Foreclosure Law

A deluge of defaults in mortgages several years ago led to an unexpected financial crisis. The foreclosure of one's home, especially if it is a first home or an only home, is not just a pain in the pocket but also a pain in the heart. Many individuals who faced foreclosure of homes sought protection under bankruptcy to help them evade, or, in the least, delay the possibility of homelessness.

Foreclosure law is mainly controlled by state law. This means that each state has laid out different rules and regulations governing the process by which a mortgage lender, usually a bank, takes possession of a home and sells that home when the homeowner cannot pay the loan. Though the law and the procedures governing foreclosure varies in each state, the end result is the same: the borrower loses his or her to the home. A foreclosure proceeding begins when an individual borrows money to purchase a home or to renovate a home. The lender, usually a bank, makes the borrower sign a mortgage document stating that the bank has a lien in the home. This means that if the borrower cannot pay the loan, the bank will have the right to take the home and sell it to pay for the loan. A mortgage document is an agreement that the home will serve as the collateral of the loan.

A home is probably the most important purchase an individual will make in his or her lifetime. A home signifies an elevation in status or security. It is thus imperative that a home buyer know the different laws that would accompany when taking out a loan to buy the house. Banks and financial institutions are helpful when it comes to assisting the home buyer in securing the loan. There are also government agencies that would assist individuals when buying a home. There are, however, nuances in the law that would need the expertise of an attorney.

For instance, when the borrower defaults, foreclosure may not be necessary, especially when an attorney knows the best way to deal with the situation. Foreclosure is a lengthy and costly proceeding, thus lenders do their best to make sure borrowers pay on time. At the end of each foreclosure proceeding, the borrower loses his or her home. Foreclosure can be avoided with the help of expert foreclosure law attorneys. One of the ways to avoid foreclosure would be for the borrower to pay the loan amount in full, extinguishing the mortgage. Another way to avoid foreclosure would be for the borrower to pay only the missed payments and penalties, often in the form of interest, reinstating the loan.

Paying, however, is most often not an option for borrowers as the lack of funds is precisely the reason why they missed payments in the first place. The borrower may still avoid foreclosure by asking for a forbearance from the bank. This means the bank will temporarily halt the payments for a certain period of time before the borrower resumes payment. This option depends on the current situation of the borrower. Some banks are lenient and would likely forego payment of penalties for borrowers who are out of work. In addition, foreclosure law attorneys can help borrowers obtain a change of the terms of their loans. Modifications include extending the payment period, reducing the principal amount, or interest. Foreclosure law attorneys can also help borrowers seek subsidies from government programs.

Areas of Law

Insurance Law - Legal Information and Resources

Insurance

Insurance is when one party indemnifies another from a predefined risk in exchange for a premium. There are numerous kinds of insurance available to an individual, the most common of which are health insurance, car insurance and property insurance. Businesses also avail of insurance to protect their businesses from future risks. The kinds of insurance available to businesses include general liability insurance, property insurance, worker's compensation, directors and officers insurance, and life insurance.

Insurance terms vary according to the type of insurance provided, the risk insured, and the insurance provider. The general term, however, is that regardless of whether the predefined risk occurs or not, insurance premium will not be returned. Insurance companies play a great role in maintaining economic ability. It is in this regard that the government and courts established laws to regulate such commerce.

Insurance law covers three main issues: insurance policies, insurance claims and rates, and insurance business. Insurance law is a rather young set of rules and regulations. It was not until 1944 when the U.S. Supreme Court held in a case that insurance is a "commerce" and, thus, is subject to Congress' constitutionally-mandated authority of regulating interstate commerce. As a result of the 1944 ruling, the McCarran-Ferguson Act, which provides that state laws control the insurance business, was passed. For insurance business that is not regulated by state law, other federal laws, such as the Sherman Act, apply.

