Chase a slumlord?
This story makes sense; Chase forecloses on a multi-tenant building and then owns it, or is responsible for managing it if the mortgage had been sold as a CDO. For two years Chase does absolutely nothing to keep the property up and it ends up in such poor shape that the city condemns it and kicks all the tenants out.
The story began over 2 years ago when foreclosure proceedings began. This Saturday, July 17th 2010, the residents of 7263 S. Coles will be homeless. JP Morgan Chase has been responsible for maintaining this property since 2008. For two years Chase hasn’t honored its responsibility, and the building deteriorated to such a degree that the City stepped in and ordered residents to vacate the property this coming Saturday (July 17th). The tenants will be put out on the street.
Update: Here is some video of the tenants protesting their eviction.
Bad bad Chase | admin July 14, 2010
