Chicago sheriff says no to enforcing foreclosures

CHICAGO, Oct 19 (BestGrowthStock) – Two of the largest U.S.
mortgage servicers have said 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 (BAC.N: ),
JPMorgan Chase and Co. (JPM.N: ) and GMAC Mortgage/Ally Financial
until they prove those foreclosures were handled “properly and
legally.”

Bank of America, the largest U.S. mortgage servicer, and
GMAC, on Monday both announced rollbacks from their foreclosure
moratoriums.

The announcement by Cook County Sheriff Thomas Dart comes
after weeks of damaging accusations of shoddy paperwork that
may caused some people to be illegally evicted from their
homes.

“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 the statement.

“I need some kind of assurance that we aren’t evicting
families based on fraudulent behavior by the banks. Until that
happens, I can’t in good conscience keep carrying out evictions
involving these banks,” he added.

Bank of America, GMAC and JPMorgan Chase along with their
subsidiaries, make up around a third of the roughly 3,700
eviction orders filed at the Cook County sheriff’s office, the
statement said.

The foreclosure controversy, which has drawn public outrage
and sparked government probes, has threatened bank earnings and
the health of the fragile housing market.

Two years ago Dart refused to carry out foreclosure
evictions in cases where renters apparently had not been
informed that they were about to be evicted from buildings in
which their landlords had fallen into foreclosure.

Some 20 Cook County sheriff’s deputies execute around
14,000 foreclosure and rental eviction notices every year.
(Reporting by Nick Carey, editing by Leslie Adler)

Chicago sheriff says no to enforcing foreclosures