Wednesday, June 10, 2009

Suburban Chicago home foreclosures continue to skyrocket

Orland Park in the Southwest Suburbs had 14 home foreclosures published in the local newspaper last week, the average weekly foreclosures in that area. In Tinley Park, the home foreclosures are slightly higher and also consistent.

Checking around in other regions, like Berwyn, there were 68 home foreclosures this week alone in the local newsaper. It is a frightening tally to see as homes pop up throughout the suburban Chicagoland area, being confiscated by the banks that bought up scam-like loans offered by sleazy realtors. And there are a lot of sleazy realtors out there who pushed homebuyers into sub-prime mortgages in order for them to make fast cash profits.

They didn't care if you could pay the mortgage off long term or not. They just churned and burned. You signed. You paid. They cashed your check. And many of you are paying again.

Tragic. The US Attorney and the Illinois Attorney General should bring charges against these sleazy realtors, whoa re even worse than the realtors who sparked the White flight and racial hatred sales of the 1960s that pushed many Chicagoans to leave their beautiful homes and land in the suburbs.

-- Ray Hanania

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