bytestyle.tv Shelly Roche reports in on a new Cybersecurity bill would grant the President unprecedented power to shut down the internet and ignore privacy laws. Resources: www.opencongress.org www.govtrack.us Contact your reps: www.congress.org Contact your reps and local newspapers: www.usalone.net More information: www.eff.org blog.cdt.org www.eweek.com www.breakthematrix.com Sponsor my next video! bytestyle.tv Stay in the loop: twitter.com — … cybersecurity news obama technology tech …
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Feldman Law Center - News by Feldman Law Center — A little known aspect of the Obama Administration’s “Making Home Affordable” plan is the “Net Present Value” test which essentially determines whether a loan modification or a foreclosure and sale will provide a better return for the investors behind the mortgage in question. The calculation takes the proposed monthly payment in a home loan modification and multiplies it over the life of the loan (payment x 12 months x 30 years). If that total comes in above what a sale and foreclosure would yield, the calculation would favor a modification. If it falls short, the calculation would lean toward foreclosure and sale.
Foreclosures in many scenarios will favor the investors while a modification often works to the advantage of the servicer. For the investor, a foreclosure and subsequent sale may result in a loss of principle but money coming back to the investor can be re-invested in other vehicles which can provide yield and returns. The disadvantage for the servicers is that, without monthly payments from the property, they lose the fees they were able to charge the investor for handling the payments, billing, and communication with the homeowner. A loan modification, on the other hand, benefits the servicer by keeping the payment stream, and the fees they can charge on it, alive. The modification hurts the investor by forcing a mark to market valuation which reflects the loss on the mortgage (also known as a haircut) due to a lower interest rate and, if applicable, a reduction in principle.
The third party in the game is the homeowner (Bob) applying for the loan modification. It’s likely that the homeowner has heard of “Making Home Affordable” and is very aware of the 2% interest rates that were part of the headlines generated by the plan. Naturally, that’s the rate he wants. Unfortunately, getting Bob a 2% interest rate is not in the interest of either the investor or the servicer of his mortgage. For the investor, the lower the interest rate goes the bigger the haircut. Memorializing it in a modification will turn a theoretical haircut into an actual loss on the books. For the servicer, an interest rate at that low level can push the NPV score to a point where the test favors foreclosure over modification. If Bob’s property isn’t considered a lost cause it’s extremely unlikely that he’s going to see anything close to that 2% rate.
One of the other variables is Bob’s commission based income. His payments are going to be capped at 31% of his average monthly income, which has dropped considerably. In fact, it’s dropped so much that even by maxing his payment out at 31% of his monthly pay he falls below the estimated foreclosure and sale score. Conditions dictate foreclosure according to the net present value test.
The investor, seeing a score that clearly calls for foreclosure takes a look at sales statistics for Bob’s town and his neighborhood. Nothing is moving and foreclosure backlogs are growing. Average bids at auctions are coming in at less than 60% of the loan amount. Less than 2% of foreclosed houses are selling at auction. The estimate on what the property can realize in a foreclosure and sale is way too high for current conditions. If the house sells, and it’s a big if, it won’t be for anything near the price used in the NPV calculation. The investor decides to pull back on the foreclosure due to the regular hits he’s already taking in his portfolio and his aversion to putting another property into the portfolio. The pullback on the foreclosure doesn’t mean he’s going to allow for a modification, however. There’s a haircut waiting with the modification as well. This property is going to sit in limbo while things work themselves out.
There won’t be any communication regarding this stalemate between Bob, the servicer, or the lender. From Bob’s point of view the servicer’s people aren’t responsive and aren’t calling him back. The truth of the matter is that the servicer’s processors know as much about Bob’s situation as Bob does; not much. The sides settle in to the day to day of nothing happening which stretches to months.
The commentary from homeowners that have tried to modify their mortgages under the guidelines of Making Home Affordable runs along a thread very similar to that of our theoretical Bob. While much of the delay can be attributed to overload, staffing, and training issues at the lenders and servicers, the stalemate between servicers and their investors is bogging things down as well. The Safe Harbor Bill, passed by Congress in May, was aimed directly at this standoff. Its main objective was to remove the threat of lawsuits filed by investors when they felt that the servicers were acting on their own best interests in approving loan modifications.
While there may be a conflict of interest currently, neither side wants to go to war over this issue. Despite the increased autonomy given the servicers, it’s likely that they will still want to be on the same page with investors to preserve long standing relationships that have worked well over time. It therefore looks like limbo, status quo, and homeowners waiting for a knock on the door will rule the day and the near term.
