| Volume 101 Number 4 |
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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.
For more general information about the law, check out my website.
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Why Now is the Time to Buy a New Home
You've certainly heard it by now - It's a great time to buy a house.
But why?
The historical average interest rate for financing a home is 8.52%. For a 30-year loan at the historical rate on a $250,000 home with 20% down, you'll pay $604,760 by the time you've paid it off.
However, following the same parameters with the current fixed rate of 4.13%, you'll pay just $399,200 for the same $250,000 home.
It's important to note that these historically low rates won't last forever. As the Federal Reserves eases support for the economy, long-term interest rates (mortgage rates) will trend higher. To a certain degree, it's already happening. Last year, the Federal Reserve Chairman intimated that the bank would ease support for the economy. That was enough to spike interest rates from 3.5% to 4.5%. Using the same example above, the 1% interest rate jump accounted for an additional $41,400 in total home cost.
Are you thinking about buying a home? Find out why this may be the year to make the move.
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Congress Could Legalize Medical Marijuana
Twenty-three states and the District of Columbia allow some form of medical marijuana treatment for a variety of conditions. But, the fact remains - it is a Schedule I controlled substance. That means, under federal law, the drug has a "high potential for abuse" and has "no currently accepted medical use." Simply, it is illegal to use or grow marijuana for any purpose.
Called Charlotte's Web Medical Hemp Act of 2014, the bill would allow the medical use of cannabis strains containing less than 0.3% THC. The bill is named after a Colorado girl who suffered seizures that were controlled by the use of cannabis oil.
She isn't alone. Haleigh Cox was given three months to live due to the number and severity of seizures she experienced. Her mother took her to Colorado to begin cannabis treatment. In less than three months, her seizures were down considerably and doctors were able to wean her off toxic medications that were destroying her liver. Haleigh had never been able to walk or talk, but after treatment she said "Mama" for the first time and can now walk.
The bills sponsor, Republican Representative Scott Perry said, "No one should face a choice of having their child suffer or moving to Colorado and splitting up their family. We live in America, and if there's something that would make my child better, and they can't get it because of the government, that's not right."
However, just because there are some anecdotal stories doesn't mean the bill will run through congress with ease. There remains significant debate over federal marijuana laws, and because of federal restrictions on the drug, solid medical studies are hard to come by.
Will the federal government loosen marijuana restrictions?
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FDA Warns Consumers of Tattoo Infections
After a July recall of tattoo ink, the Food and Drug Administration (FDA) is warning consumers and tattoo artists that they could still be using contaminated ink. Testing found bacterial contamination of some unopened White and Blue Lion Inc. products. The FDA is aware of specific infections linked to the White and Blue tattoo inks and is concerned other brand inks may also be contaminated.
What can consumers do to minimize the risk of infection?
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Your Money
What are the tax advantages of an annuity?
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For the Lawyers
Class action claim not moot after named plaintiffs accepted compensation from defendant.
Cable subscribers filed a class suit after a cable company failed to provide credits for the time service was interrupted during a storm. Subsequent to filing the suit, the named plaintiffs accepted credits proportional to the amount of time they were without service.
The First Circuit held that the district court erred in granting Charter’s motion to dismiss based on mootness, as all four plaintiffs may still pursue their requests for declaratory relief regarding their dispute.
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