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Alan Jenkins
Published: Wednesday 30 November 2011
“The movement has deemed December 6th a National Day of Action to Stop and Reverse Foreclosures.”

The Occupy Movement Focuses on Foreclosures

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As the Occupy movement enters its third month, it is moving into a new phase. Colder weather in the north, combined with aggressive push back from city officials around the country, is requiring the movement to adopt new, innovative approaches that include, but transcend, public presence as protest.

Pundits are wondering aloud whether Occupy is through. But this young movement is just getting started. An exciting piece of evidence to that effect is a new focus on foreclosures.

Alongside its call for job creation, corporate accountability, and relief from crushing student loan debt is a growing demand that Wall Street and Washington make right the disaster for homeowners that their greed and neglect respectively caused. The movement has deemed December 6th a National Day of Action to Stop and Reverse Foreclosures.

The new “OccupyOurHomes.org” website describes the stakes and the problem well:

“Everyone deserves to have a roof over their head and a place to call home. Millions of Americans have worked hard for years for the opportunity to own their home; for others, it remains a distant goal. For all of us, having a decent place to live for ourselves and our families is the most fundamental part of the American dream, a source of security and pride.

In 2008, we discovered bankers and speculators had been gambling with our most valuable asset, our homes—betting against us and destroying trillions of dollars of our wealth. Now, because of the foreclosure crisis Wall Street banks created with their lies and greed, millions of Americans have lost their homes, and one in four homeowners are currently underwater on their mortgage.”

These Americans are joining many others, particularly in communities of color, who were victimized by predatory lending and lax enforcement for decades. A new report by the Center for Responsible Lending, for example, shows that African Americans and Latinos were consistently more likely than whites to receive high-risk loans. While an unacceptable 12 percent of White Americans have lost their homes to foreclosure or are delinquent, a staggering one-quarter of Latinos and African-Americans are in the same position.

Fortunately, there are a range of solutions that can save homes, restore communities, and rebuild the American Dream of fair and sustainable home ownership. They range from mandatory mediation of foreclosure proceedings, to pre- and post-purchase counseling, to principal reduction and bankruptcy reform. Also important are approaches like own-to-rent programs, community land trusts, and improved fair housing enforcement. And when Congress again takes up the future of Fannie Mae and Freddie Mac, it will be crucial to maintain a government role that keeps home ownership accessible and sustainable for working Americans.

The Occupy movement and its allies have been criticized, unfairly in my view, for failing to articulate solutions. As their attention turns to addressing foreclosures, it is clear what they are working for.



Show your outrage. Don't let

Show your outrage. Don't let these cowardly assaults be forgotten. Equate Pike's name with pepper spray, just like Quisling is synonymous with betrayal from within.

http://www.cafepress.com/qqqquips/8340041

I feel kind of stupid and

I feel kind of stupid and uninformed, but I don't get it. What does it mean to "receive a high risk loan"? Isn't that to borrow money you are unlikely to pay back? Isn't it the lender who's at risk? What is predatory lending? Isn't our whole consumer-driven society fueled by a buy-now pay-later approach? Do these banks and corporations trick people into borrowing money they can't repay and have no collateral for? Did someone coerce these students into taking bad student loans. I guess I always saw the scam being to get people to loan you money you had no intent of repaying, and not the other way around. I'm sure people have been wronged and hurt, but this article seems just a lot of empty, toxic rhetoric.

