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Occupy activists in Los Angeles protest foreclosures by US banks


US Occupy activists in southern California have held a demonstration to mark the first-year anniversary of their struggle against the foreclosures of homes by major US banks, Press TV reports.

In a protest rally near a local branch of Wells Fargo Bank in Los Angeles on Friday, the activists expressed anger at the bank’s move to quickly take away the financed homes of financially troubled families rather than offering assistance to them.

They also set up tents near the Wells Fargo branch.

The Occupy Los Angeles activists pointed out that they are making progress in the battle against the foreclosures by the banks.

Occupy activists have been targeting banks for the past year over what they describe as fraudulent foreclosures. They say banks have refused to come to terms with homeowners by denying them loan modifications.

Protesters further reiterate their demand for an end to the fraudulent foreclosures and illegal tactics employed by the banks, which they say continue to harm financially troubled families in California and across the US.

That was the motive behind the establishment of the group Occupy Our Homes by the activists. In addition to protesting the banks’ measures, the activists are also assisting homeowners to avoid eviction.

Javier Hernandez, who received an eviction notice more than 3 months ago, said his family still remains in their home thanks to the help offered by the Occupy activists.

The activists say that it is not only the Los Angeles residents that are getting help from their efforts. Homeowners in other cities such as Oakland and Minneapolis have also won battles against the banks. That is why, the activists say, homeowners must remain united.

More than one million Californian homes have already been lost to foreclosures. Before the housing crisis ends, the state is expected to lose an estimated 700,000 more residential units.

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