VALDOSTA —
Some of the most sweeping and broad legislation has been passed under the current administration, the latest of which is the financial reform bill. Consumers need to educate themselves on all of the changes under the bill as they impact us all.
However, trying to educate yourself is a challenge. If you try an Internet search, looking at various news sites, you will find as many versions of the “truth” behind the financial reform bill as you will sightings of Bigfoot. And all are about as believable.
As is most often the case, the truth lies somewhere in between the outliers. So, perusing a half dozen or so different news outlets, several things are apparent. One is that the sheer size of the reform bill has precluded even those with tremendous resources from delving too deeply into it and the other is that there are as many conflicting ways to look at it as there are the health care reform plan.
What is fairly evident, though, is that there will be definite changes in the way that the home mortgages are handled. New rules requiring banks to verify incomes and to ensure that the borrower can actually afford the house they want and can pay the loan back. Consumers will also be allowed to prepay their mortgages with no penalties.
Other changes on the way include how failing banks will be dealt with and there will be more resources for consumers to learn about financial planning.
Although the reforms did not venture into a number of issues, such as student loans, this may be a step in the right direction to help shore up the economy. At any rate, once this becomes law, you will need to understand how it will impact your life, so be prepared.
Business Roundup
Sad to say that Carlton Outdoors is closed. The store has been a mainstay for hunters and outdoorsmen and has been closed for about two weeks, and I’ve been leaving messages around town to find someone who could tell me why. In the meantime, the store has been cleaned out. If someone knows if they are going to reopen in a new location, please let me know.
There is a new antique store coming into downtown Valdosta, so be on the lookout for more information about Into the Past.
It looks like much of The Ambling Company’s Residences at Five Points apartment development is complete and actively being rented out.
Oh, and good news for the City of Valdosta. According to the city manager, until they begin development of the portion of Five Points that they purchased, they’ll receive rent payments from the businesses located there.
Hahira Mini Storage is now open on Marshall Street in Hahira, right behind Just Off Main Antiques & Interiors. They’re all new with security lights, etc.
Walmart on Norman Drive is getting ready for a major renovation to the store. They’re putting more than $1.2 million into the project to spruce up the interior and exterior.
The Scruggs Company is moving in the next week or so to a new office on River Street, next door to where they are currently. The company bought the old office that belonged to Hood Packaging and has renovated the building to house their corporate offices.
Sadly, it looks like a private prison that was potentially going to locate in Valdosta is going to Bainbridge instead. Corrections Corporation of America operates correctional facilities across the country and had looked at a site locally as well.
That’s about it for this week, but if there’s anything I missed, please let me know!
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