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Public Affairs coverage from our award-winning staff |
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New Law Helps Illinois Renters in Foreclosure Limbo
Produced by Natalie Moore on Monday, November 02, 2009
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Illinois renters now have a bit of relief if their buildings go into foreclosure.
Housing advocates have long said renters are the hidden victims of the foreclosure crisis.
A new state law just took effect that gives tenants the right to find out who owns their building or who’s in control during the foreclosure process.
Diane Limas is a board member of the Albany Park Neighborhood Council. She says renters have been in limbo – whether it was about repairs or their fate.
LIMAS: When they knew that their building was being foreclosed on, they had no idea who to turn to, who do they ask questions to, how do they know what’s going to happen to them?
Now, the person or entity in charge of the mortgage has to make a good faith effort to contact the renters. If this isn’t done, the right to collect rent is invalidated. California and Minnesota have similar laws.
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M., Lombard // Monday, November 02, 2009 @ 10:54 AM
Foreclosure of rental properties is a Catch 22. When the tenants are notified of the impending foreclosure oftentimes they refuse to pay their rent, spiraling the inability of the landlord to pay the mortgage. It is not all about bad landlords but often times it is the renters/tenants refusal to pay in the first place that causes the landlord to go into foreclosure which upon finding out is yet another reason for the tenant to not pay.
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J.G., south suburbs // Monday, November 02, 2009 @ 12:05 PM
How much time does the landlord have to tell the tenant about the process? Letters were already coming to this property about foreclosure. I called the landlord then he confirmed. Am I supposed to keep paying him now?
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Eleanor McGee, Country Club Hills // Thursday, November 19, 2009 @ 5:49 PM
How much time does the landlord have to tell the tenant about the process? A process server came to the door today with foreclosure papers. Am I supposed to keep paying her now?
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