OWS spills into Occupy HOMES

[Diving Mullah]

As thousands of patriots around the nation get forced out of their occupations - they're setting up camp on the lawns of homes on the verge of foreclosure, to save the families from getting kicked out too. The coalition of activists spearheading this movement known as "Occupy Homes" have been successful in many cases. In California - Fannie Mae was forced to hold off on an eviction when patriots held a vigil outside the home.

In Minnesota - a woman is crediting the Occupy Homes movement for buying her critical time to move out before her home was foreclosed on. And in New York - the movement occupied a boiler room in an apartment building until the landlord agreed to provide adequate heating to the tenants living inside.

[FONT=Verdana, Geneva, Arial, Helvetica, sans-serif]From protecting foreclosure victims - to convincing people to move their money out of big banks and into small credit unions - to changing the dialogue in the media from the debt crisis to the jobs crisis - to getting even members of the Republican Party to talk about wealth inequality - the success of the Occupy movements so far have been substantial.[/FONT]

[FONT=Verdana, Geneva, Arial, Helvetica, sans-serif]+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++[/FONT]

[FONT=Verdana, Geneva, Arial, Helvetica, sans-serif]Is the kind of movement we should have had 4 years ago?[/FONT]

[FONT=Verdana, Geneva, Arial, Helvetica, sans-serif]Regardless of how you feel about OWS, you gotta hand it them. This leaderless movement has been very effective to redirect the attention to things that we should be talking about instead of OLD rhetoric of 3Gs (GOD, GAY and GUNS)

Diving Mullah[/FONT]

 

[Jryan]

Good for them...

 

[Mason66]

Don't any of these people have lives?

 

[Jryan]

Don't any of these people have lives?

That is the point, they can't find work therefore they protest the reasons why they can't find work.

 

[Harry Guerrilla]

So people who don't pay their mortgages, should be able to keep their houses?
Or are we arguing something else here?

 

[Jryan]

So people who don't pay their mortgages, should be able to keep their houses?
Or are we arguing something else here?

Wow, that completely ignores everything that is wrong with the system Harry Guerrilla.

 

[Harry Guerrilla]

Wow, that completely ignores everything that is wrong with the system Harry Guerrilla.

Some of these people did the wrong thing, like buying too much house, just like the banks.
We shouldn't excuse one, without knowing the intimate details behind their eviction.

 

[Jryan]

Some of these people did the wrong thing, like buying too much house, just like the banks.
We shouldn't excuse one, without knowing the intimate details behind their eviction.

A lot of these people bought homes they could afford and the bank arbitrarily increases their payment until they can't afford it. It is all $$$$ in the bank's eye.

 

[Harry Guerrilla]

A lot of these people bought homes they could afford and the bank arbitrarily increases their payment until they can't afford it. It is all $$$$ in the bank's eye.

The payment increases weren't arbitrary, those folks used adjustable rate mortgages and balloon payment mortgages.
A big, big no no if you're not nearly 100% sure you'll have the cash to cover it.

 

[Mason66]

That is the point, they can't find work therefore they protest the reasons why they can't find work.

So I would assume they are on unemployment right? Isn't it a requisite for unemployment that they have to be looking for work?

Who pays their bills, or will they just have a sit in when they are going to lose their house?

 

[1Perry]

Wow, that completely ignores everything that is wrong with the system Harry Guerrilla.

Please explain.

 

[1Perry]

A lot of these people bought homes they could afford and the bank arbitrarily increases their payment until they can't afford it. It is all $$$$ in the bank's eye.

I'm betting that you are unable to prove this, or at least no more than a rare exemption. Now I have argued that this is going to be a problem soon but it's certainly not now. Rates have not gone up. Just the opposite.

 

[Bodi]

As long as they don't start acting like a bunch of jerks starting riots like the morons of OWS are doing over and over...

 

[Bodi]

I'm betting that you are unable to prove this, or at least no more than a rare exemption. Now I have argued that this is going to be a problem soon but it's certainly not now. Rates have not gone up. Just the opposite.

I am not sure exactly what happened, but this is essentially what happened to my brother with variable rates or something... they had to just walk away earlier this year after the bank screwed them.

 

[1Perry]

I am not sure exactly what happened, but this is essentially what happened to my brother with variable rates or something... they had to just walk away earlier this year after the bank screwed them.

Well, this is convincing.

 

[ludahai]

A lot of these people bought homes they could afford and the bank arbitrarily increases their payment until they can't afford it. It is all $$$$ in the bank's eye.

Any evidence the increases were arbitrary??? If you have an ARM, rate increases occur and are not arbitrary. if they were, there would be a case against the bank as it would violate the terms of the ARM. I believe in most cases it is related to the Prime Rate and if it goes up, so does the interest on the mortgage.

