Clippings 6-25 – 6-29

BofA Returns Foreclosed Home To Dirma Rodriguez And Disabled Daughter (Huffington Post)

Bank of America has bought the home back from the investor who’d bought it in foreclosure, and is going to work with the Rodriguez family so they can stay in the home.
“We found that the documents showed that the sale was void,” Suzanne O’Keeffe, a writer and Occupy Fights ForeclosureF activist, told KCAL-9 “They didn’t do the procedures right.”

Investors buy nearly half of Oakland’s foreclosed homes (Bay Citizen)

According to a report released today by the Urban Strategies Council, a nonprofit think tank, real estate investors have purchased — usually with cash — 42 percent of the 10,508 homes in Oakland that went into foreclosure between January 2007 and October 2011.

Homeowner Bill of Rights plans move forward (San Francisco Chronicle)

On Wednesday, despite opposition from large banks and title companies, housing advocates moved a step closer to passing a Homeowner Bill of Rights that they say would help people like Bombola trying to stave off foreclosures.

Occupy Homes protesters charged with rioting (City Pages)

Several Occupy protesters have been charged with rioting for their demonstrations at the Cruz family home… Nick Espinosa… was charged yesterday with third-degree riot (a gross misdemeanor), interfering with a peace officer, trespassing, disorderly conduct, and presence at unlawful assembly.

Legislature must pass Homeowners Bill of Rights (San Jose Mercury News)

It’s been four years since consumer advocates began pressing the California Legislature to protect homeowners facing foreclosure. Every year, the banks have beaten back those attempts. It looks like this year, consumers might finally win…

Sen. Ron Calderon (D, Montebello), who has often bowed to the banking industry, was the key vote in the conference committee.

We all stand to benefit by simplifying refinancing (White House)

President Obama wants to help millions of responsible homeowners save hundreds of dollars each month by refinancing their mortgages… The President’s proposal would establish a quick and hassle-free process for homeowners who are current on their mortgage payments and want to refinance — no more tax forms, and no more appraisals — just a lower interest rate, and lower payments each month… President Obama’s refinancing proposal requires Congress to act, and until they do, millions of families will be prevented from refinancing and saving hundreds of dollars each month.

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