Proposed Ordinance Could Help Renters, Reduce Vacancies

The video above is a CBS News segment from nearly one year ago discussing the problems foreclosures have caused in Chicago neighborhoods. As we have been discussing this week, foreclosure remains an issue for thousands of families here in the Windy City. However, the problem is not limited entirely to homeowners, as even renters can find themselves displaced when buildings are going through foreclosure.

On July 24, 2012, the Chicago Tribune published a story that described some of the problems 36-year-old Juan Diaz faced in that situation, saying his story "is symbolic of the problems that [the Lawyers' Committee for Better Housing] says are prevalent in Chicago." A community group representative told Diaz that the building he and his family had been living in for five years was in foreclosure. It was after being informed that Fannie Mae had taken over ownership of the building in November that Diaz said he began receiving "unsettling phone calls."

"They kept calling me, telling me I needed to vacate," Diaz told the Tribune. "They were trying to kick me out, and I told them I know my rights and I have three months."

WBEZ-FM reported on July 23, 2012, that Chicago aldermen were expected to introduce an ordinance that week that would help keep renters in buildings through foreclosure. The idea would be to not only prevent more renters from being displaced, but also to avoid even more vacant properties like some of the ones featured in the video above.

While anything that could help Chicago's renters would certainly be a welcome change for many families throughout the city, what about the homeowners still seeking foreclosure help? Our firm can explain how you might be able to either delay a foreclosure process by filing Chapter 7 bankruptcy or possibly save your home by filing Chapter 13 bankruptcy. If you are tired of waiting for foreclosure assistance that never seems to come, contact our firm at (866) 930-7482 to start getting real, proven results today.

Benjamin Brand Services - Chicago bankruptcy attorney

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