Quick point - you guys know
that it was the housing market crash (sudden DECREASE in home values)
that set off waves of foreclosures, right?
In other
words, suppose you're in one of these loans. You realized what is about
to happen to you ("FUCK! I can't afford the mortgage after reset!) let's
look at two scenereos:
Scenereo one: the value of your house has increased
since you purchased it two years ago. The house is worth more than you
owe on it, and there are many buyers interested in buying homes like
yours in your area.
Scenereo two: the value of your home has decreased
since you purchased it two years ago. The house is worth less than you
owe on it, and there are very few people interested in buying homes like
yours in your area.
Which scenero is better for you? What do you do in
each scenereo?
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>Oakland gentrification is very well
planned & executed
Indeed.
It is particularly reprehensible that specific neighborhoods in Oakland
were targeted for predatory loans and fraudulent foreclosures. The
attached image shows foreclosures in Oakland represented by small dots
which is overlaid onto demographic data showing non-white neighborhoods
in red and white neighborhoods in blue. See a pattern here? This is a
form of economic warfare targeted against people of color who have lost a
massive amount of wealth while investors have moved in to profit from
the resulting increase in real estate values.
The scam involves a loan with very low interest for a
period of two years followed by a dramatic increase in interest. When
people ask for a loan modification, they are told they need to miss a
payment in order to qualify - it's in the servicing contract. Then, upon
missing one payment, the bank refuses to accept any more payments by
giving the run-around and the home is subsequently foreclosed upon. If
that wasn't enough, people are forcibly removed from their homes by
illegal eviction proceedings. Typically the unfortunate former homeowner
only learns about the eviction when the police show up to kick them out
on the street along with all their possessions. This is because they
aren't served properly and have no idea a court action even existed.
This pattern was repeated over and over in Oakland, as you can see in
the attached image.
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On Sat, May 10, 2014 at
7:29 PM, <batkid@gmx.com> wrote:
Don't worry, Oakland won't become the East Hamptons anytime soon
http://www.insidebayarea.com/news/ci_25737160/oakland-man-shot-driving-truck-near-courthouse
http://www.insidebayarea.com/news/ci_25732368/jurors-convict-man-murdering-two-west-oakland-neighborhood
http://www.insidebayarea.com/news/ci_25731273/oakland-man-dies-from-injuries-from-downtown-fight
Oh good - I was getting worried about having too
many museum shows and cat video festivals in the neighborhood...
Patrik
-----Original message-----
Sent: Saturday, 10 May 2014 at 21:30:39
From: "Romy Snowyla" <romy@snowyla.com>
To: "Sudo Room Discussion List" <sudo-discuss@lists.sudoroom.org>
Subject: [sudo-discuss] Oakland gentrification is very well planned & executed
The museum shows, the cat festival.. I guess we are all part of the master plan : P
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Don't worry, Oakland won't
become the East Hamptons anytime soon
http://www.insidebayarea.com/news/ci_25737160/oakland-man-shot-driving-truck-near-courthouse
http://www.insidebayarea.com/news/ci_25732368/jurors-convict-man-murdering-two-west-oakland-neighborhood
http://www.insidebayarea.com/news/ci_25731273/oakland-man-dies-from-injuries-from-downtown-fight
-----Original message-----
Sent: Saturday, 10 May 2014 at 21:30:39
From: "Romy Snowyla" <romy@snowyla.com>
To: "Sudo Room Discussion List" <sudo-discuss@lists.sudoroom.org>
Subject: [sudo-discuss] Oakland gentrification is very well planned & executed
The museum shows, the cat festival.. I guess we are all part of the master plan : P
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http://www.insidebayarea.com/news/ci_25737160/oakland-man-shot-driving-truck-near-courthouse
http://www.insidebayarea.com/news/ci_25732368/jurors-convict-man-murdering-two-west-oakland-neighborhood
http://www.insidebayarea.com/news/ci_25731273/oakland-man-dies-from-injuries-from-downtown-fight
-----Original message-----
Sent: Saturday, 10 May 2014 at 21:30:39
From: "Romy Snowyla" <romy@snowyla.com>
To: "Sudo Room Discussion List" <sudo-discuss@lists.sudoroom.org>
Subject: [sudo-discuss] Oakland gentrification is very well planned & executed
The museum shows, the cat festival.. I guess we are all part of the master plan : P
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