Predatory Property Tax Collection

[GIT-R-DONE!]

INFOWARS.COM

Per the INFOWARS article "Predatory Property Tax Collection" here is the why government did this. The feds put it through last year at the recommendation of a few private associations that represented many local governments and it was the government that pushed forward to require the banks and mortgage companies to do the tax collection tied directly into the mortgage. (Quicker money for the local governments) Read the new mortgage documentation and the banks have been required to collect property taxation up front for the local government.

Government in most venues had to wait four (4) years to move forward with foreclosure for delinquent property taxes. Well now that they have assigned the banks to do the collection, the banks usually move on foreclosure in six months which gets a new head in the door to pay the same levied property taxes quicker.

I note that is a severe conflict of interest and that all who own a home should move on code enforcement against their local governments.

The property tax is for the benefit of the local government (the beneficiary) of which in many venues when established the people securing their interests to protect themselves made sure there were strict time-lines and procedures required before a local government could try to grab your home for past due property taxes.

Well, it appears they have bypassed those restrictions with this one tactic. BUT, being that the local government is the beneficiary of that property tax collected through the mortgage they are also the primary responsible party by assignment or allowance for assignment as the underling direct beneficiary. In doing so or by participation, they have broken their own laws and statutes firmly put into place on their books that allowed them to collect property taxes in the first place.

In fact based on the damaged parties (number of home owners effected) the potential of claim value from these type of collection actions actions to bypass standing local government restrictions; statute; and law here for the direct benefit of those same local governments, it would be good grounds for suspension of that or any local governments charter (shut them down) for having participated for the purpose of financial gain.

Walter Burien - CAFR1.com