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Homeowners, who are faced with the threat of losing their home due to delinquency in the payment of mortgage, but who still hope to save themselves from the negative effects a foreclosure will make on their credit rating, may resort to either a short sale or, the now becoming popular, deed in lieu of foreclosure.
In the deed in lieu of foreclosure arrangement, a homeowner is still bound to lose ownership of his or her property; the homeowner’s financial incapability causes him or her to surrender his or her property to the lender in exchange of the cancellation of the loan. This arrangement also does away with the necessity of filing for a foreclosure proceeding, saving both lender and loaner from the inconveniences and fees associated with it.
Prior to the actual acceptance of the deed in lieu of foreclosure, however, the loaner may be required to put his/her property on the market, usually for a duration of three months (there are instances, though, when property owner is simply asked to turn over the deed/title to the lender). If asked to sell his/her own house, this is because lenders would, as much as possible, prefer not to incur costs associated with maintaining and selling it.
A deed in lieu arrangement will definitely not cause a major effect on your credit, just make sure that the lender agrees to forgive whatever balance on the loan may still remain after your property has been sold. But to enjoy all the benefits a deed in lieu of foreclosure can provide, you first have to qualify for it. Eligibility for this arrangement requires that your property does not have tax liens on it and that you do not have home equity loans or any other existing mortgages.
There are lenders, especially those who already have more than a handful of foreclosed properties, who would not be willing to accept a deed in lieu proposal. They would rather take cash for payment of mortgage. There are also lenders, however, who would think twice before rejecting the proposal, knowing that a foreclosure would be more costly on their part.Read More
The introduction of the oral drug Avandia or Rosiglitazone was welcomed by doctors as it served as a great alternative to patients who, for medical reasons, could not take Actos or any other drugs for Type II diabetes. Rosiglitazone was either manufactured alone or was combined with other drugs to form a new medication; such is the case with Avandamet (Rosiglitazone combined with metformin) and Avandaryl (combination of Rosiglitazone and glimepiride).
Avandia can be prescribed alone or with another diabetes medicine and is usually taken with proper diet and exercise. It is, however, not intended for type 1 diabetics due to their system’s inability to produce enough insulin or total failure to produce insulin.
Avandia was manufactured by the UK pharmaceutical company SmithKlineBeecham Corporation and approved for distribution by the US Food and Drug Administration in May 1999. SmithKlineBeecham Corporation is now registered under the name GlaxoSmithKline after its merger with another UK firm, Glaxo Wellcome, in January 2000. The merger resulted to the formation of world’s largest drug company.
After becoming Glaxo’s second most-bought product and after being prescribed to more than six million patients worldwide, Avandia’s sale dropped following a public warning by the FDA which said that the drug increased the possibility of congestive heart failure and fatal heart attack in patients. It was even issued a block box warning, FDA’s most serious warning on a drug due to its life-threatening effects.
Different studies made on the drug, however, showed conflicting results; this means that while many did suffer from heart ailments, some others did not. Thus, despite the black box warning, the FDA decided not to recall the drug; it required further studies about Avandia, however.
The many cases of heart ailments and deaths where Avandia is named to be the cause, plus Glaxo’s failure to include on the drug’s label its risks to health are enough to render the firm negligent of its responsibilities towards millions of patients. This means patients can run after Glaxo for compensation. But, according to the National Injury Law Center, patients ought to know that there is a statutory deadline for filing claims; missing this deadline will outrighlty disqualify them from making any claims.
The National Injury Law Center has been, and continues to be, a dedicated defender of patients’ rights. It has a website where patients’ questions about drugs’ adverse effects and medical errors are clearly answered and patients’ legal options are provided. Know if you are qualified to file a lawsuit claim, but make sure you file it on time, otherwise, you lose this right totally.Read More
The world’s top Bitcoin exchange, Mt. Gox, is facing a breach of contract lawsuit after allegedly failing to meet the contractual obligations of the partnership it signed with CoinLab. The partnership was designed to simplify Japan-based Mt. Gox’s business with Bitcoin traders in the United States and Canada in light of proposed regulations.
Bitcoins are a virtual currency generated by a complex hashing algorithm. A Bitcoin is generated when a computer solves the algorithm. The complexity of the hashing algorithm increases with every Bitcoin that is generated, meaning the next one will take longer to be discovered. The process of generating Bitcoins is called “mining” and people build powerful computers for the sole purpose of mining the anonymous currency. Over the past few months, the price of Bitcoins has fluctuated dramatically, reaching a high of $266 per Bitcoin in April, and then dropping to their current (as of writing) value of $90 apiece. Presently more than $23 million worth of Bitcoins have been mined around the world.
Mt. Gox is a business that exchanges Bitcoins for physical currency. Since Bitcoins are not yet a widely accepted form of payment, the service enables Bitcoin owners to increase the liquidity of their investment in the virtual cash. Mt. Gox entered a deal with CoinLab in February, allowing the smaller company to handle all of its U.S. and Canada transactions. However, CoinLab claims that Mt. Gox failed to share crucial information and server access it needed to carry on its duties as a Bitcoin exchange, resulting in a breach of contract.
