What To Expect When Purchasing a Short Sale Property
May 19th, 2013If you are in the market for a new house, then you may have seen some pretty attractive prices out there for homes. You get excited at first and think you found a diamond in the rough. Then you see the term “Short Sale” on the description. A short sale property isn’t something you should shy away from, but it does come with a different set of rules than a conventional home purchase and you should be aware of them before you get too excited.
A short sale simply means that the sale price of the real estate is less that what is owed by the current owners. The lien holder agrees to release the lien hold on the property for an amount that is less than the current lien. When purchasing a short sale, the process is often times longer and more drawn out, but the reward is a good price on a home. If you see a short sale and fall in love with the property, you can make an offer to the current owners. Most times, because it’s a short sale, the homeowners will accept the offer. After the offer has been accepted, the homeowners take the offer to the bank. The bank needs to approve your offer before you can move forward. They will either approve it or reject it, but it can take them a few weeks to a few months to give you an answer. So if they end up rejecting it after waiting 3 months, then it can become very frustrating for the buyer because they may have lost out on a few other nice opportunities while they were waiting. The good news is that once the bank approves the offer, then most of the time, the transaction can proceed as a normal real estate transaction. If you are in a rush to purchase real estate, then a short sale may not be the right option for you. Patience is a virtue when it comes to purchasing a short sale.
As with any real estate transaction, it’s very important to have a real estate lawyer involved in the process. Short sales are no exception.
Juvenile Cyber Crimes
April 27th, 2013Cyber crimes committed by our youth are increasing at an alarming rate. Is this really a surprise? Many kids have their own computers, touch screen tablets, and mp3 players all in the comfort of their own room. As with anything in life, the more you use something, the more intelligent you become with it. Some examples of juvenile cyber crimes include computer hacking, stealing online music, online bullying, online harassing, and viewing online pornography.
Downloading online music without purchasing it is known as Piracy. Piracy can also include videos, software, and DVD’s. Piracy has hurt music industry sales over the years; however, online music sales have been increasing again thanks to legal streaming music sites. Another major problem we have as a nation is dealing with is online hacking. An example of online hacking is when someone (other than yourself) gains access to another person’s personal information without his or her consent. This information can include name, address, phone number, social security number, and credit card information. It is often used for identity theft or credit card fraud. One more example of a juvenile cyber crime is online bullying or harassing. This has become a major issue over the past few years and has lead to countless sad endings. With the use of emails, social media, and texting, teenagers (and even younger) have the ability to embarrass, torment, and threaten other kids. What makes cyber bullying often times more hurtful than face-to-face bullying is that with a touch of a button, hundreds (or millions) of people online can view embarrassing information or pictures of someone. And once that information is out there, it can’t be taken back.
Any of the juvenile cyber crimes mentioned above are a serious threat and need to be dealt with legally. Keeping a closer eye on your teenager and monitoring their online use will undoubtedly decrease their chances of becoming involved in any type of juvenile cyber crime.
Everyone Has Made Mistakes, but Employers May Not be Understanding
March 24th, 2013More likely than not, you’ve done something in the past that you regret. If that regret happened to carry a criminal offense, it may be something that can cause major problems in the future. Although family and friends may be forgiving of past mistakes, potential employers don’t know you that well. Employers tend to be a lot less understanding of your past and rightfully so. Employers can’t possibly know the true character of every potential candidate. That being said, employers have an obligation to their stakeholders to find the most suitable employees. Hiring someone with a criminal past is certainly not as appealing to an employer as someone with a “clean” record.
The fact of the matter is that employers only have a limited amount of information to rely upon when screening potential candidates. Data on criminal offenses is certainly stronger than a personal or professional reference. Therefore, employees hold criminal background checks as a valuable resource. A poor hiring decision can prove to be extremely costly to an organization. The possibility of a potential lawsuit or the additional costs associated with replacing an unethical employee is more than enough to justify background checks. In fact, it is estimated that nearly seventy percent of all employers in the United States conduct criminal background checks prior to hiring. That number is even higher when considering more lucrative types of employment.
Employers now have access to a plethora of screening services and background checks are becoming increasingly thorough. Criminal charges may be hindering your career and perhaps unnecessarily so. Every criminal offense is unique and certain convictions are not eligible for expungement. However, many items on a criminal record are able to be expunged. Expungement refers to a legal process where certain records including: criminal complaints, arrests, warrants, fingerprints, and other items may become inaccessible through background checks. Furthermore, expungement often waives the ability of the court or other law enforcement to hold those particular items against you in legal proceedings. Feel free to give the attorneys at Charles Block a call to discuss expungements in more detail.
