Month: January 2015
Month: January 2015
  • Protect Yourself from Home Repair Fraud

    Homeownership is the American Dream, but what happens when that dream turns into a nightmare?  Picture this: It’s December, and you’ve recently undergone hip replacement surgery.  To make things easier on yourself, you take out a loan and hire a contractor to make some accessibility modifications to your home, including installing a walk-in shower.  When you meet with the contractor, he shows you some before and after pictures and a copy of a license to perform work.  Now fast forwa...
  • #drivingselfie – The Latest, Potentially Deadly, Social Media Craze

    As the old saying goes “there’s a time and place for everything.”  Every time you blink an eye, someone is snapping a self-portrait know as a “selfie” from their hand-held device.  Sounds innocent enough, right?  Maybe so, as long as it’s not from behind the wheel of a motor vehicle.  This is not the time, nor the place, to be distracted. Taking a “selfie” while driving is a form of distracted driving.  It requires one to reach for their phone, open the camera, and take a...
  • U.S. Supreme Court Gives Homeowners More Ability to Cancel Their Mortgages

    Three years after borrowing money from Countrywide Home Loans, Larry and Cheryle Jesinoski sent Countrywide and Bank of America Home Loans a letter notifying them that they intended to rescind the transaction because the lender had violated the Truth in Lending Act (TILA).  The Jesinoskis, who refinanced their home mortgage with Countrywide in 2007, stated that they hadn’t received copies of two disclosure forms required under federal law.  Bank of America, which had acquired Countrywide, re...
  • Homeowners with Short Sales in 2014 can Breathe a Sigh of Relief

    Due to expire in 2014, the Mortgage Debt Forgiveness Act of 2007 (MDFA) was extended by recent votes in Congress. Typically, if you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable; however, the MDFA generally allows the exclusion of income realized as a result of modification of the terms of a mortgage, or foreclosure on your principal residence. The provision applies to qualifying debts of up to $2 million forgiven in calendar years 2007 th...
    By on Jan 05 · Category Uncategorized · · Continue reading →

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