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Proposal would get abandoned houses back on market quicker

SPRINGFIELD — Abandoned homes that dot some suburban neighborhoods because of foreclosure could be put up for sale sooner under a new proposal in the state legislature.

The plan would streamline how foreclosures are handled in court to let banks take control of abandoned houses more quickly.

Now, because of court delays, it could take a bank more than 500 days to take control of an abandoned house and prep it for sale. A plan backed by some suburban Republicans would reduce that to 90 days.

“Many communities feel abandoned buildings are not only an eyesore, but attract a negative element to the area,” said state Sen. Pamela Althoff, a McHenry Republican.

The plan was approved by an 8-1 vote in a Senate committee this week and sent to the full Senate for further debate.

Houses would have to meet certain criteria to be considered abandoned, like smashed-out or boarded-up windows.

“Abandoned foreclosed properties are a blight in any community and trying to expedite the process when they're truly abandoned makes sense,” said Sen. Ron Sandack, a Downers Grove Republican.

The lone vote against the plan came from Sen. Michael Noland, an Elgin Democrat, who expressed concern about the potential costs to local communities to pay for mortgage agents, local law enforcement or other county officials who will have to declare the property abandoned.

“Communities have to send their people out on their own their own dime,” he said.

Bank officials refuted concerns that a house that wasn't actually abandoned could be declared so.

“It does it in a way that safeguards the owner, so in no case is a place that's not completely abandoned being subject to this legislation,” said Bruce Baker, a vice president at Illinois Bankers Association.

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Ron Sandack
Pam Althoff
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