| Volume 107 Number 3 |
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1-713-743-2168
The People’s Lawyer’s Tip of the Day
Lately, more and more companies are reporting data has been stolen. Although most cases do not result in identity theft, you should still protect yourself by checking your credit report for suspicious behavior. You can check your report at each of the three agencies once a year for free. Check one every four months.
To find out more,
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7 Factors that Determine Your Mortgage
If you're one of the many people looking to take advantage of historically low interest rates to buy a home, you may be interested to know what factors could qualify you for those rates.
The Consumer Financial Protection Bureau has compiled a list of 7 factors that determine your mortgage interest rate.
The top factor? Your credit score. Simply put, your credit score indicates whether you're a reliable debtor when it comes to paying off loans. The higher it is, the better shot you have of getting a good mortgage interest rate.
Other factors include the home location, the price, the down payment, the term of the loan, and the type of loan.
For a more in-depth analysis of what goes into determining your mortgage interest rate,
Click here for more.
The Three Day Right to Cancel
Contrary to popular belief, consumers in Texas do not have a three day right to cancel most transactions. In fact, a three day right to cancel only applies to "door-to-door" sales or transactions that take place other than the merchants place of business (like a consumers home or a place rented on a temporary basis).
Even then, there are many situations where the three day right to cancel still does not apply. For example, if it involves the sale of insurance or farm equipment, a sale where an attorney assists in the transaction, or sales made as a result of prior negotiations.
For a complete breakdown on the real three day right to cancel,
Click here for more.
Your Money
Estimate your 2014 tax refund!
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For the Lawyers
Guarantor is not an applicant under Equal Credit Opportunity Act.
The Eighth Circuit held that wives who executed guaranties of loans to a limited liability corporation company in which their husbands had an interest were not protected by the ECOA. In so holding, the court refused to follow a federal reserve Board interpretation that held the term “applicant” included a guarantor.
Click here for more.