Another rainy day in the City

Daley to target home foreclosures
Tribune staff report
August 19, 2007
CHICAGO - Speaking about the increasing number of home foreclosures in Chicago and in the nation, Mayor Richard Daley said Saturday that the city hopes to compile a list of people who lost their homes to foreclosures, in an effort to try to help them.
"We have to take a list of all of them, get all the mortgage companies and have to try to build their lives," the mayor said at a news conference announcing a new principal at Harper High School in West Englewood. He did not specify what the city would do with the list.
Chicago had 34,818 foreclosures, or one filing for every 88 households, for the first half of 2007, according to RealtyTrac, which publishes foreclosure information.
The mayor said the increase in foreclosures is a national problem and faulted the federal government for not regulating the issue.
"Where was the federal government on this?" he said. "They completely failed."

Parents are able to check their children's driving recordsGov. Rod Blagojevich signed the proposal into law earlier this week. It goes into effect Jan. 1. Secretary of State Jesse White applauded the effort.

"By giving adults access to these driving records, we are giving them a tool to keep them more involved in their teenagers' driving patterns as they proceed through the graduated driver licensing program," White said in news release.

This is just one of several laws targeting new drivers. If approved, those laws would require teens to spend more time behind the wheel to qualify for a license and then restrict when they can drive with it and how many other teens can be with them.

This is the state's second shot at trying to make parents aware of their child's driving habits. Under Illinois law, there's nothing requiring that parents be notified when a new driver begins racking up violations.

Prodded by Buckner's situation and others like it, lawmakers created a pilot program in the late 1990s that was supposed to send out notices to the registered owner of the vehicle so, in theory, parents would know when their children get tickets. But the experiment met with resistance because of the amount of work put on the counties and lack of funding from the state.

The latest effort attempts to remedy that by turning to the Internet. The Illinois House and Senate approved it this spring without a vote of opposition.

Buckner believes parents will do an effective job self-


  1. SP Biloxi said...
    I heard about the foreclosure problems in Illnois. There was an article that I read about the housing market that ranked Illnois as one of the state with high number of foreclosure. Witn Baloneybitch cutting 500 million in the budget and focus on healthcare, it is differcult for the state to deal with foreclosed homes.

    By the way, thanks for the congrats. I enjoy your blog. And you provide great info into the problems with CC. ;D
    KittyBowTie1 said...
    Sorry. Lots of those foreclosures were because there were variable interest rates, balloon, flipping, buying second houses as investments, buying houses bigger and newer than necessary (who needs four bathrooms for a family of three?), etc. There are some broke people out there but there are lots more dumb people out there trying to make a buck who did not educate themselves.

    I have a FIXED interest rate. I drive a used car. I don't mind helping out the poor with my taxes but I have a real problem helping out the stupid and greedy with my taxes.
    SP Biloxi said...
    And also people who maxed out on their equity who take about second, third, fourth, and so forth loans to keep up their lifestyle. And it simply keeping up lifestyle, kittybowtie. A large number of people regardless of their income [from $10,000 to 1 million] are financially strapped. My concern is the wiping out of the middle class which is the heart of the economy and buying power which is in the 95 percenters. Many folks either don't want to educate themselves or completely in denial to prepare for future. Taxes will go up and inflation will continue to rise and the government will not help anyone for their financials future. Most folks have to understand that in order to live any comfort lifestyle, you have to create a cashcow that continues to grow without your effort regardless if there is a good or bad economy. The government is not going to teach that and neither is the Gerbil. The Gerbil wants to keep people broke both financially and intelligently.

    So, I have learned the hard way on the world of finance. I too have a fixed interest rate. And the only bills that are the regular bills for the home. The car is paid off. And the house is the only liability that I have.

    With all of the problem that we have for the foreclosed homes, I fear that we will be flipped the bill.
    KittyBowTie1 said...
    Well, let's see. Under Daddy Bush, we had Neil Bush and the BCCI scandal that sent stocks into the sub-basement (I think hell is in the sub-basement). Then we had W. Bush and the Enron and WorldCom scandal. And, another four years of him and we get the mortgages free-fall. When will people learn that any president with the name BUSH means the stock market will eventually TANK?????

    Now, none of those events were caused by Saddam, the oil prices, or anything else other than self-inflicted U.S.-caused greed.
    SP Biloxi said...
    "Now, none of those events were caused by Saddam, the oil prices, or anything else other than self-inflicted U.S.-caused greed."

    Yup, you are right...

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