|Posted on June 30, 2017 at 9:40 AM|
Seniors-vulnerable and not protected: A new class of involuntary servitude?
The 13th amendment (1865) abolished involuntary servitude and slavery. A year later The Civil Rights Act of 1866 continued the march toward basic human rights. Together these enactments were the natural antecedent for the 14th Amendment (1868).
The 14th amendment promulgated citizen rights as “privileges or immunities” and declared, because they too often were abused by those with power, that the rights of life, liberty and property were guaranteed and that these rights would be entrusted to the government for protection.
The rights of “Liberty of contract” and “Property” cannot be assuaged by one class of citizen (especially artificial citizens-corporations) at the expense of another, seniors. The possession of property as fruit of our labor must be absolute and any interference, especially by third parties, strictly scrutinized and where appropriate declared void by the courts.
Clear acts of interference occurred in the financial crash of 2009 which sent home values crashing to levels less than the debt they secured. Through no fault of their own senior’s homes were “underwater”, worth less than their mortgage. When they realized the futility of making payments on mortgages with no foreseeable hope of regaining “stolen equity” and worse, without principal reduction, earning a fair return on their investment, they became “strategic defaulters”.
Seniors approached their original lenders only to discover they were gone and their notes obtained for pennies by corporate strangers, non-bank servicers, which now had the right to collect their mortgage payments. These third party strangers took advantage of desperate seniors and coerced them into new toxic debt. Seniors became a permanent class of “Involuntary Servitude”. These predators “Savants of mortgage debt” realizing the contractual “right” to collect debt was worth more than the value of the homes they secured. They began the “prostitution of a class” and, through foreclosure became the 21st century’s “Robber Barons”.
The government has not stopped this predatory conduct by removing their corporate charters, and nationalizing their assets. Instead with meager fines and allowing mergers Government has enabled more bad behavior. Now seniors must ask the courts for relief under the13th, 14th amendments and the Civil Rights Act of 1866. Without relief we risk a new age of feudalism.