Clippings Aug 1st – Aug 9th

Germantown foreclosure battle the focus of ‘Occupy Fannie Mae’ protest (Newsworks)

“They told me I need $150,000 to settle a $30,000 loan,” she said, claiming that after the sheriff’s sale, the house listed online as being worth $42,000. “They have spent more money fighting me to take my property away than the loan is even worth.”


Minnesota’s Occupy Homes organizer Anthony Newby will go to trial this Monday, August 6th St Paul,MN
(Democratic Underground)

Occupy Homes organizer Anthony Newby will go to trial this Monday, August 6th… This trial is part of an aggressive prosecution against Occupy Homes. It comes in the midst of pre-trial proceedings for many of the 37 supporters who were arrested defending the Cruz family home this spring…

Lenders look for alternatives to repossessing homes (USA Today)

The number of homes that received an initial notice of default — first step in the foreclosure process — was 6% higher in July than last year… But of late, banks have been dialing back home repossessions and increasingly letting borrowers sell homes in a short sale.

Michigan Millionaire Buys 650 Foreclosed Homes at Auction (Chicagoist)

A recent auction of foreclosed homes in Macomb County, Michigan was a clean sweep for millionaire Bill McMachen. The businessman snapped up every tax-foreclosed property on the county’s docket to the tune of $4.8 million…

Video: Block Party — Liberated House Reclaimed Take Back The Land Event — Portland 8.5.12 (Greycoast)

A block party celebration for the liberated house of Alica’s and the liberation of the land that was taken from her due to predatory loans and scummy bankers. A celebration in the street, with music food and speeches. The ‘surprise’ is announced that the house next door [built on Alicas land] is becoming a “community center” FOR THE PEOPLE.

Mortgage relief plan embraced in Berkeley has links to Occupy (California Watch)

The Berkeley City Council has thrown its support behind a growing group of activists, public officials and entrepreneurs calling upon governments to seize mortgages to provide relief to financially troubled homeowners…

“I don’t think we could be doing this without Occupy,” said anti-Wall Street activist Susan Harman, who’s been proposing Sauvante’s plan to officials in Alameda County, San Bernardino County and elsewhere. “It’s just catapulted the whole issue into the public consciousness.”

In First, Consumer Agency Charges Law Firm with Duping Homeowners (Blog of LegalTimes)

The Consumer Financial Protection Bureau has filed its first ever civil enforcement action in federal court, charging a Los Angeles law firm of duping distressed homeowners into paying high upfront fees with false promises of a loan modification.

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