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Moratorium... Does not Mean Stop.. Rather It means Proceed with Caution..

By Jack Lewitz

Real Estate Broker/Owner with Exit Strategy Realty

October 13, 2010 05:23 AM

Today I decided to check on the Foreclosure Moratorium in Illinois.

I began my search at the Cook County Sheriff Sale site. This site lists the time and location of all properties up for auction.

Today there are 106 Residential homes ( Single Family, Condominiums, and Townhomes) up for Auction in Cook County.

While this may seem like a tricle it is not a complete halt. The Moratorium on Foreclosures includes the big banks (Chase, BOA, CitiMortgage, and Well Fargo) not the smaller banks.

While some banks see Red light when it comes to the Moratorium on Foreclosures other banks see Yellow and are proceeding with caution.

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Chuck Carstensen

RE/MAX Results - Elk River, MN

Minnesota/Wisconsin Real Estate Expert

I do think we need the listing flow to stay steady. Again just hoping this gets sorted out and I guess everyone needs to proceed with caution.

Oct 13, 2010 05:25 AM

Melissa Zavala

Broadpoint Properties - Escondido, CA

Broker, Escondido Real Estate, San Diego County

Jack: Clarification is important since the media does put a spin on things and people do not always hear what they are supposed to hear.

Oct 13, 2010 05:31 AM

Moratorium... Does not Mean Stop.. Rather It means Proceed with Caution..

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