Foreclosure Investors and the Occupy Movement: Why You Need to Act Fast- By: Jacquelyn Marks
Foreclosures are a good thing from an investor’s point of view. The previous owners of the property, however, view foreclosures quite differently. There is much anger, grief, frustration and other nasty feelings involved here. A movement is capitalizing on these emotions, and is slowly turning its attention to foreclosed properties around the nation.
That movement is the Occupy Movement
You as a foreclosure investor need to start watching out for it whether you sympathize with the movement or not. Here are a couple of the more important reasons you need to act fast and act smart if you want to make money from foreclosure deals:
Occupy Movement is starting to become a political machine
The Occupy Movement used to be a large, headline-grabbing protest movement without a solid direction as a group. Members would just sit down and protest myriad issues, from poverty to unemployment to homelessness. Then the groups were forced off the parks and streets and told to go elsewhere. This resulted in the movement becoming smaller and less prominent than it used to be. The movement, however, is now looking to become a political entity instead of an aimless mob of protestors. The new face of the movement has narrowed down its focus into four main issues: unemployment, household debt, student debt and foreclosures. The Occupy Movement itself does not hold much political clout at the moment, but it could gain enough traction in the future to make investing in foreclosed properties a bigger pain than it should be.
Occupy Movement is stirring up emotions against foreclosures
Foreclosures have always been a constant side effect of people who take out mortgages on homes, but don’t have the capability to follow through with their responsibility as homeowners. The recession of ’08 and its fallout have, however, caused foreclosures to hit the roof. It didn’t help that big banks and law firms resorted to robo-signing to hasten the foreclosure process, nabbing sevreal innocent homeowners in the process. This has put foreclosures in the spotlight, with almost all homeowners who foreclosed painted as victims of a faulty and greedy system and investors as heartless vultures who prey on the suffering of these victims. If this perception starts to become rampant across the country, you can expect to face more and more homeowners who are hostile towards the idea of foreclosure.
Occupy Movement encourages the “occupation” of foreclosed homes
As part of its campaign efforts, the Occupy Movement is taking the initiative to put some people back into homes they were forced out of. While the movement generally elects to support homeowners who claim to be current on their payments, the implications of such heavy-handed actions are quite easy to manipulate. How can the movement be absolutely sure that the homeowners being back by the movement are absolutely faultless and that the banks don’t have a legal basis to evict the previous homeowner? The worst-case scenario is you buy a piece of property with an “informal settler” occupying the property and refusing to budge thanks to the support of the Occupy Movement.
The Occupy Movement may be at best a good dose of reality for our stagnating government and at worst a collective rabble of troublemakers who are trying to get what they want by force. Whatever the case may be, foreclosure investors will need to act fast and keep a sharp eye out for the movement’s presence in the local communities.
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