Spring Seasons Brings Out The Antsy Buyers, Here Is What To Expect From A Short Sale
February 26th, 2013During the spring and summer months tend to be the busiest season for buying a home. The weather is warming up, homes landscaping begins to look new again and those who have children tend to move when they are out of school. For those who have been looking to buy a new property for some time now may want to know what to expect come a short sale.
You found a home you love, but it’s not your standard settlement process, that is why Charles Block real estate lawyers are here to guide buyers through unknown waters. When the mortgage of a home is in default and the current homeowners can’t pay, they use a short sale to avoid a foreclosure. If you happen to be looking to purchase a short sale you most likely want to pay less than what is due on the mortgage. In a real estate transaction such as a short sale, having an experience attorney by your side it important to push this process along a little faster.
By having an attorney represent you, it will make sure the buyers are not being taken advantage of and that they are paying a reasonable price come settlement. This process may take quite awhile due to the fact that the bank has to agree on the mortgage, which is most likely less than what is owed on the house.
Short sales have become more frequent in the economy today, so homeowner’s avoid foreclosure because it affects their credit. Charles Block real estate attorneys know the ins and outs of the market and will be able to help potential buyers when looking into a short sale to make sure they are getting a good deal, although there is the added paperwork. So when considering buying a short sale, be sure to have an experienced lawyer by your side this spring season.
Kick Off the New Year Right, By Learning Some Easy Tips on How to Avoid DWI or DUI Arrests
January 14th, 2013The first few months of the year, are prime-time months for police officers looking to make arrests against a person who has been involved in a DWI and DUI in Camden County and other areas of New Jersey. In this blog, I will provide you with a list of some easy-to-follow tips on how to avoid being in a situation where a police officer will suspect that you are under the influence of alcohol. Before even getting into this useful list, you must be found with a Blood Alcohol Content (BAC) level over 0.08%, in order to be charged with a DUI or DWI.
Now we can get into the mess of figuring out what penalties or fines a person can expect when he/she is found guilty and charged with a DUI or DWI, but with these tips, you won’t have to worry about that. Some of these tips may seem obvious, but then why do people still get arrested? These tips are focused on how to handle the pre-arrest situation. They will help you avoid having a police officer stop you in the first place.
Obey Traffic Laws by Driving Safe and Drinking Responsibly
I would encourage all drivers, not to drink AT ALL before operation a motor vehicle. However, since it is not illegal and you won’t be penalized unless the BAC limit is over 0.08%, I would encourage all drivers to drink responsibly. In there is ever a case where you have had one or two drinks and you had to drive home, do not give a police officer a reason to pull you over. This means obeying all traffic laws, such as driving under the speed limit and stopping at red lights and STOP signs.
The Police Officer Pulls You Over, Now What? Be Respectful
There are many times where a person is arrested for no other reason than giving the police offer a hard time, when he pulled him/her over. If a police officer is having a long, hard day, the last thing he wants is a driver to give him any sass. When stopped by the officer, it is not a wise decision to challenge him/her, or request to see the supervisor. A more effective strategy is to be respectful. Remember, they put their lives on the line every day, keeping the world safe and making it a better place. When asked a question, an officer will respond greatly to “yes sir, no sir” answers. Treating the officer with respect will go a long way and sometimes they will cut you a break. If you respond by being uncooperative, the officer will take that as a sign of intoxication or consciousness of guilt.
To Make the Experience Less Complicated, Put the Officer at Ease
There are many things you can do, as a passenger of a motor-vehiclist to keep the police officer at ease after he pulls you over. Again, these may seem like obvious tips, but you would be surprised by how many uncooperative drivers a police officer has to deal with each year. First, keep both hands on the steering-wheel, so the officer can see them. This way, he knows that you aren’t dangerous. Secondly, turn on the emergency lights and the interior lights, especially if you are pulled over at night. If the officer knows that he is safe and you are under control, it won’t be likely that he will begin asking you questions like, “Have you had anything to drink tonight?”
Always Have Your Driver’s License, Registration and Insurance in a Readily Accessible Place in the Car
A police officer can only proceed with breath-testing and making any charges when he has reasonable suspicion or probable cause. The court will look at the “totality of the circumstances,” in deciding whether the police officer had reasonable suspicion or probable cause. One of the first things a court will look at when factoring the totality of circumstances is if the driver had trouble finding any of his important documents including his/her driver’s license, registration and insurance. All drivers in New Jersey should have these documents in their cars at all times. If you are having trouble finding any of these, the officer will begin to look for reasons to suspect that you may have been drinking.
