After Occupy Wall Street, here comes Occupy Foreclosures!

Another escalation in the ``occupy`` movement.

Ohio Dem backs call to ‘occupy foreclosures’

A vote by “Occupy Oakland” earlier this week called on homeless Americans to begin occupying foreclosed and abandoned structures as squatters — and Congresswoman Marcy Kaptur (D-OH) couldn’t be happier.

“Thank you, Occupy Oakland,” she told Raw Story this week. “Thank you for caring about families who have been victimized by Wall Street greed.”

Kaptur has been one of the leading homeless advocates in Congress, going so far as to call for people facing foreclosure to squat in their own homes and demand their bank produce the home’s title before kicking them out.

She’s advocated a strategy known as “produce the note,” which challenges foreclosing banks to prove that they own the mortgage.

They should be doing that, most foreclosures were ILLEGAL. Banks don't have the titles, as Citigroup testified to congress in 2010 :

FCIC hearing

These mortgages were sold to Fannie Mae, Freddie Mac and other investors. Although we did not underwrite these mortgages, Citi did rep and warrant to the investors that the mortgages were underwritten to Citi credit guidelines.

In mid-2006 I discovered that over 60% of these mortgages purchased and sold were defective. Because Citi had given reps and warrants to the investors that the mortgages were not defective, the investors could force Citi to repurchase many billions of dollars of these defective assets. This situation represented a large potential risk to the shareholders of Citigroup.

I started issuing warnings in June of 2006 and attempted to get management to address these critical risk issues. These warnings continued through 2007 and went to all levels of the Consumer Lending Group.

We continued to purchase and sell to investors even larger volumes of mortgages through 2007. And defective mortgages increased during 2007 to over 80% of production.

All of those mortgages are FRAUDS.

Not to mention :
Mass. Supreme Court : foreclosure sales over the last 5 years are null and void

The banks don't own the houses. Those who lived in them before being thrown out illegally own those houses. And if those people are somewhere else, then anybody can take over these houses, as long as they live in there.