Cook County Sheriff Tom Dart announced yesterday that he would no longer be serving foreclosure related eviction notices. With the rising number of foreclosures in Chicago a new problem has surfaced. Many people who rent homes that are in foreclosure aren’t aware of what’s going on and wake up one day to an eviction notice on their door. This is occurring because many landlords are simply not informing their renters that their property is being foreclosed on. In addition, the bank’s policy is that they do not need to inform the renter either until an eviction notice is issued. Naturally, lenders are angry with the sheriff’s move, and are saying that what he’s doing boils down to “martial law.”
Now lets be real, it should be the responsibility of the owner of the property to inform any renters of the fact that they will have to move because the property is being foreclosed upon. However, what’s happening here is that many who are being foreclosed upon seem to disappear. When they realize there is no way out and stop paying the mortgage they wash their hands of all responsibility. Due to this trend someone else needs to pick up the slack. There’s no more recourse for tenants. What are they going to do, sue the landlord who is probably already headed towards bankruptcy. The banks are not stepping up and changing their policies. So in this case the sheriff stepped in. It was a bold move that could certainly have many repercussions for him, but at the same time it was the right thing to do. How many people put their own careers in jeopardy to help others these days. Those who do are usually deemed heroes and in my opinion that is the case here.
Not for nothin’ but aren’t we, the tax payers, the renters of the world, bailing out these banks! Don’t they owe us something, at least the courtesy of informing us that we may get evicted for circumstances that are completely out of our control.
Click here for the full story.