For those of you who don’t know about the Publisher – in a previous life, he was involved in creating software for the Mortgage banking Industry.  After twenty-some years in that market, he has been reconnected to that industry.

According to Rob Chrisman, who authors a wonderfully entertaining and informative newsletter for the Mortgage Industry…

Kenneth Harney recently wrote a piece focusing on deals falling out because of a low appraisal. “Lenders unilaterally may be lowering the numbers on the appraisals submitted to them in order to avoid accusations that the loans they sell to giant investors Fannie Mae or Freddie Mac are based on inflated appraisals – even slightly inflated. Such value inflations can expose lenders to dreaded “buyback” demands, forcing them to repurchase loans at huge costs.” But starting tomorrow Fannie Mae is prohibiting lenders who sell it loans from changing appraisers’ numbers – lenders must contact appraisers to “resolve” any disagreements about the valuation. “If that’s not possible, they should order a second appraisal – not just chop the value supporting the real estate contract.” Freddie has yet to weigh in.

From Mary Esther Hernández the Executive Director of the Cicero Chamber of Commerce & Industry:

The Cicero Chamber of Commerce and Industry is looking to crown the next 2010 International Houby Queen at its 42^nd Annual Houby Festival that runs from October 1 through the 3, 2010.

To be eligible, a young woman must be between the ages of 16 and 21, be unmarried , be currently enrolled in school or will be in the fall, and either work or reside in Cicero, Berwyn, Lyons, Riverside, North Riverside, Stickney, Brookfield or Oak Park.

This is an opportunity for candidates to earn some scholarship money for school and take part in a great community tradition that will connect them with a strong network of businesses and individuals.

Anyone interested in signing up or in finding out more information can visit the Cicero Chamber of Commerce website at www.cicerochamber.org. Applications are now available online.  For any other questions or information, please contact the Cicero Chamber directly at (708) 863-6000.

Business owners and residents who flooded may be eligible for low-interest disaster recovery loans.  These loans are guaranteed by the Illinois State Treasurer. A declaration of a disaster by the Governor made business owners and residents eligible for the Opportunity Illinois: Disaster Recovery Loan Program, which offers below-market interest rates for storm victims who finance their repairs through participating local lenders.  Under-insured business owners and residents may qualify for low-interest loans with repayment terms of up to five years.  Residents who expect insurance to cover their damages also may qualify for one-year bridge loans with interest-only payments; these loans are designed to be paid off when insurance or aid comes through.  For more information on Opportunity Illinois, call 866-523-0641 or email opportunityillinois@treasurer.state.il.us.

Chicago Police have become aware of a potentially deadly game children are playing that may result in death or near-death experiences. In the “choking game,” participants attempt to experience a euphoric feeling by temporarily depriving the brain of oxygen by applying pressure to the neck until they pass out. Parents may seek information about risks associated with the choking game to help prevent children from playing the game.

• Strange bruising or red marks around the neck
• Bloodshot eyes
• Bed sheets, belts, T-shirts, ties, or ropes tied in strange knots and/or found in unusual places
• Visiting Web sites or chat rooms mentioning asphyxiation or the choking game
• Curiosity about asphyxiation (asking questions like “how does it feel?” or “what
  happens if?”)
• Disorientation and/or grogginess after being alone
• Locked or blocked bedroom or bathroom doors
• Frequent, often severe headaches
• Changes in attitude; becoming more aggressive
• Wear marks on furniture (bunk beds or closet rods)

If parents believe a child is playing the choking game, speak with the young person about the life-threatening dangers associated with the game and seek additional help if necessary.

If you have any questions about the “Choking Game,” call Area 5 Detectives at 312-746-8282.

The Economy is so bad, I ordered a burger at McDonald's, and the kid behind the counter asked 'Can you afford that with fries?'.

According to the latest Wall Street Journal/NBC poll, conducted this month, only 34% of poll respondents think the economy will get better in 2011—13 percentage points less than last September.