Do Not Tell the Officer That You Have Consumed Any Alcohol
You do not have to worry about this, unless you do not follow the tips listed above. However, if you choose to ignore those tips and become uncooperative as soon as a police officer pulls you over, he may ask you if you have consumed an alcohol. It is a personal decision that you have to make, whether or not to lie to the officer or admit that you are guilty. If the officer asks you that question, there is a good chance that he/she already suspects that you have been drinking. If you admit that you are guilty, then he can carry on with the investigation. If you lie, but the officer has enough suspicion to carry on with a breath test and the BAC level is above the limit, it will come back to haunt you.
Being Smart This Holiday Season is Crucial To Staying Out of Hand Cuffs.
November 20th, 2012While everyone is out enjoying the holiday with beer, wine and spirits the local police force is on patrol most likely not in the holiday spirit. Because the numbers of people on the roads increase dramatically during this time, it is not uncommon for the amount of check points to go up through these next couple of months. Being smart this holiday season is crucial to staying in the company of your family and not with the counties finest this year.
It isn’t uncommon for people to get jammed up with the police while celebrating the holidays for getting a DUI and DWI in NJ. But by planning ahead you can keep yourself out of trouble and out of the local newspaper. Before you go to a family members , friends or your local bar to celebrate make a few good decisions:
First, figure out how you are going to get your destination safely.
Second, make arrangements to get picked up before you go so that you aren’t stranded at the end of the night. No matter how old you are, your parents will always pick you up.
Third, if going to a family members or friend’s house bring a blanket and pillow so you can find a spot to crash. We all know that after a few drinks a couch or floor is just fine.
Lastly, be smart! Draw straws to see who the designated driver is. Sometimes we all have to put our pride aside and step up to keep our family and friends safe! Being this person is a big responsibility, but comes with the peace of mind knowing that not only will you get home safe and sound but also that the people you are with will as well. In some ways this can be the biggest present you can give. Also you won’t be looking for an expungement Lawyer in NJ to get rid of you DUI and DWI in Camden County NJ.
The Importance Of Obtaining Car Insurance
October 5th, 2012Owning automobile insurance is probably the most important part of being a driver. Being a driver holds an incredible amount of responsibility, and it is up to that person to make sure they, their passengers, and others on the road are safe from vehicular harm. If an accident does happen to take place, it is the responsibility of those who are involved to have adequate auto insurance in order to legally and financially protect themselves.
Insurance Is The Law
Many states may require drivers, as well as their automobiles, to be insured. This protects other drivers from unsafe and financially dangerous situations. It is often the case that if an insured person is in an accident with an uninsured driver, the insured person may end up paying most of the damages, causing their insurance to go up in price. The state in which you live in and drive in probably requires that you carry a certain amount of car insurance on your vehicles. States will also mandate what type of car insurance is required. In some states, you only need liability, while other states may require more.
Every driver should understand that in many states if you are pulled over by the authorities and have no car insurance you run the risk of having your vehicle impounded on the spot. While in other states it is illegal for the police to allow you to continue driving once they know you do not have the proper automobile insurance. In addition to having your vehicle impounded you may also be charged with heavy fees and fines by the courts.
Insurance Offers Protection
Additional, reasons why owning auto insurance is so important is for financial, medical and personal protection. Auto insurance may cover such things as bodily injury, vehicular damage, and theft. It may also be able to help with payment of medical bills, to temporarily replace income, and to assist in financially repairing or replacing damaged automobiles. Now, if a person is an uninsured driver, and they are involved in an accident, they may find themselves in a financially compromising situation.
Alternatives To Avoid Foreclosure
September 6th, 2012There are many options available to local residents facing foreclosure. The type of mortgage loan you have may determine what types of alternatives you may be eligible to pursue in order to avoid foreclosure. Keep in mind that it is important to contact your lender to discuss which alternatives you are eligible for, and which one is best for your situation.
Bring Your Payments Current (reinstatement)
Homeowners can reinstate a mortgage up to the day before a final foreclosure sale, and it doesn’t require lender approval. You may also pay your lender the full amount due, including all back payments, fines and fees.
