Portland, Oregon Protest Thread (Burns, Wheeler: section 8, real estate market, high school)

[karlsch]

The owner of the Red House in the autonomous zone has offered to sell it back:

“Ozeruga, the real estate investor, said he fears for his family’s well-being because of the protest activity. “I myself am a father of little kids,” he said. “I don’t have a publicity team or even a lawyer for this. I’m concerned for safety to be honest.””

““We are a small family business, we don’t seek to hurt anyone of course,” said Roman Ozeruga, who bought the home at a foreclosure sale in 2018 for $260,000. “

The whole story: https://www.koin.com/news/national/i...hed-sell-home/

[redguard57]

Originally Posted by StreetBobTX

What exactly are they protesting?

Predatory lending practices and gentrification.

[ccjarider]

Originally Posted by redguard57

Predatory lending practices and gentrification.

Riiiight
Because the lenders made the family's kid to stupid illegal activities and then forced the family to borrow $ to bail him out.

There is no such thing as "predatory lending". People voluntarily enter these contracts.
It is a Fake issue as are most of alleged societal ills the Portland scumbags whine about.

[redguard57]

Originally Posted by ccjarider

Riiiight
Because the lenders made the family's kid to stupid illegal activities and then forced the family to borrow $ to bail him out.

There is no such thing as "predatory lending". People voluntarily enter these contracts.
It is a Fake issue as are most of alleged societal ills the Portland scumbags whine about.

https://www.oregonlive.com/portland/...re-twists.html

They were in distress. The kid had gotten into a car accident and needed to pay the legal bills for their son, and were looking for any way to do it so they took out a sub-prime high variable interest loan on the house, which before they had owned outright. And they were paying their bills until 2017 when their loan got sold and two companies claimed to be their servicer and have them send payments. It was foreclosed and now is owned by a developer who stands to triple his investment if he can sell the house for its market price of $700k that he paid $260k for.

Of all the things they complain about, this is one I strongly concur. That whole North Portland area is in the process of turning into a yuppie enclave. Should have been protests about this type of thing a long time ago and in a lot of places besides Portland.

Looks like the son is in charge now. He claims the loan should be cancelled due to some kind of indigenous loophole, but sounds like he's been spending the last 3 years throwing legal spaghetti at the wall to not pay the loan (that sounds like a familiar legal strategy to me, hmmmm...).

The son now has a GoFundMe account with $300k in it. Seems to me a resolution would be to allow him to use that money to purchase the house back from the developer who won the auction, who has indicated he's willing to sell it back for what he paid. If I were the son I would then turn around and sell the house for market price.

[mathlete]

Originally Posted by redguard57

https://www.oregonlive.com/portland/...re-twists.html

They were in distress. The kid had gotten into a car accident . . Looks like the son is in charge now. He claims the loan should be cancelled due to some kind of indigenous loophole . . .

He ran a stop sign and killed an 83 year old man and injured his wife. The "loophole" is sovereign nation status for his family property that exempts them from U. S. law.

I agree with the predatory lending claim. The financially naive parents were taken advantage of under duress.

[redguard57]

Originally Posted by mathlete

He ran a stop sign and killed an 83 year old man and injured his wife. The "loophole" is sovereign nation status for his family property that exempts them from U. S. law.

I agree with the predatory lending claim. The financially naive parents were taken advantage of under duress.

Probably had no or minimal auto insurance I suspect.

[redguard57]

Originally Posted by curiousoutsider

Could we please gentrify my neighborhood? I wouldn't mind my property value dramatically increasing.

Here, you can see how it affected these people: https://youtu.be/vMZYiv_jf2U

[ccjarider]

Originally Posted by curiousoutsider

They might be forced to live in their 2nd home they own. One man's gentrification is another man's desegregation.

You gonna blame that on some other entity to?

[ccjarider]

Originally Posted by curiousoutsider

Blame what? The fact that they have a 2nd option, so they aren't really going to be homeless as portrayed by the protestors? I'm not sure I understand what you are saying.

Sorry my mistake. I must have clicked wrong post.

Intent was to comment on redguard's insufficient insurance post.

[jbgusa]

Originally Posted by redguard57

Probably had no or minimal auto insurance I suspect.

The laws in the autonomous zone have no requirement of insurance for drivers. Their courts don't either.