In all, CoinLab claims Mt. Gox breached its contract in at least eight different ways. The lawsuit seeks $75 million in damages.Read More
Most states closely follow the rules and regulations as they are set down in the Fair Labor Standards Act (FLSA). As such, the exemptions from overtime pay is also followed, including the sections that describe some computer or information technology employees who are considered professionals and defined under the Electronic Code of Federal Regulations Part 541 Subsection E (updated as of March 21, 2013) which states:
“Computer systems analysts, computer programmers, software engineers or other similarly skilled workers in the computer field are eligible for exemption as professionals under section 13(a)(1) of the Act and under section 13(a)(17) of the Act.” The “Act” refers to the FLSA.
“The section 13(a)(1) exemption applies to any computer employee compensated on a salary or fee basis at a rate of not less than $455 per week (or $380 per week, if employed in American Samoa by employers other than the Federal Government), exclusive of board, lodging or other facilities, and the section 13(a)(17) exemption applies to any computer employee compensated on an hourly basis at a rate not less than $27.63 an hour.”
However, having a job title that is included in the above passages does not mean the employee is automatically exempted from overtime pay. Both the FLSA and eCFR specify the primary duties of a computer-related employee which include:
Moreover, a computer-related professional should not use more than 20% of work hours engaged in non-primary functions. Excluded in these definitions are employees engaged in computer part manufacturing or repair, and whose computer use does not involve the design, programming or system analysis of software. So a data encoder, for example, is not considered exempted from the overtime law in many states.
If you or someone you know was exempted from overtime pay and does not qualify for the exemption under the above conditions, then you are not being paid properly. You may have to engage the services of a business lawyer to help pursue the full and fair wages you have earned.Read More
The medication, brand name for the drug Finasteride, has been a revolutionary hair loss solution for many men, as it has helped many men with male pattern baldness to regrow hair. Unfortunately, this medication hasn’t come without serious consequences. Many men who took Propecia or Proscar, another brand name for Finasteride, have reported serious side effects connected to use of this drug.
Just some of the side effects that Propecia users may experience include the following:
For many men, the side effects of Propecia and Proscar have resulted in serious and long-term suffering, prompting many to take legal action against Merck, the maker of this medication. In fact, many individuals who have suffered because of this medication’s adverse effects have joined into class action lawsuits with others who have suffered similarly.Read More
Assault and/or battery are criminal acts that may also be considered civil torts (wrongs) that can be the basis for lawsuit in civil court pursuing compensation. Most personal injury cases are accidental torts wherein the negligence of the defendant caused injury to the plaintiff, but there was no intention of harm. Assault and battery, on the other hand, are intentional torts. The objective was to cause physical harm, or at least to threaten it. A personal injury lawyer with experience handling assault or battery claims may be able to protect your rights and help you in your pursuit of compensation and justice.
A case of assault does not always mean there is also a case for battery, and vice versa, although the two torts often go together as a matter of course. Below is a brief description of how the civil code defines assault and battery.
Assault in a civil tort sense doesn’t have to involve actual physical force from the defendant to the plaintiff. It has only to be proved that the defendant expressed intent to do harm and had the capability of carrying out such intent, leading to the reasonable fear of the plaintiff of imminent physical harm.
Battery, on the other hand, does require some type of forceful physical contact delivered offensively, without the plaintiff’s consent i.e. participation in a contact sport. It doesn’t matter if the contact was accidental as long as the intent of the defendant to do harm was evident.
To illustrate, let’s say that Tom’s large neighbor confronts him on the street and tells Tom before witnesses that if he doesn’t get his dog to stop barking, he will kill Tom. That can be considered assault but not battery. If the neighbor escalates the encounter by grabbing Tom by the collar and shaking him, then can be a case for civil assault and battery. But if the neighbor throws a rock at Tom’s car as it passed by and hits Tom instead, that is a case of battery but not assault, as Tom had little or no apprehension of danger prior to being hit by the rock.
A personal injury lawyer may be able to help a victim secure compensation for damage to property, bodily harm, medical expenses, and loss of income as a direct result of the injuries sustained. However, since assault and battery are also criminal offenses, the case may also be handled in a criminal court.Read More
The excitement of the high-speed car chase has been fueling the success of movies like Fast and the Furious, and the Italian Job, and countless other action movies. It calls to the daredevil in a person which craves that adrenaline rush. But in reality, speeding even a bit over the limit can bring about serious injury, even death.
There are about 6 million auto accidents a year in the US alone, and 40% of those are caused by driving under the influence of alcohol (DUI). That’s not surprising. What is shocking is that not far behind is speeding, which accounts for 30% of these accidents. When caught DUI, a driver can face jail time and hefty fines, while those caught speeding get a ticket and just pay a fine. If there are no injuries or deaths resulting from speeding, the penalties for speeding are often incredibly light. A ticket can even be forgiven if you take a course in defensive driving in most states.
Fatalities due to speeding and DUI combined in 2011 was in excess of 3,000 in the state of Texas alone. For speeding alone, the death toll was 278, and 6 of them were pedestrians!
There is a reason why speed limits are posted. Speeding above the posted limit is, according to Part 545 of the Texas Transportation Code, “an offense if the person drives a vehicle in willful or wanton disregard for the safety of persons or property.” The key words here are “willful” and “wanton” which suggests negligence. In Texas, traffic accidents have declined somewhat but it is still higher than the national average mostly due to reckless or negligent conduct of the driver.
If you or someone close to you has been harmed by the reckless speeding of a driver, you can consult with a car accident attorney about filing a personal injury claim for damages. This would be on top of the felony charges that would be levied against the driver.Read More