Illinois will set aside nearly $1.4 million from the national mortgage settlement to provide legal representation for renters who reside in buildings that may go into foreclosure.
A report from the LCBH revealed one out of every 10 rental units in Chicago has been impacted by foreclosure. Last year, 13,814 rental units were foreclosed on, which is about 5,000 more units than single-family and condominiums, according to the release.
“When an apartment building enters foreclosure, its tenants are often thrown into a kind of legal limbo, where their rights are either ignored or overtly violated,” Madigan said. “Having a legal advocate on their side will help ensure that tenants know their rights and have their rights enforced.”