http://60646blog.com/2007/05/30/no-to-sb1674-and-no-to-sb572/ Suburban Living in Chicago Fri, 03 Sep 2010 06:08:52 +0000 hourly 1 http://wordpress.org/?v=abc http://60646blog.com/2007/05/30/no-to-sb1674-and-no-to-sb572/comment-page-1/#comment-7 Markus Azadeh Wed, 12 Dec 2007 00:20:26 +0000 http://60646blog.com/?p=41#comment-7 Good question, Fred. SB1674 was amended to SB1167 in early July. As it is in Springfield, things are a mess, and the state budget for the next fiscal year, which should have been done a long time ago, is still being debated. Meanwhile, SB1167 which is a mutant form of SB1674, has been debated in the IL Assembly, and passed. Gov. Blagojevich has signed it <a href="http://www.ilga.gov/legislation/publicacts/95/095-0691.htm" rel="nofollow">into law</a> and it will go into effect sometime in the middle of next year. My guess is that Blago signed this into law, to be able to get concessions for other things he wants from the Assembly. But really, it doesn't even matter anymore, at this point. The types of loans this ill-conceived bill was trying to curb, are hardly being offered any longer by lenders, anyway (such as stated income, no-docs etc.) Good question, Fred. SB1674 was amended to SB1167 in early July. As it is in Springfield, things are a mess, and the state budget for the next fiscal year, which should have been done a long time ago, is still being debated. Meanwhile, SB1167 which is a mutant form of SB1674, has been debated in the IL Assembly, and passed. Gov. Blagojevich has signed it into law and it will go into effect sometime in the middle of next year. My guess is that Blago signed this into law, to be able to get concessions for other things he wants from the Assembly. But really, it doesn’t even matter anymore, at this point. The types of loans this ill-conceived bill was trying to curb, are hardly being offered any longer by lenders, anyway (such as stated income, no-docs etc.)

]]> http://60646blog.com/2007/05/30/no-to-sb1674-and-no-to-sb572/comment-page-1/#comment-6 fred333 Tue, 11 Dec 2007 20:32:18 +0000 http://60646blog.com/?p=41#comment-6 So how did the bill work out? So how did the bill work out?

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