Tuesday, March 1, 2011

ACTION ALERT FOR OAKLAND, CALIFORNIA: VIGIL & RALLY SUPPORTING HOMEOWNERS IN FORECLOSURE

ACTION ALERT --- OAKLAND, CALIFORNIA

VIGIL & RALLY

SUPPORTING HOMEOWNERS IN FORECLOSURE

Organized by the WAMU Chase Homeowners Action Alliance

Friday, March 4th 2011 

Noon to end of the foreclosure auction. 

Alameda County Courthouse steps

Fallon Street Entrance

1225 Fallon Street (at 14th Street near Lake Merritt)

Oakland, California 94612

We are one.  We are strong.  
No auction block for us. 
No more.  No more.  
Thousands gone . . .  no more. 
No more.

The foreclosure crisis is not over. It is not over in Oakland, California or Alameda County or California or the United States of America.  In February 2011 California ranked number one in foreclosures, while Oakland ranked double the national average.  In 2010 banks repossessed (foreclosed on) 1,000,000 homes throughout the Alameda County.  In 2011 forecasters state that 1,200,000 more homes in America will be lost to foreclosure.  These figures represents homes, lives, families, broken dreams and broken promises. No one is bailing our the good decent people.
Presently 5,000,000 borrowers in the county have fallen least two months behind on their mortgage payments with foreclosure rates expected to remain high in 2011, a result of high unemployment, stringent refinancing standards and decreasing home values. Should these homeowners miss a third payment their bank will file a Notice of Default, step one in the foreclosure process.
For each foreclosed home our local government sustains lost revenues averaging from $5,000 to $35,000 per property.  On March 4th 2011 a minimum of 135 homes are presently scheduled to  be sold at auction on the courthouse steps in Oakland, California -- a loss of  $675,000 to $4,725,000 in revenues for our community for one days worth of foreclosures. In March 2011 over 2,451 homes belonging to the good people of Alameda County will be put on the auction block equating to lost revenues of $12,255,00 to $85,785,000.  These losses stagger the mind considering the economic distresses being experienced throughout California.
Banks and Wall Street continue to profiteer from the massive fraud schemes, the securitization of loans, robo-signing, faking documents, fraudulent foreclosure filings, misrepresentations, appraisal fraud, greed, and avarice boggling the human senses.  Yet, not one Wall Street executive or banker stands convicted of any crimes.  Banks reap record profits.  Executives receive exorbitant bonuses.  While Wall Street reaps record profits, while our communities, neighborhoods, and families are being  irrevocably damaged.

Californians are rallying to demand the following from our nation's leaders:
  •  Immediate state-wide moratorium on all foreclosures for a period of 6 months.
  • Mandatory meaningful and sustainable loan modifications
  • Mandatory principal reduction and meaningful sustainable loan modifications.
  • Prosecution of the perpetrators of fraud on every level.
  • Protections for the victims of bank fraud and malfeasance.
  • End foreclosures while a loan is in a modification process.
  • Restitution in cases where homes have been fraudulently confiscated.
Join us if you are  concerned about the impact of foreclosures on our families and our community. 

  OAKLAND SAYS NO TO FORECLOSURES.

Bring your signs, banners, good will, prayers. Let our voices be heard.

NO MORE . . . NO MORE



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