| Volume 59 Number 5 |
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The People’s Lawyer’s Tip of the Day
A landlord has an obligation to change the locks on your doors whenever you request it. You may be charged the cost of making the change, but no additional fees. Click here for more.
30% of Homeowners Owe More Than Home is Worth
The foreclosure crisis is still going strong. Although experts expect foreclosures to ease, it probably won't be anytime soon. Foreclosures, however, aren't the only problem. Home continue to lose value. In the last three months of 2010, home prices dropped nearly 3% nationwide. As a result of the continued decline, many homeowners owe more for their homes than they're worth. In fact, a recent survey indicated 27% of homeowners are underwater, up from 23% just a quarter earlier. As foreclosure rates increase, more homes are dumped in to an already saturated market, causing prices to dip even further. When will home values turn the corner? Click here for more.
FDA Approves MRI App for Mobile Devices
The Food and Drug Administration has approved the use of an application that will allow doctors to view medical images on their iPhones and iPads. The software compresses and transfers the radiology images through a secure network to the wireless devices. The software will allow radiologists to view and diagnose medical conditions without waiting at the workstation. To view the results of the FDA performance tests, Click here for more.
PayPal Fighting Off Google & Apple
Most big technology companies are investing in online-payment systems. Apple and Google are developing products that use near-field communications, a technology that allows a consumer to pay by simply "waving" a phone over a payment module. EBay is going a different route. Planning for a day when online payment becomes its biggest source of revenue, EBay is developing mobile versions of its PayPal and BillMeLater services. Unlike the Apple and Google products, the PayPal service will require a mobile application. Why is PayPal (eBay) having to ward off threats from Apple and Google? Click here for more.
Your Money
How long should you keep your vehicle? Click here for more.
For the Lawyers
United States Supreme Court holds that Truth in Lending Act regulation does not require a bank to notify a credit card holder in advance that finance charges would be increased to a pre-set contractual rate. The Court noted “This case presents the question whether Regulation Z requires an issuer to notify a cardholder of an interest-rate increase instituted pursuant to a provision of the cardholder agreement giving the issuer discretion to increase the rate, up to a stated maximum, in the event of the cardholder's delinquency or default. We conclude that the version of Regulation Z applicable in this case does not require such notice.” Click here for more.