A national effort to reclaim vacant properties has one of the country’s largest lenders scrambling.
The financial website Zero Hedge has allegedly obtained a memo from Bank of America’s field services operation warning, “We need to make sure we are all prepared.”
Vocal New York organizer Sean Barry told Raw Story Tuesday that an action known as “Occupy Our Homes” would place foreclosed and homeless families in otherwise-vacant homes. That effort began Tuesday with over 40 events in more than 20 cities.
“On Tuesday December 6th there is a potential nationwide protest planned that could impact our industry,” BofA employee Leonard Pavlov reportedly wrote to BAC Field Services. “We believe the protests will likely take place tomorrow at auction sites, homes that are being foreclosed, homes in the eviction stage and vacant homes.”
Indeed, the Occupy Our Homes movement is hitting the banks right where they hurt, by squatting in foreclosed homes in order to take them back from the banks.
Nick Espinosa, one of the organizers of Occupy Minneapolis, which officially launched Oct. 7, said Minnesota's cold makes it difficult for people to spend the winter outdoors, where the temperature is forecasted to reach a low of two degrees on Thursday just as Hennepin County authorities removed unattended tarps and chairs at the plaza outside the Minneapolis government center, the Associated Press reported.
The numbers at the plaza fluctuate, but they are "dwindling," Espinosa said.
"It makes sense to be indoors but really this is a larger issue," he said. "It's an opportunity for a way to bring what is happening on Wall Street to back to Main Street and to communities most affected by this crisis."
The Occupy folks get out of the cold, and into where the real battle is taking place: America's residential real estate market. It's a maneuver than makes it much harder to evict Occupy volunteers for a number of reasons, and it provides shelter for folks this winter. It's a smart move...and one that has the banks sweating bullets.