Thursday, February 26, 2009

Banking Symposium





TIME: 10:00AM UNTIL 2:00PM





6th Ward March Monthly Meeting

We, at the Chatham Avalon Park Community Council, are proud to announce that the 6Th Ward Monthly Meeting for March, 2009 will be held on March 12, 2009 at the St. Paul Missionary Baptist Church, 6954 South Union, at 6:30 PM. Members from the Department of Housing and the 7Th District Police will be in attendance talking and taking up topics of interest to our community. You may also visit our website at

Monday, February 23, 2009


FYIsubject: Fwd: Re: BURRIS
It appears that a new LOW ceiling is being created for black elected officials. For those of you who hold elected office, the status quo is now saying that you will never get back the Illinois State Senate Presidency nor the U.S. Senate seat.

It may be time for a black elected official's summit in Cook County. Until you guys go behind close doors as a whole group and come out on the same page, they will continue to pick you apart.

I applaud Congressman Rush for having the courage to speak out and not be afraid of being black. Regardless of the Burris outcome, Rush solidified his mark in the pages of black political history with his bold move of being pro black and pro Roland.

The Westside/Southside division amongst black elected officials must end now. The fight should not be between each other but against the common enemy. I applaud Alderman Lyle and Delmarie Cobb for embracing Roland and sending a clear message that we are all under attack, elected officials and regular black folks.

Let's Fight Back,

Sean Howard

In a message dated 2/21/2009 4:42:12 P.M. Central Standard Time, writes:
Roland Burris wanted the Senatorial seat and talked to everyone who would listen once it became obvious that Sen. Obama had a chance to win the Presidency. In fact when he would hear discussions about possible replacements he would get upset when he did not hear himself mentioned. Thus he talked to people on the street, his friends and personal network and anybody else he came in contact with about his interest in the seat. During one of many fundraising drives for the former Governor he was asked to raise or contribute money for the Governor. He donated a thousand dollars (and don't quote me on this figure) but in the terms of Gubernatorial fundraising efforts it was deminimus. The Governor's brother later solicited money and Burris initially said ok. After the Governor was arrested he told the Governor's brother he could not raise or give him any money because he was interested in the seat and it would be a conflict of interest. If there are taped conversations and they verify his version, they will not be released to the media. If there are taped conversations that disprove his version they would have been released already.

As of today, no one has accused the Senator of any crime. They suggest he committed perjury because he did not fully disclose when he had a chance to do so. While in the Impeachment hearing however, he said he would be submitting a supplemental Affidavit, which he did on Feb. 5. For reasons having nothing to do with him, the contents of the Affidavit were not released until 8 days later to the Sun Times. Then in his usual and problematic style he tried to explain the alleged inconsistencies, each time stating some new tidbit and further fueling the fire. Which brings us to this point. Roland's problems are not legal, they are perceptual. Now that the Trib has brought down the Governor and has undermined any goodwill that existed for Pres. Stroger they are feeling their oats and have Sen. Burris in their sights. In fact, the Trib went so far as to incredulously state ' you don't need to wait for the evidence or read the transcripts, we did it for you and we say he must go'. After an article/editorial implying that if you disagree with what they said, you must be either crooked or crazy, they ask the readers to vote on whether the Sen. should be kicked out of office. Talk about manipulating public opinion!

I personally don't remember asking the Trib or the Sun Times to think for me, but if it works for them, then I guess somebody did. If they are successful in their latest venture then they will forever control the plight of the Black elected official, because we have no media (at least none on a daily basis) through which we can fight back. Who will be next? We however need to be clear that there is another agenda at work here that has nothing to do with good government or Illinois' reputation across the World.

Freddrenna M. Lyle

Although nothing was been proven, that would imply Senator Burris has been less than forthright, we are in still supportive of our Junior Senator.

Blog Question

In regard to the Senator Roland Burris case. which laws are we following, those in England or those in the United States? Post your comments on the comment line and voice your views.

Daylight Savings Time

Remember, Daylights Saving Time begins at 2 AM on Sunday, March 8, 2009. Set your clocks one (1) hour FORWARD.

Digital Television Dateline Pushed Back

The deadline for conversion to digital television has been moved back to June 12, 2009. For those residents with rabbit ear reception, please obtain a coupon for a digital converter box for your TV. Customers of cable and satellite television need do nothing as the change-over is automatic.

Chatham Food Market to Reduce Hours

Chatham Food Market, 327 East 79Th Street, will beginning March 15, 2009, reduce its open hours to a new schedule, 7 AM to 12 AM midnight, with extended hours on the 1st and 17Th of the month for Link Card recipients of 7 AM to 2 AM. Please take note that this store will no longer be open 24 hours, beginning March 15, 2009.