Insurance laws vary from state to state. A business, especially those who operate in many states, must retain the services of an insurance law attorney as they are knowledgeable of not just insurance law but also other areas of law that may affect insurance, such as taxation, labor laws, and securities law. Similarly, an individual must also retain the services of an insurance law attorney especially if the individual seeks to have properties located in different states insured.

For companies seeking to operate an insurance business, federal and state law are rigid in their requirements for such applications. For one, both the federal and state governments require that these companies maintain sufficient liquidity to cover claims subject to insurance policies. In addition, laws also limit the type of insurance a company can provide based on jurisdiction. It is thus imperative for these businesses to hire insurance law experts.

Both insurer and insured must be prudent in understanding the terms of the insurance policies. One of the issues arising from insurance law would be predatory practices of insurers offering undervalued insurance policies. Insurance is a complicated matter. Interpreting the terms of an insurance policy may need the expertise of an insurance law attorney especially if the buyer is unsophisticated. It is easy for an insurance company to lead a buyer to believe that they are buying one type of insurance and receive another type.

Another area of insurance law that would require the assistance of an attorney would be insurance claims. If the insurance policies were ambiguous, insurers can twist the language of the policies and deny coverage to an unsophisticated buyer. Filing an insurance claim is also tedious as the process often requires numerous paper work to evidence the occurrence of the risk covered by the insurance. In cases of health insurance, the insured need to keep all medical records in order to make a successful insurance claim.

Areas of Law

Drug Crimes Law - Legal Information and Resources

Drug Crimes

Drug crime law is a subset of criminal law, which deals with illegal possession, use, manufacture and sale of prohibited drugs. Drug crime law also deals with other criminal offenses associated with the possession, use, manufacture, and sale of illegal drugs. Illegal drugs include both "street" drugs and drugs specified under the Federal Controlled Substances Act of 1970.

Because drug crimes are "victimless" crimes, it has been proven a daunting task for both the federal and state level to enforce the law. Unless drug use has contributed to a violent crime, it is difficult for the government to run after the perpetrators because there is no "victim" except the user or the trader. Under the CSA, the federal government regulates the legal production, possession, and distribution of controlled substances. Some drugs listed under the CSA are allowed to be used and sold provided that they are for specific reasons, such as medical use. "Street" drugs, which are all deemed illegal in the United States, include cocaine, heroin, and methamphetamine.

All drug charges are considered felonies. The gravity, however, of the offense is determined upon the kind of drug involved, the quantity found with the offender, and the offender's intent to sell or use the drugs. The federal government, as well as the state government, is strict in enforcing anti-illegal drugs law that the penalties accompanying drug charges stiffer than the penalties for most crimes. Moreover, conviction for drug trafficking, especially if the trafficking is large scale, also leads to denial of federal benefits and forfeiture of real and personal property.

One of the most common issues arising from drug crimes is illegal stop and search or frisk. Police officers have the authority to stop and frisk suspicious individuals but because the Bill of Rights limits the government's encroachment upon personal liberties, in this case, the right against unnecessary search and seizures and unlawful issuance of warrants, those suspected of a drug crime can argue that they were illegally searched and stopped by law enforcement agencies. In defending a person accused of a drug crime, a drug crime law attorney must take note of the details prior to the arrest of the accused as the procedure as to how the accused was apprehended may lead to his or her acquittal.

With the rising incidences of interstate and inter-country drug trafficking, the federal government created an extensive web of agencies, enforcements, and programs meant to stop the proliferation of drug use in the United States. The government has identified, based on statistics, specific areas and ethnic groups where drug use and trade proliferates. It is thus not uncommon for law enforcement agencies to target impoverished neighborhoods or some ethnic groups in their surveillance. Some of these surveillance activities, however, result to ethnically-biased arrests and accusations. A person who is wrongfully accused of a drug crime badly needs the talent of a drug crime law expert as it is difficult to battle against a government that is bent on working towards a drug-free and safe society.

Areas of Law