Those homeowners seeking to avoid this quagmire would be best served to hire legal representation familiar with the process to either navigate the Making Home Affordable guidelines or to modify their mortgages independently from the government program. With over 600 successful home loan modifications negotiated on behalf of their clients, The Feldman Law Center is well suited to guide you through your loan modification. Call them today at (949) 544 8224
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The bankruptcy laws in earlier times used to affect the debtor harshly as the creditors used legal and physical methods to get back their credits. But as time changed, new bankruptcy laws evolved as well as older ones were amended to make the laws more permanent and beneficial for both the debtors and creditors.
If you are facing a financial crisis then you should get the help of a bankruptcy lawyer that can help you understand the complexities of chapter 7 and chapter 13 and other procedures related to it.
About Chapter 7 Bankruptcy:
Chapter 7 bankruptcy: otherwise known as liquidation is most common and is proposed for the discharging of the unsecured debts such as medical bills, credit card debt, and unsecured personal loans. These types of bankruptcy can be completed within a period of months. It gives trustees, the ability to pay creditors by liquidating the non-exempt assets, although due to problem of absence of non-exempt assets among people who are filing the chapter 7 bankruptcy, the trustees are able to keep their property and can easily eliminate the debts which are unsecured.
Eligibility
The qualification for being eligible to file a chapter 7 bankruptcy is the debtor must be an individual, a corporation, a partnership or any other business entity. The first thing that will be done to check your eligibility is that your average income for 6 months earlier to the filling date and comparing it with the median earnings of the state in which you reside if your average income is below that median income then you are eligible to apply.
One another important eligibility criteria is to be able to discharge your non-exempt debts you should have unsecured debts such as consumer debts, medical bills, or payday loans.
There are certain conditions that make you ineligible and you should take care about these:
1. If you have enough disposable income to repay your debts , after cutting the allowed expenses and important debt payments for repaying small portion of the unsecured debts on a five-year repayment phase 2. If you have already attained a chapter 7 bankruptcy earlier within a time period of the last eight years prior to the time of filing.
Proceedings and working:
The chapter 7 bankruptcy works on the concept that any of the secured assets a petitioner has will be handed over to an estate which is a legal that becomes the temporary owner of all secured assets and the creditor has no right to liquidate these assets until the case is over.
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With what humankind knows today of the laws of physics, is it possible or plausible to create a virtual universe that obeys the same laws we do? How great of an effect would you speculate the unknown laws have on the universe? When it comes to a functional model, how important are the little things? Could the laws be practically entered into a computer simulation that replicated our universe?
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Brain Injury: If you believe you have a brain injury, seek treatment at the earliest possible date. Even if you don’t think you have suffered a brain injury, you should report to your physician any symptoms that might suggest a brain trauma or blow to the head, such as pain or bruising, headaches, loss of memory of events before or after an accident, dizziness, tinnitus (ringing in the ears), bleeding or seepage of fluid in the ear canal, or any other suspicious symptoms.
An emergency room physician should be prepared to respond to your questions about your symptoms, and can help determine if you show any immediate signs of brain injury, or if you should go through testing or further examination for possible injury.
It is a common mistake to assume that a brain injury cannot result from a low-speed traffic accident. There is now substantial medical literature, establishing that brain injury can occur even as the result of “minor” traffic accidents. Don’t allow yourself or your physician to be fooled by the “minor” nature of the accident — if you show any signs of a brain injury, you should explore the possibility that you have suffered one.
Traumatic brain injury (TBI) can arise from a variety of causes. The most common cause is a direct blow to the head of the injured person. However, a brain injury can occur even without a blow to the head - the brain can be injured by colliding with the inside of the skull.
The brain can “ricochet” inside the skull as the result of an accident, resulting in injury even with little or no direct force to the outside of the head. Brain injuries can occur suddenly, as the trauma causes tissues in the brain to tear, or can occur as a result of swelling or bleeding of the brain following a traumatic incident.
TBI can result from violent shaking (as with “shaken baby syndrome,” sometimes seen in abused children), a loss of oxygen to the brain, poisoning or infection.
Serious brain injuries are usually apparent at the time of injury. However, mild traumatic brain injury (MTBI) is less likely to be diagnosed. Symptoms associated with MTBI include:
Brief loss of consciousness;
Loss of memory immediately before or after the injury;
Any alteration in mental state at the time of the accident;
Focal neurological deficits.
