CHICAGO, IL – November 4, 2010 – (RealEstateRama) — The office of Congressman Bobby L. Rush (D-IL) released the following statement regarding today’s Sun-Times article on an alleged lawsuit filed by New City Bank. This amended statement, though given to the reporter after being reached for comment after 8 PM Wednesday, read in part:
“This is the first time the Congressman has heard of this matter having been informed of this by the Chicago Sun-Times [on Wednesday night]. Neither he nor his attorney has been served with legal documents of any kind as it pertains to New City Bank and his properties. The facts as presented by the Sun-Times are puzzling. However, we know that the mortgages on both properties are totally current and that whatever the case may be with the property taxes the congressman was not aware of any dire situation by Cook County. He will get to the bottom of this matter at the start of business [today.]
“Unlike many Americans who cannot pay their mortgages the congressman’s payments are current and up-to-date. However, this story highlights the escalating problem that millions of Americans face everyday—the callous and often times, extreme, non-negotiable practices of some banks that have contributed to millions of families in Chicago and the nation losing their homes. This story comes at a time when federal agencies are investigating banks’ foreclosure-documentation process after some financial institutions indicated they would suspend or review foreclosures because of unethical practices.”
Contact:
Sharon Jenkins
Washington, DC Office
(202) 225.4372
Stephanie Gadlin
District Office
(773) 224.6500
