As a follow up to the Sub-Prime lending story in the August 22 issue of The Morgan Messenger, Thomas Rokisky, president of CNB, and Denise Bergen, vice president of BB&T, were asked what advice they have for borrowers who are in danger of missing mortgage payments or have already fallen behind.
Both print and on-air media have given a lot of attention lately to the woes of subprime mortgage lenders and borrowers. The crisis is blamed for the bottom dropping out of the stock market as the Dow Jones Industrial Average has fallen sharply in the last two weeks, and credit markets have tightened worldwide.
Holders of mutual funds have seen their share value decrease appreciably and the housing sales slump continues across the country. Predictions estimate it will take another year before the housing market starts to recover.
Saturday, August 25 will be a busy day in the Town of Bath. Council approved both a block party to be held in the gravel driveway between North Washington Street and The Old Factory Antique Mall, and a chicken barbeque by the Hancock Lions Club on the west side of Fairfax Street next to the park.
The high voltage power transmission line that American Electric Power (AEP) of Ohio is proposing to build that may cross through south Morgan County has received approval from PJM Interconnection. PJM is the region's largest power wholesaler, supplying power to 13 states and the District of Columbia.