 

[Diving Mullah]

Don't forget substantial number of foreclosure has been due to Robo-Signing, whether you did or didn't paid your mortgage, and before you could fight it people were evicted.

About a year ago, several of the nation’s biggest banks were caught in scandal over “robo-signing” — approving foreclosures without verifying basic information about the loan and fabricating documents to present to courts. For several months, a group of state attorneys general has been attempting to negotiate a settlement with the banks for their mortgage misdeeds.
However, those talks have broken down (as CAP warned they would), with the AG’s fracturing between those who want to craft a settlement quickly and those, like New York Attorney General Schneiderman, who want a deeper investigation into the banks’ activities. Meanwhile, as American Banker reported today, the banks have not stopped fabricating documentation in order to foreclose on borrowers:
Some of the largest mortgage servicers are still fabricating documents that should have been signed years ago and submitting them as evidence to foreclose on homeowners.
The practice continues nearly a year after the companies were caught cutting corners in the robo-signing scandal and about six months after the industry began negotiating a settlement with state attorneys general investigating loan-servicing abuses.
Several dozen documents reviewed by American Banker show that as recently as August some of the largest U.S. banks, including Bank of America Corp., Wells Fargo & Co., Ally Financial Inc., and OneWest Financial Inc., were essentially backdating paperwork necessary to support their right to foreclose.
In several instances, banks were signing over documents from lenders that no longer exist. For example, one Bank of America executive “signed a mortgage assignment on July 29 of this year that purported to transfer ownership of a mortgage from New Century Mortgage Corp. to a trustee, Deutsche Bank.” However, “New Century, a subprime lender, went bankrupt in 2007; and the Deutsche Bank trust that purported to hold the loan was created for a securitization completed in 2006 — about five years before Juarez signed it over to the trust.”
Goldman Sachs has reportedly agreed to “compensate some home loan borrowers for wrongful foreclosures,” as well as put an end to robo-signing. Given the way that the banks have handled the fallout from this scandal thus far, that is a promise that should definitely be taken with a grain of salt.

Diving Mullah

 

[Aunt Spiker]

That is the point, they can't find work therefore they protest the reasons why they can't find work.

I'm not employed yet I'm so busy I don't have time to bum around. I still have responsibilities and others rely on me being *here*

Adding: I've heard that some people quit their jobs to join the occupy movement - so not everyone is unemployed by pink slip via fault of the business failing (etc).

 

[conservativeguy]

The authorities need to break out the fire hoses. Even if they are unsuccessful blasting them off a property, the OWS squatters will get a long overdue bath.

If those OWS loonies really want to help, they can sell their assets and pay off the mortgages they don't like. How exactly will squatting help? All that does is slow the process and decrease the value of the property due to the added haz mat remediation costs.

 

[Aunt Spiker]

The authorities need to break out the fire hoses. Even if they are unsuccessful blasting them off a property, the OWS squatters will get a long overdue bath.

If those OWS loonies really want to help, they can sell their assets and pay off the mortgages they don't like. How exactly will squatting help? All that does is slow the process and decrease the value of the property due to the added haz mat remediation costs.

I know somewhere that they can get three hots and a cot. . .

 

[conservativeguy]

Any evidence the increases were arbitrary??? If you have an ARM, rate increases occur and are not arbitrary. if they were, there would be a case against the bank as it would violate the terms of the ARM. I believe in most cases it is related to the Prime Rate and if it goes up, so does the interest on the mortgage.

You don't get it. People are no longer expected to understand the agreements they sign when borrowing hundreds of thousands of dollars. Lot's of people now view paying off the principle balance of their mortgage as a goal, not an obligation. In this instance, they are trying to find an out based on Greedy Bankers playing around with the Prime or Libor rates. It's quite sad when I think about how fast the US is devolving.

 

[conservativeguy]

I know somewhere that they can get three hots and a cot. . .

Lock'em up. If for no other reason than they bore me.....and they appear to be quite stinky.

 

[1Perry]

You don't get it. People are no longer expected to understand the agreements they sign when borrowing hundreds of thousands of dollars. Lot's of people now view paying off the principle balance of their mortgage as a goal, not an obligation. In this instance, they are trying to find an out based on Greedy Bankers playing around with the Prime or Libor rates. It's quite sad when I think about how fast the US is devolving.

Nobody outside of a professional with many hours to spend can understand all the paperwork required to buy a home today. It should not be this complicated. I swear I must have signed 50 pages. Those 50 pages were with I do not know how many other pages.

 

[TheDemSocialist]

Good.. Occupy your home. Occupy the banks. Occupy everywhere!

 

[VanceMack]

Gotta love college students. Cant do ****...cant pay for ****...havent done ****...dont KNOW ****...but hey...Occupy your moms basement. Fight the power. But take out the trash first and if you are nice she will keep paying your cell phone bill and buying you video games.