June 2010

Found 4 blog entries for June 2010.

In a press release announcement this week Fannie Mae has taken a sharp stance against those borrowers that walk away from their obligations and pursue what the industry has termed a Strategic Default.  Fannie Mae would ban those borrowers from obtaining a new Fannie Mae backed mortgage for 7 years and take legal action to pursue deficiency judgments to collect outstanding mortgage debt against those in states that allow deficiency judgments.  In that same statement Fannie Mae also expressed that some distressed borrowers who seek work out options with their servicers could be eligible for a new Fannie Mae backed mortgage in 2 to 3 years. 

It has been interesting reviewing blogs and conversations on this subject.  The feedback is mixed.  There

2,281 Views, 0 Comments

Confucius said “He who will not economize will have to agonize.”  These words ring very true today.  An alarming trend is continuing.  I read that consumer debt rose again last month.  In a time when foreclosures are on the rise and the US economy is poised for another potential dip, climbing consumer or credit card debt is not good news.   The economy reported growth last month; however, is current consumer spending relying on credit, instead of income growth, to expand the economy?  This underlying trend will keep us from a true recovery as we put off debt reduction and spur growth on borrowed dollars.  Income must rise again to allow healthy consumer spending to return.   Households should be taking a conservative approach to ride this troubled

2,283 Views, 3 Comments

The future of a historic Northern Virginia landmark is looking uncertain, as developers fail to find volunteers willing to take responsibility for its long term survival.

The Broad Run Tollhouse and bridge, in Loudoun County, was among the first buildings to be placed on the National Register of Historic Places back in 1970, but now the site, which has fallen into disrepair, may be facing something of a bleak end.

Built in 1820, the bridge and original tollhouse served travelers using a section of the Leesburg Turnpike, from Alexandria to the Shenandoah Valley. Although tolls were removed in 1924, the bridge remained in use up until the late 1940s, after which users crossed Broad Run by a newly constructed steel span. The distinctive old stone bridge escaped…
2,153 Views, 0 Comments