Thursday, February 19, 2009

Homeowner Affordability and Stability Plan: Executive Summary

The deep contraction in the economy and in the housing market has created devastating consequences for homeowners and communities throughout the country. Millions of responsible families who make their monthly payments and fulfill their obligations have seen their property values fall, and are now unable to refinance at lower mortgage rates. Millions of workers have lost their jobs or had their hours cut back, are now struggling to stay current on their mortgage payments--with nearly 6 million households facing possible foreclosure. Neighborhoods are struggling, as each foreclosed home reduces nearby property values by as much as 9 percent. The Homeowner Affordability and Stability Plan is part of the President's broad, comprehensive strategy to get the economy back on track. The plan will help up to 7 to 9 million families restructure or refinance their mortgages to avoid foreclosure. In doing so, the plan not only helps responsible homeowners on the verge of defaulting, bu prevents neighborhoods and communities from being pulled over the edge too, ad defaults and foreclosure contribute to falling home values, failing local businesses, and lost jobs. The key components of the Homeowner Affordability and Stability Plan are:

1. Refinancing for Up to 4 to 5 Million Responsible Homeowners to Make Their Mortgages More Affordable
2. A$75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners
3. Supporting Low Mortgages Rates By Strengthening Confidence in Fannie Mae and Freddie Mac

1.Affordability: Provide Assess to Low-Cost Refinancing for Responsible Homeowners Suffering From Falling Home Prices Enabling Up to 4 to 5 Million Responsible Homeowner to Refinance: Mortgage rates are currently at historically how levels, providing homeowners with the opportunity to reduce their monthly payments by refinancing. But under current rules, most families who owe more than 80 percent of the value of their homes have a difficult time refinancing. Yet millions of responsible homeowners who put money down and made their mortgage payments on time have--though no fault of their own--seen the value of their homes drop low enough to make them unable to access these lower rates. As a result, the Obama Administration is announcing a new program that will help as many as 4 to 5 million responsible homeowners who took out conforming loans owned or guaranteed by Fannie Mae or Freddie Mac to refinance through those two institutions. Reducing Monthly Payments: For many families, a low-cost refinancing could reduce mortgage payments by thousands of dollars per year: Consider a family that took out a 30-year fixed rate mortgage of $207,000 with an interest rate of 6.50% on a house worth $260,000 at the time. Today, that family has about $200,000 remaining on their mortgage, but the value of that home has fallen 15 percent to $221,000--making them ineligible for today's low interest rates that now generally require the borrower to have 20 percent home equity. Under this refinancing plan, that family could refinance to a rate near 5.16%--reducing their annual payments by over $2,300.

2. Stability: Create A $75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners Helping Hard-Pressed Homeowners Stay in their Homes: This initiative is in tented to reach millions of responsible homeowners who are struggling ton afford their mortgage payments because of the current recession, yet cannot sell their homes because prices have fallen so significantly. Millions of hare-working families have seen their mortgage payment rise to 40 or even 50 percent of their monthly income--particularly those who received subprime and exotic loans with exploding terms and hidden fees. The Homeowner Stability Initiative helps those who commit to make reasonable monthly mortgage payments to stay in their homes--providing families with security and neighborhoods with stability. No Aid for Speculators: This initiative will go solely to helping homeowners who commit to make payments to say in their home--it will not aid speculators or house flippers. Protecting Neighborhoods: This plan will also help to stabilize home prices for all homeowners in a neighborhood. When a home goes into foreclosure, the entire neighborhood is hurt. The average homeowner could see his or her home value stabilized against declines in price by as much as $6,000 relative to what it would otherwise be absent the Homeowner Stability Initiative. Providing Support for Responsible Homeowners: Because loan modifications are more likely to succeed if they are made before a borrower misses a payment, the plan will include households at risk of imminent default despite being current on their mortgage payments. Providing Loan Modifications to Bring Monthly Payments to Sustainable Levels: The Homeowner Stability Initiative has a simple goal: reduce the amount homeowners owe per month to sustainable levels. Using money allocated under the Financial Stability Plan and the full strength of Fannie Me and Freddie Mac, this program has several key components:

A Shared Effort to Reduce Monthly Payments:For a sample household with payments adding up to 43 percent of his monthly income, the lender would first be responsible for bringing down interest rates so that the borrower's monthly mortgage payment is no more that 38 percent of his or her income. Next, the initiative should match further reductions in interest payments dollar -for-dollar with the lender to bring that ration down to 31 percent. If that borrower had a $220,000 mortgage, that could mean a reduction in monthly payments by over $400. That lower interest rate must be kept in place for five yea4s, after which it could gradually be stepped up to the conforming loan rate in place at the time of the modification. Lenders will also be able to bring down monthly payments by reducing the principal owned on the mortgage, with Treasury sharing the costs.

