Wednesday, March 28, 2012

M26, 27: Occupy Fights Foreclosures LA Battles for Dirma


Maxim Properties have evicted the people in the upper unit in the back and placed "No Trespassing" signs, and called the police upon the Occupiers. They are attempting to outright bully Ingrid onto the street! See the end of this article.



LA Times does a story! On the inside of page 1!

An ugly foreclosure story, starring Bank of America


Dirma Rodriguez wonders how a house she'd been paying on for years, and which is specially modified for her severely disabled daughter, could be taken from her.,0,2707478.story


March 25/26:

Photo by deniZ:

Dirma's house

Occupy Fights Foreclosures Rallies for Ingrid and her home 

Occupy Fights Foreclosure Fighting to Save Defrauded Family’s Home

Matt Occupylosangeles Ward sums it up so well:

      "The big key is understanding that the banks have built a model that profits from tricking people into taking bad loans, screwing investors by selling those bad loans to them (bad loans offer high returns, and look good on paper), then taking out insurance policies that collect if the loan they just sold to sucker investors goes bad. Then when the loan explodes, they collected those insurance payouts which, when the insurance company (biggest was AIG) went out of business were backed by TARP bailout money footed by the U.S. taxpayer. They then evict the homeowner and collect a second set of huge insurance payouts (homeowners insurance pays out full value of home upon eviction, and this is setting aside all the equity money which is pure profit). When your neighbor gets evicted, your property value drops simply from the bad luck of being beside him. If enough neighbors get evicted, your house's value falls to a point it's no longer worth paying, you walk away, and now your house is part of the crisis too.

As the cycle continues, the all-consuming maw of the banks buys these houses backs, flips them into rental properties, and before you know it you've got a Corktown, MI story where the average home value is reduced to ~$14,000, or a mortgage payment of ~150/mo, yet 85% of residents are tenants and the average rent is ~450/mo. Why? Because the banks also have the power to grant the loans people need to own the homes, and have decided that no individuals and/or small investors can receive loans, even tiny ones like ~$10,000 mortgages. As a result, giant corporations and wealthy investors (many bank owned, and all bank-affiliated) are buying up massive tracts of housing that are suddenly affordable, with bank-provided competition elimination in the form of no small loans being granted, then flipping them into rentals and enslaving the former homeowners who can't even afford to move.

Do you see how the banks have figured out how to make this situation profitable at every step? I'm not even going to go into how, thanks to being part of the Federal Reserve (not government, privately owned, don't forget it) ownership team and most important in-crowd in the world, the banks have literally UNLIMITED money with which to buy up these homes, and the only person who loses as they do so is us, the taxpayer, AGAIN, because the more money that is printed to use to buy our homes out from under us, the less the dollar in our pocket becomes worth, a fact only relevant to those who do not have the power simply to crank up the presses more.

'We can promise money to pay any debt. What we cannot promise is its purchasing power.' - Alan Greenspan, while Chairman of the Federal Reserve.

The game is rigged, and we need some time to unrig it. That's all we're asking for, and it benefits every person who is not a bank, while still allowing them to remain profitable throughout (even though they don't deserve it)."


I am only a supporter of OFF LA; the information here is what I have gleaned through the above releases and what I have heard while being with OFF as they work. Any errors are errors.