Sharp Rise In Foreclosures Prompts Outrage, Actions Across California

According to RealtyTrac, a foreclosure listing firm, August saw a 33% jump from July in the number of initial mortgage default notices filed nationwide. It was a surprising increase and the highest jump since the housing bubble burst four years ago. Bank of America initiated the most foreclosures, hitting homeowners in California the hardest with a 96% increase across the state from the previous month. The Sacramento Bee reports that around 2,420 default notices were filed in Sacramento County in August alone, 670 of those by Bank of America. A BofA spokeswoman told the Sacramento Bee the increase has long been expected. She said the slow-down in activity over the last year was mainly due to reviews of processes in the wake of the robo-signing scandal. Banks are signaling they believe they have cleaned-up their act and are ready to resume shedding distressed homeowners from their books. As a response to this, a statewide coalition named "Refund California," has formed as a means, "to make Wall Street banks pay for destroying jobs and neighborhoods with their greedy, irresponsible and predatory business practices." The group is organizing events across California in order to express their complaints at Wall Street. Next week Refund California will initiate several actions in Los Angeles. Next Tuesday and Wednesday, protestors will visit a Wall Street executive's house to demand, "Its time for Wall Street Banks to Pay." Following that, on Thursday, this group will be conducting a march in Los Angeles comprised of over 1000 homeowners.

Uprising host Sonali Kolhatkar spoke on September 29, 2011 with Johno Shaffer, organizer with Refund California, and Rose Gudiel, home healthcare worker and homeowner who has been foreclosed on by One West Bank and Fannie Mae. She currently faces eviction by the LA Sherriff's Department

There will be a week of action in Los Angeles from October 3-6, including "home visits" to Bank executives, culminating with a major event on October 6th, at 11:30 am at the California Plaza, 350 S. Grand Avenue, LA.

Visit www.makebankspaycalifornia.org or call 213-863-4548 for more information about the events and to get involved.

Martina Steiner recorded this interview

Category:

News & Politics

Tags:

• Johno Shaffer
• Rose Gudiel
• Foreclosures
• Refund California
• Sonali Kolhatkar
• Martina Steiner
• Uprising
• KPFK
• Pacifica

[onebad78ta]

I have also dealt with one west bank and there absolute criminal home modification program,,,,after it was obvious they were only interested in stealing my house instead of working with me,,,I had no choice other than to pay for a house I am now held prisoner by,,,,,I cant sell it,cant refinance because of debt to income ratio,,,,,but if I can pay my bills every month tell me why I couldnt afford a lower payment.SCREW THE BANKS AND WALL STRETT,,,,,GO 99%,,,,,,signed prisoner of mortgage

[TakingMyhome]

We are one of the soon to be evicted people. We have filed a lawsuit but after a 2 years of waiting and a preliminary ruling against us it looks like we will never even see a judge. We expect to be out of our home and our life savings by Christmas. All for a home that is not underwater. Bank of America is taking our assets too. B of A you greedy Ba#$#rd's. I have 60 recorded calls to B Of A leading nowhere.

[ivypossum]

At last We the People are stirring, the Sleeping Giant may actually waken and take back Our country from the Rich Banker --Looters who have maneuvered and used the system to get many of our hard earned homes.  Good for Rose Mary! There are more of us than there are of them, for all the money they have.