In Cook County, Illinois, where I live, we have a sheriff, Chicago Democrat Tom Dart, doing essentially the same thing.
If mortgages on homes and apartment buildings aren't paid--lending institutions are forced to foreclose on those properties. Horrible yes, but banks are in the business of making money--and if loans aren't paid--what else can they do?
From NPR Chicago:
Cook County Sheriff Tom Dart says he will resume foreclosure evictions on Monday. The sheriff says he worked out a new process with the courts that is more fair to renters.
Dart says under the new process, banks will be required to provide more information to the court before evicting a tenant. He also says banks will have to prove they informed tenants about the state's 120-day grace period. Dart stopped enforcing evictions last week because he says innocent renters were being victimized.DART: We needed to make sure that people were given their rights. Once they've been given their rights, and that's what we've been assured here, we said 'We will go ahead then.' But until then, we were not going to be party to this, really, it was horrible injustices that were going on.
The Illinois Bankers Association could not be reached for comment. Last week, the group called Dart's moratorium on evictions vigilantism.
Vigilantism that could lead to chaos. See Shays' Rebellion.
I don't follow Dart's logic. If a landlord stiffs his lending institution, then the bank forecloses. If people living there have a lease, I don't see how they can be removed from the premises in a legal manner.
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2 comments:
" don't follow the Dart's logic. If a landlord stiffs his lending institution, then the bank forecloses. If people living there have a lease, I don't see how they can be removed from the premises in a legal manner."
This isn't rocket science, when the bank takes over as a new owner, the lease is voided and despite the tenant paying rent, the are evicted, shafted by both the landlord and the system.
I used to work for what was then the 3rd largest corporate bank and I never would have been so insensate as to say, "What did you expect, banks are in the business of making money" in a situation where people are loosing their homes. Hope that doesn't hurt your feelings
Yeah, I'm not an attorney, but I need more proof...statutes, other cases....
Don't worry about my feelings, I'm a Republican, I have none.
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