10th Street Duplex - Occupy Oakland

Government mortgage giant Fannie Mae owns the duplex on 10th street. Organizers with Causa Justa :: Just Cause, the primary movers behind taking it over, said they selected it to highlight how Fannie Mae leaves its vast stock of foreclosed inventory vacant, contributing to neighborhood blight.

Indeed, the property had sat vacant for several months while it was offered for sale.

A local couple are in contract to buy it, however, and escrow was set to close this week.

“We invested our savings to purchase this property so the earnings can go into our infant daughter’s college fund,” said one of the buyers, who asked to withhold her name for fear of retribution. “We believe in rallies and marching to bring attention to political beliefs, but breaking and entering is not acceptable.”

Told of the upcoming sale, Guidry said the house wasn’t habitable because of gas line and plumbing issues.

“We are in possession of this house and planning on not going” anywhere, he said. “The federal government needs to find them another house that’s suitable for a family to actually live in instead of giving them a house at the bottom of the barrel.”

Adam Gold, co-director of Just Cause, said the group’s research had not shown that the house was in escrow. Gold said he thought the couple should e-mail the people in the house to set up a time to talk to them “and see what the situation is.”

Fannie Mae, which is still the legal owner, confirmed that the house is under contract.

“In cases where foreclosure cannot be prevented, it is important to find a new owner for the property as quickly as possible,” Fannie Mae spokeswoman Keosha Burns said in a statement. “Any action or event that attempts to delay the sale of a foreclosed property destabilizes the neighborhood and hinders marketing recovery. We will work with local officials to remove anyone who is inside our properties illegally.”

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