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For many of us, here in the U.S. and Canada at 2:00 tomorrow morning (Sunday 3/8) it will be time to set your clock an hour ahead (Spring Forward).
Contrary to the belief of many, not everyone participates in Daylight Saving Time. Most of North America plays along, as does the bulk of Europe and Russia (see map).
Daylight saving time has been controversial as typically clocks are adjusted forward one hour at the
beginning of Spring and adjusted one hour backward in the fall (fall back).... or is it starve a cold and feed a fever... I can never remember.
Daylight saving time was first proposed in 1907 by an English builder in order to take advantage of more daylight building hours.
Since then many countries have adopted it's use, since adding daylight to waking hours benefits retail, sports and other activities that need sunlight after working hours... it causes problems, however, for farming and entertainment and other occupations that are tied to the sun.
Traffic fatalities are reduced when there is extra daylight in the afternoon, but it's impact on health and crime is unclear. DST was also designed to reduce costs of electricity for incandescent lighting, heating and cooling. Savings have not been shown in that area.
The complicated system of timekeeping can be disruptive for meetings, travel, billing, record keeping, electronic medical devices and more. Most computer-based systems are able to adjust their clocks automatically, but it can be limited and error prone.
I know that my car is typically about 2 weeks behind schedule on the time change. Sheesh!
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My wife is a pre-school teacher. She works at Warren W. Cherry Preschool, a developmental pre-school right here in Evanston.
She's got a great job.
Not only does she get to play with kids all day, they sing songs, play games, run on the playground... all good stuff, right? But today, she got to go to work in her Pajamas. That's right... today was Pajama Day. All the kids will be arriving in their sleepwear, and the teachers are no different.
Okay, she had to go buy a new pair of Pajamas for today... can't be seen in last season's sleepwear, can we?... and we can't risk torn or thinning pajamas... can we? ... but still Pajama Day!
And not just in one classroom. All of the teachers, school-wide, will be arriving in their finest sleepwear.
No fun-police at Cherry Preschool. This should be fun for everyone. I'm sure the kids will enjoy it.
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1. Fannie Mae and Freddie Mac loans: Homeowners who have loans with Fannie Mae or Freddie Mac are allowed to modify their loans provided the remaining balance on the mortgage does not exceed more than 5% of the current “Market Value”. I think many homeowners will not be able to modify their loans under this program because home values are declining at a faster rate than the cap rate of 5%.
2. Voluntary Lender Program : The plan wants to give ” $1,000.00 cash” incentives to lenders who modify loans. A lender must be willing to reduce the current mortgage to 31% of the homeowners gross income. For example, a person who makes $50,000 per year has a monthly gross income of $4,1,66.67 . According to this plan, 31 % of the monthly gross should be a persons mortgage. In this example the mortgage payment should not exceed $1,291.67 per month. The maximum mortgage a person would qualify for based on this scenario is $241,616.31 (based on 5% Interest, 30 year Amortization) .It is unclear if this monthly amount includes Principal, Interest, Taxes, Insurance. If taxes and Insurance are not factored in then the maximum mortgage would be less. Now let’s assume this same person has an existing mortgage balance of $300,000 and has a subprime rate of 7% . The monthly payment on this loan is $1,984.33 . The difference in payment between $1,984.33-$1,291.67= $692.66 per month or $8, 311.92 loss in 1 year to the lender. The new plan will only reimburse the lender $1,000.00 so the net loss to the lender in 1 year is now $7,311.92 . Does this sound like a good plan for the lender? I do not think so, and therefore I do not see this volunteer program working very well.
3. Plan calls to change the Bankruptcy Code: The third part of the plan will allow a judge in bankruptcy court to help modify the loans with lenders. The bankrutcy judge would be allowed to force the lender to lower the principal balance owed on the debt in order to make the monthly mortgage payments more affordable for the homeowner. I think the courts will overburdened with people attempting to modify their loans and this plan will not be successful.
While Obama tries to help homeowners from loosing their homes to foreclosures he admits many will not be helped with his plan. Those not being helped are people who are unemployed, those who have second homes, or those people who took advantage of the system to begin with and according to Obama will not be bailed out.
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The North Shore communities of Evanston, Skokie and Lincolnwood are the first suburbs north of Chicago. Each one of these communities have homes in different stages of foreclosure.
| Active Listings | Evanston | Skokie | Lincolnwood |
| Single Family Total | 289 | 312 | 113 |
| Short Sales | 33 | 48 | 10 |
| Bank Owned | 15 | 23 | 02 |
| % of Total | 17 | 23 | 09 |
| Condo Total | 520 | 276 | 34 |
| Short Sales | 31 | 37 | 02 |
| Bank Owned | 11 | 16 | 01 |
| % of Total | 08 | 19 | 11 |
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Tonight, I returned to my home from the office, here in Evanston, IL, as the sun was getting low in the western sky. As I rounded the corner, to my street, I was greeted by two medium sized dogs loping across the lawns, and crossed the street in front of my car... causing me to touch the brakes lightly.
As I looked closer at the two, clearly young animals, I noticed that neither of them was wearing a collar, and they appeared to be feral. In fact, as I started at them (and they stared back)... I realized they were coyotes. Young healthy coyotes.
For some of you, who live in Alaska, or Montana or some less urban areas than mine, this may not be such a strange occurrence. But I live in a suburb of one of the largest centers of human population in the contiguous united states of America. This is not a daily happenstance.
While I did have my camera in the car, my reaction time was not swift enough to capture a shot of either of them, so this generic photo (from Wikipedia) will have to suffice. It was nice to see them in the area... (and I went inside quickly to make sure that my little Gus-gus... my 11 pound Havanese "coyotes-consider-him-a-snack-dog"... was still alive and in the house.... he was!).
We have a full yard fence around the yard, but it's only 4 feet high on the sides... and I'm sure a coyote could jump that in a simple bound. I'll have to keep a close eye on little Gus-Gus.
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