The Face Of Foreclosure?

Scarier than any haunted house on Halloween.

A few weeks before Halloween, I headed south on Sherman Avenue and, just before I reached Main Street, I noticed a house on the west side of the block that seemed poised for trick-or-treaters quite a bit earlier than the rest of the neighborhood.

Upon closer inspection, I realized the house was not, in fact, trying to look scary.

It simply was.

Ivy crept across the particleboard-sealed entrance and along the porch ceiling, giving the building an eerie sense of foreboding.

I live in the Nichols Neighborhood, where an email listserve is often used among residents to share news – and the occasional frustrations – about things going on concerning our section of town. I’ve seen complaints about Sherman Avenue over the past year or two, mostly regarding properties that haven’t been kept up to respectable standards, but I hadn’t recalled hearing about an abandoned-looking brick two-flat with menacing shrubbery.

I don’t know the owners of this property, nor have I spoken with any neighbors.  Perhaps this home is simply undergoing a major renovation project from the inside out, with the front entrance sealed until a beautiful, brand new door arrives from the factory.

Yet to me, this is the ubiquitous image of the U.S. economy, right here in our own little town, one block north of Main Street.

Jim November 04, 2011 at 02:41 PM
Lesson: Always live below your means as an individual and as a country and only vote for persons who share that philosophy. Otherwise learn to accept scenes like these.
Lonnie wilson November 06, 2011 at 02:32 AM
Whats sad is as always when economic issues worsen it almost always hit and hurts most at the bottom, the face of foreclosure is black and brown! The difference here is it was a theft as African American wealth was cut in half by the shear greed of banks, and other financial institutions! a 100 year old world famous Black community has been decimated by this greed( Evanstons 5th ward) and what do we get in return? the city and developers bragging about the gift of NSP2 from HUD, well has anyone noticed the Blood on the ground of 100s of Black family's that can no longer live here after their elders wiped butts to own the homes that were lost!! What will all this lead too? displacement of guess who?
Christine Wolf November 09, 2011 at 02:32 PM
Or, how about this? Instead of blame, let's work together to put things back together. Republicans, Democrats, Independents, Blacks, Whites...we're ALL Americans. Wish we'd all start acting like it.
Michael November 09, 2011 at 11:11 PM
Mr. Schulte - Would you be so kind as to please share with us the percentage of loans underwritten pursuant to the CRA that are in default and compare and contrast that data with the percentage of loans underwritten outside of CRA (i.e., private loans) that are in default. After you've done so, please let us know whether you still believe the CRA "screwed up the economy with the sub-prime loans."
Allie Payne November 10, 2011 at 12:15 AM
I dont know situation with that particular house, but banks should make it easier for howeowners to rent their homes. This would keep a lot of homes from being boarded up or vacant. Vacant houses are an eyesore and a crime risk. Also, many foreclosures are not due to sub-prime loans. Many people who would like to stay in their homes find it impossible to get a loan modification or forebearance from the banks. Banks also make it hard to do a short sale. The real estate market would be greatly improved if banks, instead of cutting staff, hired more employees in their short sale departments, and loosened the modification requirements.


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