(Source: Open Media Boston)
Continuing an ongoing series of public protests against banks they say are responsible for the unfair evictions of foreclosed owners and tenants living in Boston, about 75 members and supporters of the Jamaica Plain-based City Life/Vida Urbana organization held a loud rally outside the Four Seasons Hotel on Wednesday. Deutsche Bank AG, the transnational financial services corporation based in Frankfurt, Germany, was holding meetings and a dinner party at the hotel in advance of its annual golf tournament this weekend at TPC Boston Golf Club in Norton, MA.
Deutsche Bank is one of the largest banking institutions in the world, and according to City Life / Vida Urbana activists, holder of the most number of foreclosed properties in Massachusetts.
Similar to other banks holding mortgages in default or foreclosed properties in Boston and nationally, in many cases Deutsche Bank denies it is the owner. Housing and tenant advocates along with housing court judges throughout the country are being told that properties are administered “in trust” and not officially owned by these banks.
But finding out which mortgage servicing agents are responsible for negotiating with owners over reductions in principal and/or loan refinancing is proving extremely difficult.
Read Dave Goodman’s full article “Housing Advocates Press Deutsche Bank “To Play The Fairway” On Foreclosures” in Open Media Boston (September 5, 2009).