Stolen or lost personal information such as a social security number, bank account, or a driver’s license number can lead to identity theft. Identity theft is the criminal act of using another person’s private information without consent for some type of financial gain. There are certain laws aimed at preventing identity theft and that protect…
Getting a debit card may be a bigger milestone in your child’s life than it was for you in your younger years. The Truth In Lending Act (TILA) and the Electronic Funds Transfer Act (EFTA) protects consumers who are involved in using electronic banking methods such as debit and credit cards. Getting a debit card and checking account is a great way….
A new law in Ohio is aimed at speeding up the foreclosure process for vacant properties and will hopefully reduce the number of vacant properties lenders let turn into zombie properties. A process that takes years is now expected to take a couple months and keep lenders from forcing damage liabilities on homeowners after moving out.
Zombie properties are vacant homes that are often abandoned and show signs of deterioration. Boarded up windows and doors, unruly lawn care, emptiness, vandalism, and degrading siding and outdoor structures are typical aspects of a zombie property. Vacant homes and the lengthy foreclosure process is a burden on community, local resources because lenders fail to maintain the properties and let them turn into zombies.
A foreclosing property can sit vacant for a long time because homeowners will move out of the property before the required date. Usually a family can continue living in a home until being informed the property has sold. After the family moves out of the property there is no one left to upkeep the property besides the banks or lenders.
Shortening the foreclosure process can promote home renovators to flip and rebuild the properties before there is too much deterioration damage. Damaged vacant properties can lower surrounding property values and make an area seem unappealing to prospective new residents.
The fast track foreclosure process will also focus on reducing paperwork and court hearings necessary for vacant properties. This process will save time and money for banks and force lenders to take responsibility for vacant properties that turn into zombies.
Doucet & Associates Co., L.P.A. filed a lawsuit against a car dealership for allegedly selling a car with a different engine to our client without telling him. The dealership allegedly lied about the warranty the car was under too. Our client purchased a used car from…
Foreclosure is the legal process of a lender enforcing the mortgage against the property of a homeowner or landlord. If you are a tenant, you probably make routine payments to the landlord for the property you are renting. It is then the landlord’s responsibility to….
TransUnion and Equifax are refunding $17.7 million to consumers and paying $5.5 million in fines for giving consumers misleading and deceptive credit scores. The credit reporting agencies were using…
A cruise line that illegally telemarketed and advertised a free cruise by robocalling thousands of people in 2011 and 2012 is required to pay at least $56 million dollars in damages and fines. The actions of the cruise line violated the Telephone Consumer Protection Act (TCPA) and if you file a claim about receiving one of these calls by February 1, 2017, you may be entitled to collect some of those damages.