At a Sept. 13 workshop session, city aldermen were presented with options for refinancing debt, which would extend the debt out 13 years, but free up money to spend now on capital projects. These options include freeing up $8.1 million to use for the municipal building project and other needs, such as road and infrastructure improvements, and another would free up $5.2 million to pay only for the municipal building.
COur View: Debt restructure includes pitfalls | Daily Chronicle
Some of the nation's largest mortgage companies used a single document processor who said he signed off on foreclosures without having read the paperwork - an admission that may open the door for homeowners across the country to challenge foreclosure proceedings.
The legal predicament compelled Ally Financial, the nation's fourth-largest home lender, to halt evictions of homeowners in 23 states this week. Now Ally officials say hundreds of other companies, including mortgage giants Fannie Mae and Freddie Mac, may also be affected because they use Ally to service their loans.
As head of Ally's foreclosure document processing team, 41-year-old Jeffrey Stephan was legally required to review cases to make sure the proceedings were justified and the information was accurate. He was also required to sign in the presence of a notary.
In a sworn deposition, he testified that he did neither.
The reason may be the sheer volume of the documents he had to hand-sign: 10,000 a month. Stephan had been at that job for five years.
attorneys working on behalf of homeowners said the setup at Ally was not unusual.
Click on the following for more details:
Ally Financial legal issue with foreclosures may affect other mortgage companies
different story from two weeks ago when an air bubble in the Logan Avenue Administrative Campus’ geothermal system line was believed to be solely to blame for rising temperatures in two offices
board postponed the payment of $5,402 to Richard L. Johnson Associates until October. Then, in a 10-2 vote with Danny Anderson and Marshall Newhouse opposed, the board withheld $18,276 from Rockford Structures, while still paying the group $44,690, which amounts to what was owed to the company for its subcontractors. The claims will be up for payment again Oct. 20.
Click on the following for more details:Boone County administrative building still too hot - Rockford, IL - Rockford Register Star
BELVIDERE (WIFR) -- NDK managers say its part of the cleanup process.
The crane is helping to dispose of vessel contents in the plant's skeleton.
In the meantime, the investigation continues, a chemical safety board report is expected to be complete in March.
Click on the following for more details: NDK Investigation Update
Italian authorities have seized €23 million ($30.18 million) from a Vatican bank account and begun investigating top officials of the Vatican bank in connection with a money laundering probe.
Tuesday's case, police seized the money from a Vatican bank account being held at the Rome branch of Credito Artigiano Spa, according to news agencies ANSA and Apcom. The bulk of the money, €20 million, was destined for JP Morgan in Frankfurt, with the remainder going to Banca del Fucino.
According to the reports, the Vatican bank had neglected to communicate to financial authorities where the money had come from. The reports stressed that Gotti Tedeschi wasn't being investigated for laundering money himself but for a series of omissions in financial transactions.
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Stephen J. Keegan was arrested late Friday afternoon at 1315 Geneva Ave. in Rockford on charges of aggravated battery.
He is being held in the Boone County Jail on $50,000 bond.
Schlichting is co-owner of Schlichting & Sons Excavating.The relationship between Keegan and Schlichting is unknown. Boone County sheriff’s officials failed to return phone calls to the Register Star about the case.
Man arrested in beating of Rockford quarry co-owner - Rockford, IL - Rockford Register Star
Here's a fact that should dominate much of next week's debate over taxes: Letting the Bush tax cuts expire would be just about enough to hit Obama's goal of balancing the budget (minus interest payments) by 2015.