"Pay for Success" Incentives to Servicers: Servicers will receive an up-front fee of $1000 for each eligible modification meeting guidelines established under thin initiative. They will also receive "pay for success" fees--awarded monthly as long as the borrower stays current on the loan --of up to $1,000 each year for three years.

Incentives to Help Borrowers Stay Current: To provide an extra incentive for borrowers to keep paying on time, the initiative will provide a monthly balance reduction payment that goes straight towards reducing the principal balance of the mortgage loan. As long as a borrower stays current on his or her loan, he or she can get up to $1,000 each year for five years.

Reach Borrowers Early: To keep lenders focused on reaching borrowers who are trying their best to stay current on their mortgages, an incentive payment of $500 will be paid to servicers, and an incentive payment of $1,500 will be paid to mortgage holders, if they modify at-risk loans before the borrowers falls behind.

Home Price Decline Reserve Payments: To encourage lenders to modify more mortgages and enable more families to keep their homes, the Administration--together with the FDIC--has developed an innovative partial guarantee initiative. The insurance fund--to be created by the Treasury Department at a size of up to $10 billion--will be designed to discourage lenders from opting to foreclose on mortgages that could be viable now out of fear that home prices ill fall even further later on. Holders of mortgages modified under the program would be provided with an additional insurance payment on each modified loan, link to declines in the home price index.

Institute Clear and Consistent Guidelines for Loan Modifications: Treasury will develop uniform guidance for loan modifications across the mortgage industry, working closely with the bank agencies and building on the FDIC's pioneering work. The Guidelines will be used for the Administration's new foreclosure prevention plan. Moreover, all financial institutions receiving Financial Stability Plan financial assistance going forward will be required to implement loan modification plans consistent with Treasury Guidance. Fannie Mae and Freddie Mac will use these guidelines for loans that they own or guarantee, and the Administration will work with regulatory and other federal and state agencies to implement these guidelines across the entire mortgage market. The agencies will seek to apply these guidelines when permissible and appropriate to all loans owned or guaranteed by the Federal government, including those owned or guaranteed by Ginnie Mae, the Federal Housing Administration, Treasury, the Federal Reserve, the FDIC, Veterans' Affairs and the Department of Agriculture.

Other Comprehensive Measures to Reduce Foreclosure and Strengthen Communities

Require Strong Oversight, Report and Quarterly Meetings with Treasury, the FDIC, the Federal Reserve and HUD to Monitor Performance;

Allow Judicial Modifications of Home Mortgages During Bankruptcy for Borrowers Who Have Run Our of Options;

Provide $1.5 Billion in Relocation and Other Forms of Assistance to Renters Displaced by Foreclosure and $2 Billion in Neighborhood Stabilization Funds;

Improve the Flexibility of Hope for Homeowners and Other FHA Programs to Modify the Refinance At-Risk Borrowers

3. Supporting Low Mortgage Rates by Strengthening Confidence in Fannie Me and Freddie Mac:

Ensuring Strength and Security of the Mortgage Market: Today, using funds already authorized in 2008 by Congress for this purpose, the Treasury Department is increasing its funding commitment to Fannie Mae and Freddie Mac to ensure the strength and security of the mortgage market and to help maintain mortgage affordability. Provide Forward-Looking Confidence: The increased funding will enable Fannie Mae and Freddie Mac to carry out ambitions efforts to ensure mortgage affordability for responsible homeowners, and provide forward-looking confidence in the mortgage market. Treasury is increasing its Preferred Stock Purchase Agreements to $200 billion each from their original level of $100 billion each. Promoting Stability and Liquidity: In addition, the Treasury Department will continue to purchase Fannie Mae and Freddie Mac mortgage-backed securities to promote stability and liquidity in the marketplace. Increasing the Size of Mortgage Portfolios: To ensure that Fannie Mae and Freddie Mac can continue to provide assistance in addressing problems in the housing market. Treasury will also be increasing the size of the GSE's retained mortgage portfolios allowed under the agreement--by $50 billion to $900 billion--along with corresponding increases in the allowable debt outstanding. Support State Housing Finance Agencies: The Administration will work with Fannie Mae and Freddie Mac to support state housing finance agencies in serving homebuyers. No EESA or Financial Stability Plan Money: The $200 billion in funding commitments are being made under the Housing and Economic Recovery Act and do not use any money from the Financial Stability Plan or Emergency Stabilization Act/TARP.

