• Homeowners in Foreclosure Demand Moratorium on Evictions

    More than 100 residents called on Cook County Board President Toni Preckwinkle and Cook County Sheriff Thomas Dart to place a one-year moratorium on foreclosure evictions during a community meeting held on the Chicago’s West Side on August 9, 2012. As we noted last week, more homeowners in the Chicago area are in need of foreclosure help after the number of notices in July was 37 percent higher than it was in 2011. As lenders continue to clear out a backlog, the number is expected to increase.

    The investigative reporting magazine In These Times reported that Mary Bonelli was one of the residents in attendance at the community meeting. Her family has lived in the same home in Chicago’s Belmont-Cragin neighborhood for three generations, but could now be thrown out by the bank servicing her mortgage.  “I am 76 years old and I’m dying of cancer,” Bonelli said, according to In These Times. “But that’s not the reason I’m here today. It’s because Fifth Third bank is trying to take my house away from me. We moved here in 1958. The bank never told me the house was in foreclosure. … I want to stay in my home. That is why we need a one-year moratorium.”

    Preckwinkle and Dart were both sympathetic, but neither committed to placing a stay on evictions. If you have received a foreclosure notice, filing Chapter 7 or Chapter 13 bankruptcy will trigger an automatic stay that stops most actions against your property. If you are facing foreclosure and want to understand all of the options available to you, contact our firm at (866) 930-7482 or complete the form on this page to set up a free consultation with our Chicago bankruptcy lawyers.

    Benjamin Brand Services – Chicago bankruptcy attorneys