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Darkimbolc
10-09-2008, 08:18 AM
Looks like a revolt of sorts is already starting...
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Sheriff in Ill. county won't evict in foreclosures
http://apnews.myway.com/article/20081008/D93MFL900.html

CHICAGO (AP) - Residents of foreclosed properties in Chicago and other parts of Cook County don't have to worry about deputies forcing them out. Sheriff Tom Dart says that starting Thursday his office won't take part in evictions.

Dart says he's concerned that many of the people being evicted are renters who were unaware that their landlords have been failing to pay their mortgages. He says his deputies have no way of knowing whether they're removing someone who has defaulted on a loan or someone who has been faithfully paying rent.

Dart says he thinks he's the first sheriff in a major metropolitan area to stop such evictions during the ongoing foreclosure crisis.

Dart says the number of mortgage foreclosures in Cook County has skyrocketed and will probably keep rising.

flourbug
10-09-2008, 08:40 AM
He brings up a good point. There's no shortage of investors who pocketed 50-100k on a house, rolling them over and over to each other, all the while collecting rents. When they milked the property for all they could get out of it, the house went into foreclosure. But they collected rents all through the foreclosure process.

It would be a good idea for banks, HOAs, groups like Habitat for Humanity, etc, to make those renters home owners. As long as they have a solid history of paying their rent, issue a mortgage with similar payments in their name.

rryan
10-09-2008, 09:21 AM
He brings up a good point. There's no shortage of investors who pocketed 50-100k on a house, rolling them over and over to each other, all the while collecting rents. When they milked the property for all they could get out of it, the house went into foreclosure. But they collected rents all through the foreclosure process.

It would be a good idea for banks, HOAs, groups like Habitat for Humanity, etc, to make those renters home owners. As long as they have a solid history of paying their rent, issue a mortgage with similar payments in their name.

Sounds sensible---and does not require the govt---never happen.

Teal
10-09-2008, 10:51 AM
He brings up a good point. There's no shortage of investors who pocketed 50-100k on a house, rolling them over and over to each other, all the while collecting rents. When they milked the property for all they could get out of it, the house went into foreclosure. But they collected rents all through the foreclosure process.

It would be a good idea for banks, HOAs, groups like Habitat for Humanity, etc, to make those renters home owners. As long as they have a solid history of paying their rent, issue a mortgage with similar payments in their name.

This is way too logical to ever happen.

Ramius31
10-09-2008, 01:28 PM
There is a simple and legal remedy to this situation. A lease provides legal protection for the leasee that must be observed even if a bank forecloses on a property. If a leasee is presented with a foreclosure order, they can bring a copy of their lease to their sherrif's department to stop eviction.

Chicago politics at it again..... I feel sorry for the community banks and credit unions getting screwed because once again elected officials are choosing not to obey the laws of the land.

Ought Six
10-09-2008, 06:17 PM
"Dart says the number of mortgage foreclosures in Cook County has skyrocketed and will probably keep rising."Now that homeowners know they will not be evicted for non-payment.... YA THINK ?!?

Fiddlerdave
10-09-2008, 07:04 PM
There is a simple and legal remedy to this situation. A lease provides legal protection for the leasee that must be observed even if a bank forecloses on a property. If a leasee is presented with a foreclosure order, they can bring a copy of their lease to their sherrif's department to stop eviction.

Chicago politics at it again..... I feel sorry for the community banks and credit unions getting screwed because once again elected officials are choosing not to obey the laws of the land.Not in Colorado or in California. The leasee can pursue civil compensation in court from the landlord from the street. Lawyers tell me most other states are the same.

New Jersy is the one exception. Most foreclosures do not terminate a renter's agreement, although the bank etc. can terminate in legal fashions as if they were the original landlord.

The billions to be spent by foreclosure eviction renters moving is just one more cost to the real estate boondoggle. Mix that with the ever more likely loss of their job, its a real sorrow.

Haellan
10-09-2008, 11:25 PM
Chicago politics at it again..... I feel sorry for the community banks and credit unions getting screwed because once again elected officials are choosing not to obey the laws of the land.



As I feel bad for these unsuspecting tenants, Sheriff Dart is in contempt of court. He is violating a court order.

He never had any real law enforcement experience.

Haellan
10-10-2008, 02:49 PM
http://www.cnn.com/2008/POLITICS/10/10/campbell.brown.chicagoforeclosure/index.html?eref=rss_topstories

Commentary: Sheriff's actions show desperation of financial crisis
Story Highlights
Illinois sheriff puts a moratorium on all foreclosure evictions

Campbell Brown says things are getting desperate for a lot of people

Brown says sheriff's actions show how badly we need national leadership

By Campbell Brown
CNN
Editor's note: Campbell Brown anchors CNN's "Campbell Brown: Election Center" at 8 p.m. ET Mondays through Fridays. She delivered this commentary during the "Cutting through the Bull" segment of Thursday night's broadcast.

NEW YORK (CNN) -- In the middle of the mortgage crisis, with literally thousands of people being evicted from their homes this month alone, a sheriff in Chicago is making quite a name for himself.

Cook County Sheriff Tom Dart has announced that for the foreseeable future he is not going to evict anyone else from a home banks have foreclosed on.

How come? He's fed up.

He says what is happening more often than not is that when his officers show up at a home, they find the people there are not the homeowners, but renters who have been paying the rent on time and had no idea the owner had fallen behind on mortgage payments. Watch Brown "Cut Through the Bull" on "Election Center"

These are families with children, and the first they heard of their eviction was when officers appeared at the door. So Sheriff Dart just said, "Enough."

Now, I can't support vigilante justice. I think our law enforcement officers should enforce the law. But is there some gray area here?

The law in Illinois says people have to be notified well ahead of time when they are going to be evicted.

The banks are supposed to contact these people, find out who lives in these homes and do their due diligence.

Dart says the banks aren't doing this in all cases; he says they are not meeting their obligation. So he put a moratorium on all foreclosure evictions, and the banks are trying to have the sheriff held in contempt.

You can decide who is right or wrong here, but the fact is things are getting desperate out there for a lot of people.

Families are being literally kicked to the curb. And our national leaders, our politicians in Washington and our presidential candidates don't seem at all close to figuring this out.

There is an absence of leadership right now, and the actions of Sheriff Dart are yet another example of just how badly we need it.

The opinions expressed in this commentary are solely those of the writer.