October 21, 2008

Good News: Cook County Sheriff Won’t Evict You

meeting Rather, the banks may have to do it themselves. As shown in the Statesman, the Cook County Sheriff refuses to do the bank’s dirty work anymore. While he may face some serious charges and (ironically) jail time, this is tremendous good news for those facing foreclosure in Wilmette, Winnetka, Evanston, and the Chicago area.

The Trib reports that foreclosures “are expected to reach a record high of 43,000 this year, compared with 18,916 in 2006.” That’s a lot of people to put out on the street.

In places where the number of renters is high, it is incredibly bothersome to the police, who must evict tenants who aren’t on the mortgage. Beyond that, it creates a nasty neighborhood atmosphere and puts the anger and misery out on the street for you to watch. You might see why people are calling him an “American Hero” as bad times have hit hard.

Sheriff Dart is making a bold decision, and may set a bad precedent for law enforcement. Some argue that this will allow banks to tighten lending even more, posing a threat to businesses and home buyers who rely on these funds. On the flip side, those high Cook County taxes you may be paying are going straight to the labor of the police, essentially doing the bank’s dirty work.

This isn’t fair to anyone. Except the banks.

I have tremendous respect for Sheriff Dart’s decision–let’s come up with a better plan to fix this crisis!

467 LINDEN St #467
WINNETKA, IL 60093

Price: $342,000
Beds: 2
Baths: 1.1

686 FOXDALE Ave
WINNETKA, IL 60093

Price: $580,000
Beds: 2
Baths: 2

1137 CHERRY St
WINNETKA, IL 60093

Price: $599,000
Beds: 4 On Redfin: 201 days
Baths: 2


Comments (2)

Brendan said:

The eviction halt ended yon Monday.

mike said:

its unfair. The Govt has bailed out EVERYONE except the person that is the lowest on that todum pole, US! For renters, the person owning the house and getting the equity, well, they arent on the street, the renter is. For the homeowner with an ARM, well, enough said. Look at the times.. RECORD setting evictions.. RECORD setting foreclosures.. WAKE UP MR. PRESIDENT AND CONGRESS and give that 800 Billion to the people. There are rouglhy 301 millions americans.. Probably 200 million that are over 18.. 800 billion equates, if divided amongst US, to roughly $250-300k? Can you get your house our of forclosure for that? Can you pay your car off? Get your bills under control? And thats taxable, so the government would get funds back from us..

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