Strategic Defaulters Unite For Personal Economic Recovery!  :>)  Much self serving testosterone saturated bovine dropping have been published promoting the idea that consumers were some how duped into mortgage loans they were to stupid to understand.

Balderdash!

There are only individual humorous antidotal proofs of such causes and only primary and general election results to support the idea of mass idiocy.

For what ever reason we did experience that first wave of foreclosures.  Strategic default has seemingly been forced upon you by the systematic sabotage of your hard earned equity by banks, bankers, appraisers and their regulators, luting both home owners and their own stock holders.

With the first round of foreclosures the banks (including all forms that ended up in control of the foreclosed properties.) ignored their fiduciary duty to their stock holders. Abandon their obligations to their debtors. Flaunted the very duties agreed to by accepting a privilege license to do business, in the first place!

The first attack on your equity and their stock holders security was dumping large numbers of REO's on the market at below market value. This not only caused higher deficience balances for the troubled debtors, it caused the bank's owned stock holders to take greater losses than necessary. An unintended consequence was the lowering of all home values in their service area.

When these REO's did sell and subsequently individual home owners sold their properties, these very banks forced appraisers to violated a century old appraisal policy of ignoring distress sales when determining value. This further reduced private equities causing the REO's to be reduce further to remain below market, again reducing private equities in a never ending chain.　

As REO volume grew and short sale request became common did the banks determine properties values by the use of licensed appraisers, at an arms length as they demanded of the consumers? No they used BPO's! Licensed real estate people but not acting in the scope of their license, when an agent provides a BPO for cash that's an appraisal, not to be confused with providing the same information to a buyer or seller in an attempt to secure a listing or sale. Without the safe guards we're told are so necessary for an appraisal! We can only assume these non-appraisers non-appraisals further lowered every ones equity.

Strategic Defaulters Unite For Personal Economic Recovery! :>) It is time for the biggest tort claim since the tobacco settlements! Strategic Defaulters Unite in a class action against every bank that has destroyed your equities by selling REO's below market in the last two years.

Included every institution accepting short sales below market in the last three years.

Included every appraiser who included distress sales as comparables in the last two years. (This will allow all sellers in the last two years weather successful or not to be additional plaintiffs.) 　

The suit will be based on conspiracy, violation of public trust, interference with business, and racketeering under The Racketeer Influenced and Corrupt Organizations Act, RICO standards.

Strategic Defaulters Unite For Personal Economic Recovery!