A National Epidemic

There are some components of the Occupy Movement who have incorporated “Occupy Foreclosed Homes” into their direct action toolbox. These community based direct actions appear to be about preventing/obstructing evictions deemed by the participants to be the result of perhaps illegal though primarily uncontested foreclosure actions.

But more importantly, the organizers hope to bring attention to the hundreds of thousands of defective foreclosures resulting from faulty assignments, robo-signed/fraudulent endorsements, destroyed/missing notes, etc. as part of the enormously profitable mortgage securitization scheme. A scheme which was in full, bipartisan-supported force and effect with dozens of other financial schemes directly responsible for our current financial crisis. A crisis which, imho, is a domestic threat to homeland security.

Occupiers point to the applicable regulatory authorities (industry lapdogs) who have essentially slapped a few wrists and then turned a blind eye to the ongoing, questionable at best, and at worst, illegal practices and frauds upon the courts of competent jurisdiction.

It was Lincoln who said, “The strength and security of a nation is found in the homes of its people.”

Today, Lincoln might observe,  “We have become a Nation of Foreclosure!”

Our government, its industry supporters and its mainstream media have painted these demonstrations of civil disobedience as lawless acts committed by ignorant, club-yielding deadbeats. I can assure you that is far from true.

The overwhelming majority of Occupiers are bound by a pledge of non-violence.  Among these decent, hard working civil action organizers who come from all walks of life and bear all political stripes who are fortunate to be college educated or college educators, lawyers, doctors, or consumer advocates stand (in body or spirit) shoulder to shoulder with the un/under employed, uninsured, and in some cases impoverished tenants, homeowners, friends, families and neighbors of the subject of a groundless eviction, or an as  yet unchallenged foreclosure process.

To be fair, the majority of mortgage foreclosures I’ve studied in the last 30 years have been fully supported with lawful documentation, by-the-book and perfectly justified. But a growing number of mortgage foreclosures on loans originated between 2003 and 2009 are not. It seems the more we learn about the circumstances leading up to the in broad daylight looting of the US Treasury, the more widespread the concerns which empower the growing curious to become better informed. Then public scrutiny and resentment builds. Coincidentally (?), in U.S. dollars, the amount of negative equity (underwater homes)
in our nation’s housing stock is roughly equal to the amount of bonuses paid out to the financial wizards of Wall Street.

While I don’t personally participate in these particular demonstrations of civil disobedience, I long have advocated lender challenge take place early on in the foreclosure process, in offices or in courtrooms. But there are growing numbers of those who do support these demonstrations especially as foreclosure fraud continues and in many cases escalates due to the “get out of our jail free card” issued by most, if not all but one, states’ attorneys general.

“Oh, well, though some of their lending and loan servicing/foreclosure practices are technically against some laws, we’re not going to start issuing arrest warrants or interrupt their business. They’ve agreed to pay a fine and promise to play nice and we’ve agreed to accept the terms of the fine they’ve agreed to pay, and their promise to play nice.  What more do you want? It’s an election year, and we aren’t about to offend campaign contributors.”

As one U.S. Senator recently remarked while addressing an audience in Washington, DC, “The banks? Look around. They own the place!”

Recently, some local governments have even made it illegal to video-record evictions.

I support independent media. Good luck.