Supervisors hope to halt foreclosures with new resolution


John Avalos introduced a resolution today urging support for homeowners facing foreclosure in San Francisco. The resolution calls for several actions, including suspending all foreclosures until state and federal measures to protect homeowners are in place.

Sponsors of the resolution Avalos, David Chiu, Jane Kim, Eric Mar, and Christina Olague joined a coalition of community organizations to explain the resolution at a press conference.

The resolution would call for support of a statewide Homeowners Bill of Rights, a series of bills that would address predatory loans and robosigning, as well as California Attorney General Kamala Harris's campaign for a statewide suspension on foreclosures in properties controled by Fannie Mae and Freddie Mac. It also “urges all city and county officials and departments to work proactively to ensure that San Francisco residents do not fall victim to unlawful foreclosure practices,” as Avalos explained.

Supervisors cited a report released in February by Assessor Phil Ting as one of the reasons for the resolution. The report found “irregularities” in 99 percent of foreclosure documents in San Francisco between 2009 and 2011, and “what appear to be one or more clear violations of the law” in 84 percent of cases. 

The resolution's language also names "predatory banking practices that disproportionately targeted racial and ethnic minority communities, especially working class African Americans and Latinos" as an impetus for the resolution, noting that “from 2007 to 2008, Wells Fargo, and mortgage lenders it has since acquired, was 188 percent more likely to put African American borrowers and 117 percent more likely to put Latino borrowers into higher-cost, subprime loans.”

“What we see around foreclosures is that we have a systemic problem,” said Campos. Over 1,000 homes in San Francisco are currently in the process of foreclosure, 

Supervisor Kim connected the issue to another systemic problem affecting San Francisco, that has been a recent topic of discussion at City Hall: family flight. 

“We do have many low-income families that are actually homeowners in the city, primarily in the southeast sector. But how they afford to buy homes is by squeezing often two to three families in these homes in the southeast. So we’re talking about not just one household when we foreclose on a home, we’re often talking about two, three families with multiple youth and seniors,” said Kim.

“This is something that has been an important issue for many of our supervisors across the political spectrum, is how to retain families in San Francisco. Stopping foreclosure has to be a key part of that.” 

A few supervisors congratulated community organizers for focusing on the foreclosure crisis.

“I want to thank Occupy Bernal for not only shedding light on what’s happening in Bernal Heights, but realizing that the foreclosure crisis that we’re facing is something that involves all of us. Every single neighborhood,” said Campos.

The resolution was introduced to the Board of Supervisors March 20. It will be discussed further at the Land Use and Economic Development committee meeting April 2. 

If it eventually passes the Board of Supervisors, the resolution will be non-binding; a citywide foreclosure moratorium is likely not imminent. Yet many supporters expressed urgency and commitment for city action to address foreclosures. 

“When speaking with the sheriff about how we can stop evictions, what struck me most was he said that sometimes when we walk into these homes, we’ve found that people have committed suicide before the sheriffs even come in,” said Supervisor Kim. “This is a life and death issue for many of our residents.”



Generally speaking, it's how I know each time I have him on the run.

Posted by Greg on Mar. 22, 2012 @ 10:27 am

Also, the number of times he uses the term idiot tends to increase as he gets angrier.

Posted by Greg on Mar. 22, 2012 @ 10:36 am

Idiot. Complexity confuses the small libertarian mind. Idiot.

Posted by marcos on Mar. 22, 2012 @ 10:40 am

He's spitting all over his keyboard . .

Posted by Greg on Mar. 22, 2012 @ 10:45 am


Posted by marcos on Mar. 22, 2012 @ 10:57 am

he rapidly spiraled out of contol, devolved and is now rocking in a corner banging his head against the wall and calling himself an idiot :(

boo hoo....

Posted by Guest WHAAA on Mar. 22, 2012 @ 12:44 pm

The poster children they throw up as examples for us to feel pain for have no leg to stand on. They admit they were duped and did not look into the terms before signing. People who bought their home in 1973 and used it as a means to finance pulling money out and still living there with no income to pay back the loan.??? that is just way. The way it works if you want to finance retirement with a house you bought in '73 is that you SELL the paid off house or at the very least for more than the outstanding loans on said home --OK,MENTAL GIANTS! You dont pull money out and use the house for an ATM....

Occupy Bernal is not about helping these morons. For most it is about saving the investment in their own homes-- when the tidal wave of forclosures hits and their property values decline. Please spare me the mockery of this bleeding heart campaign.

Yes, the whole system and banks are to blame as well, but EVERYONE was greedy...not just the banks, the real estate agents, the appraisers and the buyers..everyone!Unfortunately we need to rip off the bandaid and let the market dictate the price of homes according to what people can afford to pay monthly over 30 years and go back to old practices of lending---i.e. investing a hefty downpayment to discourage walking away and only refinancing homes with at least 20% equity....That worked . We need stop artificially propping the problem up, making these useless city resolutions and using stall tactics. Yes, some will win and some will lose, but we cant keep the fakery going...that is what got us here and that is what is extending this problem!!!! Stop the madness!

Posted by Guest WHAAA on Mar. 21, 2012 @ 6:04 pm

True this, one guy was at an OSF action back in November, one that the unions and nonprofits threw so it was really screechy on the PA with activists yelling at people for how racist, sexist and homophobic they were.

Anyway, this one Latino guy from Oakland goes up to speak and says something along the lines of "They should never have sold me a $300K home in West Oakland."

Another said that the "99% rose up in China and threw out the bourgeoisie." Everyone around was shocked at that and said "How did THAT work out?"

This is called leading with your glass jaw and is why labor and the nonprofits have not gained much traction with the public. But that does not mean that the most vulnerable that labor and the nonprofits can't move past are indicative of most folks who have been ravaged by the real estate serialization induced economic collapse.

