Clippings, May 6th – 11th

Look Who’s Pushing Homeowners Off the Foreclosure Cliff (Bloomberg)

Lenders have been imposing exorbitant insurance policies on homeowners whose regular coverage lapses or is deemed insufficient. The policies, standard homeowner’s insurance or extra coverage for wind damage, say, for Florida residents, typically cost five to 10 times what owners were previously paying, tipping many into foreclosure.

An Ugly Foreclosure Story Turns Uglier as Bank of America Attempts High-Pressure Tactics on Family with Severely Disabled Daughter (Occupy Fights Foreclosures)

“High-pressure tactics are a classic way banks and other predatory groups trick families into doing things they normally wouldn’t do.” Continues OKeeffe, “We’re here to turn the tables on them and give them a taste of their own medicine.”

Monique White May Win Back Foreclosed Home With Occupy’s Help (Huffington Post)

It took US Bank a matter of days to come up with a principal reduction that allowed White to pay $686.36 a month to stay in her home… If the modification is finalized — White believes she will know within days — Occupy Homes Minnesota activist Nick Espinosa said it will be a milestone.

“It does show that when we shine a light on these cases and bring them to the public eye, that the bank is more than capable of negotiating — even though they’ve said all along that that is not their responsibility,” he said.

Huge Protests at BofA Shareholder Meeting Today. Pay Packages Approved, Proposals Defeated. (Daily Kos)

((CEO)) Moynihan defends exec pay, says most is performance linked and aligned with shareholder interests.

Underwater California homeowners to get more help (SF Chronicle)

the state-run Keep Your Home California program will use federal money to reduce an eligible homeowner’s mortgage balance by up to $100,000 without requiring a matching reduction by the bank servicing the loan…

To apply for the program, call (888) 954-5337.

Occupy Atlanta fails to prevent south DeKalb eviction (Champion)

Christine Frazer sat in a dining room chair in her driveway with a lifetime of belongings strewn across the yard of the south DeKalb home where she has lived for the past 18 years.

“We anticipated Occupy Atlanta being there so we prepared for it in number as well in the time,” said Sgt. Adrion Bell…

Welcome home Alicia (Socialist Worker)

IN A beautifully executed community reclamation, Alicia Jackson was moved back into her home on May Day in Portland, Ore.

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