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Originally Posted by ruffryder
December 6 - OWS calls for Occupy Homes. Occupy Homes, an offshoot of Occupy Wall Street, will protest in foreclosed and vacant properties in around 25 U.S. cities on Tuesday's "Day of Action," promoting what organizers call the "basic human right of housing."
This targets the banks and institutions offering incredible and outrageous loans to homebuyers and no help with foreclosure. It encourages Americans to transform their relationship with land and owning homes. People will be protesting foreclosures and auctions that will go on. In the coming months there are plans of more of this kind of protesting on foreclosures. Full story here > http://www.ibtimes.com/articles/2618...ures-dec-6.htm |
These Occupy efforts really are important. I am elated to see these actions begin and spread throughout Occupy demonstrations all over. Wouldn't it be something if somehow an independent "mortgage" company sprung from this? Something that could just pay-off the loans and re-sell the home to people at low interest rates and the principal amount of the market today. And no FICO scores required! So many of these people could pay a sane mortgage- some have become re-employed, but at lower take-home pay. Maybe even a "grace period" of a few months until payments began (with no accrued interest) if they are not yet back to work.
I had a fantasy today about winning the super-duper lottery and setting up a non-profit re-finance that is totally different than traditional profit motivated banks and mortgage companies that could intervene and partner with the Occupy movement to save these homes. LOL- I don't even buy lottery tickets- but it was the only thing I could think of to do something like this.
I know, I'm not a good candidate for running a business. Anyway- any focus on the housing situation and those losing their homes due to the Wall Street greed that brought our economy to where it did, excites me. There was predatory lending going on with junk securities bundled and sold at insane profits. Relaxing mortgage qualifying documentation and requirements made it very easy to rope all of these people in- and that was exactly what they wanted to do.