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Politics : Politics for Pros- moderated

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To: FJB who wrote (273114)10/8/2008 2:03:59 PM
From: Alan Smithee  Read Replies (3) of 793978
 
Cook Co. sheriff to stop foreclosure evictions

Let me get this straight...

Borrower defaults on loan.

Bank starts foreclosure.

Bank sells at foreclosure, either to third party or more likely bids in itself and buys the property.

Defaulted Borrower continues living in house and Sheriff won't evict them.

Buyer at foreclosure sale or bank now is a landlord with a tenant who is not paying any rent???
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