Posts Tagged ‘Shay’s Rebellion’

#Occupy Your Homes, No Longer a Silent Protest for #OccupyWallStreet

Friday, December 9th, 2011

 

 

Home for the holidays?

Long before we knew what an ‘Occupier’ was, Florida foreclosure defense attorney Roy Oppenheim talked about what he called Shay’s Rebellion 2.0 , a silent rebellion across the country of frustrated homeowners railing against the banks.

Well that rebellion is no longer silent. In fact’s it’s a deafening roar.

This week Occupy Wall Street protesters rallied around our nation’s embattled homeowners through the off-shoot Occupy Our Homes. Protesters in 20 cities across the nation moved from the nation’s parks to to properties under threat of foreclosure, joining hands to prevent good people from being put out on the streets.

The stories coming out of these protests are frighteningly similar, residents making every effort to work with the banks, either being denied a chance for a loan modification or given the runaround to the point of utter confusion.

In one case a woman is now paying more in rent in the home she once owned. In yet another Wells Fargo acquired a loan belonging to a woman with cerebral palsy and cancer, yet refused to offer her a modification. In each case protesters stood and called out to the community for support, in some cases disrupting the foreclosure process.

“We don’t know how many homes we saved for one more month during the holiday season,”Occupy Atlanta spokesman Tim Franzen told the Associated Press, he said. “It was kind of a Christmas gift to the people.”

The message was overwhelming and undeniable. The public will no longer stand idly by and let people who have been taken advantage of be cast aside by our country’s financial institutions like a child’s old toy.
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Roy Oppenheim on Strategic Foreclosure: Shay’s Rebellion 2.0

Thursday, May 20th, 2010

A silent rebellion has begun. This time there will be no drums or shots fired. In fact, no one will hear anything. Not even footsteps.

Homeowners have reached a tipping point of sorts: 7 million homeowners are currently underwater. They are defaulting on their mortgages. One by one they are part of Shay’s Rebellion 2.0, a rebellion being fought on the frontlines of foreclosure through strategic default.

This time however, it’s not just western Massachusetts, but a silent battalion of millions of underwater homeowners across every state that have declared a consumer rebellion. These new warriors are no longer worried about a bad credit score; instead they are concerned with their family’s economic future. They no longer trust a Congress they believe has been hijacked by a few large financial institutions. They also instinctively know their collective actions can quickly have devastating consequences to these oligarchic financial institutions.

This time, the Rebellion is a boycott caused by the banks’ own audacity, by thinking that they could take over the polity of this nation by growing too large for any President, Federal Reserve, or Congress.

Most experts suggest families are making a rational economic decision in walking away. Businesses decide to walk away from investments all the time. Oppenheim Law recognizes that families have an obligation to themselves and may feel compelled to break contracts just like any commercial real estate owner.

In fact, Time Equities, the owner of Tudor City in Manhattan, did exactly that when they walked away from billions in the largest strategic default in the history of the United States. Did we hear anyone say such conduct by these owners was immoral or unethical?
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