California Statewide Moratorium on Home Foreclosures Rally and March
Posted 12 years ago on June 24, 2012, 4:59 a.m. EST by OccupyWallSt
For more info, see RallyForHomes.com
Thousands will be marching on the California State Capitol in in Sacramento on June 25th to ask the Legislature and governor to impose an immediate three-year foreclosure moratorium for California. Family Friendly-children encouraged to participate! We encourage everyone to make signs and banners that tell how foreclosure has affected you.
10 AM
RALLY on the Capitol grounds. Speakers include homeowners, activists, union leaders, clergy, and others. Guest MC/musician: Michelle Shocked, Singer (Occupy Fights Foreclosure Activist).
11 AM
MARCH in downtown Sacramento. Route to be announced.
1 PM
LOBBYING TEACH-IN AND LOBBYING. We will lobby legislators and the Governor to stop the hemorrhaging of California home ownership.
TEACH-INS will be held throughout the afternoon.
————————————————–
The banks are foreclosing on families while at the same time promising loan modifications. We cannot trust the banks to do the right thing. The governor, attorney-general and Legislature must become involved. The San Francisco County Recorder’s Office has audited a sampling of foreclosures and found that 84 percent involved one or more clear violations – proof of illegal foreclosures is housed in recorder’s offices in every county.
We must halt foreclosures with a moratorium to allow for an audit of ALL home loan and foreclosure records. NO MORE THROWING FAMILIES OUT OF THEIR HOMES. We also demand investigation and prosecution of those who unfairly took advantage of homeowners. We call for cooperation between county recorder’s offices, district attorneys and the state to track down all those who illegally profited from stealing the homes of thousands of families, putting many more in precarious situations and wrecking the U.S. economy for years, if not decades to come.
- Are you in foreclosure? Know someone in foreclosure?
- Angry about predatory lending and dual tracking?
- Angry about how the banks have sucked up our money and stolen our homes?
- Angry about their refusal to reduce homeowner debt to current values instead of foreclosing and selling to “investors” for even less?
- Angry about how the banks are killing the proposed California Homeowner Bill of Rights legislation?
- Want to ask your state assembly member and senator why?
STOP FORECLOSURE FRAUD! DO NOT ALLOW THE BANKS TO STEAL YOUR HOME! COME OUT TO SHOW YOUR RESISTANCE TO THE BANKS! DEMAND THE GOVERNOR AND LEGISLATURE IMPOSE AN IMMEDIATE FORECLOSURE MORATORIUM TO STOP THE BLEEDING!
How about living within your means, saving up, and paying off your mortgage so you don't get foreclosed on or lose anything else.
Well the bubble created super expensive houses. People could not afford to save up as housing prices reached astronomical highs. The banksters marketed these houses telling people that if they didn't buy now, they would be priced out and if they did buy, the value of their house would double within a very few short years. The bankers knew it was a ponzi scheme, but those purchasing houses could not conceive of a white collar criminal class that was now running the country.
The criminal 1% banksters who created the housing bubble didn't live with THEIR means. We had to bail them out. You ain't complaining about that. I guess you support those criminals over your fellow hard working Americans. Those 1% wall st banksters crashed the world economy, Created massive unemployment, and lost 40% of our home value. I think that is why we have these foreclosure problems. Lets hold the 1% banksters responsible. No? Your not with that.? You got yours?. your ok.? Selfish, greedy, blame the victim republican plant. Trader to your class. Tool of the 1%.
Not only did we bail the banks out, but the CEOs of those banks were never prosecuted for their crimes. They signed deals without the Goverment looking at their documents. They got to keep all their ill gotten gains -- the millions they were paid as they perpetrated their scams and their own mega mansions.
And, A year after the crash they created, those same execs got millions in bonuses and raises! In 2010 the 1% sucked up 93% of the wealth created that year. If we don't get control of these blood suckers who steal the wealth of the people then sit on it there will be violent revolution. They need to get smart!
If we stop borrowing and we stop paying, we will have control. They will come begging.
Our politicians are in bed with them and they are them. They are not going to change the laws to help us out. They have no incentive to do so and every incentive to not help the people.
You are right. Pols are owned by Corp 1%. But the people can overturn that structure. And we must try (w/o violence 1st) Stop borrowing is a great idea. Moving money/mtg from big banks to small Credit unions also a good idea. Boycotting is great. voting for progressive policies! protesting/pressuring all pols to pass progressive policies. Agitate, Agitate, Agitate!