Wednesday, February 18, 2009

Blog Question

What do you think about this cartoon. Enter your comments at the comments line and voice your views.

HR1: The American Recovery and Reinvestment Act of 2009

HR1: The American Recovery and Reinvestment Act of 2009 has been signed into law by President Barack Obama at the Denver Museum of Science yesterday with Vice President Joe Biden looking on. For Illinois, the law will entail, among other things, $29,218,992 for Head Start; $88,015,040 for Neighborhood Stabilization Program; $95,960,765 for HOME Investments Partnership Program' $48,458,944 for Community Development Block Grants; $9,447,325 for Community Service Block Grant; $81,790,952 for Byrne Justice Assistance Grants for at total for Illinois $3,322,761,437. In regard to energy, the law will create temporary loan guarantees up to $80 billion for renewable energy power generation and electric transmission projects that begin in the next ten years. These would help east credit constraints for renewable energy investors and spur new private sector investment over the next three years. And the law will promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation, increases the credit form 10 percent to 30 percent of the cost of the investment and raises the credit cap from $500 to $1500, helping American families save money on their energy bills. You may also visit our website at

Banking Symposium

Chatham Avalon Park Community Council, Business Revitalization Association, Chatham Business Association, Triangle Neighborhood Organization, Chesterfield Community Council, Park Manor Neighbors Community Council, West Chesterfield Community Association, and the Roseland Heights Community Council will be hosting a Banking Symposium on Saturday, March 7, 2009 at the St. Marks Methodist Church, 8441 St. Lawrence Ave., Chicago, Illinois 60619 from 10:00 A.M. until 2:00 P.M. with refreshments and financial information with a free seminar. For more information, please call the CAPCC Office at 1-866-272-1215 or visit the CAPCC Blog at You may also visit our website at

Monday, February 16, 2009

Support Senator Roland Burris!

We, at the Chatham Avalon Park Community Council, ask all of our members and the residents of the area we serve and represent to support fully our fellow resident and junior United States Senator Roland W. Burris in his battle to clear his name in the media for the sake of our agenda to our community, namely the flow of federal funds to build and re-build our enclave, Chatham. You may also visit our website at

Senate agreed to conference report by Yea-Nay Vote. 60 - 38

On Friday, the Senate agreed to the conference report for the $787 billion stimulus bill by Yea-Nay Vote of 60 - 38 with 3 Republican Senators voting yes. Now the legistlation waits the President's signature at a signing ceremony in Denver on Tuesday.

Friday, February 13, 2009

Blog Report: Someone You Should Know

We, at the Chatham Avalon Park Community Council want you to know of the work and the remodeled design the new owner have given the new Chatham Food Market, 327 East 79Th Street, with new floors, meat market with a new delicatessen, and more freezer space that can reach up to the ceiling and a new lottery window in the front of the store for consumer convenience.

House Passes Obama Stimulus Package

Democrats pushed a huge, $787 billion stimulus bill through the House and toward final approval on Friday, launching a costly attack on the worst economic crisis since the Great Depression and handing President Barack Obama a major victory early in his term. The House vote was 246-183, with Republicans unanimous in opposition to the bill, which includes tax cuts and an estimated $500 billion in federal spending.

Tuesday, February 10, 2009

HR1: The American Recovery and Reinvestment Act of 2009

HR1: The American Recovery and Reinvestment Act of 2009There are 5 versions of Bill Number H.R.1 for the 111th Congress1 . American Recovery and Reinvestment Act of 2009 (Introduced in House)[H.R.1.IH]2 . American Recovery and Reinvestment Act of 2009 (Engrossed as Agreed to or Passed by House)[H.R.1.EH]3 . American Recovery and Reinvestment Act of 2009 (Received in Senate from House)[H.R.1.RDS]4 . American Recovery and Reinvestment Act of 2009 (Amendment in Senate)[H.R.1.AS]5 . American Recovery and Reinvestment Act of 2009 (Amendment in Senate)[H.R.1.AS2]

HR1: The American Recovery and Reinvestment Act of 2009

HR1: The American Recovery and Reinvestment Act of 2009 is the Obama legislative proposal for the 111th Congress meant to deal with the economic downturn in the American economy that began in September, 2007.

