Foreclosure Notes 2/21/13 – 2/24/13

LIBOR: Viewing the biggest financial crime in world history from California (Darwin Bond-Graham Essay)

Last year government investigations into this globe-spanning crime – rightly called the biggest financial scam in all of history – led to multi-billion dollar fines against Barclays, the Royal Bank of Scotland, and UBS…

California is fast emerging as a center of investigation and litigation into the LIBOR-fixing conspiracy. California is the largest single municipal debt market in the United States, and one of the largest in the world. Last year alone the state of California and its cities, counties, school districts, and other public entities issued $65.7 billion in total public debt.

Zombie Titles More Horrifying Than Home Foreclosure (Young Turks)

(Youtube Video via Cent Uygur / Young Turks)

House sitting & the daily work of home defense (We Are Oregon)

One of the critical ways that community members stabilize and secure homes and fight against eviction is through house sitting inside of the homes that are actively in the eviction process. Housing justice supporter Claire Flanagan puts it this way, “House sitting is one way that I participate in home defense. I know that when I’m doing a shift I’m not just sitting on a couch, I’m supporting a family and I’m saying that the community should decide who lives in this house, not the banks.”

…House sitting is crucial but simple – there is furniture, wireless internet, and power. It is recommended that you bring snacks, water, blankets or whatever you might need to be comfortable. If you are new to house sitting we will give you a briefing and explanation of all the details before you do a shift, don’t worry, we will help you feel prepared.

Despite Aid, Borrowers Still Face Foreclosure (NY Times)

When Danette Rivera, a 38-year-old single mother, received a letter from Bank of America in July alerting her that it was forgiving her second mortgage of about $115,000, she said she was elated. Ms. Rivera said she thought the assistance would save the home in Queens she shares with her two children.

But that hope, she said, was dashed when she learned a month later that Bank of America was foreclosing on her because of her troubled first mortgage. “This house means everything to my family and I am terrified we are going to be homeless again,” Ms. Rivera said.

The 17 Cities With The Highest Foreclosure Rates In America (Business Insider)

In Stockton, California, 1 in every 277 homes received a foreclosure filing in January 2013. #5 in nation behind Rockford, Illinois, and Orlando, Miami and Ocala in Florida.

Detroit Anti-Eviction Campaign Keeping Families in Their Homes: Community groups and Occupy Detroit using “any means necessary” to save homes from foreclosure (The Real News)

(Includes Video & Transcript)

By filling the dumpster with leaves and using their bodies to block the movers, Colors and his supporters succeeded in blocking the eviction. They then held rallies and marches and successfully pressured Bank of America to refinance the mortgage. Colors has now become a leader in the anti-eviction movement and chaired a recent meeting where many facing eviction come to seek community support…

Dwight says at least 20 homes have been saved from foreclosure in the past year.

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