Donna M Crane's picture

I sold Real Estate for 11

I sold Real Estate for 11 years. I and most brokers I know do not understand all the loan documents. I quit selling in 1989 and at that time I would have lost my license for using techniques that are now allowed as regular business practices. It was against the law for me to take a kickback to "steer" clients to a particular mortgage company or insurance company. Then deregulation took away buyer protection and created a casino market weighted against the consumer. People, who naturally want the American dream of a home, get sent to lenders and insurance companies that sell bad product (deregulated) to people who don't understand what they are getting. It went like this with the lender, "Mr & Mrs Homebuyer, we can give you a loan now for 1% interest rate so you'll qualify for the loan payment...I promise it's all legal because the Government wants you to have a home". (The law actually says that the government wants you to have a home you can afford) "The house is worth 100,000 but if you'll pay the $120K asking price we'll give you $20K credit as a down payment". In 2 years your interest rate will jump to 3%, and the year after to 5%, then 8%, then 12% but don't worry, house values are rising like crazy and you'll be able to refinance it for a fixed rate loan before that interest rate goes up or you can sell it for a huge profit." None of the above was legal when I was selling real estate, nor could I have promised the buyers they would be able to refinance, nor guarantee them their home value would go up. It was not legal for me as an agent, nor was it legal for the lender to do so. New home buyers have no clue of how it works and believe the lender and their agent is their friend and wants to help. My buyers and sellers trusted me to get a fair deal for them, but not to defraud either one. I went to closing with them, made sure the paperwork was correct, and questioned the things I or they weren't clear about. I had pre-qualified them so I knew what payment they could afford. I did a budget with them to make sure. That doesn't happen anymore with most deals, and in reality the recent buyers were misinformed, lied to, tricked and charged extra fees that were fraudulent. Many times buyers of color who had credit that qualified them for a good loan with lower down payment, were given sub-prime loans & higher down payments instead and never offered the decent loan, in fact were told they didn't qualify for a fixed rate loan. Three years ago I went to a Lender with my son's girlfriend when she was buying a house and listened to more garbage then I could believe from the lender as he tried to sell her a sub-prime loan that would virtually guarantee she would lose her home, and her $10K down payment in a few years. I took her out of there and to a credit union where we got her an FHA loan she could afford and had guidelines to prevent fraud. Deregulation has been a disaster for the homeowners the same way it has been for the everyone else and for the same reason. It allows people who are greedy and dishonest to take advantage of others for money. And even for my son's girlfriend the result of all these foreclosures and home values dropping means her modest $109K home, is now worth $79K and she couldn't sell it if she needed to move. Luckily she still has her job and can still afford the payment , but if she lost her job and needed to move somewhere else to work, she would be in a world of hurt unless she could rent it out for her payments. We the People did not intend to make this hell for ourselves, but if you trust others who make their living off of you, you'd best make sure they are constrained by laws to do it honestly. The dream of home ownership has been with us since soldiers returned from WWII, it has been part of the American experience. It is not the shame of the people who had that dream for their family but got cheated and lied to and had their dream stolen and their family devastated. The shame is that our government didn't do its job and stop the lawmakers who took big bucks to re-write the laws that freed the banks and Wall Street up to rob the country blind. Government and business should both be watched carefully and checked up on regularly to make sure they aren't selling us out for cold cash. They are like a dog, who can be your best friend, or your worst enemy if not trained properly and watched carefully.

Yes, there is a lot of

Yes, there is a lot of government corruption -- particularly in the bailouts. But WE the consumer must also must take responsibility for the 2008 financial crisis. WE bought houses at inflated prices that we could not afford. WE refinanced our houses and took out the equity -- destroying the savings that was suppose to come from home ownership. Government doesn't owe us bailouts. That would be grossly unfair to those who were prudent in purchasing houses. What government does owe is a fair taxation system built on the ability to pay -- that's a progressive tax rate with VERY few (if any) exemptions, deductions and credits. Equally important, dividends and capital gains should be taxed at the same rate (if not more) that wage income. Privilege is destroying America.

Folks, our houses and their

Folks, our houses and their worth, are being stolen from us. More accurately, being Pirated. And, millions of people are losing everything, getting seriously physically ill, and many are even dying because of these chronic foreclosures.

Who cares right? We are just faceless people after all.

Where the hell are Obama, the Dems, and Liz Warren while we are being screwed NOW!?!? Huh? I'd just like to know!

I have worked with scores of top F500 CEO's and Presidents for over thirty years, and seen their "Piracy" first-hand. This is my take on the big picture.

THE NEW AMERICAN PIRATES, ARE KILLING AMERICANS.

This is not about glamorized or fictional piracy. This is, “real piracy.”

Hundreds of our wealthiest leaders and most powerful corporations know that in the next few years, they will be able to siphon, skim, and steal, so much “NEW CASH,” that they and their progeny will be ultra-rich for generations to come.

No, this is not funny, or fiction, or a conspiracy, it is just simple greed and simple theft.
The new pirates of America have launched an all-out siege on us in order to capture, amass, and hold trillions of dollars for themselves.

All of the recent political power grabs and nonsensical debating is purely a slight-of-hand deflection. President Obama, Democrats, Republicans, the International Press, and even the Tea Party, are watching the tiny pea in the shell game…while the rich and powerful “Piratical Right” is stealing America right out from under us.

