The Keep Chicago Renting Ordinance is the Law of the Land much to the disdain of vultures like Amir Jaffa and Robert Klein, both Orthodox Jews, controlling Safeguard Properties (SGP) in Valley View, OH. The National Association of Mortgage Field Services (NAMFS) and their Head Huxter Eric Miller will probably be disillusioned as well as many of their Members whom hire felons and defraud Contractors are going to begin to feel the crunch. With Miller’s salary consuming nearly ONE THIRD OF THE NAMFS BUDGET — a fact that must make John Ward roll over in his grave — Chicago has drawn a line in the sand. Did we forget to mention that NAMFS Member Safeguard Properties is currently being sued under Federal Racketeering Charges and an enormous multi count Illinois Attorney General Lawsuit? Funny, as Miller and the NAMFS have yet to respond.
Chip Mitchell over on WBEZ 91.5 in Chicago opined, in part,
The ordinance, known as Keep Chicago Renting, won City Council approval in June. It requires the foreclosing entity to provide a building’s tenants with a rent-controlled lease until selling the property — or pay them a “relocation assistance” fee of $10,600 per unit. The goal is to keep renters in their homes and keep the buildings from standing vacant and attracting vandals, squatters and thieves.
We have a call into Chicago Public Media to Interview Mitchell with respect to this as I believe that it is a trend of the future. While the bankers are going to paint a completely different picture; the 1 percenters always do, why should it be that people whom pay their bills get the shaft?
It would appear that the foreclosure process has become more of a land grab and enrichment process for the Banks and Safeguard Properties in particular. Klein, time and time again, has stated he feels the bad properties should be leveled and damn the people in them. Odd stance for a Jew unless one looks at the Israeli Occupation of the West Bank.
We are not talking Eminent Domain, after all, like Richmond, CA. Hari Sreenivasan, over at PBS, has a pretty good Interview on that front.
Richmond Mayor Gayle McLaughlin, a former teacher and member of the Green Party, is on a crusade to stop foreclosures she says have devastated her working-class, predominantly minority community.
Despite rising home prices in many areas of the country, half of all Richmond homes are currently underwater, and nearly 20 percent of homeowners have gone through foreclosure.
Here’s the rub and Foreclosurepedia actually SUPPORTS both the aforementioned case-in-points because we are dealing with arbitrary and capricious factors such as assessments and appraisals. Couple these with inflation and deflation (to truly understand money take a read through the Federal Reserve Board’s Modern Money Mechanics — the Link is to my Private Google Docs Collection and you can download the Original I obtained from a good friend and mentor whom used to be a Governor of the Federal Reserve and is down below).
Our thanks go out to our Anonymous Source whom keyed us to this great piece of legislation!