Militant Tactics to Prevent Boston Foreclosure Homes for Sale

The City Life/Vida Urbana, an organization of housing activists, has taken on militant strategies to prevent the spread of Boston foreclosure homes for sale. Members of the group have chained themselves to foreclosed properties in an effort to force banks to do their share in preventing the foreclosure crisis.

A recent move by members of the group involved taking over a bank-owned property in order to make a statement. Members claim that they have the moral right to occupy and live in the renovated house with four bedrooms which was foreclosed by Guaranty Bank due to the failure of the homeowner to meet his mortgage payments.

The group said that it is about time for banks to do their share of alleviating the impact of foreclosure. They suggest that banks should help troubled families remain in their homes rather than putting them out.

Housing activists across the country have adopted several aggressive militant tactics to show the culpability of lenders in the foreclosure problem. Though illegal, City Life’s unusual tactic of preventing Boston foreclosure homes for sale has gained positive results.

Guaranty Bank told the group that it will sell the foreclosed property to the nonprofit lender, Boston Community Capital. The lender specializes in the sale and rental of bank-owned properties in Massachusetts.

Jerry Levy, chairman of Guaranty Bank, explained that he does not support nor condoned trespassing. But he said that the bank is willing and eager to settle the issue.

According to industry experts, the Guaranty Bank foreclosure home is one of the abandoned and vacant properties in the area that the Boston Community Capital has attempted to buy to either sell or rent back to its former owner.

Boston Community Chief Executive Officer Elyse Cherry said that she signed some documents to buy the Guaranty Bank property. She added that the goal of the organization is to stabilize and strengthen properties in neighborhoods severely hit by foreclosure problem.

Despite its initial success, City Life said that there is still no plan for a similar occupancy protests. But the strategy is part of the group’s campaign to shift the focus from individual homes to communities and neighborhoods.

For the meantime, the group has formed a partnership with the Bank Tenants Association that has as its members owners of foreclosure houses.