Many landlords are facing the prospect of foreclosure because they are unable to collect their rent, as a result of the eviction moratorium implemented to protect tenants who cannot afford to pay their rent during the New Crown (CCP) epidemic.
Chicago Neighborhood Building Owner’s Alliance (Neighborhood Building Owner’s Alliance) President Glassr (Michael Glassr) said, “This measure makes a lot of us struggle to pay our bills,” he said, adding that statistics show that from Since March of last year, the total amount of rent owed in the Chicago area has reached $1 billion.
The Illinois Rental Property Owners Association noted that landlords don’t want to evict tenants who are in the midst of an economic crisis, but “we’re finding that too many people are not experiencing new crown distress at all, but are taking advantage of the ban to profit,” the association said. “The association said such behavior should not be allowed to exist at a time when landlords are facing the threat of foreclosure on their properties because they cannot collect rent.
The CDC announced last September the national ban on evictions expired at the end of January this year, after President Biden took office announced an extension to April, and later extended to June 30, a few days ago, a federal district court judge in Washington, D.C., had once announced that the ban on evictions exceeded its authority, but the Department of Justice immediately filed an emergency appeal, the federal court judge softened that day, agreed to suspend the repeal of the ban on evictions.
Grasser said that some of the smaller properties of landlords, after months of struggling to collect no rent, almost all in financial crisis.
Illinois, Governor Pritzker just announced that the order will be extended until the end of May, although this is good news for many tenants, but has not received rent for several months of small landlords, but may therefore face the house by foreclosure crisis.
The Illinois Rental Property Owners Association’s Director of Legal Affairs, Paul Arena, said it’s not a situation the association would like to see where landlords lose their property because they can’t collect rent.
The association took legal action last year and filed a complaint against the court to try to overturn the ban, but in the end was not successful, the association has now filed an appeal and is still waiting for the court’s decision.
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