The U.S. home foreclosure rate has hit the highest level in 25 years. Families across the country are losing their homes. In many cases because falling home prices have made their adjustable rate mortgages no longer affordable.
A record 5.4 million homeowners were either overdue on payments or in foreclosure at the end of last year.
Contrary to Mortgage Brokers Association reports of a spike in homeowner refinance applications, president and branch manager of H & R Mortgage, Inc. in Falls Church, Agnes Ginoba, said business is so bad that she’s only at her office once every two weeks – a small space she’s since had […]
This Tuesday, July 1, hundreds of new laws passed during the 2008 General Assembly session became effective. Perhaps first on the list for some, if you like sangria, then you are in luck because that wine and liquor blend can now be legally served in pitchers in Virginia restaurants.
Radford Students Named to Dean’s List Five Fall Church residents have been named to the spring semester’s dean’s list at Radford University. Kimberly Anne Clingenpeel, senior management major, Joshua Thomas Hearne, senior foreign language major, Christina Nicole Jatras, junior criminal justice major, Sarah Cristin O’Hanley, senior media studies major, […]
The housing and credit crisis has left no community untouched. Odds are someone in your neighborhood has already fallen behind on their mortgage payments. For those whose mortgages have not stretched their budgets past the point of breaking, it’s tempting to rest in the belief that your neighbor’s struggles are […]
The operative word this week was not “recession,” but “panic.” It even made it into the banner headline of the Washington Post. A “cat crossed your grave” shudder swept over the planet at the beginning of the week, sending markets reeling and investors running and screaming in the streets from […]
What happens, socially and politically, when the U.S. sinks into protracted economic malaise as many are now predicting? The chickens are coming home to roost on “The Era of Greed,” a 27-year time span that may earn its own chapter in future history books, running roughly from the election of […]
Remarkably, there are simply no indicators suggesting a rosy coming period for the U.S. economy. None, not one. On the other hand, there are plenty of arrows, and thumbs, pointing downward. No one has said how the gaping hole caused by the sub-prime mortgage crisis and related predatory lending policies […]
By Bush administration standards, Henry Paulson, the Treasury secretary, is a good guy. He isn’t conspicuously incompetent; and he isn’t trying to mislead us into war, justify torture or protect corrupt contractors.