Kicking a family out of their house because of unreasonable interest rates and greedy bankers is surely a human rights issue. Does it call for extreme/non-violent action, like squatting your own home??
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Why don’t people use squatting rights if their house is up for repossession by the bank?
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Because you are trespassing and if you trespass, you will do your squatting from jail, which means your family will either be on the street because you can’t care for them, or they may be split up because children may become state wards and you will have to go through a custody hearing to prove you can care for them.
You need to think this out somemore before you do something you regret.
It takes a number of years, 7 to 20 for a squatter to claim any rights. Even at that the squatter has to be paying the property taxes, which the banks will not be neglecting.
People are not being kicked out by greedy bankers. You seem to be forgetting it is the “family” that was given a large sum of cash to buy a home. The one with the cash is the greedy on. They are refusing to repay that money to the bank, the bank is the victim of the greed, not the other way around.
Every borrower picks their own loans, picks their own interest rate. If they think the interest rate is not reasonable they have the option of not taking that lenders money.
Because there is no such thing as “squatter rights” in the US any longer….now it’s called adverse possession, which does not apply in the case of foreclosure.
Because there is no such thing as ‘squatter’s rights’. If you refuse to vacate the premises, the authorities will arrive and PHYSICALLY put you out of the premises, barricading the doors to prevent your return.
This isn’t a human rights issue. Those who borrowed monies to purchase properties which they cannot afford are just as guilty as are those who loaned them the monies. Everyone signs a mortgage contract. It is their responsibility to understand that the interest rates COULD increase to a level beyond that which they can afford.
The bunch of liberal morons always believe the leftist news that spew lies about everything (including global warming, what a crock of s***t!).
I’m a realtor and sold many homes to families in the last 2-4 years, when the only requirement was that you had a pulse in order to qualify for a loan.
Do you know why that came to be? Of course not! It’s because the leftist legislature mandated that the banks lend money to low income families, otherwise they will be in trouble! The banks had no choice, and had to reduce the requirements to qualify for a loan. I still have a letter from Wells Fargo that their requirements for a sub-prime loan was a FICO credit score of 560, and they accepted “stated income” on the borrowers application. Stated income means that if you are a clerk in a gorcery store making $40,000/year you can put on the application that you are making $80,000, or whatever you wanted, because they did not verify income!
My clients begged me to find a lender who will give them a loan at any cost or interest. They just wanted to buy a house now (2005-2007). The lenders had them sign a form (Truth in Lending Act) that clearly outlined the payments for the first 2-3 years on an ARM (Adustable Rate Mortgage) were low to allow them to buy the house, but the reset will be much higher, so they better prepare to be able to make the new payments.
They all said they don’t care about 2-4 years in the future, they just want the house now!
The rest is history!