With millions of homes going into foreclosure, there have been allegations that banks are committing fraud. According to many foreclosure victims, banks promise homeowners who have financial difficulties a loan modification with lower interest rates and lower payments. While homeowners are led to believe that banks are willing to work with them, they continue to make their mortgage payments while in reality banks are foreclosing on their houses and selling their homes to investors. After a house has been sold, the bank evicts the homeowners and throws them out on the streets. Since California is non-judicial foreclosure state, which means that local government automatically enforce foreclosures that lenders call for, lenders only need to prove that they filled out the appropriate paperwork to prove their case. Lenders don't need to prove that they actually have legal merits for foreclosure unless they are legally challenged by the homeowners.
Occupy Fights Foreclosure, a subgroup of Occupy LA continues to fight against illegal foreclosures that are currently widespread in the state of California. OFF started the year 2013 by marching and chanting at the annual Rose Parade in Pasadena. The group of activists and victims of illegal foreclosures met at Singer park on January 1st at 6am Tuesday morning to prepare for the parade. They adjusted a 15-foot-high float with "Giant Mr. Monopoly Man" on a wagon and marched the 5 mile route following the Parade. Carlos Marroquin said that the reason for marching at the Rose Parade is not only to protest illegal foreclosure practices of the major banks but also to create public awareness and spread the word about banks' fraudulent actions.
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