Thursday, February 09, 2006

The Business

I feel like friggin Al Pacino in the Godfather, Part III.

Whenever I feel like we are home free from a situation, something (or someone) pulls us back in.

Like these flippin foreclosures.

It’s not bad enough that we had to deal with the deadbeats. It’s not bad enough that we have to diligently deal with property managers and mortgage companies. But now the latest outrage is that a young woman is being threatened with eviction by the new owners of her unit.

Happy new year and hit the bricks.

From what I understand, the young mother received a call last week from a representative of the new owner all but telling her that she must vacate the property in six days.

Now I wasn’t on the phone with her nor did I hear the conversation. In all honesty I got this third hand from another board member after the young woman told him about the call.

I know this sounds a touch Pollyannaish but, Jesus Christ, where has the freaking civility gone in this world?

A young mother now has to find a decent place to live toots sweet because her former landlord didn’t think it was important to pay his mortgage on time.

Like that’s her fault.

This situation also begs the following questions:
Did her former landlord inform her of his foreclosure?
Will she ever receive her security deposit back?
There aren’t a lot of vacancies in Chicago in February much less CHAC vacancies. How will she find a secure, clean and decent place to move in such a short period of time?
If she moves out of her children’s school district, will the children have to change schools mid year?

This is just about the worst news that anyone could receive at this time of the year. That poor woman is just getting the business handed to her---straight, no chaser.

If anyone who’s reading this is an investment property owner, keep this situation in mind the next time you want to play Russian roulette with your mortgage bills.

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