Thursday, October 09, 2008

Chicago sheriff won't evict foreclosure victims

Meet Sheriff Dart, one of the good guys. He finds out that banks have been sending his sheriffs to throw out renters...

"We were completely surprised," Maria said. "We've always been on time. We paid our rent."

Never missed a rent payment, they said, but they and others in the building were going to be evicted because the building's owner had stopped paying the mortgage - then fled the country.

Sheriff Dart: no way I'm throwing those people out.

Dart is suspending all foreclosure evictions until the banks take two basic steps in court.

So here's how it works: Let's say you own a building and rent someone an apartment. They've paid the rent faithfully but you don't pay the mortgage and face foreclosure. The bank has to indicate they live there and give them sufficient time to look for another place to live.

Dart says an ideal time is four months.

Pretty simple, huh?