In many MTBI cases, the person seems fine on the surface, yet continues to endure chronic functional problems. Some people with MTBI suffer from post-concussion syndrome (PCS), and may experience significant changes in their personality and cognitive abilities.
Traumatic brain injury can significantly affect an injured person’s mental, physical and psychological well-being.
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Now that I have your attention, I am writing an absurd short story in which one of the characters decides to sacrifice a cow in a city park. This will probably get him in a lot of trouble, but what kind of legal violations would he most likely get charged with? Would it be something generic like disturbing the peace, or would there be any more specific laws applying to such grisly displays?
For what it’s worth, the story probably takes place in Calgary, Alberta. This is a North American city of about one million people.
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I saw the secret videos on youtube which explain the laws of attraction and I was curious of any or all the other laws of nature to be mindful of. Any books to recommend would be great too.
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Contract lawyers are a necessary and very important part of the Australian legal system today. Contracts are an agreement between to individuals or, more often, companies for the exchange of a product or item in exchange for money or something of monetary value. Australian law states that in order for a contract to exist, these four elements or factors must be present: agreement, consideration, intention and certainty. Without the assistance of contract lawyers, many of these contracts would not be binding and contract could not be completed.
Contract lawyers are important because they have knowledge of statutory regulations and laws. They’re important because they are familiar with the government laws that have been passed as well as the many government officials, giving the ability to properly explain the laws to their clients as well as best represent them in cases involving contract law.
Many contract law cases never make it to court because they’re handled by negotiations or settlements outside of the courtroom. Situations such as this are the types that require the assistance of a good contract lawyer the most. Contract law varies depending on where one lives as well as the type of contract case being handled and represented. Contract cases generally are less dramatic than cases involving trials and involve negotiations more than any other method.
Contract lawyers may work for firms or businesses or may also own their own business, working for themselves. Whether they work for a law firm, large corporation or are self-employed will determine what type of corporate law they may specialize in, an important factor when looking for a contract lawyer. Knowing this type of information will best help you determine if they will be able to help you with your contract case. Contract lawyers in Australia handle a variety of different types of cases, some of which may include:
• Creation of contracts
• Insurance contracts
• General business contracts for businesses
• Verbal agreements
• Partnership agreements
• Contract termination
• Leases
• Consumer issues
• Loan documents
• Cases of negligence
Determining the needs your case involves as well as what type of contract cases each individual contract lawyer handles is the best way to choose a contract lawyer that will be the most helpful to you in your contract case. There have been occasional cases where problems have risen in a case where the competence of the contract lawyer has come into question because of the way the case was resolved. Most cases like this don’t have as much to do with the incompetence of the contract lawyer as much as not hiring a contract lawyer familiar with that particular type of contract law, so always hire a contract lawyer that specializes in your specific type of case.
When looking for a good contract lawyer, there are certain questions you may want to ask before making a decision to hire this particular contract lawyer.
1. Where did they get their degree or do their studying? Although some people believe one degree is as good as the next, it’s important that your contract lawyer earned their degree in a reputable school that is known for providing excellent education in this field.
2. What is their experience in contract law? Although it’s great when someone fresh out of college is given a break and hired to represent a client, you may not want to be the client he’s representing on his first case. Experience, they say, is the best teacher and you want a contract lawyer that has experience in contract law.
3. Do they have experience in contract cases that are similar to yours? You may find a contract lawyer that has years of experience in contract law but if the experience isn’t similar to your particular case, you’re not getting the most benefits you possibly can from a contract lawyer.
4. What type of results or outcome do they see in your case? If the contract lawyer you’ve hired is experienced in your type of case, they’ll be able to make some sort of prediction as to where you stand legally. You want a contract lawyer that’s positive yet honest.
5. Why does this contract lawyer feel he’s the best for the job (if he does)? If your lawyer feels he can adequately handle your case, ask for an explanation of why. If, on the other hand, he doesn’t feel he’s the most qualified for this type of contract case, take his advice and find a different contract lawyer.
6. What guarantees do you offer with your services? Although there isn’t any way a lawyer can predict an outcome, there are certain things they’ll do and handle that are part of their fee. Find out what they are.
7. What are the contract lawyer fees? Have the lawyer explain the fees. If the fee seems high, ask what things can be eliminated, without hurting your case, to make the charges less. Ask if there are certain things you can do to help lessen the charges.
8. What is their success rate in cases like yours? Make sure that if this contract lawyer is successful in contract law that his success also lies in cases similar to yours. The best contract lawyer in Australia is not going to help you in a divorce case. Make sure his success rate will benefit you and your case.
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