Occupy Wall St. Joins Fight Against Foreclosures

Black activists leading the struggle against foreclosures welcomes OWS to their communities

Category:

News & Politics

Tags:

• OWS
• Occupy Wall St.
• forclosure
• Foreclosure
• Street
• eviction
• homeless
• Wall Street

[blunt1984]

A parallel movement that gets even less attention from the media is the autonomous Occupy Everything groups.

These people are occupying dilapidated buildings and lots all over the country, turning them into public parks and community centers.

Of course the storm troopers usually come break it up and arrest people after a few days, but it makes a huge statement!

It makes no sense to let properties remain unused just so a bank can wait 20 years for their prices to go back up to make a profit!

[doodofdoods]

@LeathermanFan2

It was predatory lending packaged under the guise of helping the poor. Obviously it didn't help, and regardless of any good intentions could never have worked for anyone but the scumbags who contrived the sub prime credit default swap scheme. The left and the right work well together when it comes to screwing over the public, particularly the poor and middle class.

[kbpfive]

I AM A SINGLE MOM WITH FIVE CHILDREN AND AT RISK OF FORECLOSURE, ITS WRONG IT SHOULDN'T HAPPEN AND WE NEED TO FIGHT THIS!!!!!!.... PEOPLE PURCHASING HOMES SHOULD AVOID FORECLOSURES AT ALL COSTS BECAUSE YOU NEVER KNOW IT COULD BE YOU ONE DAY. BANKS DONT CARE THEY DONT WANT TO HELP REGARDLESS OF YOUR POSITION AND HOW MUCH YOU MIGHT BE STRUGGLING. MY MORTGAGE IS ALMOST $4K A MONTH AND THE BANK WONT BUDGE ON RE MODIFICATION.

[kd1s]

What the banks are doing is holding on to the properties in the hopes that the market rebounds. I have some sad news for them, it's not going to happen anytime soon. And you can only hold a non-performing asset on the books for so long before auditors get antsy.

[dreaminglucidly139]

Force the banks to help people in danger of foreclosure. Pass the losses on to the absurd bonus packages and the investors, who were also bailed out and would have NOTHING without the bailouts.

[Samalabear]

@ridewave444 I agree. Absolutely adorable and smart. And to think that it's little girls like these that Newt thinks should be put to work cleaning toilets because, well, they're surrounded by people who don't work and have no worth ethic. Being poor does not equal stupidity or lack of ethics, work or otherwise. On the other hand, the so-called masters of the universe -- have you ever heard them speak? The word genius doesn't come to mind.

[LibertyDownUnder]

@dreaminglucidly139, I agree with about bank bailouts & rating agencies, so please stop repeating it.

You're just giving me slogans. If you have a realistic solution that doesn't involve giving millions of people, selected by politicians, a free house - let then me know.

Till then you can't simply decide that the banks have to ignore late payments, and pass on the losses to someone else.

[xsilvertigerx]

Didn't over 90% of the home the government bailout by cut their payments and lowering their interest rate still went into foreclosure a year later?

Do you want the government to just give you the house?

I own a house. I still need to pay 8 more years to pay it off. If you can stop paying your loan why can't I stop paying? Why can't all of the people around the US?

[dreaminglucidly139]

@LibertyDownUnder In a just world the large banks would be forced to renegotiate mortgages or offer some form of help. They were rescued by the taxpayers. Now they are going to foreclose on those same taxpayers? The rating agencies should also be paying into a foreclosure prevention fund after their corrupt AAA ratings convinced people that the loans and packaged financial products were as safe as treasury bonds. I cannot understand why anyone pays the slightest attention to S&P's ratings now