22 Foreclosure Activists Arrested at Chase Bank in Downtown Los Angeles - FDL

[WillyT]

22 Foreclosure Activists Arrested at Chase Bank in Downtown Los Angeles
By: David Dayen - FDL
Friday December 17, 2010 8:51 am

<snip>

...

Thanks to activist Judy Bronfman, I was able to get some pictures of the event, which I’ll place below. There’s also a report at the ACCE website, showing one of the people arrested to be an 85 year-old grandmother. The activists call themselves the Home Defender’s League. They’ve set a high bar for their demands, calling on the banks to lower principal on all loans to the current appraised value of the homes. The Home Defender’s League in California has antecedents all over the country.

The LA Weekly story on this highlights one family who was a victim of the insidious “dual-tracking” carried out by the servicers:

Peggy and Alvin Mears, of Fontana, never missed a mortgage payment. Now, Peggy’s been arrested. The couple was paying their monthly $1,299 fee towards a modification loan and were working to secure a permanent loan. They were horrified when lender OneWest (formerly IndyMac), decided to seize their three-bedroom home anyway.

Peggy and 21 other homeowners — including an 85-year-old woman — were arrested at Chase Bank near 4th and Hope Street about 1:30 pm today, taking to the streets in desperation.

“These banks are terrorists,” said Peggy, who is slated to lose her house three days before Christmas. “They terrorize us by threatening to take our homes.”

I really feel this is only going to get bigger as the weeks go on. The banks have basically disregarding all the legal constraints on their activities, and people have begun to fight back. I feel like there’s a desperation with the normal channels and a desire to take it to the streets.

Pictures below:

More: http://news.firedoglake.com/2010/12/17/22-foreclosure-activists-arrested-at-chase-bank-in-downtown-los-angeles/

:kick:

[Poboy]

1. Let the revolution begin!

[WillyT]

3. Seems Inevitable...

:shrug:

[Hannah Bell]

2. a link to their organizing page:

http://www.calorganize.org/

[WillyT]

5. Thank You For That !!!

:hi:

[phantom power]

4. People are beginning to realize that their govt isn't going to defend them.

Their govt has thrown its hat in with the banksters.

[WillyT]

8. Why Are We Surprised... Even Jesus Was Sold Out For 30 Pieces Of Silver...

:shrug:

[PhillySane]

6. Home Defender's League

Can we get info on where they are currently organized? I'd like to get involved.

[WillyT]

7. Go Here:

Link: http://www.homedefendersleague.org/

Don't know if they have affiliates outside of California, but you could contact them and find out.

:hi:

[PhillySane]

10. Thanks WillyT!

[Hannah Bell]

9. there was another thread with pictures -- anyone know where it went?

[PhillySane]

12. Here

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=25151&mesg_id=25151

[Hannah Bell]

16. thanks.

[DragonSlave]

11. Incentives???

Do banks really have an interest in kicking people out of their homes? It seems to me that they would be better off letting the people keep living there until they found a buyer...

[PhillySane]

14. More than likely

the properties are packaged into some sort of derivative and sold off for a quick infusion of cash. The incentive is $$$$, now!

[WillyT]

15. Plus... They Can Pick Up These Houses For A Song...

Turn us into a nation of renters working for the company store, as it were...

The property management industry is gonna SOAR !!!

:shrug:

[Starry Messenger]

13. k&r

[WillyT]

17. Kick !!!

:kick: