Occupy LA Anniversary Goes to Foreclosure Mill Responsible for Looting and Pillaging of American Homeowners
WHO: Occupy Fights Foreclosures / Occupy Los Angeles
WHAT: Kickoff Action for OLA Anniversary Goes to Foreclosure Mill Responsible for Looting and Pillaging of American Homeowners
WHEN: Friday, Sept 28, 2012 2:00 PM
WHERE: Due to the sensitive nature of this action we are asking all media to stage at 450 N Lake Ave, Pasadena. The target location will be revealed minutes before action begins
OCCUPY LA’S OCCUPY FIGHTS FORECLOSURES GOES TO FORECLOSURE MILL RESPONSIBLE FOR TAKING THE HOMES OF THOUSANDS OF CALIFORNIANS
Fraud has been the business model from beginning to end
PASADENA — On the weekend of the Occupy LA anniversary, Occupy Fights Foreclosures, a subcommittee of Occupy LA, shines light on the business model of fraud used by the financial industry that devastated the economy and the lives of millions of Californians who are now struggling to keep their homes. Homeowners and activists gather to illustrate the timeline of frauds that start before a homeowner signs on the dotted line and continue through the lockouts and evictions following fraudulent foreclosures.
Almost all foreclosures have been found to have suspicious documentation or legal violations according to February’s audit by the San Francisco County Assessor-Recorders office. The newly-signed California Homeowners Bill of Rights does give homeowners a fighting chance against the fraudulent practices. But right now, homeowners are without those protections. In LA County alone, there are almost 8,000 active foreclosures with over 32,000 expected by the end of the year when the law goes into effect. If nothing is done, in less than 100 days, over 32,000 families in LA County will lose a house that they would keep starting January 1 — that’s about 65 families every business hour.
“How does it make any sense that any homeowner would lose their home today, when they wouldn’t on January 1st?,” says Carlos Marroquin, homeowner advocate with Occupy Fights Foreclosures. “On top of all the fraud that came to light at the beginning of this crisis, new companies have appeared precisely to take advantage of the disaster created by the banks. It’s an entire cycle of looting and pillaging.”
“What kind of a society would defend institutions that have used fraud as a business model while throw to the street a 93-year-old widow who’s owned her home for 60 years?” says Suzanne O’Keeffe, writer, filmmaker and Occupy Fights Foreclosures activist. “Any system that allows this to happen is inhumane. The laws must change.”
Contact: Carlos Marroquin 323-592-4663
Suzanne O’Keeffe 310-467-2947
statistics from ForeclosureRadar, CoreLogic and RealtyTrac