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PROCECUTE THE BANK: Problems with the new settlement

This New York Times article, "Suprise, Surprise: The Banks Win" brings up all of the problems that were talked about at the last OFF meeting:

1. That people were the victims of crimes by the banks that foreclosed
2. That most homeowners didn't know about the review of 2009-2010 foreclosures
3. That the reviews were done by consultants hired by the banks
4. That the settlement lets banks escape prosecution for their crimes
5. That the settlement will put only a fraction of the money homeowners are entitled to in their pockets.

Compare the paltry $2000 per homeowner payout with the amounts regulators said they were due:
"This is a far cry from the possible penalties outlined last year by the federal regulators requiring these reviews. For instance, regulators said that if a bank had foreclosed while a borrower was making payments under a loan modification, it might have to pay $15,000 and rescind the foreclosure. And if it couldn’t be rescinded because the house had been sold, the bank could have had to pay the borrower $125,000 and any accrued equity."


(source: NYTimes.com) the below is an archival copy for fair use:

IF you were hoping that things might be different in 2013 — you know, that bankers would be held responsible for bad behavior or that the government might actually assist troubled homeowners — you can forget it. A settlement reportedly in the works with big banks will soon end a review into foreclosure abuses, and it means more of the same: no accountability for financial institutions and little help for borrowers.

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CJ Holmes: Online Stream Workshop LIVE

http://new.livestream.com/accounts/2292674/events/1752571
Non-OFF foreclosure activist, CJ Holmes is currently streaming her online anti-foreclosure workshop live & free at the URL above. Take a look!

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Occupy the Rose Parade 2013 LIVE

Live RecordingPress Release | Action Schedule | Chats | Slideshow | Featured Articles

Special Thanks to all footage from Crepes777, PMBeers, and OrangeCrew

Parading

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[Press Release] 2013: OCCUPY OUR HOMES - IT’S NOT ALL ROSES FOR THE BANKSTERS' VICTIMS

WHO: Occupy Fights Foreclosures Activists, Southern California Homeowners
WHEN: Tuesday, January 1st, 2013
WHERE: 2013 Rose Parade, Pasadena, CA., Occupiers and Participants will be meeting at Singer Park 250 West California Blvd. Pasadena, CA. starting at 6am
WHY: To shed light on the continuing abuses by major banks who fraudulently foreclose on thousands of homes, breaking up families and destroying the economy.
WHAT: Occupy Fights Foreclosures will be presenting an unofficial float: “Occupy Our Homes, It’s Not All Roses For the Banksters Victims.” Homeowners will march the parade route with large banners, umbrellas, Fraudclosure Wagon (float) and 10' Monopoli Banker

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Foreclosure 101: Change the Conversation

Before you blame the homeowner... Look at the banks’ fraud! Here's a list of Myth Breakers:

People bought too much home.
Banks over-appraised homes and gutted underwriting rules so they could write big, high-rate loans that made the banks the most money on Wall Street.”

These people are deadbeats and freeloaders.”
Banks told families they had to stop paying their mortgage to qualify for a loan modification. Banks pretend to do loan mods—after a default, banks get insurance money and they start to foreclose behind the families’ backs.”

People should know what they sign.”
Banks used pressure tactics to get docs signed fast. Banks changed documents after they’d been signed—they even used white-out and tore out key pages such as a co-signer.”

People need to take personal responsibility for their finances.”
Banks need to take personal responsibility for their system-wide felony fraud.” “Banks need to compensate families for the millions of homes they've stolen.”

Homeowners just want a free house.”
Banks want millions of free houses so they can resell them and restart their casino.” “Banks need the houses back to clear the fraud on their books and redo lost paperwork.”

Homeowners used their house as an ATM.”
Banks used the American people’s homes as their trillion dollar ATM.”

Download and print this list as a PDF file (90 KB)

99% of foreclosures were questionable, 84% had clear violations of law, and over 66% had four or more violations in a recent audit by the San Francisco County Assessor-Recorder’s office

Seriously, did you really think American People were going to let banks get away with this? That is why we call nation-wide foreclosure moratorium and thorough investigation of each case!

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Fraudclosure 101: Mortgage & Foreclosure Fraud

A brief timeline of mortgage and foreclosure fraud in 3 stages(EndMiddle, Beginning). It explains how banks used fraud as a business model to guarantee record profits and steal a nation’s worth of homes (This list is partial. There’s more fraud than can be listed here, but you get the idea.) 

