Tuesday, January 3, 2012

Bank Foreclosure Fraud - FRAUD Element # 2 of 20 - Ignored Instructions to Service Loans

In the last phase of the Worst Bank Foreclosure Fraud in U.S. History, there were TWENTY elements of FRAUD employed entailing mortgage loans that were:
  • ALWAYS paid before the monthly due date
  • NEVER delinquent
  • NEVER in default
  • And with regard to Mr. Young residence in Chapel Hill, NC the subject mortgage loan was PAID-IN-FULL on the day he was violently evicted by a SWAT team of corrupt cops.
The 20 Elements of Fraud Were Perpetrated By . . .
. . . At the behest of . . .

. . . to cover-up the FRESCA crimes of MorganStanleyGate 

This entry covers . . .
 which involved . . .
Ignoring Instructions to Apply
 Available Funds to Service Loans

Jim Hoose
On Feb. 6, 2009 Mr. Young sent an email to Jim Hoose, directing Paragon Commercial Bank to “make the payments from [the main operating account], thereby bringing all the loans current [through the end of February 2009]”.

Then on Feb. 10, 2009, in response to one of Mr. Hoose’s typically prevarication-laden missives, Mr. Young responded with an email (copying Bob Hatley), which was aptly titled “Your Intentions Are Fraudulent & Malicious”. In it, Mr. Young repeated his earlier instructions – “I gave you explicit instructions via email to bring all Paragon loans current”, and asked him to “report back when you’ve brought each of the loans current”. (Note: There were sufficient available funds to do so WHEN INSTRUCTED on February 6, 2009), which is confirmed by the February 2009 bank statement produced by Paragon – HOWEVER, Mr. Hoose did NOT do so. 

Bob Hatley
On Feb. 11, 2009, Mr. Young fired off a memo to Mr. Hatley indicating its purpose to be to: “reiterate my instructions given to process debt service payments to ensure ALL of my loans with Paragon are kept current as they have always been since their inception”. Mr. Young further directed Mr. Hatley to “reinstate automatic debt service payments on all of my loans”, which were temporarily suspended for a couple of weeks in January. 

Despite these very explicit written instructions, which were also supplemented with similar instructions communicated orally, Paragon deliberately failed to follow them, and instead undertook additional actions intended to orchestrate entirely FRAUDULENT loan defaults. When Mr. Young received the bank statement on Mar. 4, 2009, he noted the following: 
  1. Paragon failed to process the debt service payments to bring all loans current on Feb. 6, as he had directed 
  2. Although Jim Hoose of Paragon was told to cease making the $5,000 monthly transfer to another of Mr. Young’s accounts, it was processed anyway on February 10; 
  3. Paragon only made partial loan payments on Feb.11, and failed entirely to process loan payments on the recently acquired Graham St. lots (to be used for stacked valet parking at The Courtyard of Chapel Hill); 
  4. On Feb. 13, Paragon wired monies out of Mr. Young’s operating account in the amount of roughly $12,000 without authorization, nor legitimacy (as discussed in the FRAUD element that follows). This is the same illegitimate transfer they said was carried out on Feb 10. 
  5. In failing to follow Mr. Young’s instruction, blocking the receipt of ACH deposits, and items # 2 and # 4 above, Paragon created the impression that there were insufficient funds to make the remaining loan payments 
As a result: Paragon deliberately defied Mr. Young’s express instructions to bring ALL loans current on February 6th, and instead undertook sinister actions to orchestrate entirely BOGUS and FRAUDULENT loan defaults. 

Importantly, Congress did NOT bail out Banks so they could defraud and persecute the taxpayers who bailed them out. Moreover, the corruption observed in this matter alone, suggests a threat to the integrity of the U.S. Justice System may exist.

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