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Occupy Santa Cruz Demands County Supes Address Foreclosures
by Occupy Santa Cruz Media Work Group
Monday Nov 28th, 2011 9:01 PM
Occupy Santa Cruz asks County Supervisors to halt home foreclosures and prevent bank fraud
November 28, 2011 - Santa Cruz - On Monday, Occupy Santa Cruz sent a letter to the County Board of Supervisors requesting a moratorium on foreclosures and evictions, citing the history of bank fraud, poor record keeping for home titles, and a recent surge in home foreclosures and evictions. In the last year in this County alone, 1,594 homes were auctioned off at the County Courthouse steps.

Occupy Santa Cruz requested three specific actions of the Santa Cruz County Board of Supervisors: 1) A moratorium on foreclosures and evictions, 2) A task force to investigate the legality of foreclosures in this county, and 3) demand that the State Attorney General reject a bank foreclosure settlement.

In California, a state in which a foreclosure does not require a judicial decision, a bank may foreclose and evict a homeowner without ever having to go to Court. The financially strapped and stressed out homeowner, unable to afford a lawyer, does not have the benefit of a hearing, and is unable to present their case to a judge. Consequently homeowners automatically lose the rights to their property.

This is additionally complicated by considerable doubt of legal ownership. Due to mortgage bundling and sales of mortgage backed securities, banks often no longer hold the notes which are required in order to legally foreclose.

While California is way behind the curve of investigating these irregularities, other states have taken banks to court and turned up evidence of massive fraud, including backdating documents and forgery; tricks designed to cover up illegal title transfers. Many states and counties are looking at halting foreclosures until the mortgage fraud is investigated thoroughly. Counties to halt foreclosures include Cook County, Illinois and Sussex County, Massachusetts. The sheriff of Cook County which included Chicago refused to evict people from foreclosed homes until he received documentation from Bank of America and JP Morgan Chase that foreclosures were done properly and legally.

Occupy Santa Cruz foreclosure committee drafted the letter to the county board of supervisors. The letter was approved by the Occupy Santa Cruz General Assembly on Sunday.

Occupy Santa Cruz has gathered 24 hours a day everyday since October 6th currently occupying the county courthouse steps on Water Street. Occupy Santa Cruz is part of the worldwide Occupy Movement. Occupy Santa Cruz General Assemblies are held daily at 6pm, and on Sundays at 2pm at the county courthouse steps.

The full letter to the Santa Cruz County Supervisors can be found at http://occupysantacruz.org/2011/11/28/letter-osc-committee-on-foreclosures-to-county-board-of-supervisors/

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End chronic corporate criminality now!GWednesday Nov 30th, 2011 7:18 AM
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