Occupy Atlanta Spends the Night on the Central Ave. Ledge in Solidarity With the Homeless
Capitol Police are planning to evict the people who have been sleeping on the ledge that backs up to Georgia Plaza Park at Central Ave. between MLK and Mitchell St. They have come there for years seeking the warmth that rises up from the vents, but now they are under threat of being forcibly removed with no alternative provision. Occupy Atlanta anticipates that this removal will happen between 5:30 and 6:30 am. We will be occupying that space with them in solidarity and so that we will be present if the eviction occurs.
Occupy Gwinnett and Occupy Atlanta Take On Fannie Mae
Tomorrow (November 14) at 2 pm, Occupy Gwinnett and Occupy Atlanta will be on the doorstep of the Fannie Mae regional offices at 950 East Paces Ferry Rd. We will be conducting a press conference which Tawanna Rorey will attend.
I remain unclear on precisely what the Rorey family’s situation is. I understand that this family has stable income but missed a payment intentionally in hopes of qualifying for a modification. Why was this necessary, when homeowners without delinquency can refinance at today’s rates (e.g. why did they feel they needed a modification)?
I don’t want to assume that these folks were trying to “game the system,” but the limited information available makes it seem that way.
It was false information given by the loan servicer, which they believed. Why wouldn’t they? This is not the first time that has happened…nor is it likely to be the last.
Not only is it not the first time, but it’s actually happening to thousands and thousands of homeowner in the country. Loan servicers have no interest in helping homeowners with the HAMP program because it’s not profitable for them. So they make them believe that in order to be eligible for HAMP they have to show hardship and they have to miss payments on their mortgage. And when homeowners do that, the servicers immediately start foreclosure, which is much more profitable for them. It’s a scam. It’s widespread, and they are getting away with it.
To build on what Richard said: In a foreclosure they can get the PMI (Personal Mortgage Insurance) to pay the whole loan, plus get the house. It’s a profitable game.