Thursday, October 21, 2010
Wall Street Bankers: Tax Lien Vultures
First, these big banks made money by issuing hundreds of thousands of predatory mortgages. Then when people wound up in debt and fell behind on their payments and their bills, the banks began to foreclose (and we all know the mess that has become because of lost titles etc.).
While the economy is tanking all around as a result of the housing bubble debacle, the people get a double hit because they now have also fallen behind on property tax payments (taxes that have gone up because of a bad economy and municipalities needing more money), and now the banks are buying up tax liens on properties and hitting the homeowners with other fees for tax lien collections! And if the people don't cough up the money then they lose their home to foreclosure and the banks pick up properties for pennies on the dollar.
I don't think even the Mafia could have done any better in loan sharking and racketeering.
Why isn't this being further investigated?
Where is the Lame Stream media?
I guess our Attorney General is too busy campaigning to look into the tax lien situation in CT.