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wbbm newsradio 780 business news
Posted: Thursday, 18 June 2009 2:51PM

Daley Center traffic to rise due to foreclosures




CHICAGO (WBBM)  -- Beginning next month, things may be a little more crowded at the Daley Center - through August.

It's all because of the extraordinary number of mortgage foreclosure cases.

Normally, each judge may hear several dozen mortgage foreclosure cases every day.

"Maybe sixty or 70 cases a day. Here we're going to see upwards of 200 or 300 a day."

Cook County Judge Lewis Nixon is the supervising judge of the mortgage foreclosure/mechanics lien section.

And he is bracing for a dramatic increase in the number of cases to come before the court.

The court system has decided to use July and August to take inventory of the mortgage foreclosure cases. And there are more than 40-thousand. And Judge Nixon says eight courtrooms will be going from 9 a.m. to 3:30 p.m.

Estimated time per case: 3 to 5 minutes.

Judge Nixon says one object of these mortgage foreclosure case management conferences: to give borrowers another chance, now that the Obama loan modification program has kicked in.

Contents of this site are Copyright 2009 by WBBM.

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