The foreclosure crisis in America is affecting every homeowner not just the ones that are losing their homes to foreclosure. One study in Los Angeles estimated that, between 2008 and 2012, all homeowners will lose $78.8 billion in home values due to foreclosure rates and blighted homes in their neighborhoods. That means that every American homeowner is losing money in equity as a result of the foreclosure crisis. Every time a property is sold at a foreclosed or bank owned discounted price in any given neighborhood it brings down the property value of every property in that neighborhood. So if you think your not effected because your not in foreclosure, think again! The banks are stealing your money every time they foreclose on a property. They are robbing you of your equity, your home is no longer worth what you paid for it and your nest egg… well it is sitting under the butt of the banks.
Many do not agree with the way OCCUPY has chosen to take a stand on foreclosure however one must agree that OCCUPY is getting the attention they intended to get from the banks and the Government. Suddenly the world is listening to the once silenced cry of homeowners as OCCUPY WALL STREET takes the stage. Their method may not be considered “the normal way of doing things” but how many other Americans with the “Ethical” way of doing things have actually stepped up to the plate to take a stand? What the heck are they doing to stand up for their neighbors and friends who are losing their homes? Is there really a way to ethically stand up to an unethical bank?
