Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Illinois sheriff may halt evictions

dart.gi.top.jpgCook County sheriff Thomas J. Dart has asked three banks for assurances that their foreclosures are proper. By Charles Riley, staff reporter


NEW YORK (CNNMoney.com) -- The sheriff of Cook County, Illinois says he will stop evicting residents from foreclosed properties unless he is assured that the foreclosures are legitimate.

Sheriff Thomas J. Dart mailed letters to Bank of America (BAC, Fortune 500), JP Morgan Chase (JPM, Fortune 500) and Ally Financial on Friday asking that they provide complete assurance that foreclosures were done properly and legally.

If Dart is not satisfied with their response, he will halt evictions starting Monday.

"I can't possibly be expected to evict people from their homes when the banks themselves can't say for sure everything was done properly," Dart said in a statement. "I need some kind of assurance that we aren't evicting families based on fraudulent behavior by the banks."

Each bank is conducting a review of documents, and all say they have found no improper foreclosures.

Dart previously halted foreclosures in the county, which includes the city of Chicago, in 2008, alleging that tenants were not being properly notified that the home they were living in was in foreclosure.

According to the sheriff's office, the county currently has 500 evictions ready to be served, while another 1,000 are being prepped.

Foreclosures performed by Bank of America, JP Morgan Chase and Ally financial account for one third of foreclosures Dart isn't the only elected official to investigate the foreclosure document mess.

State attorneys general have stepped up pressure on banks in recent weeks after it was revealed that some bank employees had signed foreclosure affidavits without verifying that the documents were accurate, a process known as "robo-signing."

On Monday, Bank of America restarted the foreclosure process in the 23 states where a court must sign off on the proceedings. The company said the first of the new affidavits will be submitted by Oct. 25, and that it will continue its review in 27 other states.

Ally has previously announced that it was temporarily suspending evictions and post-foreclosure closings in the 23 states in which judges must sign off before someone loses their home.  To top of page


Overnight Avg Rate Latest Change Last Week
30 yr fixed3.90%3.89%
15 yr fixed2.96%2.93%
5/1 ARM3.19%3.11%
30 yr refi4.00%4.00%
15 yr refi3.06%3.03%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
  • Find Homes for sale
    Real estate and homes for sale on Trulia

  • Property Type
  • Find a home in: New York | Atlanta | Chicago | Los Angeles
  • Washington D.C | Houston | Philadelphia | More options
Index Last Change % Change
Dow 16,528.03 -114.98 -0.69%
Nasdaq 4,776.51 -51.82 -1.07%
S&P 500 1,972.18 -16.69 -0.84%
Treasuries 2.20 0.01 0.64%
Data as of 10:50pm ET
Company Price Change % Change
Bank of America Corp... 16.34 -0.02 -0.12%
Freeport-McMoRan Inc... 10.64 0.14 1.33%
Apple Inc 112.76 -0.53 -0.47%
Intel Corp 28.54 0.12 0.42%
Ford Motor Co 13.87 0.13 0.95%
Data as of 4:02pm ET

Sections

A conservative think tank is sponsoring a Times Square billboard as a tribune to its opposition to a new minimum wage rule for fast food workers in New York state. More

Blue Apron, Boxed, and Nature Box are worth an estimated $2.5 billion. Their co-founders all went to the same high school. More

How do you run a successful crowdfunding campaign? Indiegogo's CEO Slava Rubin offers his top tips and mistakes to avoid. More

Looking for something good on Netflix? These entertaining films will help you learn more about finance and investing. More