Nexus of Change

Toward Sustainable Habits and Durable Prosperity

Occupy Atlanta Enforces Anti Predatory Lending Policy

In a society where risk takers reap the rewards but are protected against losses, it is nice to hear the President of the country express concern about predatory lending and illegal foreclosures. Unfortunately, nothing is done about it, or nothing was done until the Occupy movement got involved to save homes from rapacious shenanigans. In the fall of 2011, Eloise Pittman had been living at 404 Glen Iris since 1953 when she was notified that Chase Bank began foreclosure proceedings on the home where she, her daughter and granddaughter were living. She died two weeks later.

In 1996, Eloise Pittman borrowed money from a predatory lender that inflated the value of her home to concoct a high commission loan that could never be repaid. On January 12th, after several weeks of occupation of the Glen Iris home, Chase decided to allow the Pittman family to renegotiate their loan. Occupy Atlanta will not celebrate until papers are signed. Pressure on the bank escalated yesterday, January 14th, with a huge display of solidarity.

>Carmen Pittman’s Passionate Speech to Stand Up for Our Communities

7 comments on “Occupy Atlanta Enforces Anti Predatory Lending Policy

  1. karla929283
    January 15, 2012

    If your bank is attempting to foreclose on you, there is a good chance that this could be a wrongful foreclosure and that the bank may no longer possess the title to your home due to their blatant disregard for following proper securitization guidelines.
    You can learn about many of these topics @

    • healthlifelaw
      January 16, 2012

      Who is really regulating the banks? CHASE bank is using illegal tactics in an attempt to move my home to foreclosure, by fabricating a fake letter to the Comptroller of Currency that it actually approved a loan modification and that I refused the offer-all lies. I am appealing CHASE’s pack of lies to the Comptroller of Currency. I encourage all persons who are dealing with banks regarding loan modification or related issues to keep scrupulous records of any communications with the banks-there is nothing like evidence that can expose the underhanded practices of these big corporations.

  2. Pingback: Predatory lending revisited « Timothymccandless's Weblog

  3. Pingback: BASIC PROVISIONS OF FINANCIAL CODE § 4970 « Timothymccandless's Weblog

  4. Amy Barnes
    February 19, 2012

    Cobb County cannot even enforce its laws on Bank-Owned proerties due to the MERS private recording system fiasco. MERS is on so many titles and there was so much origibnation fraud that the whole system needs to be gone through and repaired. There is a cloud on almost every title out there in some states.

    Grr. The greed of the banks has costed us our country. Our dgovernment ahs been taken over by the bankers – Goldman Sachs executives had ZERO criminal charges while Bernie Madoff was sent to prison for his schemes.

    When are we gonna see some REAL justice?

    • Steve Osborne
      February 19, 2012

      Oh, and what did Martha Stewart go to jail for again? Ridiculous.

  5. Tom Henry
    May 22, 2012

    Even if we shout and protesting about this thing, if there’s no law that protects us from this loan sharks then nothing will happen.

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