Brooklyn, NY. 10/15/2011 1:06:11 AM
News / Law

Nine protestors arrested in New York at foreclosure auction

Shortly after 3 pm on Thursday, a Brooklyn judge announced the court would be auctioning off foreclosed homes and was ready to take bids. But instead of receiving bids the court was disrupted by more than a dozen people intent on disturbing the auctions, according to the New York Times.

The group, borrowing protestors from Occupy Wall Street, began a chant demanding justice for those facing foreclosure. There are a large number of justified foreclosures, but there are also many people subjected to the unethical practices of banks, who are fighting eviction by hiring a foreclosure attorney.

The protest was staged by a community group called Organizing for Occupation, a coalition of housing advocates, who helped an 82 year old woman avoid foreclosure because of unjust subprime loans. The group demanded that the court halt foreclosure proceedings until the state passes laws to aid homeowners instead of benefitting financial institutions.

Subprime loans are one of the contributing factors to the current housing crisis. These loans can become so costly that loan holders are unable to make their monthly payments and therefore face foreclosure. In some circumstances, a foreclosure lawyer can help these individuals modify their mortgage loans.

The protestors were warned to clear the courtroom or face arrest. Some of the protestors left willingly, but others stayed behind. By 3:30, the remaining protestors were handcuffed and led out of the courtroom. They were charged with disorderly conduct and given a summons.

The foreclosure crisis has impacted millions of homeowners across the country; some individuals have utilized foreclosure attorneys to be their voice in court.