End Fraud

DUAL-TRACKING Fraud: Banks tell homeowners to default to qualify for a loan modification, but use that default to start foreclosure

LOST-PAPERWORK Fraud: Banks repeatedly “lose” loan mod paperwork to delay homeowner until banks get insurance payout for default

PILE-ON-FEES Fraud: Banks add extra fees onto mortgage payments that homeowners can’t pay to keep foreclosure continuing

FAKE-DOCUMENTS Fraud: Banks hire “document mills” to fabricate completely fake loan documents so foreclosures appear legal

ROBO-SIGNING Fraud: Banks robo-signed fraudulent documents, creating sweatshop-style signing factories

MAIL Fraud: Banks backdate documents, eliminate dates on mail stamps, and falsify serving of legal paperwork

AUCTION Fraud: Banks “sell” properties at auction whose chain of title is broken and that banks have no legal claim to

SELL-TO-THEMSELVES Fraud: Banks sell properties to themselves—a scam called self assignment

TITLE Fraud: Title insurance companies have been giving title insurance to properties whose chain of title is broken 

CASH-FOR-KEYS Scam: Banks intimidate homeowners, ignore due process, time evictions over holidays and offer bribes just to give up

COURT Fraud: Courts regularly dismiss fraud cases, attorneys refuse to take cases or pressure families to leave their home

Middle Fraud

WALL STREET GAMBLING Scam: Banks immediately sold mortgage notes to Wall St, who used them to create Mortgage Backed Securities (MBS) -- Wall St used these essentially as casino chips to trade, sell and bet with other people’s money. They kept profits when they won, and got bailout and insurance money when they lost.

RATINGS Fraud: Banks got ratings agencies to give AAA, investment-grade ratings to MBS and other financial products filled with toxic loans

RECORDING Fraud: Banks created MERS (Mortgage Electronic Registration System) to evade laws that require all sales to be publicly recorded, and to cheat communities out of millions in fees

CHAIN-OF-TITLE Fraud: With MERS, banks threw out 400 years of property law and broke the chain of title on millions of properties — ALL neighboring properties will now need to litigate to decide property boundaries if there’s ever a dispute

SECURITIES Fraud: Banks knew the securities they were selling were toxic, but lied so they could unload toxic securities onto pension plans (Goldman Sachs called unsuspecting clients “muppets”)

INSURANCE Fraud: The financial industry created unregulated insurance called credit default swaps (CDS) to “insure” the bad financial products they were buying and selling

DERIVATIVES Scam: Banks used derivatives — also unregulated — to bet against the bad financial products they’d just sold to pension plans. They bet that products they’d just sold would fail, knowing that they would.

Beginning Fraud

PREDATORY LENDING Fraud: Banks targeted homes and borrowers who would fit the types of high-rate loans banks needed for their scheme to work. Every communty was hit, but communities of color were hit especially hard

APPRAISAL Fraud: Banks leaned on appraisers to hike up appraisals so a home that was really worth $100,000 was soon appraised for $200,000. Banks kept blacklists of appraisers who refused to go along

TRUTH-IN-LENDING Fraud: Banks purposely pushed bad, high-rate loans even when borrowers qualified for better loans

ORIGINATION Fraud: Banks wrote up false financial statements for borrowers to meet the loan profiles needed for the scheme. Lenders (not borrowers) put the “lie” in liars loans

GOTTA-SIGN-NOW Fraud: Banks used high-pressure tactics to push borrowers to sign immediately, before borrowers could read or check documents

LOSE-THE-DOCS Fraud: Banks lost or shredded legal documents, so there wouldn’t be evidence to prove fraud later

MONEY-OUT-OF-THIN-AIR Scam: Banks don’t have the money to loan to begin with. The money is created out of thin air once the loan is made

Download and print this list as a PDF file (90 KB)

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Casa Corona Call to Action

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Interview with Sole Corona on Christmas Day 2012 in Lincoln Heights

Interviewed on December 25th, 2012

by OOCAnaheim

UPDATE 2012-12-28: Casa Corona's Facebook page has been launched this week! Don't miss it! Subscribe to get our latest update right on your wall feed! 
https://www.facebook.com/OccupyCasaCorona

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Fort Hernandez Can Get Evicted Today

The bank told the Hernandez family that the eviction at Ft. Hernandez by Sheriff was set for today December 24th, 2012. Yes, potential eviction is happening on Christmas Eve. People at Fort Hernandez would like legal observes, regular observers to witness. Although it isn't our official action, our members want to stand in solidarity with Fort Hernandez, located at 14620 Leadwell St. Van Nuys, CA 91405

UPDATE: They're having Posadas @ FuerzaHernandez on Dec. 24 at 10AM ~ Dec.25 at 3AM PST

The following communication is from Fort Hernandez Facebook page:

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Occupy takes back home after Bank of America breached their Holiday promise

WHO: Occupy Fights Foreclosures Activists, Soledad Corona (single mom), Lincoln Heights Community
WHEN: Sunday December 23, 2012 at 5PM
WHERE: 2200 Daly Ave, Los Angeles, CA 90031
WHY: Bank of America Breaks Promise of "NO EVICTIONS AND FORECLOSURES DURING HOLIDAYS", evicts single mom on Dec. 14 and refuses to talk with representatives from Occupy LA, Occupy Fights Foreclosures
WHAT: Soledad Corona is joined by members of Occupy LA to take back her home as a protest of Bank of America wrongful eviction
Contact: Carlos Marroquin (323) 592-4663

Occupy breaks locks takes back home in response to Bank of America breaching their promise to not evict families during the holidays

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Why stay home when you can save a home?
Occupy Fights Foreclosures, affiliated with OccupyLA, stands up against the nationwide foreclosure crisis. We support, educate and empower homeowners at risk to save their homes from fraudulent foreclosure.