Living the Life in Lightfoot's Chicago
Section 8 coming to 3225 W 111th Street?
I doubt it.
Can you be specific about where you are getting that information?
Don't count it out to much. Building was just sold and current tenants are told they are being evicted to make way so all the units can be rented as section 8. Dumpster is on the side of the building for the work.
If building owners wants to rent to section 8, it is my understanding that they have the right to do that, even though we don't like it. I don't think it can be prevented, unfortunately. Anyway, aside from rumors, what does anyone here KNOW FOR A FACT about a building going section 8 on 111th Street? I am posing this question to the commenter above especially. Who are the building tenants that were told that they are being evicted in order to rent to section 8? Who is the building owner? Do you have the owner's name? Since you are anonymous, if you know what you're talking about, you should feel comfortable posting this owner's name. I'm not saying the scenario isn't possible, I'd just like to hear something more concrete. Nothing on this thread comes close to convincing me.
This is the second time I've heard this rumor in the past two days. Is this actually true? There has to be a way to stop this. Burglaries will skyrocket if this happens.
Hopefully, Ald. OShea will issue a statement clarifying the status of the building.
There are an awful lot of cheap houses on the market in MG. Less than $150k for 3 bdrms. Here they come! Get the moving vans ready.
Much worse than that. I seen a 4-bdr in Beverly listed at 80k. I have seen one on Western, I think a 3-bdr, for 30k (sold right away). There's one right near me for 100k on the market; it needs a lot of work though. I just do NOT understand - why throw people out of their homes, create a surplus of vacant/abandoned property, and depress the total market? I do not agree with this at all, but a friend of mine said it was to destroy the middle-class whose real estate values were creating wealth (equity) for them. So much is "invested" in the home. Entire communities have been uprooted because of the fraudclosure crisis. Fix the damn loans; let people keep their asset. Preserve the community.
If you do not pay your mortgage then the agreement you signed says they have the right to take your home. That is not "fraudclosure" as you put it. The fraud is when someone purports to be able to afford a home and promises to repay. When they don't pay who is the fraud?While some fraud exists in every single facet of life, you cannot conclude that the record foreclosures are a result of fraud. It has been shown that those unable/unwilling to pay their mortgages and who DO get to modify their loan - a huge percentage are right BACK where they were before (late or not paying) they got the mod. Your numbers on Beverly homes are seriously cherry picked and do not in any way reflect the current market of typical homes in the area.
Just because they are cheaper now doesn't mean the neighborhood is going to go downhill. It is much harder to get a loan than before, which will have one effect of keeping the riff raff out. Stop fear mongering.