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Is Occupy Foreclosures next?

By Polyana da Costa · Bankrate.com
Tuesday, November 8, 2011
Posted: 3 pm ET

After occupying streets and parks in various parts of the country, Occupy Wall Street activists plan their next move: occupying foreclosures.

The San Francisco Chronicle reports that Occupy Oakland activists met this week to discuss not whether to occupy empty homes, but when and how to do it. One strategy the group is considering is contacting people who lost their houses to foreclosure and having them move back into the properties. Prior to the Occupy movement, there were some isolated cases in which homeowners who had been evicted moved back into their former homes months after the lender had taken title to the properties.

Calls urging protesters to occupy vacant homes have been circulating on Twitter, and members of the Occupy movement in various parts of the country have begun to respond.

"This home is occupied," reads the sign members of the Occupy Atlanta group have put in front of a house in a suburban Atlanta neighborhood. According to The Atlanta-Journal Constitution, the group showed up at the house after a family of five was told that they would be evicted from their foreclosed house.

Last week, members of the Occupy Oakland group attempted to take over an empty building. The occupation led to more than 100 arrests, the Chronicle reports. Oakland city officials say occupation of vacant properties is illegal and will not be tolerated, the paper reports.

I'm interested in hearing what you think about this movement. Do you think occupying foreclosures is justifiable? Will it do anything to solve the foreclosure crisis or simply cause chaos?

Follow me on Twitter @Polyanad

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47 Comments
Margaret
November 23, 2011 at 5:45 pm

I think mortgage compinies and banks should allow people to stay in there homes for a year or so untul they have found employment and can pay the mortgage payment or rent the homes out for a period of time from the lender at a reduced rate. This is better then forclosing.

AJ
November 21, 2011 at 3:42 pm

dosevn, you got my vote!!

dosevn
November 17, 2011 at 8:07 am

Some in the real estate business feel as though we could help the economy and the people being foreclosed by working with foreclosures, re writing loans to a 50 year mortgage, even if it is interest only, rather than moving people out of their homes. It is not a perfect solution, but, might be worth trying. Not everyone will qualify,yet it might make a substantial dent in the problem. When the house goes into foreclosure, people don't even attempt to pay anything, so rather than let that happen encourage payment and encourage credit,for the payment while the loan is reviewed for possible re writing.

The occupy movement is at the risk of anarachy. We can not afford anarchy at this critical time in our history. The effort would be better spent on collecting signatures,for a nationwide vote to make corrective changes in government. To do that, we need to learn more about the constitution and our government.

Change the rules on how long an elected official can stay in Congress.
Stop all lobbying, all loopholes'
Requre a budget and a surplus as a safety net on a yearly basis.
Funds collected for specific purpose can not be shifted into other accounts for any reason.
No loans to anyone
Stop all grants, assistance etc., until we have a fund that has money in it for grants, and or assistance,
Require all non taxable groups to report their financials yearly, no exceptions, as there are now.
Reduce the number of Federal offices, EPA, Education, etc., and return the power to the States

It would be a constructive start, rather than a show

AJ
November 16, 2011 at 3:22 pm

The property is still owned by someone. It's up to the current owner to negotiate ANY occupation of private property. I agree with Sydney about OWS getting way out of control. The park in NYC is PRIVATELY owned; what part of trespass is not understood?

Luis, please explain your position. Are you saying you want OWS protesters to occupy empty homes? If so, under what conditions or circumstances? Thank you. -AJ

Luis
November 15, 2011 at 10:17 pm

This article is so freaking biased. "Do you think occupying foreclosures is justifiable?" to me that questions says enough. Author, It's not about justifying, it's a symbol of the people refusing to move away from their homes. The ghost of the people who actually are roaming around motels looking for cheap rent. They symbolize struggling Americans who are trying to survive, like nomads sleeping in tents.

Sydney
November 15, 2011 at 7:40 pm

I beleive in this Occupy movement But they in no way have the right to destroy property It's cost Portland, OR. over 1 million or More. This is WAY OUT OF CONTROL!!!! Dead people in tents overdoses several, Breaking the law and robbery went up also.