Why did they foreclose?

Occupy Atlanta Encamps In Neighborhood To Save Police Officer’s Home From Foreclosure

Occupy Atlanta has repeatedly run into hurdles, as it has been evicted from Woodruff Park in Atlanta multiple times by the city’s unsympathetic mayor, Kasim Reed. Yet the group was invigorated yesterday as it moved to a new location to take action for economic justice.

Last week, Tawanna Rorey’s husband, a police officer based in Gwinnett County, e-mailed Occupy Atlanta to explain that his home was going to be foreclosed on and his family was in danger of being evicted on Monday. So within a few hours Occupy Atlanta developed an action plan to move to Snellville, Georgia on Monday to stop the foreclosure. At least two dozen protesters encamped on the family’s lawn, to the applause of neighbors and bystanders:

Nearly two dozen protesters assembled Monday afternoon at Tawanna Rorey’s four-bedroom home in a neighborhood just south of Snellville, clogging the narrow, winding street that runs in front of the house with cars, vans and TV trucks. Many neighbors stopped to gawk at the spectacle and even honked their car horns in support of the crowd. […] [The protesters] set up two tents in the front yard, draped a “This Home is Occupied” sign over the porch railing and handed out bottled water and granola bars to other members.

The Sheriff’s Department did not come to evict the Roreys that day. A spokesman for the department told the Atlanta Journal-Constitution that the foreclosure process is still ongoing and that it has not scheduled an eviction. “It’s a good cause,” said Diona Murray, one of the Roreys’ neighbors, about the occupation. “If we don’t take a stand, who will?”

I don’t know about you but the first thing I thought when I read this story was “Why did they foreclose?”

I watched the video, clicked through to the original story, and even checked out the posts of the usual suspects who were linking to this story at Memeorandum. Bupkis.

Not one mention of WHY the bank foreclosed.

If you borrow money to buy a house and then fail to repay the loan, what is “economic justice?”

I feel sorry for the family but what is the bank supposed to do? “Never mind, keep the house, don’t worry about the loan!

So Occupy Atlanta camps out there in the people’s yard. Then what?

This entry was posted in Financial Meltdown, Housing Bubble, Occupy Wall Street, OWS, Uncategorized and tagged . Bookmark the permalink.

27 Responses to Why did they foreclose?

  1. DandyTiger says:

    So Occupy Atlanta camps out there in the people’s yard. Then what?

    Unicorns, unity ponies, and rainbows of course. Silly.

  2. myiq2xu says:

    Here’s more from Gwinnett:

    Alam said financial woes began for the family when they were approached by a con artist who promised to facilitate a loan modification with major lenders. Having never missed a mortgage payment in seven years, the family intentionally defaulted in July 2010 in order to qualify for a loan modification, Alam said.

    The process moved slower than expected, and by the third month, a foreclosure notification had been issued, Alam said. A yearlong court battled ensued.

    Frustrated, the family emailed Occupy Atlanta leaders and struck a chord last week. Protestors attended a Friday hearing in Gwinnett Superior Court where the family tried but failed to convince a judge to grant an emergency injunction stopping the eviction.

    “A lot of people are in this situation and don’t know where to turn,” Tawanna Rorey said to a bank of reporters in her front yard. “I’m hoping this turns into something so big that the federal government will begin to ask why this is happening so much in this state, and all over.”

    The property was foreclosed by the previous note-holder, EverHome Mortgage Company, in October last year and transferred to Fannie Mae, court records show.

    Fannie Mae obtained a writ of possession from the Gwinnett County Magistrate Court on Feb. 8, which the Rorey family successfully stalled, and reissued the writ in August. Fannie Mae then scheduled a “lock-out” date for the first week in November, according to court filings.

    The Roreys bought the home in July 2003 for $179,000. The property sold in foreclosure, court documents show.

    Alam said the home is worth about $80,000 less than what the Roreys paid, which made refinancing their loan impossible, he said.

    In an order denying the Rorey family an emergency injunction against eviction, Superior Court Judge Karen Beyers wrote she wasn’t convinced that Fannie Mae lacked the rights it exercised when it sent an eviction notice.

    “(The Rorey family) has also waited until well more than a year to bring this civil action, during which time no mortgage payments were made,” Beyers wrote in an order signed Monday.

    • DandyTiger says:


    • 1539days says:

      Fannie Mae is foreclosing on them? That’s priceless.

      I’m just wondering how much he’ll enjoy living in that house while Occupiers will be going in and out of his house, eating his food, pissing in his yard and fornicating in the closets.

    • DeniseVB says:

      Wonder if the house was underwater ? I think to qualify for Obamabucks, you won’t get help with a refi unless you’re behind on payments.

      My son’s friend gamed the system by walking away from his mortgage, the bank foreclosured, when the bank put it on the market as a short sale, the friend bought it back for way below his original mortgage, or at the actual market value. This process took over a year. This is your economic justice where deadbeats are rewarded 😦

      Unfortunately the “con-artist” must not have explained to the cop, you have to move out.

      • Mary says:

        Great idea from your friend’s son!

