Los Angeles News
Foreclosures focus of Attorney General, Occupy Los Angeles
NORWALK, Calif. (KABC) -- One-hundred-seventy-five Occupy L.A. protesters were to be released from jail Friday night and won't face charges. They were arrested when police cleared out the City Hall encampment Wednesday morning. They won't face charges because they volunteered for an education program.
Occupy L.A. protesters demonstrated in Norwalk Friday.
Occupy L.A. singled out Bank of America Friday as the group focused on the foreclosure crisis at the Norwalk courthouse.
The attorneys general of California and several other states share the concerns of the Norwalk protestors.
There was an auction held for several dozen foreclosed homes Friday. Bank of America was just one of the lenders.
Carlos Marroquin is an advocate for a moratorium on foreclosures.
"We want the public at large to understand that the banks are continuing their crimes against the families of America," said Marroquin.
Recently California Attorney General Kamala Harris subpoenaed Bank of America records in an investigation into foreclosures.
Harris backed out of a nationwide agreement being worked on to find a settlement with mortgage lenders. She said $25 billion wasn't enough.
Marroquin agrees with her.
"The victims are in the millions, so if you break it down to how much each state will receive, you are only talking about maybe a thousand dollars for each homeowner that has been victimized," said Harris.
Bank of America said in a statement it has "completed more than 200,000 modifications in California. Foreclosure is always our last resort."
This week the state of Massachusetts sued five of the nation's largest mortgage lenders for unfair and deceptive business practices.
So it appears certain that the foreclosure crisis will move from protests to the courts in the near future.
protest, antonio villaraigosa, downtown, los angeles news, john north
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