FORECLOSED Owners Should Squat In Their Own Homes ~ 1/30/2009

[peaceandlove]

US: Congresswoman advises those in foreclosure to stay in their homes and make banks prove they own the note on your property, which some of them cannot. Raw Story 2009 Jan 30 (Cached)
Source: http://www.realityzone.com/currentperiod.html

Rep: Foreclosed owners should squat in their own homes
David Edwards and Stephen C. Webster
Published: Friday January 30, 2009

Original Article and Video at: http://rawstory.com/news/2008/Rep_Fo...t_in_0130.html

If you're poor and the bank is coming for your home, Congresswoman Marcy Kaptur has a plan for you.

Just squat, she says.

Yes, this Ohio Democrat is actually encouraging her financially distressed constituents whose homes have been foreclosed upon, to simply stay put.

In a Friday report, CNN's Drew Griffin explored the case of Ohioan Andrea Geiss, whose home was foreclosed upon in April.

"Behind in payments, out of work, a husband sick, she had nowhere to go," said Griffin. "So, she decided to follow the advice of her Congresswoman and go nowhere."

In Lucas County, Ohio, over 4,000 properties were foreclosed upon in 2008, reports CNN.

"So I say to the American people, you be squatters in your own homes," said Congresswoman Kaptur before the House of Representatives. "Don't you leave."

She's called on all of her foreclosed-upon constituents to stay in their homes and refuse to leave without "an attorney and a fight," said CNN.

"If they've had no legal representation of a high quality, I tell them stay in their homes," Kaptur told Griffin.

Kaptur is a high-profile advocate of an increasingly popular mode of fighting foreclosures best known for it's key phrase: "Produce the note."

By telling a bank to "produce the note," a homeowner can delay foreclosure by forcing the lender to prove the suing institution is actually the same which owns the debt.

"During the lending boom, most mortgages were flipped and sold to another lender or servicer or sliced up and sold to investors as securitized packages on Wall Street," explains the Consumer Warning Network. "In the rush to turn these over as fast as possible to make the most money, many of the new lenders did not get the proper paperwork to show they own the note and mortgage. This is the key to the produce the note strategy."

And Friday's segment on this growing foreclosure fighting "movement" was not the network's first. Earlier in January, CNN explored one person's strategy in demanding her bank "produce the note," only to find that the lender had "lost or destroyed" the evidence of debt ownership. Such a revelation can significantly strengthen a homeowner's position when asking to renegotiate a mortgage.

That these banks, many of which received billions of dollars in government bailout funds, continue to boot defaulted owners from their homes, makes them "vultures" says Kaptur.

"They prey on our property assets," she said. "I guess the reason I'm so adamant on this is because I know property law and its power to protect the individual homeowner. And I believe that 99.9 percent of our people have not had good legal representation in this."

This video is from CNN's American Morning, broadcast Jan. 30, 2009.

[Dantheman62]

hmmm interesting, especially since I'm going through it now, as we speak!

[Swanny]

If everyone squats what can they do?
The bailiff's will be out of work anyway so who is going to kick you out??


Good luck Dan

[peaceandlove]

Produce the Note - Fighting Foreclosure - CNN

Source: http://www.realityzone.com/currentperiod.html

Video (5:16): http://www.youtube.com/watch?v=YUZdANb6UaY

Facing foreclosure? Info at http://www.consumerwarningnetwork.com may help. Your goal is to make certain the institution suing you is, in fact, the owner of the note. There is only one original note for your mortgage that has your signature on it. One such case is profiled on CNN's Your Money.

[peaceandlove]

Michigan Sheriff Halts Foreclosure Sales
By KELLY CURRAN
February 4, 2009

Source: http://www.pyrabang.com/view.php?ref...=&visitor=true

In recent months, 300 to 400 foreclosed homes come up for sale each week in Michigan’s Wayne County. And as of Monday, that will no longer be the case.

“Today I will be stopping all mortgage foreclosure sales in Wayne County, beginning with the sale that was scheduled for this Wednesday,” said Wayne County Sheriff Warren Evans in a statement earlier this week.