Consider that their combined total plunder from corporate flipping, downsizing, offshore labor, speculation, price fixing of oil and energy plus, corruption in defense, healthcare, banking, student loans, foreclosures, etc., etc., is a trillion dollar treasure for these pirates.
Go ahead, put your own calculator to it.

Are they smarter than we are? Yes, and they are laughing at us. I, we, you, and all of us, have not been able see the big picture of what is happening to our own country and to our own people. The rape and theft of America, has been cleverly packaged, promoted, and sold under the guise of “cost-cutting,” “deregulation,” and “free enterprise.”

The “Piratical Right” is directly responsible for millions of people dying, getting sick, losing their jobs and homes, losing their ability to fight, their spirit, and even losing their will to live. The sick smell of this carnage now permeates the air across America.

To us, this is all unimaginable, because we look for some sense or the morality of things. These modern-day American pirates however, have no moral compass. They are devoid of any conscience, humanity or soul, and are feeding on the flesh of the American people.

Don’t look to the President, the Senate, Congress, the press, or any political party to help. Sadly, they just don’t see it, don’t care, or are part of it. “We the people” are on our own. Start asking questions. Demand answers. If we don’t fight back America…who will?

History has taught us how to stop piracy.

V

Check out how the deal went

Check out how the deal went down by these low-life bankster thieves:

http://www.pbs.org/wgbh/pages/frontline/warning/

http://thinkprogress.org/economy/2011/11/29/377392/banks-illegally-forec...

Secret loans from the FED to banks! http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to... 13-billion-in-income.html

Educate yourselves:

http://www.truthdig.com/report/item/thirty_years_of_unleashed_greed_2011...

http://www.democracynow.org/2010/9/7/robert_scheer_on__the_great

Our own government caused the

Our own government caused the 2008 financial meltdown. Then it goes and spends our tax dollars to bail those crooked banksters out?

The team of Greenspan/Rubin/Summer/Geithner knew that Wall Street was gambling with our homes, jobs, lives and the entire world economy, and did nothing when CFTC head Brooksley Born dared to warn them.

http://www.pbs.org/wgbh/pages/frontline/warning/

On top of this travesty of justice, Obama still fails to regulate over the counter derivatives.

OWS is taking back our homes and doing what Reagan/Clinton/Bush/Obama failed to do.

Indeed, for the past 40 years

Indeed, for the past 40 years it has been the conservative lines have been that government is too big and isn't working, too many regulations etc. Then they set out to prove their thesis by doing everything to destroy government and do nothing to make it work. The result is our present finacial mess and the human misery it gave rise to. The task for us now is to work to end "bought government." All we have is our vote, diluted as it is by corporate control of the election process. I stand with OWS in their efforts to take control away from big money and restore something like real democracy. It's going to take a lot of work.

TEDDY ROENovember 30, 2011The

TEDDY ROENovember 30, 2011The segue of OccupyUSA into the home foreclosure issue is most timely. As noted in this article, cold weather is becoming a major factor for Occupy forces. It is also the perfect time to highlight the cruelty of forcing people out of their homes. Foreclosures are sad no matter where they occur but with most of the country affected by current or upcoming cold, Occupy groups can achieve synergy with each other by attacking this problem in unison.

All these foreclosed-upon

All these foreclosed-upon homes that are sitting vacant, lowering the value of neighbouring homes, should be undergoing rehabilitation for rental so that people could work, youth could get experience in trades training, and people would have the opportunity to rent and live in them. The banks should be funding this low-cost program, since they got bailed out when homeowners did not.

Why the occupy movement?

Why the occupy movement? Simple: Country's is heading for bankruptcy. There aren’t sufficient funds in Defense, Social Security, Medicare, Medicaid and Food Stamps and the pockets of the 99% to balance the budget. Nation is fighting two wars, the tag, $5-trillion; the trade imbalance approaches one-trillion/year; the Debt, 15-trillion; budget deficit, 1.5 trillion. Someone's got to put up the difference: The 99%--the poor and middle class—can't do it alone; they’ve already lost 7-trillion in equity during the home bubble and bust. The don’t-tax-the-rich aberration sworn to by Republicans leads to bankruptcy and is a job destroyer--like the 10-trillion dollars added to national debt and eight million jobs lost the past eleven years of Bush's tax cuts. Wall St is main beneficiary of the tax cuts. That's why people are sore.

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