Clippings 7/15 – 7/18

California County Weighs Drastic Plan to Aid Homeowners (New York Times)

… where foreclosures have become more common than neighborhood cookouts… officials in San Bernardino County … are exploring a drastic option — using eminent domain to buy up mortgages for homes that are underwater.

Noe Valley faces evictions – and denial (San Francisco Chronicle)

Seventy homes in the 94131 and 94114 ZIP codes, encompassing Noe Valley, Glen Park and Diamond Heights, are in foreclosure, according to a tracking service.

“We were stunned when we got the list,” said Susan McDonough, an organizer with Occupy Noe (yes, you read that right), a neighborhood group that formed this year, initially trying to prevent Galves’ eviction.

Home Defenders League (Home Defenders League)

The Home Defenders League is a national movement of underwater homeowners and our allies fighting Wall Street to get back the wealth, equity, and future they stole from us.

How to Get People to Go After Bankers and Financiers and Stop Attacking Public Employees (Alternet)

We have a very simple demand. Every mortgage should be reset to current market value.

Los Angeles sues U.S. Bancorp, calls bank a slumlord (Yahoo News)

Los Angeles has sued U.S. Bancorp, accusing … the fifth-largest U.S. commercial bank of … blighting the city by allowing hundreds of foreclosed homes to fall into disrepair… U.S. Bank has “disregarded virtually every one of its legal duties and responsibilities as owner… resulting in illegal evictions of hundreds of tenants from the second most-populous U.S. city.

CSET to hold foreclosure prevention workshop (Central Valley Business Times)

According to CoreLogic, in the Visalia-Porterville area ((Tulare County, CA)) 42.7 percent of all residential properties had a mortgage higher than the value of the home in the first quarter of 2011.

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