PRESS RELEASE: Occupy, Homeowners, Activists Rally at CA State Capitol, Demand Accountability

PRESS RELEASE
IMMEDIATE RELEASE

Contact Carlos Marroquin (323) 592-4663

Occupy Movement National Gathering come to CA State Capitol, Homeowners and Activists Rally and March to Demand Accountability and Help for Struggling Homeowners

What:

1) To pressure Gov. Brown to give back the money he took from the National Mortgage Settlement -- $18 billion -- in an attempt to balance the state budget.

2) To insist that Keep Your Home California adjust their rules to allow more people to qualify for this program.

3) To speak with the head of Kamala Harris' Mortgage Fraud Strike Force to call them to account for their dismal record of prosecutions and waste of taxpayers' money. There will be a rally at 11:00 am on the steps of the Capital. Then the group will march from the State Capital building to Kamala Harris' Sacramento office.

4) To demand accountability of all the mortgage fraud investigations and settlements.

Homeowners fighting foreclosure or who've been defrauded by foreclosure and their supporters will be attending.

When: 

Occupy National Gathering 2014 July 31- August 3rd - Rally and March set for August 1st @ 11AM

 

HOMEOWNERS RALLY AGAINST FORECLOSURES AT CALIFORNIA STATE CAPITOL FRIDAY AUGUST 1ST

“Foreclosure Fraud Destroys Lives,” declares Occupy Fights Foreclosures

SACRAMENTO, CA – On Friday, August 1st at 11:00 AM, homeowners and supporters from the Los Angeles area will join the Occupy National Gathering for a rally and march at the California State Capitol, protesting the government’s lack of support for homeowners during the foreclosure crisis.

Occupy Fights Foreclosures has called for a day of action against the foreclosure frauds that continue to escape prosecution, the billion dollars in Keep Your Home California funds which have not been distributed to homeowners in need, The $410 million in National Mortgage Settlement funds that Governor Brown borrowed to balance the state budget off the backs of struggling homeowners and the failure and accountability of Attorney General Kamala Harris Mortgage Fraud Task Force with annual budget of $2.8 Million that has produce only 10 prosecutions since its birth.

At the opening rally, Occupy Fights Foreclosures will issue a letter to Governor Brown requesting that he give back the money he borrowed from the National Mortgage Settlement—$18 billion —to “balance” the state budget. This settlement money was expressly intended to compensate homeowners defrauded of their homes, and to help homeowners working desperately to save their homes. Instead, this money was used to balance a budget shortfall due to the economic collapse caused by the very banks involved in the settlement!

The second purpose of Friday’s day of action is to insist that Keep Your Home California adjust their rules to allow more people to qualify for this program. In 2010, California, as one of the states most severely affected by mortgage and foreclosure fraud, received $2 billion from the federal government to help defrauded families keep their homes. As of August 2013, the program had used only $400 million. Homeowners are desperate for help. The remaining billion needs to be immediately directed to help more homeowners save their homes.

1) Pressure Gov. Brown to give back ($410M) the money he took from the National Mortgage Settlement -- $18 billion -- in an attempt to balance the state budget.

This settlement money was expressly intended to compensate homeowners defrauded of their homes, and to help homeowners working desperately to save their homes. The money was used instead to balance a budget shortfall due to the economic collapse caused by the very banks involved in the settlement.

2) Insist that Keep Your Home California adjust their rules to allow more people to qualify for this program.

In 2010, California -- one of the states most severely affected by mortgage and foreclosure fraud -- received $2 billion from the federal government to help defrauded families keep their homes. As of August 2013, the program had used only $400 million. Homeowners are desperate for help -- the remaining billion needs to be immediately directed to help more homeowners save their homes.

3) Speak with the head of Kamala Harris' Mortgage Fraud Strike Force to call them to account for their dismal record of prosecutions and waste of taxpayers' money.

The CA Mortgage Fraud Strike Force within the DOJ has managed to file only 10 lawsuits against foreclosure consultant scams since it was established three years ago. It has prosecuted ZERO banks for predatory lending or mortgage origination fraud -- the original fraud that caused the economic crisis and set up homeowners to lose their homes.

  • This task force has 25 attorneys and has had an annual budget of $2.45 million in fiscal year 2011-12, and $2.63 million in 2012-13, according to public records. This is a wealth of resources compared to county district attorneys' offices.

  • The largest amount of restitution a foreclosure consultant was ordered to pay was a mere $475,000.

  • Some of the cases for which Harris's office has claimed credit, were spearheaded by other law enforcement agencies.

  • In contrast, Los Angeles County last year prosecuted 103 cases involving over 250 defendants and a total aggregate loss of over $80 million -- about one-third of these cases involved loan modification scams. In other words, LA County took down about 30 foreclosure consultants last year alone.

  • California is the home base for more scam artists than any other state. Yet, Harris' strike force has prosecuted fewer foreclosure consultant fraud cases than attorneys general in many other states with fewer resources.

  • This strike force has failed. Its ineptness or corruption is entirely unacceptable.

The rally will continue in the afternoon at the offices of California Attorney General Kamala Harris, protesting the dismal record of prosecutions and waste of taxpayers' money by the Mortgage Fraud Strike Force. Despite a staff of 25 attorneys and an annual budget of $2.45 million in fiscal year 2011-12 and $2.63 million in 2012-13, this task force has managed to file only 10 lawsuits and prosecutions against foreclosure consultant scams since it was established three years ago. The CA Mortgage Fraud Strike Force has prosecuted ZERO banks for predatory lending or mortgage origination fraud, thereby completely ignoring the original fraud that caused the economic crisis and set up homeowners to lose their homes. Attorney General Kamala Harris has allowed an industry of fraud to flourish. The ineptness or corruption of this strike force is entirely unacceptable.

4) There has been countless of investigations on the mortgage/foreclosure crisis with record number of settlements with the banks and zero accountability.

A call to “Protect Our Homes!” We believe “Homes are for Families, not Banks!” and “Bailout Families, Not Banks!”

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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.