| Volume 44 Number 9 |
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The People’s Lawyer’s Tip of the Day
Always use a credit card when shopping online or by mail. Federal law allows you to refuse to pay the credit card bill if the goods are never delivered. Click here for more.
8 Major Retailers Likely to Downsize
The heart of the recession saw the demise of several major stores, including Circuit City and KB Toys. Although economists predict the worst of the recession is behind us, some are predicting more changes in retail. From Barnes & Noble to Stein Mart, find out which stores are downsizing and which are closing. Click here for more.
Foreclosure-Prevention Program Hits Snag
President Obama's foreclosure-prevention program is in trouble. The trial program has allowed hundreds of thousands of consumers to make lower, more affordable mortgage payments. Ultimately, consumers hope to qualify for a permanent adjustment to their mortgages. Documentation issues, however, may put 450,000 consumers at risk of falling out of the program. Companies that service the mortgages have until Jan. 31 to review all trial modifications, including consumer payments and paperwork. What can consumers expect next? Click here for more.
The Census is Hiring
Do you need a job? The Census Bureau has an employee shortfall and must fill the temporary positions in the next few weeks. Consumer reporter Jeff Ehling explains how you can make $12 to $20 an hour and stay in your own zip code. Click here for more.
Your Money
Will you save by refinancing your mortgage? Click here for more.
For the Lawyers
Fees charged by home equity lender are not interest. A Texas court of appeals held that the fee cap provision in §50(a)(6)(E) of article 16 of the Texas Constitution creates a three-percent cap on fees other than interest in the context of a home equity loan. An interpretation that classifies fees charged by the lender as interest essentially renders this cap meaningless. The court held that “the Commissions' interpretation of "application" to include oral applications is consistent with the plain language of the constitution as it is currently written.” Click here for more.