Rent The Property
Renting the property is an option for homeowners who have mortgage payments low enough that a rental payment allows the loan to be paid. However, keep in mind that with rental properties, many expenses, taxes, insurance and landlord responsibilities are a factor, and rental income may not cover the full cost of ownership and maintenance.
Loan Modification
If you can make payments on your loan, but don’t have enough money to bring your account current, your lender may change the terms of your original loan to absorb your delinquent payments and make the payments more affordable. Your loan could also be permanently changed by adding the missed payments to the back end of the existing loan balance, lower the interest rate, make an adjustable rate fixed, or extend the number of years you have to repay your loan.
Refinance
If you have enough equity in your home and your credit is still in good standing, you may be able to refinance an unaffordable loan and achieve lower payments.
Payment Plan (forbearance)
A forbearance agreement means you pay only a portion of your regular payment or no payment at all for a specific period of time based on your current financial situation. This temporary solution provides time to save money, pay off other bills, find employment or additional employment, or recover from injury or illness. At the end of the forbearance period, you begin making regular payments as well as an additional amount to pay off the past due amount.
Bankruptcy
In some situations and in some states bankruptcy stalls the foreclosure process and may allow you to live in your home and repay your lender under different terms.
HUD Partial Claim
If your loan is an FHA insured loan, your lender may be able to obtain a one time payment from the FHA Insurance Fund to bring your mortgage loan current with payments.
What Are The Effects Of A Foreclosure Or Short Sale On Your Credit Score?
August 29th, 2012With so many consumers evaluating their options, it is important to understand the difference between a short sale and a foreclosure, and how each option may impact your credit scores. So, what is the difference between a short sale and foreclosure? A short sale occurs when the lender agrees to accept less than the total amount owed on the mortgage loan. A foreclosure is the legal termination of all rights of the borrower as the owner of the home and the lender repossesses the home. In a foreclosure, the estate becomes the absolute property of the lending institution.
The perception that a short sale will always have less impact on a credit score compared to a foreclosure is simply a credit score myth. If a foreclosure or short sale appears on your credit report it is considered negative because it predicts future credit risk. Generally speaking, the impact on your credit score will be similar for both a foreclosure and a short sale.
The exact score impact of a foreclosure or a short sale will depend on several factors including:
.Additional information reported on the mortgage account, included in a foreclosure or short sale. For example, late payments associated with the mortgage account prior to the foreclosure or short sale and how recently those past due payments took place.
.Current credit profile of the consumer. For example, how the consumer is managing all their other credit obligations such as credit cards, car loans, student loan, etc. Are other bills being paid on time or have missed payments been reported on these as well? And are credit cards showing high balances?
.The negative impact on a credit score appears more severe if a foreclosure or short sale is reported on a credit report that has little or no history of missed payments and or derogatory information. In these scenarios, the number of points lost can be 150 or greater.
The Effects Of Drinking And Driving
July 6th, 2012Drunk driving is a major problem that law enforcement is striving to prevent and control. An alcohol-related car accident and drunk-driving conviction can have many negative consequences in your life, including jail or prison time, a criminal record, car repair or replacement, restitution, guilt and grief over harm to others, higher insurance premiums, a civil lawsuit, fines, court and administrative fees, community service, alcohol education, substance-abuse treatment, social stigma, and restrictions on or revocation of your driver’s license.
The causes and effects of drinking and driving are staggering. Poor coordination, disorientation, blackouts, slurred speech, poor self-esteem and double vision are just the short-term effects of alcohol abuse. The long-term effects of alcohol consumption can include heart disease, peptic ulcers and cirrhosis a debilitating liver disease called.
Studies have shown it only takes three to four, 12-ounce beers for a 170 pound male to become intoxicated, and one to three of those same beers for an average sized woman to become intoxicated.
After the nightmare of a drunk-driving trial, conviction and sentence, your driving privileges may still be intact or may be restored. However, the question of automobile insurance becomes more complex and expensive. Exactly what your insurance company legally can do varies from state to state and depends on the insurance law of your state.
Your insurance company may cancel or decline to renew your policy, restrict coverage provisions or increase your premiums based on your drunk driving record. Overall your premiums could go up as much as 100 percent or more.
How your insurer reacts to your drunk driving may be worse if you have other strikes against you, including previous drunk-driving convictions, traffic tickets, at-fault accidents, late or unpaid insurance premiums or other negative history with the insurer. Other significant issues your record may impact is coverage by other types of insurance policies, such as life or medical insurance.
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