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Archive for August, 2009

Seabreeze’s identity, future development remain undefined

Wednesday, August 12th, 2009

By Gareth McGrathGareth.McGrath@StarNewsOnline.com

Seabreeze’s reality is clouded by logistical and legal issues and the area’s history that conspire to make any movement forward challenging.

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Marino on Money: August 12

Wednesday, August 12th, 2009

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This week we are talking about foreclosures. The first half of 2009 brought another rise in foreclosure filings in spite of all the government help and loan modifications by lenders. If someone is facing foreclosure, what should he or she do? Here are some options.

1. Refinance: Even if your home is underwater, or worth less than you owe, you may still be able to refinance. Under President Obama’s Making Home Affordable program, there are two refinancing options.

A. 125% option. You may borrow up to 125% of the current appraised value of your home.

B. Loan modification program. The goal of this program is to lower the PITI, or principal, interest, property taxes, and property insurance to 31% of your gross monthly income. Lenders may modify your loan by lowering your interest rate, or extending the term of your mortgage. The rate could be as low as 2%, and the term could be extended to 40 years.

2. Tap your emergency funds and retirement accounts. Unfortunately, many borrowers have already spent down any available funds. If not, consider using these funds to refinance or modify your loan before all of the money is gone.

When considering these options, be realistic. Can you either increase your income or lower your expenses to make a modification work? You will need to know that before you contact your lender. Please understand these options are not available to everyone. For more information, you
May visit www.makinghomeaffordable.gov.

What if refinancing or a loan modification is not an option? I will address that Thursday.

If you have a financial question for Ross, you can use the Marino on Money page.

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Foreclosure is becoming more common in this economy and it can be a very scary thing. In Wednesday’s Marino on Money segment, Ross looks at some strategies that might help.

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Associated poll

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Waccamaw Bankshares posts big 2nd quarter loss

Wednesday, August 12th, 2009

By Wayne Faulknerwayne.faulkner@StarNewsOnline.com

Waccamaw Bankshares reported a loss of $2.12 million in the second quarter in contrast to a profit of $469,668 in the second quarter of 2008.

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Mayoral candidate broadcasts confusing signals

Wednesday, August 12th, 2009

By Chris Mazzolini,Chris.Mazzolini@StarNewsOnline.com

When Paul Knight decided to run for mayor of Wilmington, he had a sensitive issue to deal with: One of his employees hosts a controversial radio show that deals heavily in local politics.

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Summer sex predator sting a success in New Hanover County

Wednesday, August 12th, 2009

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The New Hanover County Sheriff’s office expanded its two man sex offender unit in the middle of June, adding four deputies for a summer operation to track down unregistered predators.

“Its a big job. At any given time we have approximately 238 sex offenders registered to New Hanover County,” said Det. Sandi Macon of the Sex Offender Registration Unit.

By law, after an offender is convicted of a sex crime, he or she has three business days to register with the county. The offender must provide a valid address, which is uploaded into a data base for the public.

“The important thing is that the people in the community know where the registered sex offenders are,” said New Hanover County Sheriff Ed McMahon.

The work of the task force put six men behind bars for registering a wrong or outdated address, including one extradited from Virginia. They are looking for three more. Gary Reed was convicted of indecent liberties with a minor in 1998. Nieto Middlebrooks was convicted of the same charge in 2007. Jamahl Taylor attempted rape in 1994.

While each were registered with the county, their registered addresses were wrong. “It is important to me that those addresses are correct, because if I lived in a neighborhood, I would want to know who my neighbors are,” Sheriff McMahon said.

McMahon added while the sex offender task force was a summer time effort, tracking sex offenders is a year long challenge. “Although the deputies will go back to their regular assignments we’ll still be keeping a close watch on this.”

You can find out if a sex offender is registered, and living in your neighborhood by visiting, www.NewHanoverSheriff,com.

The sheriff’s office is asking anyone with any information about the whereabouts of the three offenders to call 910-798-4200.

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videoThe New Hanover County Sheriff’s Office is calling a summer sex predator sting a success. More than one thousand man hours, that included door-to-door checks on sex offender’s registered addresses, resulted in multiple arrests.

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Associated poll

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