Thank you Occupy The Hood and Occupy Los Angeles!
Great job everybody! Ms Parks and all of us living in Los Angeles are blessed to be able to have someone to turn to. These days are not only hard times, but these hard times are compressed by unfairness from illegal bank actions that lead to wrongful foreclosures.
What is "Wrongful Foreclosure"?
Wrongful foreclosure is when a lender or institution forecloses on an individual and sells their home illegally – or using methods which are outside the bounds of the law which is what Faith Parker of South Los Angeles has been going through. For instance, if a person is in the process of foreclosure and a lender or institution accepts a partial payment from that individual – but continues with the foreclosure, it is a wrongful foreclosure. This happens all the time to individuals and many don’t realize that it is happening. They seem to think that lenders and institutions are above the law, but they’re not.
Some instances of wrongful foreclosures include when the lender or institution has adjusted the interest amount to an incorrect amount, when they have accepted a partial payment from an individual and then continued with the foreclosure process, continuing with a foreclosure although the individual was in chapter 11 or chapter 13 bankruptcy, failing to apply payments to the individuals account and more.
With Occupy The Hood and Occupy Los Angeles on it big time and when 1 in 5 American foreclosures are in California, with an estimated 2 million new foreclosures expected to hit California cities in 2012, primarily in low-income communities, residents are relieved to know that they've got a friend.
According to Kwazi Nkrumah, a community activist who co-founded Occupy the Hood Los Angeles, "inner cities have become a prime target of banks and financial institutions."
You go Kwazi! Thank you, and everyone that helped rally for Faith!
On Friday, January 13, another rally involving more Occupy Los Angeles against forclosures, will meet for an interesting action at Occupy Foreclosure Auction, starting in Downtown LA. For more information please visit the Facebook event page at: