Category: News & Updates

OGSO Presents: Let’s Lose Our House

February 9th, 2012 · Posted by

Let’s Lose Our House is a smart and funny look at the often misunderstood roots of the housing crash. This short film follows the “all American family” from buying their first home to seeing it foreclosed on and shows how banks and the large financial industry destroyed peoples lives through fraudulent practices. This film was produced by the Foreclosure Working Group of Occupy Greensboro, North Carolina.

Join us on March 14 at the historic Carolina Theatre For the World Premiere of Let’s Lose Our House! The stars of the film will be on hand, including ForcloseBot 2000 and Robo Linda Green. The evening will include stories from people who have seen their homes taken from them through fraudulent foreclosures and information about how we can stand up and save our homes from predatory bankers.

More information will be posted here as the premiere date gets closer, so check back!

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Courthouse News: Chase Accused of Brazen Bankruptcy Fraud

January 17th, 2012 · Posted by

By Matt Reynolds, Courthouse News Service

JPMorgan Chase routinely fabricated documents to deceive bankruptcy judges, going so far as to Photoshop documents to “create the illusion” of standing “in tens of thousands of bankruptcy cases,” according to a federal class action.

Lead plaintiff Ernest Michael Bakenie claims that Chase’s “pattern and practice of playing ‘hide-and-seek’ with debtors, judges and other bankruptcy players” bore rich fruit: that Chase secured motions for relief of stay and proofs of claim in 95 percent of its cases.

“Through the use of fabricated assignments, endorsements and affidavits that purport to transfer deeds of trust, notes and the rights to all monies due under the terms of tens of thousands of non-negotiable promissory notes (the ‘MLNs’); Chase has demonstrated a pattern and practice of playing ‘hide-and-seek’ with debtors, judges and other bankruptcy players,” the complaint states.

“Chase intentionally conceals the identity of the true parties in interest entitled to enforce the tens of tens of thousands of residential non-negotiable promissory notes (the ‘MLNs’) for its own financial benefit, at the expense of the class and to the detriment of the integrity of the bankruptcy system.”

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Yes! Weekly: Guilford foreclosures accelerate, but new filings are down

November 16th, 2011 · Posted by

By Eric Ginsburg, Yes! Weekly

Marche Clarke, with the Guilford County Homeownership Center spoke at a recent anti-foreclosure rally outside of Bank of America. (photos by Eric Ginsburg)

Marche Clarke, with the Guilford County Homeownership Center spoke at a recent anti-foreclosure rally outside of Bank of America. (photos by Eric Ginsburg)

Residential foreclosures increased dramatically in North Carolina from September to October, with more filings in Guilford County than any other county in the state. Foreclosure rates went up nationwide by 7 percent, while foreclosure rates in North Carolina rose by 35 percent from September to October according to RealtyTrac, a real estate group that released the report.

Yet the total number of new foreclosure filings — residential and commercial listings that may not ultimately result in foreclosure — fell for the second straight month statewide.

“We’re still on the long term trend of higher foreclosure rates than normal,” said Peter Skillern, director of the Community Reinvestment Association of North Carolina. “There’s a sense that there is a backlog of foreclosures that banks are working through.”

In Guilford County, the number of new filings fell from 279 to 238, the lowest number this year. On average, Guilford County has seen 296 new filings every month, though the last four months have been below that average. In 2010, the average monthly filings were 335, and while 2009 and 2008 were lower, so far 2011 is averaging fewer filings.

Forsyth County’s new filings increased for the third straight month, including 260 in October, making it the most number of new foreclosure filings all year. For whatever reason, October has been marked by the highest number of new filings in Forsyth and Guilford Counties in 2007, 2008 and 2010. The same is true on a statewide level.

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When Zombies, Robots, and Occupy Greensboro Attack!

November 11th, 2011 · Posted by

On November 11, 2011 Occupy Greensboro foreclosed on Bank of America with the help of robots and zombies!

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60 Minutes: Do you know who really owns your mortgage?

April 4th, 2011 · Posted by

By 60 Minutes

“Do you know who really owns your mortgage?” As Scott Pelley reports on “60 Minutes” this week (4/4/11), that question has become a nightmare for many homeowners since the invention of mortgage-backed securities. Yes, those were the exotic investments that sparked the financial collapse in this country.

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