What is Wrongful Foreclosure?

Apr 03

Facing financial troubles can already cause a lot of stress. However, when an individual fail to make payments on mortgage, they could also stand to lose their most valuable possession. It’s not hard to imagine that losing one’s home can be a devastating experience. Unfortunately, foreclosure is an experience that is becoming increasingly widespread across America.

Even more alarming is the fact that such incidents could have been avoided if not for negligent errors. According to data gathered by the Office of the Comptroller of the Currency (OCC), about a third of all foreclosed borrowers faced to lose their homes due to errors on the part of banks and mortgage companies. All in all, 1.2 million borrowers came to face wrongful foreclosure.

Foreclosure is basically a legal process where a creditor or lender attempts to recover debts incurred by a borrower that has not been making payments through forcing the sale of certain assets. Most of the time, this asset is an individual’s home. Wrongful foreclosure happens when a bank, mortgage company, or any other money-lending financial organization pursues this process illegally.

According to the website of real estate litigation lawyers at Gagnon, Peacock, & Vereeke, the following issues are typical factors in rendering a foreclosure illegal:

  • Bad faith on part of the lender
  • Errors and continued use of banned practices
  • Predatory lending practices
  • Failure to provide borrowers with appropriate and sufficient notices
  • Overcharging homeowners through additional late payment fees

These are just some of the many issues that can allow wrongfully foreclosed homeowners enough ground to fight illegal practices. If you are currently facing a wrongful foreclosure, know that you have legal options that could help you navigate through your dilemma. Your best recourse is to consult with experienced legal counsel in your area, such as a Plano wrongful foreclosure lawyer.

Read More

Premises Liability: Slip and Fall Accidents

Apr 02

There are certain accidents that are pretty easy to avoid. As long as safety precautions are followed with extra care, a large number of individuals can be saved from the risk of injury. Among such accidents include slipping and falling. While these accidents might sound simple compared to other, more disastrous situations, they occur frequently enough to be some cause for concern.

According to the National Safety Council, slip and fall accidents are responsible for around 8.9 million emergency department visits every year. About 10 percent of all civil lawsuits in America are for premise liability. Among all these lawsuits, the most common complaint is for injuries caused by slip and fall accidents.

Slip and fall accidents can happen anywhere—from homes, places of business, to areas like malls and parks that people typically frequent for recreation. As long as premises have certain hazards and dangers lying around, a slip and fall accident is always a looming possibility. Among such hazards include wet and slippery floors, uneven flooring, cracked pavement or concrete surfaces, exposed wires, uncovered pegs, staircases and inclines without proper handrails, poor lighting and unnecessary clutter along walkways.

Injuries that commonly result from slipping and falling include sprains, broken bones, and torn muscles and ligaments. There are, however, certain accidents that could lead to more severe outcomes such as injuries to the back, neck or head. In some cases, such outcomes could lead to traumatic brain injuries and spinal cord injuries. Both types of injuries could severely limit a person’s physical capabilities, impeding their ability to move around.

Slip and fall accidents are easy to avoid. More than taking extra care when out and about, property owners should also know that they are equally responsible in preventing the occurrence of such accidents. Property owners need to make sure that their premises are free of any hazards. Liability for slip and fall injuries can be reduced as long as property owners do their best to keep their premises safe and well-maintained.

Read More