Tag Archives: Foreclosure

Portland occupiers block foreclosure eviction

Another Portland Homeowner Stands Strong Against Modern Redlining

By Pete Shaw
Portland Occupier

July 28, 2012

Story and Photos by Pete Shaw

When the clock ticks past midnight into Saturday July 28th the Multnomah County Sheriff will be able to enforce an eviction notice issued by the Circuit Court of Multnomah County on the house of Annette Steele of 4022 NE 14th Avenue. But Steele, her family, her friends, and her neighbors are not planning on her going anywhere.

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Sweet Justice! Florida couple forecloses on Bank of America

By CBS News

Collier County, Florida — Have you heard the one about a homeowner foreclosing on a bank? Well, it has happened in Florida and involves a North Carolina based bank. Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff’s deputies foreclose on the bank.

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ForeclosureGate Deal – The Mandatory Cover Up

By Michael Collins

The Federal government is about to settle the ForeclosureGate affair, according to a report in the New York Times on April 9. The Times noted that twelve million homes will be lost by 2012. Home equity values are down by $5.6 trillion since the real estate crash.

The draft agreement released to American Banker shows another corporate-friendly deal designed to maintain the incumbent perpetrators at the expense of the people. (Image: zoonabar)

The proposed settlement culminates an effort by federal prosecutors to address strongly supported allegations of widespread mortgage fraud perpetrated on as many as sixty percent of current mortgage holders. Homeowners were sold mortgages, serviced for the loans, and, in some cases, subjected to foreclosure and eviction based on fictional contracts and collections practices that violate the most basic principles of contract law and specific federal code pertaining to fraudulent debt collection.
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The Peasants Need Pitchforks

By Robert Scheer
TruthDig

A “working class hero,” John Lennon told us in his song of that title, “is something to be/ Keep you doped with religion and sex and TV/ And you think you’re so clever and classless and free/ But you’re still fucking peasants as far as I can see.”

The delusion of a classless America in which opportunity is equally distributed is the most effective deception perpetrated by the moneyed elite that controls all the key levers of power in what passes for our democracy. It is a myth blown away by Nobel Prize winner Joseph E. Stiglitz in the current issue of Vanity Fair. In an article titled “Of the 1%, by the 1%, for the 1%” Stiglitz states that the top thin layer of the superwealthy controls 40 percent of all wealth in what is now the most sharply class-divided of all developed nations: “Americans have been watching protests against repressive regimes that concentrate massive wealth in the hands of an elite few. Yet, in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret.”

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Big Bank Smack Down – The Ibanez Case Ruling

By Numerian posted by Michael Collins


The Too Big To Fail banks have been waiting with trepidation for a ruling from the Supreme Judicial Court of the State of Massachusetts on the case titled US Bank National Association (as trustee) vs. Antonio Ibanez. They were right to be fearful. The state supreme court has ruled against the banks and upheld a lower court order that nullified foreclosures by US Bancorp and Wells Fargo, on the grounds that neither bank had the legal right under Massachusetts law to foreclose. Today’s ruling has far-reaching consequences for the banks and the housing market in general, as it throws into serious question the legal soundness of millions of mortgages in the US if, as expected, courts in other states come to similar conclusions as the Supreme Judicial Court of Massachusetts.
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Time for a New Theory of Money

By understanding that money is simply credit, we unleash it as a powerful tool for our communities

By Ellen Brown
Global Research

The reason our financial system has routinely gotten into trouble, with periodic waves of depression like the one we’re battling now, may be due to a flawed perception not just of the roles of banking and credit but of the nature of money itself. In our economic adolescence, we have regarded money as a “thing”—something independent of the relationship it facilitates. But today there is no gold or silver backing our money. Instead, it’s created by banks when they make loans (that includes Federal Reserve Notes or dollar bills, which are created by the Federal Reserve, a privately-owned banking corporation, and lent into the economy). Virtually all money today originates as credit, or debt, which is simply a legal agreement to pay in the future.

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The ‘wealth effect’ in reverse

By Ken McCarthy
Real Econ TV

When house prices were going to the moon, government hacks and financial news media hucksters crowed about the “wealth effect” of the booming real estate market. Home owners felt “rich” so they borrowed and spent more which stimulated the economy – building supplies, contractors, furniture and carpet sales, etc. It was just one big party.

But now that the boom is going into reverse, few talk about the “wealth destruction effect” of a stagnant and declining housing market.

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Little-Noticed Bill Could Make It Harder To Challenge Foreclosures

By Scot Paltrow
Reuters

Bank Foreclosure Cover Seen in Bill at Obama’s Desk

A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama’s signature after it quietly zoomed through the Senate last week.

The bill, passed without public debate in a way that even surprised its main sponsor, Republican Representative Robert Aderholt, requires courts to accept as valid document notarizations made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents.

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Without Living Wage, Job Security, Housing Collapse Will Be Permanent

By Shamus Cooke
Global Research

The recent chaos that erupted when 30,000 people waited hours in the Atlanta, Georgia heat to receive applications for subsidized housing is a mere symptom of a worsening national problem.  The housing market appears to be on a never-ending downward spiral, with the much-discussed “recovery” always around the next corner. The reasons that such a recovery is impossible at the moment should be obvious: millions of people do not have jobs; millions of others work only part time; millions more work fulltime but make very little money; and additional millions fear losing their jobs. Under these circumstances, there can be no recovery in the housing market, which will continue to contribute to the broader depression-like economy in the U.S. 
 
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Triumph of the Money Party

Image cc

Health Care Reform DOA. Why the Surprise?

They Did what they Always Do

Michael Collins

The Money Party is a small group of enterprises and individuals who have most of the money in this country. They use that money to make more money. Controlling who gets elected to public office is the key to more money for them and less for us September 30, 2007

Dr. Howard Dean, MD, just said pull the plug on the current health care reform effort. The cure is worse than the disease according to the good doctor.

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Jane and the Buzz Saw

israel-more-aid-than-africaBy Claudia Woodward-Rice

Blogger Jane Stillwater  ran into the DailyKos’ “Israel-happytalk-all-the-time” buzz saw recently with her satiric posting New foreclosure remedy: Become Jewish & move to Israel!

Now Mondoweiss reports that Jane Stillwater got booted from DailyKos for making fun of settlements and Jewish Voice for Peace writer Cecilie Surasky writes This isn’t the first time they’ve banned bloggers for writing about Israel and Palestine, but this surely is the dumbest case.”  

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