I personally know only tow people being foreclosed on. One borrowed on his home twice to prop up a failing business, the other is a builder that walked away from a home where he owed more then he could sell it for.
There may be circumstances faced by some individuals where foreclosure is due to some tragic situation, but still you freely sign an agreement, it's only right to expect you to honor it.
Most Americans cannot wrap their arms around the biggest ponzi scheme in the history of the world.
Your typical average Joe is no match for predatory lenders who marketed homes and mortgages to people they knew could not afford them. They needed sub prime borrowers (as opposed to people who could afford homes) because these were the loans that were bundled into investment vehicles (CDOs) that were sold to investors who then invested the working mans 401ks in them.
Why did they do it? Offer loans to people who they knew couldn't pay? The banks did it, because they made billions on the sale of CDOs. It was the perfect scam and when it fell apart, the Government gave the banks the tax payer dollars as a bail out. And not a single one of these white collar scamsters has gone to jail.
Sorry I simply don't have any sympathy for a person that never had the ability to repay a loan loosing a house he or she never should have purchased in the first place.
What about those who did have the ability to pay who purchased homes whose values have been cut in half as a result of the scam. Do you have sympathy for these people?
I personally do not have a morgage nor do I understand why anyone would want one under any circumstances. If you can't buy the house outright, you can't afford it. Just rent. It is so much cheaper.
The value of a home on paper isn't relevant if you can afford the mortgage you took out. The market at some point will recover and come back.
Ownership is something most americans seem to want in spite of the fact that it makes more economic sense to rent as you do.
A rising housing market is not an entitlement program. Boo-hoo, they levered up, bought something speculating on further price increases, and prices went down instead. Tears. More tears.
Adult time. When you buy something with borrowed money, you amplify the impact of price changes on your net worth. You can use margin in the stock market and you can mortgage real estate. If prices go up, you're a winner, if prices go down, you're a loser (and a whiner). The more you borrow, the more you magnify your outcome. Complicated, huh? You can't go through life being as stupid as you'd like.
Yeah! blame the victim. F%$K 'em. I got mine, they must have done something to deserve it. Who cares that the criminal 1% banksters crashed the world economy creating massive unemployment and lost 40% of home values all over the country. They hell with those hard working American families being foreclosed on by the same banksters who created the housing bubble. F%$K 'em!
I don't see all people facing foreclosure as being victims. Most signed an agreement knowingly and should face the results of their decisions.
I believe you are referring to the old-fashioned bank gives person mortgage deal. This isn't what happened. The housing bubble was a ponzi scheme planned and executed by the banks with the collusion of the ratings companies who gave high ratings to the investment vehicles the loans were bundled into. No more banker and home owner. Now we have investment banker, home owner, ratings company and securities investors. Only the home owner knew nothing about finances or scams. The average home owner is no match for the financial industry scamers and scams.
None of that matters to an individual that took out a mortgage, if he did his due diligence and understood the terms and could afford them. There are many people underwater that can still afford to make the payments they agreed to. For them none of this matters.
The way banks dealt with risky loans, trading them as commodities has no bearing on the consumer that took out a loan he could afford. I do think the banks never should have been bailed out, but compounding that error by bailing out individuals that made bad mortgage deals isn't an answer.
I don't think individuals should be bailed out on their mortgages either. They should simply walk away. Get on with life. They owe nothing to the criminals that scammed them.
Some have, especially the ones that bought to speculate. Those that never should have been approved in the first place have little choice in the matter.
Not everyone. No. Of course those good hard working American homeowners who signed mortgages during those few years when the criminal 1%'rs were perpetrating this scam upon the American people ARE victims. Not even everyone who signed mtgs during the scam years either. Some were developers who knew better. But too many were duped. Were given subprime loans when they qualified for better rates. Were foreclosed with robo signed docs and other improper procedures. Many are foreclosed by banks who do not even hold the deed.! And all suffer with the 40% loss of home value that the bankster created crash gave us. And many struggle now with the unemployment that the same banker created crash left us. I stand with the good honest hard working American homeowner. You stand with the criminal 1% banksters?
The robo signed documents have nothing to do with people that took out mortgages, that's an inappropriate method of speeding up the foreclosure process and where caught has helped delay foreclosure.
Any individual taking out a mortgage bears some responsibility for the terms. No one forced anyone to sign a loan agreement. People signing ARMs or loans with large balloon payment were foolish.
As for the loss of value on homes. That's something all home owners are stuck with and if you were able to afford your home in the first place that loss on paper isn't relevant. If you were investing or trying to flip homes you gambled and lost. If you were buying to live there and could afford the payments it doesn't matter what the listed value is.
