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Tax Bills Put Pressure on Struggling Homeowners

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posted on Aug, 19 2009 @ 02:36 PM
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Tax Bills Put Pressure on Struggling Homeowners


www.nytimes.com

In 2006, Lucas County began selling off its overdue tax certificates to a New Jersey company named Plymouth Park Tax Services, a subsidiary of JPMorgan Chase. It also operates under the name Xspand.

The company, once run by the former governor of New Jersey, James J. Florio, was sold to Bear Stearns and then absorbed into JPMorgan after Bear’s collapse last year. Today, Plymouth Park is one of the largest players in the tax-lien business.

Plymouth Park has filed more than 1,000 foreclosure actions against delinquent taxpayers, more than any single mortgage lender in the county. But it
(visit the link for the full news article)

[edit on 19-8-2009 by sanchoearlyjones]




posted on Aug, 19 2009 @ 02:36 PM
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***********************snip***********************************


Private investors step in and buy tax liens, paying governments upfront all or part of the value of the taxes. The investors then get the right to foreclose on the properties, taking priority over mortgage lenders, and to charge interest rates as high as 18 percent on the unpaid taxes.



Hi Everyone Still Alive At This Point,

My heart is screaming out for People to wake up. I found this article today, and it was almost too much for me to handle;read it. The article outlines local level government leaches selling off tax liens to the same corporate entities who caused the financial mess, and the same vermin that received TARP bailout money....

These TARP benefactors proceed after acquiring the tax liens, and doing what their puppets in government cannot do legally; which is charge HUGE sums of INTEREST.

That's right the govt. just sold all of us down "Loan Shark Alley". The funny thing about this when given appropriate thought, and consideration is; Solely in my opinion, the entire totalitarian govt. of the US, is nothing more than the future/former VP's of the TARP corporations doing exactly what they've been instructed.

We live in times when we define SLAVERY better than ever before.


I guess that's as much of a rant as I can make for this post; I don't want ****the loan sharks breaking my knee caps; 'cause I ratted them out!!*******

Wake Up, and Stand Up!

-Sancho


PS, I've noticed as many of You, and I just wanted to say Lulls in the news are for reasons; the calm before the storm is usually how the Laws of Nature work. Remember that.



www.nytimes.com
(visit the link for the full news article)



[edit on 19-8-2009 by sanchoearlyjones]



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