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Welcome to Our Newsletter! Greetings!
After the summer ends and before the holidays begin, take some time to review/assess your finances. This is the time when most companies have their open enrollment for employee benefits. Instead of automatically renewing your benefits, contact our office for an appointment to review your options. We assist clients with reducing benefits where they have duplicated their efforts and help them add benefits that can improve their finances going forward. |
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Fannie, Freddie, & the Fed
Earlier this month, the US government took control of Fannie Mae and Freddie Mac. The continued down turn in the housing market combined with high mortgage default rates have had a negative effect on financial institutions, investors, homeowners, and the economy.
Fannie Mae and Freddie Mac are the backbone of our mortgage lending. The government became concerned about the detrimental impact to the economy should either Fannie or Freddie go belly up. While US taxpayers will have to foot the bill for the cost to turn these ailing companies around, the cost to the US could have been much higher if the mortgage market were to collapse.
The initial reaction by investors on Wall Street was extremely positive. The first business day after the news broke, both the Dow Jones and S&P 500 were up over 2%. |
Office News
I'm happy to announce that we have hired a new assistant. Her name is Heather Dicello, and she will be in the office on Mondays, Wednesdays, and Fridays.
While Heather is catching on quickly, it may be some time before she is fully up to speed. I will keep a close eye on her work and be available in the event you have any questions.
Woody will be out of the office from Friday, September 19th through Tuesday, September 23rd. I'm going fishing with four of my brothers-in-law in the Keys. Keep your fingers crossed for a safe trip. Between the hurricanes and my being alone with four of Heidi's brothers- the trip could turn dicey at any moment! |
On the Home Front
September 6th was Fenway's 3rd birthday (or 21st in dog years). We celebrated by having Fenway's closest people and canine friends over for food and drinks.
As you can see in the photo, Fenway and his buds had Doggie Brew. They also had some birthday "cupcakes". The dog bone cake in the picture was for Fenway's human friends.
Yes, Heidi and I understand that we go a bit overboard. It was, however, a beautiful day to visit with friends that we don't see often during the summer.
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I hope you enjoyed this month's newsletter. If you know of someone else who may find this newsletter of value or who you believe may need our help, feel free to forward our newsletter to them by using the "forward email" link on the bottom left of this page.
Best Wishes,
Woody Derricks
President
Phone: 410-732-2633
Toll Free: 877-807-2633
Fax: 410-732-2634
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Paws for a Cause

On Wednesday, September 24th, at Yellow Dog Tavern in Canton we're hosting our 3rd Annual Paws for a Cause!
The money raised through our silent auction and donations received will benefit the Humane Society of Baltimore County and Recycled Love.
Visit the event website to learn more:
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Available by Appointment in Alexandria & DC. Woody Derricks is also registered to discuss and transact securities business in: AK, CA, CT, DC, DE, FL, MD, NJ, NY, PA, RI, VA, and VT. |
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