[sudo-discuss] Oakland gentrification is very well planned & executed

[Sonja Trauss]

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?


On Sunday, May 11, 2014, Autonomous <autonomous666 at gmail.com> wrote:

> >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.
>
> [image: Inline image 2]
>
>
> On Sat, May 10, 2014 at 7:33 PM, Patrik D'haeseleer <patrikd at gmail.com<javascript:_e(%7B%7D,'cvml','patrikd at gmail.com');>
> > wrote:
>
>> On Sat, May 10, 2014 at 7:29 PM, <batkid at gmx.com<javascript:_e(%7B%7D,'cvml','batkid at 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 at snowyla.com<javascript:_e(%7B%7D,'cvml','romy at snowyla.com');>
>>> >
>>> To: "Sudo Room Discussion List" <sudo-discuss at lists.sudoroom.org<javascript:_e(%7B%7D,'cvml','sudo-discuss at 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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>>>
>>
>>
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