* 12% behind on mortgages
Borrowers with good credit now make up the largest share of foreclosures as job losses and pay cuts exact their toll.
A record 12 percent of homeowners with a mortgage were behind on their payments in the first quarter, the Mortgage Bankers Association said Thursday. And the trend is predicted to continue until the end of next year, about six months after unemployment is expected to peak.
* Empress Casino in Joliet to reopen June 25, officials say - Fire closed casino in late March
* Ill. health insurance law takes effect June 1
Illinois parents will be able to continue using their health insurance to cover older dependent children beginning June 1.
State insurance officials say the new law will allow adding children up to age 26. It’ll also allow military veterans to be covered by parents up to age 30.
* Fiscal crisis shuts the doors on storied Driscoll Catholic
* Chicago parking: Mayor Richard Daley calls machine meltdown a ‘glitch’
Mayor Richard Daley on Thursday blamed a “computer glitch” for a downtown parking pay-box meltdown.
That’s more than the company that took over running the city’s paid street parking system would say about why some 250 new cash-or-credit payment boxes stopped working for much of Wednesday.
Avis LaVelle, a spokeswoman for Chicago Parking Meters, said company officials have “some suspicions” but don’t want to speculate on the cause of the problem. She said it might be a few days before they announce findings.
Daley said he has asked the company, which leased the city’s 36,000 paid street spots for 75 years in return for a $1.15 billion upfront payment, to perform better.
* Daley tells parking meter company to shape up
Ald. Tom Allen (38th), chairman of the City Council’s Transportation Committee, agreed that the city has little choice but to work with the contractor.
“It was a massive undertaking that we did with very little public comment and two days of deliberation. Now, what are you gonna do? We’ve already cashed their check,” he said.
“Had we not taken their money, there would be a pretty good appetite to revisit this thing. It’s been a disaster.”
* 87% of arrested men on drugs
Nearly 90 percent of the men arrested in the Chicago area last year tested positive for illegal drug use at the time of their arrests, according to a federal report.
The area’s 87 percent rate led among 10 metropolitan areas studied in 2008.