To: President Donald Trump, The United States House of Representatives, and The United States Senate
Homeowner's "Bailout" Investigation
This petition requests an investigation and transparency of the credit swaps, by which banks made billions of dollars, despite being "bailed out" by tax payer dollars.
Banks were allowed to purchase credit swaps on loans they created. A credit swap is like an insurance policy that pays when a loan defaults. If banks were paid when a mortgage loan defaulted, then, foreclosing on a home or accepting mortgage modifications, means they are collecting twice. Furthermore, if the mortgage was paid by the credit swap, the banks are wrongfully foreclosing, and the homeowner owns his own house.
Banks were allowed to purchase credit swaps on loans they created. A credit swap is like an insurance policy that pays when a loan defaults. If banks were paid when a mortgage loan defaulted, then, foreclosing on a home or accepting mortgage modifications, means they are collecting twice. Furthermore, if the mortgage was paid by the credit swap, the banks are wrongfully foreclosing, and the homeowner owns his own house.
Why is this important?
Nationwide, banks are foreclosing homes. Many people are left without homes and are in financial ruin.
This petition requests an investigation of the Banks, who purchased "Credit Swaps" against defaulted loans, and an investigation of when and how the credit swaps activated.
Furthermore, it requests an investigation as to whether the banks are wrongfully foreclosing on properties, for which they may have been already paid through the "credit swaps."
This petition requests an investigation of the Banks, who purchased "Credit Swaps" against defaulted loans, and an investigation of when and how the credit swaps activated.
Furthermore, it requests an investigation as to whether the banks are wrongfully foreclosing on properties, for which they may have been already paid through the "credit swaps."