Occupy Movement Occupies a Foreclosure Auction with Anti-Foreclosure Team

Just before 11 am today- November 8, 2011, members of the Worcester Anti-Foreclosure Team (WAFT), homeowners Pablo and Shirley Travieso and family, and members of Occupy Worcester lined up in front of the Traviesos' two-story house at 24 Illinois St., drowned out the voice of auctioneer John Baker by chanting loudly, and blocked his entry to the property. The 44 protesters held signs and their chants included "Bank of America/Bad for America", "Banks got Bailed Out/We got Sold Out", and "What does democracy look like?/This is what democracy looks like!" The auctioneer, John Baker, acting for Bank of New York Trust, trustee for a bundle of mortgages in which this one was included, gamely proceeded with the auction at 11am despite the noise, and as there were no other bidders, the bank took back the house for $79,900. (read more: http://occupyworcester.com/waftpr118 )



Foreclosure auction, underwater mortgage, bank of America, anti-foreclosure team, Worcester, occupy Worcester, occupy wall street, ows, dennis trainor jr, acronym, occupy foreclosure, banks got bailed out, we got sold out,

Category:

News & Politics

Tags:

• Foreclosure auction
• underwater mortgage
• bank of America
• anti-foreclosure team
• Worcester
• occupy Worcester
• occupy wall street
• ows
• dennis trainor jr
• acronym
• occupy foreclosure
• banks got bailed out
• we got sold out

[wethe99percent806]

Fractional Reserve Banking...in case we have forgotten, takes every deposit and multiplies it by 9 and makes loans for that amount, and voila, money created from nothing, yet if you default on your mortgage, the house is theirs and is an asset. Taken by the bank for money owed to them, they they just created out of thin air...why do you think the banks are only required to keep 10% of all deposits on hand? Research for yourself, don't take my word for it. How is there more debt than wealth?

[wethe99percent806]

@RegioLunar yes, you are correct, they have lowered the percentage. Big Poppa FED doesn't even have that ratio, which I am unaware what the exact figure would be, however, I would estimate 1% maybe. That percentage is generous if you take the fact that we have and estimated 16 trillion owed to the FED, as Americans. The FED also "loaned" at 0% interest 16 trillion to banks (foreign and domestic) between 2007 and 2010.

[endtheillusion]

$Trillions for the banks, out onto the streets for families.

Are you OK with that?

[SuperEvilC]

@SuperEvilC Please HELP!!

[SuperEvilC]

Mom's house + my house were both recently sold at a "TAX AUCTION". Both homes paid for free and clear for YEARS. One home has been in our family for over 3 decades. Due to the economic climate and both of us suffering from major depression we were unable to pull the money together for back taxes within their time frame. Two $90,000+ homes both sold for around $4,500 each. We have no real income and mom has no place to go. Once kicked out, I'll have to move into a mental health facility. :(

[TheSAMathematician]

They overextended themselves. They got a house that was too expensive. That is THEIR fault, not the fault of the banks. Everyone does not 'deserve' a house. I've been renting for the last 20 years.

[SpitfireOFatj]

@MrWizardWithin "You will eventually learn that your being played... yet again"

Don't tell me,...let me guess,....it's all a commie conspiracy run by the KGB,....and the Jews......

[SpitfireOFatj]

@MrWizardWithin "show me where on this planet in this day and age that a revolution has actually changed a fucking thing..."

It's made people like you come out of the woodwork to be laughed at.

[SpitfireOFatj]

@MrWizardWithin What I find funny is how the Right goes on about Zionist Conspiracies, calls every other race "savages", rallies around flag symbols and then claims Nazis were on the political Left.

[SpitfireOFatj]

@jbo5112 "People act like the bank did something illegal."

Well, der.....

[jbo5112]

The bank is under no obligation to renegotiate with household, but it is usually in the bank's interest, since the household can negotiate with a competing bank for business. People act like the bank did something illegal. I'm personally tired of paying the cost (in higher housing prices) of people who benefited from loan terms they couldn't really afford.