who considers the judiciary subject to their own laws in today’s everyone above the law except the poor.

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