Wood Co. man barricades self in foreclosed home: TOLEDO

By Laura Rice TOLEDO24
Monday, May 03, 2010 at 8:23 p.m.Photo

WOOD COUNTY, OH — A Wood County man facing foreclosure has boarded himself up in his home along with five others.

They are refusing to leave, despite a court order, and they say they will be there until Wood County Sheriff’s Officers drag them out.

Protestors are gathered outside Keith Sadler’s home of 20 years in rural Wood County trying to bring public attention to what they say is unfair action by banks and trying to keep the sheriff’s department from kicking him out.

“So far they have not come. Probably because of the strong public presence that has been so basically we can call this a victory for the day and hopefully we can carry that through tomorrow and the rest of the foreclosure,” said Lance Crandall, Toledo Foreclosure Defense League.

But the real action is going on inside, where Sadler and five others are locked up with supplies with no plans to leave.

NBC24 spoke with Sadler over an internet connection.

“They’re going to have to drag us out. We’re not going to willingly walk out,” said Sadler.

Sadler emphasizes that this is a peaceful protest and that they do not have any weapons.

He says he is doing this for himself.

“Because it’s my home,” said Sadler.

But also for all the others that could not keep up with house payments. Sadler was off work after a hand injury.

“I cut all the avenues that I could before that to try to make payments, to try to keep as close to on time as I could and of course it was getting impossible,” said Sadler.

What Sadler wants now is a moratorium on foreclosures. But, in talks with Wood County Sheriff Mark Wasylyshyn, that is not happening.

“(The Sheriff is) basically refusing to do that, saying it’s his duty to uphold the law of the courts even though the laws are immoral and unjust,” said Sadler.

NBC24 spoke with Sheriff Wasylyshyn who said it is Sadler who has broken his word.

Wasylyshyn met with him weeks ago to discuss an eviction plan and he says Sadler agreed to leave peacefully.

Wasylyshyn says sheriff’s deputies will remove the protestors from the property but he would not say when. He says his top priority is keeping his officers safe.

The People of the State of California vs CountryWide Financial, Universal American Mortgage Company,

Source: b.daviesmd6605

First Amended Complaint that lead to Countrywide Settlement. This is well written and shows the high pressure tactics without the ability to pay, over the top advertising.

The tactics are similar to the builder lenders who use the same tactics to create profits at the expense of the buyers. This was done with aggressive sales tactics, setting up homeowners to fail while collecting large fees at each level.

Universal American Mortgage the lender for Builder Lennar does the same, and it is mandatory to apply for their loan. There are restrictions of discounts only if their lender is used. Their loan advisors are real estate sales persons not financial lenders. It is steering at its best. Then the title company, insurance company, builder, lenders, escrow—all the same. It is really bad.

Gov’t to rate how lenders treat borrowers: AP

Very simple.

 

Posted on Mon, May. 3, 2010

Gov’t to rate how lenders treat borrowers

By Alan Zibel

AP Real Estate Writer

WASHINGTON (AP) – The Treasury Department is planning to rate mortgage companies on how they treat customers as part of the Obama administration’s $75 billion foreclosure relief effort.

The new report will include measurements of how each company is handling borrowers and is expected by July, Treasury Secretary Timothy Geithner told Senate lawmakers on Thursday.

More than 100 companies participate in the program, which is designed to help up to 4 million borrowers avoid foreclosure.

Speaking in unusually strong language, Geithner said many companies “are not responding to the needs of responsible and increasingly desperate homeowners.”

If they don’t comply with the program’s rules, he said, “we will withhold incentives or demand their repayment.”

The program is designed to lower borrowers’ monthly payments by reducing mortgage rates to as low as 2 percent for five years and extending loan terms to as long as 40 years. Mortgage companies get taxpayer incentives to reduce borrowers’ monthly payments. Homeowners have to complete at least three months of payments to qualify for permanent loan modifications.

About 231,000 homeowners have completed this process so far. That’s about 20 percent of the 1.2 million borrowers who started the program over the past year.

Many experts say that’s inadequate. “Families are tragically being foreclosed on when foreclosure was preventable,” said Richard Neiman, New York’s top banking regulator and a member of the independent Congressional Oversight Panel. The panel was set up to oversee the government’s financial bailout programs.

And the number of dropouts is rising. About 155,000 homeowners didn’t complete the initial trial phase. Another 2,900 fell out even after their loans were modified. Many more are still in limbo.

Foreclosure Crisis: New Center for Court Innovation paper reviews responses to mortgage fraud, foreclosure and abandoned property.

New Center for Court Innovation paper reviews responses to mortgage fraud, foreclosure and abandoned property.

Sadler joined by supporters to resist home foreclosure eviction scheduled for…5/3/2010

Stony Ridge squatters
03 May 2010

This in via e-mail from the Foreclosure Defense League, they held a press conference on Sunday May 2nd, at 6:00 p.m., in addition to the below release, FOX Toledo reported on this story (link):

On Monday May 3rd, Keith Sadler of Stony Ridge will be evicted from his home. But unlike many in a similar situation, Mr. Sadler intends to resist his foreclosure and stay in his home illegally.

“I am resisting this eviction through non-violent civil disobedience,” states Sadler. “It’s time to make a stand against this corrupt system.”

Alongside Sadler stands a group of community members from the Toledo Foreclosure Defense League, a Northwest Ohio coalition of housing activists. TFDL is also joined by the national group Take Back the Land based out of Miami, Florida.

Sadler, along with the Toledo Foreclosure Defense League, will be peacefully occupying the foreclosed home by sealing themselves inside until the foreclosure is called off and a moratorium on all foreclosures is enacted.

“Housing is a human right. While banks are being bailed out, people are being thrown into the streets. The time has come to take back our land and our communities,” said Sadler.

Following Sunday’s press conference May 2nd at 6pm, activists will lock themselves inside until their demands are met.

Supporters have set up live streaming video and online content at the following web addresses:

LIVE 24 hour coverage from inside the home:
(link)

Live coverage goes online at 6:00pm Eastern Standard Time at the scheduled press conference. No broadcasts will be made until then.

Youtube:
(link)

Twitter
http://www.twitter.com/TFDLOH

or text “follow@TFDLOH” to 40404