[COMM-ORG] PICO foreclosure organizing

Discussion list for COMM-ORG colist at comm-org.wisc.edu
Mon Oct 18 19:31:48 CDT 2010

  [ed:  Mike replies with a strategy.}

From: Mike Morin <equityunion at earthlink.net>

The whole system of housing, mortgages and rent, is unfair.

The foreclosure issue is a tricky one, though no one(s) should be left

United Assets minus United Liabilities = United Equity.
It's not quite that simple, but that is a start to a workable resolution.

Questions arise such as those who grossly overestimated their worth and 
outrageous loans and ran up irresponsible credit bills, should they get
possessional equity of all those assets?

On the other hand, the outrageous real property inflation created a
situation where only people who already had equity could get any.

Also, once upon a time, the economy was more stable and people more
sedentary. It is a rare couple that stays in one place for thirty years in
the last generation, particularly.

The whole system is in dire need of economic overhaul and I have a good 
for it. Obviously, I can't do it alone. But when solving any problem, the
first challenge is to identify the problem and the problem is systematic.
Consider the problem identified and a paradigmatic solution offered. The
details of policy and implementation of policy need to be worked out. There
is where I need the help of you all (meaning everyone.

Local and regional equity unions are the solution. Cooperation is needed 
the realization of a fair home ownership system, and just as importantly a
fair and affordable &quot;commercial&quot; real estate system so that we 
can have an
environment in which ecological economic redevelopment can be feasible.

In Peace, Friendship, Community, Cooperation, and Solidarity,

Mike Morin
512 W. 10th Avenue, #2 (of which I have $0 equity and make monthly payments
of more than 30% of my income)
Eugene, OR  97401

On 10/15/2010 7:55 PM, Discussion list for COMM-ORG wrote:
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>    From: Mary Rabon<news at piconetwork.org>
> To view this message in a browser:
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> 0StTWAA0-0089:db0/l-sf-cl-70140000000StTWAA0-0089/showPreparedMessage
> Dear Friend,
> More and more public officials and organizations are calling for a
> freeze on foreclosures until banks fix a foreclosure system that we now
> know is riddled with fraud and unfairness. Read our blog entry,
> "Foreclosure Fraud is the Tip of the Iceberg"
> http://blog.piconetwork.org/?p=3D136
> On Monday, PICO leaders from my organization here in Kansas City, MO -
> Communities Creating Opportunity - held a joint press conference with
> Mayor Mark Funkhouser to ask the Missouri Attorney General to call for a
> temporary moratorium on foreclosures. We are pleased that a coalition of
> 50 State Attorneys General have now announced a joint investigation into
> fraudulent foreclosure practices by the nation's largest banks.
> For the past two years families trying to avoid foreclosure have told
> CCO that their banks are losing their paperwork and not returning their
> calls. Often people cannot even figure out who owns their mortgage. Now,
> banks have admitted fabricating documents, forging signatures and
> illegally forcing people out of their homes. This is serious. The laws
> that the banks are breaking in their rush to foreclose are designed to
> give people a chance to save their homes.
> You can take one easy step today to help fix the problem by asking your
> bank for a copy of your note. Find out if your bank lost your mortgage
> note
> http://www.wheresthenote.org/pico
> . You can do this if you own a home, even if you're not facing
> foreclosure.
> By flooding the market with unnecessary foreclosures banks have been
> hurting all of us. Foreclosures are bad for the economy and bad for
> neighborhood housing values. We need less, not more, foreclosures.
> The best way to stabilize the housing market is for banks to work with
> homeowners to provide sustainable loan modifications that start with
> reducing principal. The greatest unfairness of the foreclosure crisis is
> that the very banks that were saved by taxpayers have done so little to
> help families and the economy recover. That needs to change.
> Thank you,
> Mary Rabon
> Communities Creating Opportunity
> Kansas City, MO
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