Our February, 2009 Monthly Meeting

We, at the Chatham Avalon Park Community Council, held our February Monthly Meeting at the Whitney Young Branch of the Chicago Public Library at 7901 South King Drive, to discuss the continuing threat a new burglary ring is having throughout Chatham. Resident were told to inform your neighbors of young men in cars and trucks jumping out to break in your home at all hours of the day and night. The burglary ring started in the area bounded by 79Th Street to 83rd Street and from King Drive to Cottage Grove, but has now spread throughout the entire enclave of Chatham. Warning was given to all residents at the meeting that upkeep of your home and your neighbor's is key and essential for Chatham not to becoming another Woodlawn or Englewood. The "I don't care or I don't give a damn" crowd usually lets down a neighborhood to becoming a ghetto. Businesses seeking a loyal market for their wares put on demonstrations of their products with tastes tests, including wine from a new vineyard from South Africa (Heritage Link Brands) with a distributor in Massachusetts. Shelf space for Chatham-based and Chatham-grown vendors, of which there are 60, 10 of which have gone national, at Jewel's and Albertson's were also highlighted. Chatham Food Center, now Chatham Food Market at 327 East 79Th Street will curtail its 24 hour schedule to a more modest overnight run for only Link Card recipients on the day of disbursement; all other nights the store will close at 12 AM or 1 AM to reopen at 6AM--this was mainly due to the economic downturn since last September. You may also visit our website at

Monday, February 2, 2009

Chatham Man is found fatally stabbed on South Side

Chicago detectives were talking to several witnesses in the early Sunday stabbing death of a 30-year-old man, police said.Morris Wilson of the 500 block of East 80th Street was found stabbed to death on the sidewalk at 2 a.m. in the 8100 block of South Drexel Avenue, according to the Cook County medical examiner's office. Wilson had been stabbed several times, the office said. Police declined to discuss possible motives. We, at the Chatham Avalon Park Community Council understand that four women chased the victim and stabbed him repeatedly after he threw beer all over them. Four South Side women, all in their 20s, are accused of stabbing a man to death early Sunday after a verbal altercation got out of control, police said.At about 2 a.m., police responded to a call in the 8100 block of South Drexel Avenue of a man being chased by women with knives. Morris Wilson and the women were “drinking together in the apartment of one of the women. There was an argument that escalated. The women beat and stomped on him. As he was attempting to make his way out, he was followed by the offenders who (again) beat him and started to stab him multiple times,” said Chicago Police News Affairs officer Laura Kubiak. Carmelita Hall, 25; Tiffany Cox, 25; Miesha Nelson, 25; and Roslind Ball, 23 –– who all live in the vicinity of the incident –– were each charged with one count of first-degree murder. Morris, 30, lived a few blocks away, and was pronounced dead at the scene, said the Cook County Medical Examiner’s office.The women are scheduled to appear in bond court Monday.

Woodlawn man charged in fatal shooting of Chatham man: Suspect followed victim, who cashed in large number of chips at casino, police say

A Chicago man is accused of following a 55-year-old man home from a casino, then shooting and killing him in a robbery, police said. Arthur M. Grady, 30, of the 6300 block of South Champlain Avenue faces one count of first-degree murder and one count of armed robbery in the death of Ralph Turner of the 8100 block of South Eberhart Avenue. Turner, was shot at 8129 S. Eberhart Ave. and was pronounced dead at the scene at 7:30 a.m., the Cook County Medical Examiner’s office said.Police said the man who attacked Turner was described as a black male wearing a black hooded sweatshirt who exited a larger vehicle, possibly an SUV, and grabbed him. The attacker shot Turner twice in the chest and then stole money, according to police. It was not known how much money the robber got away with. Prosecutors said Grady, who was held without bail Sunday (Cook County Judge Israel Desierto on Sunday ordered Grady to be held without bond. Grady is also charged with aggravated assault of a police officer in an unrelated case.), was at the Horseshoe Casino in Hammond when he spotted Turner at a roulette table cash in a large number of chips. Grady allegedly followed Turner home and confronted him at 3:50 a.m. Friday as Turner got out of his car, police said. Grady robbed Turner, then shot him twice, police said. Prosecutors said witnesses saw Grady in the passenger seat of the vehicle that followed Turner home, not the driver's seat. Police said Sunday Grady is the only person charged in the crime and they did not have information about possible co-conspirators. Turner, was shot in the chest about 3:50 a.m. in the 8100 block of South Eberhart Avenue as he returned from visiting an area casino with friends, police said. An autopsy Friday found Turner suffered multiple gunshot wounds and his death was ruled a homicide, according to the medical examiner's office. Calumet Area detectives are investigating.