New York Activists Blockade Foreclosure Auctions to Stop Banks Selling Homes

By Sarah Jaffe, AlterNet
Wednesday, July 18th, 2012
That's on the wall of the courtroom, room 224 in the Kings County Supreme Court House, Brooklyn, where each Thursday, foreclosed homes are sold at auction. In fact, in each of the five boroughs of New York City, each week, there's a foreclosure auction. There's no fanfare and little drama most of the time; it's a clubby atmosphere, a bunch of people who seem to know each other making small talk, passing papers back and forth with descriptions of the homes up for sale.

It's not an official court proceeding, so when the auctioneer comes in he doesn't sit in the judge's chair to read out the rules for the auction (which include the necessity for winning bidders to have 10 percent of their bid available right away in cash or as a cashier's check, which sheds a new light on some of the backpacks and briefcases in the room).