But the criminal 1% banksters still crashed the world economy. Right? Your not pretending that didn't happen are you? They did lose that 40% home value. You kinda admitted that. Maybe most people managed, but it still isn't ok is it?. Since it was 1% banksters reckless irresponsible behavior that created that loss they should make good on it. We call that justice. And that would've prevented many foreclosures. And the great recession the banks created also gave us an unemployment crises going on 4 years. That is responsible for many people missing mortgage payments. Banks are responsible for that also. You can blame the good honest hard working American homeowner victims who lost their homes and life savings. I will blame the 1% criminals who crashed the world economy and got away with the loot. Ridiculous.
Foreclosures have very little to do with the bankers. No hard working American homeowner willing and able to pay his or her mortgage you will get foreclosed on. Someone unable to meet an obligation they have agreed to should lose the collateral for that loan.
You're looking for a way to punish banks or bankers, fine, but I feel it's wrong to do that by rewarding irresponsible individuals. It's rewarding that behavior and telling the much larger majority of homeowners they were the fools for only buying what they could afford and actually paying their mortgage.
"foreclosures have very little to do with bankers" LMFAO. Please! You continue to excuse your banker friends. Banks actions created the loss value and the unemployment. I stand with good honest hard working Americans. You stand with the 1% criminals who took our money.
The majority of loans are paid back, the only people being foreclosed on are those that never should have been given the money in the first place. The banker is totally out of the equation once the homeowner has failed to keep his end of the bargain. You want to punish the banks by rewarding irresponsible borrowing and that simply isn't right in my view.
"never should have been given the money". I agree many people were victimized by the banks negligence when they were A) given subprime loans when they qualified for lower rates, and B) were approved (by banksters) for loans they couldn't afford. Banks committed these reckless crimes because they knew they could get rid of the bad loans by bundling them in some kinda Cr Default Swap scam. That way the bank doesn't risk anything. Only the good honest hard working American homeowner gets hurt. The banks were irresponsible. We rewarded them with bailouts and now some people actually make excuses for the crimes they committed against the american people. Lets punish the banks irresponsibility. You don't complain about that why?
The initial article was about foreclosures and the responsibility there rests more with the homeowner then with the bank. I was against any bailout of the banks, believing they should fail just as I believe a homeowner that took out a mortgage he or she couldn't afford should be foreclosed on.
You keep using the phrase "hardworking American homeowner". The majority of them aren't being hurt. Most look at the terms of a loan and avoid getting in too deep. It's the person that doesn't understand their own financial situation, or through their own personal greed bought a home they couldn't afford that's facing foreclosure. They created their own problem. Bail outs were wrong for the banks they remain wrong for individuals.
"person doesn't understand" Ok. But the smartest people in the room (bankers, lawyers, mtg officers, real estate proffesionals) they knew better right.? In fact they are supposed to know better right? They knew and loaned the money anyway because they knew they could avoid any risk by bundling it, passing it off as some cds scam, and in the end get bailed out by the taxpayer. The only people hurt were the good honest, hard working American homeowner who lost there home and life savings. You stand with the con artists who got away with the loot.
I stand against bailing out individuals (or banks for that matter) who made foolish decisions. Anyone borrowing should have the ability to look at their income and the amount of money due on their mortgage each month and make a determination of their own ability to repay. That has nothing to do with bankers, the onus is on the consumer.
Punish the 1% criminal bankers that crashed the world economy, lost 40% of our home value, created an unemployment crises going on 4 years. Period. take their money and give it to all the good honest hard working American homeowners that those 1% bankster scam artists robbed.
Half way correct - reinstate home owners who lost their homes due to loss of work caused by failed business due to the economic meltdown. Reimburse idiot home buyers that had no chance to pay a mortgage and the maintenance and care of a home. Restore lost businesses due to the meltdown - perhaps by integrating them into a series of public works programs. This should be funded by criminal prosecution of the economic criminals - the ending of subsidies and tax breaks for successful profit making businesses, ending tax breaks for the wealthy.
Punish them all you wish. Charge them for whatever crimes you can document. If you wish to go after them for immoral rather then illegal acts you'll have to do it with regulation. When you do you should do it in a way that doesn't reward the same greedy behavior of the individuals that thoughtlessly took out loans they couldn't afford. Foreclosed homes make up a minority of the housing market. Homeowners that couldn't afford their mortgage shouldn't get an undeserved windfall.
