Clippings 8/29 – 9/1

San Jose California’s “Effective Defense” To Hold Its First Home Owner Foreclosure Summit September 15, 2012 (PRWeb)

Occupy San Jose and the Green Party will host a Home Owner’s Foreclosure Summit at San Jose’s New Community of Faith Church to provide home owners who are facing foreclosure, or about to, with information presented by various panelist on what possible actions can be taken.

Woman’s home auctioned before her eyes (Cape Cod Online)

The best intentions and the vocal support of the local Occupy movement couldn’t stop Sandy Schaefer-Ung’s home from being auctioned on Wednesday — but the South Orleans woman still holds out hope that a lawsuit will let her keep her home… Schaefer-Ung said she would continue to live in the house. “I don’t regard it as over at all,” she said… “It’s going to go on for a very, long time…”

Report shows foreclosure settlement’s early reach (Chicago Tribune)

As of June 30, 5,268 Illinois homeowners have received more than $357 million in relief as a result of February’s settlement with the nation’s five largest mortgage servicers over shoddy foreclosure practices, according to a report released Wednesday by the independent monitor of the settlement…

Nationally, the servicers — Bank of America, CitiMortgage, Ally Financial, JPMorgan Chase and Wells Fargo — reported that they granted $10.56 billion of relief to 137,846 borrowers between March 1 and June 30.

San Bernardino Eminent Domain Fight Closely Watched By Other Struggling Communities (Huffington Post)

Recent modest increases in home prices have done little to help the estimated 16 million underwater homeowners nationwide, who, according to the real estate valuation website Zillow, collectively owe $1.2 trillion more than their homes are worth.

Attorney General Kamala D. Harris Announces Final Components of California Homeowner Bill of Rights Pass Legislature (RealEstateRama )

On Governor Brown’s desk is Assembly Bill 2610 by Assemblymember Nancy Skinner, D-Berkeley, which will require purchasers of foreclosed homes to give tenants at least 90 days before starting eviction proceedings. If the tenant has a fixed-term lease, the new owner must honor the lease unless the owner demonstrates that certain exceptions intended to prevent fraudulent leases apply.

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