Occupy Bernal Heights was joined by several City Supervisors — including David Campos — for a rally on the steps of City Hall to combat home foreclosures. Fog City Journal was there:
The rally on City Hall steps, organized by Occupy Bernal Heights and the Alliance of Californians for Community Empowerment (ACCE, formerly known as ACORN) featured several “foreclosure fighters,” residents who are on the verge of losing their homes.
“We are not asking for a handout, we’re just asking for modifications of our loans,” said Ernesto Viscaro, a struggling homeowner and member of Occupy Bernal.
The article also details a legislative effort by Supervisors John Avalos and David Campos to halt further foreclosures:
Following the rally, Supervisor Avalos introduced a resolution – co-sponsored by Supervisors David Campos, Christina Olague, Jane Kim, Eric Mar and David Chiu, “Urging city and county officials and departments to protect homeowners from unlawful foreclosures.” The measure also urges mortgage and banking institutions, “especially San Francisco-based Wells Fargo,” to “suspend foreclosure activities and related auctions and evictions.” […]
“A postponement is not enough,” said District 9 Supervisor Campos. “We need a moratorium on foreclosures in San Francisco. We are asking all city agencies to not play any role” in administering foreclosures, he said.
PHOTO: Bernal resident Ernesto Viscaro, by Christpher D. Cook for Fog City Journal
A moratorium on foreclosures would be a great why to get banks to stop making mortgage loans in the City. That would be great for real estate!
a great way…that is
Or it might be a great way to get banks to quit breaking the law with illegal foreclosures after Assessor Phil Ting found that 84% of recent foreclosures in San Francisco broke the law.
http://www.nytimes.com/2012/02/16/business/california-audit-finds-broad-irregularities-in-foreclosures.html
Either way.
How many foreclosures do you think have occurred in the city where the owners made all their mortgage payments?
There have been a few documented where the services have foreclosed on a property that they sold the loan to someone else (e.g. Freddie Mac); and where properties that were completely up to date in their payments were sold as foreclosures. Not real common, but it has happened, there was a radio program on KQED a few months back on it.