11:48 am By Jennifer Woodard Maderazo · economy · Comments Off
28 Oct 2008I appreciate that mainstream news sources are finally reporting on the stories of people who lose their homes to foreclosures. It’s well past time, especially considering that home foreclosures are reaching Great Depression levels.
I dunno though, this CNN clip irritated me. For one thing, the voice over was smarmy–I was reminded of a Saturday Night Live skit through the whole segment.
Along with the smarmy voice over there was the way the woman was presented–as sort of a sad screw up that we can laugh at. That is, what sort of screw up that runs a business on how to prevent foreclosures gets foreclosed on??
Since the segment didn’t more closely examine the woman’s profession as it connected to her foreclosure status, it gives the viewer an easy way to explain her foreclosure status: she’s just a bad business woman (and a slightly comical one at that). Or, on other words, it’s not that foreclosures could happen to anybody and we all should be worried about it–it’s that people in foreclosure didn’t read their papers closely enough and somehow thought they were above making mistakes.
I’m still waiting for the day when a mainstream news source will compassionately and with *nuance* examine the effect of the foreclosure crisis on U.S. citizens. Something tells me that I’m gonna be waiting a while.
7:52 pm By Jennifer Woodard Maderazo · economy · Comments Off
16 Oct 2008
It’s not just home owners that are facing eviction these days. Apparently by some cruel twist of capitalistic fate, people who are renting are facing increased evictions because of the mortgage crisis–landlords are not paying their mortgages on time and rental properties are being foreclosed on as a result.
Tita Mendoza and her husband moved into their Miami Beach condo in June and have been dutifully paying the $1,800 rent on time every month. And yet, they could be evicted any day now.
Last month, the Mendozas were served with court papers notifying them that their landlord was being foreclosed on, meaning the couple could be turned out on the street.
One of the only good things about this mess is that some people with hearts are standing up and doing the ethically correct thing:
Last week, Tom Dart, the sheriff in Chicago’s Cook County, drew the ire of landlords and lenders everywhere when he announced he would no longer send his deputies on court-ordered foreclosure evictions because many of the people being turned out on the street were tenants who had faithfully paid the rent.
On Thursday, Dart announced that his deputies will resume taking part in foreclosure evictions next week, but only with stringent legal safeguards worked out with the courts. Among other things, a bank that is foreclosing on a property must prove it informed all tenants of a state-mandated grace period designed to allow them to look for new housing.
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