Posted by marcos on Mar. 21, 2012 @ 8:06 pm

Calling "GREG" and his racist clique. No response. To busy working on the "Free George Zimmerman" site.

Posted by Patrick Monk RN on Mar. 21, 2012 @ 7:57 pm

The issue is one of race! 40 years ago you couldn't get a loan in communities of color but, with the advent of asset securitization predatory loans became abundant in these communities. Why? Because banks through asset securitization found a way to mitigate their risk...

Also, the pent up demand for quality financial services which led to many homeowners refinancing their home was due to redlining. If it was one or two predatory loans in communities of color I would say that those folks made a bad decision but, considering the fact that many seniors were sold these loans it's clear that the banks preyed upon many vulnerable people. If I was a bank executive I would market my predatory products in communities of color where you have the highest rate of homeownership and equity.

Finally, it was Bill Clinton who abolished the Glass-Steagall Act that started the deregulation of the financial services industry and George W. Bush that put pedal to the metal! Why? Because each saw the opportunity to grow the economy using debt and while leaving the 99% holding the bag....

Posted by Guest on Mar. 21, 2012 @ 8:17 pm

The race card? come on' now, you can do better than that. *yawn*

Posted by Guest WHAA on Mar. 22, 2012 @ 5:04 am

the race card then, er, don't play the race card.

Posted by Greg on Mar. 22, 2012 @ 6:19 am

(Feel free to skip musical interludes - maybe enjoy at you leisure)
I was initially gonna react, but after a second reading am responding.
Can't really tell 'which side you are on', but that's OK, the reality is 'we' have always been on the same side, the loosing one, even though to many have been duped for to long into believing they were somehow 'special'.
The truth is that the Masters have always made the rules, for the 'wise' men and the fools; divide and conquer has always been a primary tactic; total control and subjugation their prime objective. They are perilously close to realising their goal, though all their policies will leave them with is scorched earth.
(Are you sensing a pattern here - 'Play it again Sam')
We may well be approaching the end of days, who knows, I sure don't, but at my age I don't expect to be on stage for the final curtain, but that does not mean that I'm gonna quit fighting back, though it increasingly feels like a David versus Goliath confrontation.
However I would suggest that as individuals there is one small pebble we can still sling.
It was pretty effective against South Africa and Apartheid. We should encourage and support efforts to establish locally owned and controlled municipal banks, and bank transfers to local credit unions. While I may have many other fantasies and schemes (to numerous and suspect to divulge publicly) this is one action we can all take. Just one suggestion, I have never had a secret chart to get me to the heart of this, or any other matter (cue music)
My hope is that all those younger than I, and still responsible for guiding the next generations, pay heed to the sentiments and guidance in this final song from some of the old farts who sung to me in my youth.
Yeah, I know, by now it's either STFU or Encore.
Closing words.

Posted by Patrick Monk RN on Mar. 21, 2012 @ 9:50 pm

There IS no side to take. All parties were greedy. All parties, from lenders, buyers and all in between. The housing crisis,--- It's a mess that needs to shake out naturally --I'm not arguing for any side. I am arguing for non- intervention and the artificial propping up of the market. I'm for letting what people actually can afford to pay dictate the housing market and prices. I don't believe in 'predatory loans' . When you sign a document you need to understand what you are signing... If you don't, get a lawyer to review. If you can't afford a lawyer, then don't sign, you can't afford the insurance to protect your home and investment, that is the truth. I love how a dissenting opinion is right wing. If anyone who knew me knew I was being called right wing they would laugh. I'm simply for ending this as fat as possible. All the faux manipulation of the housing market got us into this mess and only the further non manipulation of the market will quickly get us out.

By the way, please try to make sense in responses to me . Also, I would never click on a link in a post, so don't bother to try and explain your point through posting links.

Posted by Guest WHAA on Mar. 22, 2012 @ 4:09 am

I am not sure what makes Patrick Monk qualified to talk about the mortgage crisis. He's lived in the the same rent controlled flat for multiple decades - yet never managed to save up to purchase something.

Posted by Greg on Mar. 22, 2012 @ 6:29 am

considers his greatest lifetime achievement to be that he managed to cling to a rent-controlled rathole for decades.

When all ambition deserts a man, he becomes a mad monk swatting imaginary bugs in his twilight years.

Posted by Greg on Mar. 22, 2012 @ 6:55 am

Mayor Lee's actions has demonstrated where his priorities lie for San Francisco. He's faster than a ferret in publicly burning Sheriff Ross Mirkarimi. But as far as helping keep SF citizens in their homes and fighting a foreclosure process tinged by big bank fraud, he makes a snail look like a Ferrari.

Posted by Peter on Mar. 22, 2012 @ 9:47 am

oh now we have another one. This is how this started. Mayor Lee has no power here. These are federal banking and regulation laws--...what is he supposed to do as a city mayor...? The naivity here is astonishing...are you serious?

Posted by Guest WHAAA on Mar. 22, 2012 @ 10:09 am

Did you have a fun Knight ride last night. Better bleach that hood.

Posted by Patrick Monk RN on Mar. 22, 2012 @ 1:20 pm

We're in a national economic crisis that has been mishandled by our government at every turn. More than half of CA's homeowners are now underwater or effectively underwater. Once you are underwater, foreclosures are caused by "life events," which include: illness/injury, divorce, and job loss/prolonged unemployment or under-employment.

If some of you are thinking that people losing homes today are "irresponsible borrowers," you are just not thinking correctly. Our economic meltdown began five years ago. People losing homes today didn't do anything irresponsible... they are victims of the worst economic meltdown in 80 years.

Think it couldn't happen to you... think again.

Posted by Guest Mandelman on Mar. 23, 2012 @ 2:46 am

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