While some experts question Evans’ authority to enact such a measure, the sheriff argued that he has the power and obligation, under the Troubled Asset Relief Program — which according to Evans, trumps state law — to halt foreclosure sales until “efforts to modify the mortgages of homes covered by TARP have been exhausted.” Because once a foreclosure sale is complete, homeowners lose their rights to the property.

ARTICLE CONTINUES HERE: http://www.pyrabang.com/view.php?ref...=&visitor=true

[THE eXchanger]

for about $15 you can go to the land registry office
and, check to see, if they have a note filed on your home

apparently, many of them, do NOT

and, since, they sold your notes so many times

many of them, can NOT produce proof you even owe it

something perhaps, to ponder

[peaceandlove]

A friend is going to court tomorrow regarding the foreclosure of her home. It turns out the mortgage company could not find the note for quite some time...actually took them 10 months to track it down.

[pyrangello]

Hey P&E I service foreclosed homes amongst other things, typically we do service work on 5-7 a day. Been doing this for 6 years. I've heard all the stories, some good, some bad, some very troubling. The most disturbing homes are the ones that when they leave they also leave baby pictures and photo albums of there life. Then you know they gave up. In the last 2 years some of the homes are getting nicer but there's at least 1/2 of these that come in that the individuals should just flat out live on a farm with the pigs. I mean when you have to go into the home with a mask because of the smell, or rake the carpet with a leaf rake to try and pick up the dog hair , or bring a septic guy in to suck the toilets out because they were left full to the top. It just doesn't leave you with a very good impression. I have a dog and cat we rescued from these homes and they are the absolute best as they have experienced the absolute worst. Typically just like unemployment there will always be a certian percentage of the population unemployed as there is with foreclosers. The standard rate is 3.5% of homes every year get foreclosed on . I think it's 7-8% now. But that still means 92% are making the payments . So it's bad , the question is how much worse is it going to get.

I do feel for many who are experiencing this loss of a home. It's something no one should have to go thru. I have a lady right now that threatened to bulldoz down some of the buildings on the property. If a person really wants to save there home , I've also witnessed the nightmare of working something out with the mortagage company, thats if you can even get ahold of them . Seems like a big raquet to me . Thanks for all the links to help people. I really have no opinion of squatting because every person has there own individual story. I just know what happens on the back end.

[Jacqui D]

This is exactly what people should do, where will you go if you lose your home, here in the Uk, you would be possibly given a bed and breakfast to stay in, this would cost the government further payments so how can they evict you.
They have not been building homes for years here, there is just no new homes to put people into.
It makes sense to me, stay where you are, i'm one of the lucky ones my home is now paid for, but myself and my husband have both worked hard all our lives, we were married very young 18 and 20 so we have been buying and selling for many years.
Unfortuantly 12 years ago my husband took sick, i had to give up my work to look after him so we downsized our home.
We have a modest 3 bed home, now the kids have moved out and no other income coming in we are still struggling.
Everyone accumilates loans over the years the hard fact is most can not live on benefits alone.
With this accumilated debt we are seeking ways that we can sustain ourselves on what ever income we can, it's not easy.

My fear is that we will not beable to make many more payments and eventually a court hearing may be called.
This is devestating for us both 38 years of marriage and we are still struggling as we did when we were youngsters.

People will have to make a stand do not leave your homes! stay put!
If they come for payment on our loan we will pay what we can other than that they will have to take it in possessions.
I don't want you to feel sorry for me that was not the reason i divulged this but i think there are many worse off than i, i shudder to think what will happen next.

[peaceandlove]

At-risk homeowners protest at mansions of mortgage CEOs

By Jennifer Millman | NBCNewYork.com | Feb. 9, 2009

Grab Your Torch ‘n Pitchforks!

Hundreds of people trying to save their homes from foreclosure flocked to Connecticut's wealthy Gold Coast this weekend to give financial kingpins a piece of their mind.

Article Continues: http://truthalliance.net/Archive/tab...gage-CEOs.aspx