20 October 2010

We Are Going to See More of This

The Cook County Sheriff has issued a statement that he and his deputies will not enforce foreclosures until he receives documentation from the banks that they have their sh%$ together:
Two of the largest U.S. mortgage servicers have said they will resume home foreclosures, but a big-city sheriff has news for them: he won't enforce their foreclosure evictions.

The sheriff for Cook County, Illinois, which includes the city of Chicago, said on Tuesday he will not enforce foreclosure evictions for Bank of America Corp, JPMorgan Chase and Co. and GMAC Mortgage/Ally Financial until they prove those foreclosures were handled "properly and legally."
While the Cook County Sheriff has been here before, he instituted a moratorium over lack of notifications to renters 2 years ago, but I think that this time, there is a distinct possibility that this will go viral, and that other county sheriffs will follow his lead.

Basically, this is a political winner for almost any incumbent charged with foreclosure service.

The standard disclaimer, that my powers of prediction suck wet farts from dead pigeons, apply.


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