        I think what was happening with the Obama/Geithner plan (was that called HAMP?) was people were going in for refinancing, banks told them (per Obama’s plan) they couldn’t help them until they were 6 months behind on mortgage. Some homeowners just stopped paying for 6 months, hoping then to qualify, but bank foreclosed in the 6th month. Many of those homeowners are now contesting, given the bank’s previous advice, per fed program.

        I won’t deny that many tried to game the system, and ended up staying in their houses for a full year or two without making any payment at all.

        But it was the Obama /Geitner plan, with poor instructions, that initiated this stop-paying-for-6-months-to-qualify, scam.

  3. Karma says:

    That cop should be fired for attempting to defraud a mortgage company. Stupid is one thing but they were running a con too.

    Sucks for the kids but I have no sympathy for the parents. And do protesters know the whole story? Or is it just the free camping that is important?

    • 1539days says:

      Probably the first time they’ve been pro law enforcement.

      • Karma says:

        Sad but true.

        You would think treating cops as if they were in the 99% would be the goal instead of conveniently edited confrontation videos. But no, apparently it’s the desire for free stuff is what unites OWSers.

        Since cops and the homeless don’t own the good stuff – they’re disposable.

  4. Lola-at-Large says:

    I dunno, I’m not exactly opposed to this or the Oakland occupy foreclosure property plan. Something needs to be done. It is extremely unfair that banks created this big shitpile of mortgage problems and it really isn’t the fault if financially illiterate people that property values soared as a result of the shitpile being built. If you don’t know, you don’t know. And honestly, HOW could you know? The fuzzy-math engineers of Wall Street really did do everything they could to keep this out of the news until the bubble finally burst.

    And I have a real problem with banks and mortgage companies and the hedge funds, etc making out like bandits over a shitpile they created while main streeters get left holding the bag. If it takes some civil disobedience in the form of not letting the banks get the property by occupying it, I don’t see how that hurts anyone but the banks/mortgage industry (who truly deserve it) and the folks who choose to participate in the process (who will also truly deserve it, that much I agree with). But if it brings pressure to bear and causes some kind of change to happen, then I’m fine with it.

    My 2 cents.

    • Jadzia says:

      I agree with you. My initial reaction to the Atlanta action (notwithstanding the fact that these particular homeowners are not the most sympathetic) was: FINALLY, OWS actually takes a concrete stand on an issue, even if it is somewhat simplistic. Standing with evicted homeowners is somewhat more concrete than “99% good, 1% bad” and “twinkles up!”

      • votermom says:

        My initial reaction was two-fold – one, preventing a single foreclosure is at least something, and two, I sure hope they don’t trash the house.

      • DeniseVB says:

        Good point on ows taking a stand on something, but this may not be the one. The guy’s in default, but they did need a place to camp 😉

        Perhaps they should move to the bank itself ? Oh wait, did the bank break the law? If not, is it a bad, unfair, economic injustice law?

        I’m all for having that conversation 😀

    • Karma says:

      Yeah, I do think the fraud that is still in the system with MERS and the financial games they are still playing needs to be addressed. And it would probably take a nationwide effort to force the issue. Which makes OWS spending time on the dog and pony show of camping such a huge waste of effort.

      And I agree, both sides, the banks and the owners, should feel the pain. But as we’ve all pointed out repeatedly, that takes DC and until OWS gets their targeting systems lined up properly, it won’t happen. Mr Wall St has made that abundantly clear.

      Still there are a lot of people who tried to commit fraud themselves. And I don’t have much sympathy for someone who tried to play with the big boys and got caught with their hand in the cookie jar. Being stupid I have more sympathy for than being greedy.

      A cop who intentionally doesn’t pay his mortgage for a year but can afford to….sorry dude….you knew better. He helped to steal equity from his neighbors by trying to write down that house.

      I bet his family has the coolest gadgets on the block though.

  5. Lulu says:

    This story is troubling in so many ways. Does the Gwinnett County not have a code of conduct as part of the employment agreement of their cops? Where I live law enforcement has to be above reproach in their personal lives and that includes financial problems. They get free legal advise if they run into problems and and are to notify the city or county attorneys immediately to help them avoid stuff like this or they are fired. Not paying their rent or mortgage they are fired. Contacting a protest group for an illegal act would result in firing. Does Gwinnett county have any resources for their employees who get into a jam to advise them how to get out of it? How to file bankruptcy? Are police officers allowed to act out in such an overt political manner with impunity in this county? Does this couple understand he may have ended his law enforcement career? Does Occupy Atlanta understand or even CARE that they are causing even more problems for them? An underwater house is a terrible burden, but acting in a way that looses you your job is not the way to solve it.

    • DeniseVB says:

      My son just went through a short sale for his home in Florida (he was transferred to DC over a year ago, now renting).

      His job as a fed required special permission from his director for the short sale as to not affect his clearance….or his job. He had to hire a real estate attorney to negotiate the sale back to the bank, and finally sold it for 85k under what he owed the bank. Now waiting if that 85k is going to be declared “income” for him, and he’ll have to pay taxes on it. He never missed a payment.

      Had he walked away from his mortage, he would have lost his job.

  6. Lola-at-Large says:

    OT: Turns out the protests of last Friday at that DC convention center was not even an Occupy event, though some Occupy protesters marched and joined them.


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