And YOU stand with the Obama administration that let them get away with it, VQkag2.
no sir. I protest against drone assassinations, guantanamo, NDAA, patriot act/illegal wiretaps. Anti protesting laws. I protest for prosecution of 1% bankers, for forgiving of middle class debt. The difference between you and I perhaps is that I recognize that all these problems have their roots in right wing policies and the only way out is a strong progressive agenda.
[Removed]
You cannot silence me with threats and name calling. I know better than you! Vote out right wing pro 1% pols (dem and repub) Vote in progressives.
Oh, you'll be silenced alright... And not for disagreement but for deception. And not by being shadow-banned but by having your ass kicked. You are an agent of the 1% and a traitor to the rest of us, and for that you WILL be held to account.
Pres Obama has only begun the long process of undoing what your republican 1% tools have created. He is delayed because of your republicans obstruction and over use of filibuster. It will take years. We must vote out right wing pols and elect progressives. It's the only way.
Obama has not begun shit. His first term has essentially been Bush's third. I am no Republican. YOU are an obvious Obamapologist, and YOU need to get the fuck out of this forum.
[Removed]
people can be fooled out of their money
When that happens they are going to have to accept the loss and try not to be fooled again.
silly monkeys
Go back asleep little sheeple Baaaaaaa
predatory banking should be done away with, and it would have if we didnt bail them out, for shame for shame on Obama!
[Removed]
People bought too much house..... Somehow, somewhere , we came up with this idea that everyone deserves a house. Folks signed away their lives, did not read the fine print, even though some magical fairies were supposed to tell them what the fine print said and got in over their heads. There has to be some personal responsibility here.....my question is that if people are not foreclosed on...do they get to live scott free for three years in their homes while the audit goes on?
What boggles my mind is why people continue to pay these high mortgages on houses that have lost much of their value as a result of a ponzi scam by the banks.
I also don't understand why there is a big effort to keep people in homes they cannot afford. Why not encourage them to stop paying and when they are foreclosed on, to move to affordable housing.
The criminal 1% banksters who created the housing bubble weren't responsible. You ain't complaining about that. I guess you support those criminals over your fellow hard working Americans. Those 1% wall st banksters crashed the world economy, Created massive unemployment, and lost 40% of our home value. I think that is why we have these foreclosure problesm. Lets hold the 1% banksters responsible. No? Your not with that.? You got yours?. your ok.? Selfish, greedy, blame the victim republican plant. Trader to your class. Tool of the 1%.
To reply to your post...I left home at 13. My mom was a drug addict. I lived on the streets for three years, got an apartment at 16..well a room and held two jobs while trying to graduate. Went to college...know what? It sucked having to serve rich kids food in the cafeteria...it grinded me how they had it all. Now I got a credit card my first year.17 years old going on 18 with a credit card and a 2,000 limit. I could have ran that sucker up...banks had no business giving a kid a credit card... I wanted what others had... No I held myself responsible and paid cash..do I have mine? Yes..but as for greedy and selfish I have spent my life in education as a coach and mentor. I give plenty and yes I wanted this house that I qualified for it cost 250000 and I hated myself when I bought tge 130000 house that oh my God needed help 15 years ago.. My mortgage is 650 which means that if I get fired..I can scrape by. As for a trader to my class...I have been poor as hell and I am probably strong middle class..but to answer your rant ..I earned everything in my life with my two hands and I never trusted anyone enough to take advantage of me. I have made sensible decisions..only a pinhead trades is a paid off car for a status symbol..no one forces anyone to use credit cards..and if u travel the world You'll figure out you don't need a mamansion. Blame the banks..yup they forced people to sign...
Whos ranting.? Well your story sounds great. Not really relevant. But congrats. I struggled also. Doesn't really change the fact that the 1% criminal bankers crashed the world economy. Are you deaf? Were you blind? They created the great recession. the worst economic crash in 80 years! An unemployment crises going on 4 years. THEY lost 40% of home value. Your quaint story does not change these facts. You have not disputed these facts. You have ignored the banks reckless irresponsible actions. Why would I blame the good honest hard working American homeowners who lost their homes and life savings as a result of these banks negligence and greed. How can I pretend that the 1% banksters who created this misery have taken our taxpayer bail outs, and increased their profits, exec salaries and bonuses. Are you kidding.? What kind of heartless ignorant 1% apologist would blame the victim and excuse the people who got away with the loot. Ridiculous! Don't bother me again with this nonsense.! You are dismissed!
