“The real risk to the banks and investors is that the people in those homes might just decide to walk away. And that’s what we must do. Doesn’t have to be everybody, of course; but anyone who finds themselves seriously underwater with no hope of ever recouping their investment….just walk away Renee. Morality has nothing to do with it. You are a cog in the wheel of a machine that is killing this country and if you remain a cog you enable it. Remove your cog and the machine will not keep running. Remove millions of cogs and the machine gets replaced.”

In other words, the Kos is advocating mortgage debt anarchy; a revolution of sorts.  It then cites Realtors from across the U.S. who seemingly justify the action.  Why?  In the words of one agent, since the economic and housing recovery is projected to take perhaps as long as a decade, “Isn’t it better to just cut the losses up front”? 

According to a recent report by First American CoreLogic, nearly one in four are underwater or upside down with their home mortgage.  In other words, they owe more for the property than it is worth.  According to the N.Y. Times, the housing collapse left 10.7 million families owing more than their homes are worth.  Is that a problem?  Of course it is.  Will walking away from a mortgage solve that problem?  Not hardly.  Have the Administration’s loan modification measures worked as fast or as well as hoped?  No, they haven’t.  Nonetheless, the programs were enacted for the affected homeowners to use.  I have yet to hear of a homeowner not being able to remain in their home as they attempt to modify their payments.

How about you?  If you know of a friend, relative, or client that has been forced out of their property despite the fact they’ve continued to make a payment, or partial payment, please let me know.

Is walking away from a mortgage debt justified?  While its track record isn’t perfect, the short sale is getting its act together.  Perhaps, for both the lender and the those upside down, it is a better alternative than burning the mortgage.

While Northern Virginia doesn’t offer quite the same variety of choices you may have seen in the 2004 Oscar winning movie “Sideways“, which, you may recall, involved a “road trip” through California’s wine country, you can find some very appealing local wineries with wine choices to suit just about anyone. Additionally, Virginia’s temperate climate, and scenic countryside make an afternoon at Potomac Point more than just a stop for lunch. And, besides, aren’t we all looking for that refuge from the everyday hustle and bustle of life? (What we wouldn’t do for a few minutes of peace and quiet!)

Since their Grand Opening last July, many locals have taken advantage of the fine wines offered at the the Point. There are a variety of choices for everyone’s taste, including:

• Norton
• Viogenier (gold medal)
• Rabelos & Vidal Blanc dessert wines
• Cabernet Franc
• Bordeaux, Italian & Portuguese styled red wines
• Chardonnay (gold medal)

Fortunately, the Point doesn’t end with wine tasting. You can also enjoy their assorted olive oils available for tasting, or the appealing soups and sandwiches available. Finally, for groups, special arrangements are possible for private get togethers on the grounds, or catered service if you so desire.

While house hunting, the I95 traffic can sometimes get the best of us. The Potomac Point Winery is just “A Step Away From Your Everyday”. So, once that contract is signed, sealed and delivered, treat yourself to an enjoyable few minutes of relaxation at Potomac Point Winery. For wine lovers, or just those that like a place to get away from it all, the Point is an ideal refuge.