Foreclosure Notes 4/4/13 – 4/8/13

Only 151 homes for sale in Oakland, down from 797 a year ago (SF Business Times)

Oakland had the biggest drop in inventory of any city… But the flip side of the scarcity — the total inventory of homes for sale across the country fell 21 percent — is that prices have been pushed up.

Critics question investment fund’s Sacramento rental venture (Sacramento Bee)

Blackstone arrived in Sacramento in August and began sweeping up properties through an entity it named THR California. It wasn’t long before local investors started grousing about the Wall Street behemoth outbidding them in foreclosure auctions on the courthouse steps, one of several methods Blackstone uses to acquire homes.

The firm went on a buying spree in the past eight months, acquiring more than 1,200 houses across the Sacramento region for an estimated $200 million.

The Eviction Free Zone (Youtube Video: Occupy Homes MN)

In South Minneapolis, eight families have declared their community an Eviction Free Zone…

“We hereby declare our community a Foreclosure and Eviction Free Zone. We will not leave our homes until the following demands are met…”

Knock-knock: Anti-eviction rallies come to Spain MPs’ doorsteps (RT.com)

Spanish protesters, seeking to stop a wave of evictions, are now knocking on politicians’ doors. They’re standing up against the harshness of the mortgage law in the recession-hit country.

Protesters gather at the porches of lawmakers or at their workplaces, dressed appropriately to convey their message and holding signs with their demands…

Also

Inspired by Latin American human rights campaigns from the 1990s, the “escraches” – Argentine slang for denunciation – have involved protesters posting flyers and shouting slogans on the doorsteps of a number of politicians over the past fortnight.

GAO Report on Independent Foreclosure Reviews Exposes OCC, Fed’ Plan to Deliberately Minimize Evidence of Borrower Harm (Naked Capitalism)

…the regulators were definitely part of the story here, and once you get through the government audit-ese, you can begin to see the picture of how they conspired to ensure the reviews would offer little to no value, and indeed attempt to exonerate the banks. The ensuing calamity only shows how the scheme worked too well, burying any evidence of borrower harm among an avalanche of deliberately cracked design….

Banks are not complying with mortgage settlement, survey finds (LA Times)

Banks aren’t living up to pledges they made in last year’s landmark government settlement of mortgage servicing and foreclosure abuses, according to an advocacy group’s survey of California housing counselors and lawyers.

The California Reinvestment Coalition, which lobbies for low-income Californians, said banks continue to pursue foreclosures against borrowers seeking loan modifications – a practice they had sworn off – and have been ineffective at providing well-informed employees to help troubled borrowers one-on-one.

Monica, 70 years old and sick with Alzheimer’s, will be evicted without a single euro (Acampadasol)

Global Revolution @GlobalRevLive 5h
BREAKING: #Madrid #MonicaSequeda eviction BLOCKED by citizens
after multiple arrests of defenders… http://fb.me/ObKrzGfq

((google translated from Spanish…))

Monica is a separated woman of 70 who suffers from Alzheimer’s and lives with a non-contributory pension of 365 euros. Since 1974 he lives in a rented flat in the Paseo de la Castellana, having paid any and all receipts until today. How can a sick woman is evicted after forty years without having a single euro?

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One thought on “Foreclosure Notes 4/4/13 – 4/8/13

  1. My husband kept secret our house was in foreclosure by hiding mail and forging my signature. He has had some sort of nervous breakdown and now after paying our mortgage for 33yrs we are left with nothing. My home is worth @$400,000 and we owe $33,000 left on the mortgage. Can I do anything?

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