You are the one who is ridiculous...I am laughing because while the banks are corrupt....most of us here are the 1 percent when you look at what we have compared to the world. We created the greed. We fed these machines. We supported every and still support every company that takes our money elsewhere. When b of a destroyed people I moved the mortgage and my Money to a small bank.. I am done bothering you... Go spend..go charge and travel.. Talk to people overseas and read..they blame the banks And they are horrific but we jumped in due to greed. And as for my quaint story idiot ..many of our students have tge same story but thank God they know to look at themselves.hopefully their generation can start a movement that puts financial pressure on these criminals not just attack others. We can't stop supporting these folks..so thanks you are dismissed..go shopping
I have never had mtg/cr card problems. I also want to move my mtg to cr union. I recognize the culpability of the American consumer in this system. And I acknowledge that even American poor is not somalia poor and do better than much of the planet. Wonderful. We agree. But if the subject is the foreclosure crises I won't excuse the 1% criminal banksters before I recognize that THEY victimized the good honest hard working American people! NEVER. When we deal with the banks crimes and make these homeowners whole again, we can remind all Americans about financial responsibility. I do not support punishing the victims who already lost their homes and life savings while the scam artists get away with the loot. I do not spend and travel. No vacations. Donate what I can and Protest for the 99%.
[Removed]
If you don't pay then it's not you're house.
Banks don't even hold the deed properly. The banks forclose without proper process. They created the housing bubble. They crashed the world economy, created massive unemployment and lost 40% of our home value. WE had to bail them out! Why should they get the house.? You side with the bankers over your fellow hard working Americans.?
By that reasoning, if you can't provide a chain of title that you own the deed of trust, then you should not be able to foreclose on that property.
http://www.nytimes.com/2012/02/16/business/california-audit-finds-broad-irregularities-in-foreclosures.html
The home becomes yours once you've paid for it. Complicated, I know.
Notice how no one is ever angry at THEMSELVES for the things they signed and the things they recklessly bought with borrowed money.
Maybe they should organize a life skills rally instead. If you're going to go through life that stupid, after foreclosure, it'll just be some other tragedy you'll trip into 5 years from now (or less). Ignorance makes for a bad life plan.
The criminal 1% banksters who created the housing bubble were reckless and irresponsible. You ain't complaining about that. I guess you support those criminals over your fellow hard working Americans. Those 1% wall st banksters crashed the world economy, Created massive unemployment, and lost 40% of our home value. I think that is why we have these foreclosure problesm. Lets hold the 1% banksters responsible. No? Your not with that.? You got yours?. your ok.? Selfish, greedy, blame the victim republican plant. Trader to your class. Tool of the 1%. Maybe you should stop blaming the victims and take a human compassion class. LOL
The BANK becomes yours once you've proved that you can run it without needing to be bailed out. Complicated, I know.
Notice how no BANK is ever angry at THEMSELVES for the bad mortgages they signed and recklessly lent out with borrowed money.
Maybe they should organize a BUSINESS skills rally instead. If you're going to go through life that stupid, after going BANKRUPT, it'll just be some other tragedy you'll trip into 5 years from now (or less). Ignorance makes for a bad BUSINESS plan.
Amen! Sing it!
Bottom line, the TBTF need to dissapear, and people in general need to pull their heads out of their asses.
It does? Please give me an example. I know the FDIC, for example, will take over a failed bank or a failed bank will be lined up for take-over, but I've never heard of one simply then belonging to just random people or those that borrowed from the bank. Please, do tell.
Sure, banks are angry at themselves when they make bad loans. Shareholders aren't too happy either. See how long you're asked to stick around a bank if you have bad judgement on credit.
They do put a lot of effort into business skills. Try getting a job there with your education and level of understanding.
Hold a rally some time where they teach life skills. If you're going to lever-up to buy something, it might not work out. If it doesn't work out, you don't just keep to walk away with what you bought with the borrowed money. An ever rising housing market to make leveraged bets work out was never a new entitlement program. I don't know where loons like you heard that it was.
Far and away most of us understand these basics and for some strange reason don't find ourselves in foreclosure. 1/3 of us don't even have mortgages. For the liberal "mind", this must be utterly confusing. LOL. I guess it's just random.
Yeah only some people were caught up in the scam these criminal bankers perpetrated on us. But we all struggle with the worldwide economic crash they created, The massive unemployment they created, the 40% home value we lost. The banks were reckless! The banks were irresponsible! They were ignorant and went bankrupt, They needed and got the bail out. We got sold out. You ignore these realities because you are just a republican plant who spews 1% drivel for your puppet masters.
[Removed]
confiscation of property is always a gain
Occupy City Heights of San Diego us pursuing fighting these foreclosures