Priceless Vol 6 Number 10
Personal and Professional Empowerment www.hamptonroadsmessenger.com
Serving Norfolk, Portsmouth, Chesapeake, Hampton, Newport News, Suffolk, and Virginia Beach since 2006
Show Your Love for Hampton Photo Contest Entries
House Urges Treasury to Improve Homeowner Assistance Programs
Small Business Workshop
Langley FCU Announces Winner of Savings Contest
SBA Recognizes 2012 Small Business Award Winners
RICHMOND, Va. Congressman Bobby Scott WASHINGTON, DC –
Congressman Bobby Scott (D-VA) joined Congresswoman Maxine Waters (D-CA) and 52 other Members of Congress in sending a letter to Treasury
Secretary Timothy Geithner
and Federal Housing Finance Agency Acting Director Edward DeMarco highlighting their concerns with the implementation of the Hardest Hit Fund (HHF) and the latest version of the Home Affordable Refinance
Program (HARP 2.0). The
effects of the recession continue to linger for homeowners, many of whom struggle to keep afloat amidst underwater mortgages.
Recent reports have shown
that government recovery programs such as the Hardest Hit Fund and the Home Affordable Refinance Program, both intended to stave off foreclosure and help struggling homeowners get back on their feet, have barely
Congresswoman Maxine Waters
used their allotted funding. The need to correct under-
performing housing programs comes on the heels of news that after receiving $66.5 million as part of a national $25 billion mortgage settlement with five major banks for foreclosure fraud, the Virginia General Assembly diverted $59 million to local governments, leaving only $7.5 million for Virginia homeowners.
“We need to make sure
government aid is reaching eligible homeowners quickly and appropriately,” said Rep. Scott.
“I hope the Treasury
Department will take immediate action to improve the implementation and oversight of these critical assistance programs so that they actually help homeowners recover from the lingering effects of the deepest recession since the Great Depression.”
THIS EDITION’S HIGHLIGHTS
Your Opinion Editorial Career Opportunities Hampton Roads Upcoming Events Scholarships Watch
Spring Clean Your Finances We Can All Start to Breathe a Little Easier
Become a State Farm Agent Help for Small Businesses Comes to Hampton Groovin’ by the Bay John Culver Wooddy Scholarship 2012
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– Nine people received awards from the U.S. Small Business Admin- istration’s Richmond, Virginia District Office, at the annual Small Business Awards Luncheon in Richmond, on Friday, May 18. The Richmond District Office territory includes all of Virginia except the counties of Arlington, Fairfax and Loudoun and the cities of Alexandria, Fairfax and Falls Church which are covered by SBA’s Metropolitan Washington District Office.
Each year the
Free June 2012
President of the United States designates one week as National Small Business Week in recognition of the small business community’s contribution to the American economy. The 2012 observance of National Small Business Week was May 20-22 in Washington, D.C. where more than 100 outstanding small business owners from around the country were honored and the National Small Business Person of the Year was announced.
2012 SBA Virginia Small Business Persons of the Year, Interactive Achievement executives, hold award. (left to right): President and Founder Jonathan Hagmaier, Vice President Jacob Gibson, Solutions Architect Matthew Muller, Vice President of Corporate Relations Mary Hagmaier. Photos courtesy of Interactive Achievement
held at The Jefferson Hotel in Richmond, honored Virginia’s Small Business Persons of the Year along with five other award winners. Nominations for all of the awards were accepted last fall, and winners were selected by an independent panel of judges.
Those honored at the annual Small
Business Awards Luncheon include: 2012 Virginia Small Business Persons Of
Virginia’s Small Business Week event,
The Year: Jonathan L. Hagmaier, C.E.O.; Mary SBA AWARDS PAGE 6
Higher Education, Lower Debt: Ways to Minimize the Borrowing Costs for College
The average annual cost of higher
education has increased dramatically in the last decade. And with education debt continuing to rise along with the increase in costs, many people face a tough financial situation. FDIC Consumer News offers these tips to help students and their families avoid debt overload as they plan for — and pay for — college, graduate school or other education.
Start saving early to reduce the
amount you may need to borrow. In particular, Section 529 college investment plans, which are mostly offered by individual state governments, are a helpful tool for building a savings fund. One type of 529 plan gives you the right to lock in future tuition at today’s prices. The other allows you to place funds in an investment or deposit account and receive tax benefits.
U.S. Savings Bonds are another way to
save for the future and, for qualified taxpayers, to benefit from a tax exclusion if the money is used for education expenses. To learn about
Savings Bonds, start at www.tr
m. For information about the tax exclusion, go to www.treasurydirect.gov/
Find ways to cut costs. High school students
who take advanced courses or pass special college-level exams can earn college credits before they set foot on campus. “It’s never too early or too late to start saving on future tuition expenses and reduce the amount you’ll need
LOWER COLEGE DEBT PAGE 5
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