Imagine for a moment that you have in your possession a source of complete and total power. You alone can command the warmth of the sun, the fall of the rain, the turn of the tides and the direction of the winds.
What would you do with this kind of power? Would you abuse it causing the world to fall into utter chaos? Would you be benevolent and merciful, using your power to help the people of your planet achieve their ultimate potential?
Unfortunately (or fortunately, as the case may be) there is no way for a person to have that much power. Mother Nature controls the planetary systems according to her own rules and her own designs. You will never be able to have utter control over the environment you are inhabiting.
What if you could, however, have the power to determine the course of your own life? What if you could accomplish great things and acquire great riches just by using the power of your own mind? What if I told you that this does not have to be a “What if”. What if I told you that you possess in your psyche the power to chart the course of the rest of your life on whatever path you see fit?
Chances are you might think that I had been watching too much Sci-Fi and needed to get out of the house more often, not to mention my obvious need to expand my vocabulary, considering the number of times I have used what if? in this conversation. You would be wrong (about the Sci-Fi, anyway). Every person holds in their mind the power to shape the events of their life to achieve whatever end they see fit. This power is what is known as the law of attraction.
The belief held by many theorists is that the universe is governed by a set of universal laws; these cannot be changed, cannot be broken and apply to every individual, regardless of age or nationality. These rules are the riverbanks which guide the flow of their lives on its journey to its ultimate end.
The law of attraction is one such law; it is the belief that anyone can determine their destiny through the power of their minds.
“The Law of Attraction attracts to you everything you need, according to the nature of your thoughts. Your environment and financial condition are the perfect reflection of your habitual thinking.” Joseph Murphy
Before we go too deep into the modern applications of the law it is important that you understand that this is not simply New Age nonsense (most descriptions of the law of attraction refer to it as a product of a New Age Mentality). The principles of the law of attraction date back far beyond the new found popularity of the New Age.
The immortal Buddha was actually one of the first to introduce man to the law of attraction. He said,”What you have become is what you have thought”. This was a principle that the people of the east were acquainted with for centuries before it began to sweep into the western hemisphere.
The concept of karma also may have drawn its roots from the law of attraction. Karma states that you will eventually be revisited by that which you have sent out into the universe. If you have practiced kindness and compassion you will receive in kind. If you have been deliberately cruel to another you will receive back into your life that cruelty which you have sent out. Your actions and thoughts morph into physical entities, causing the universe to react in kind.
The law began to gain popularity in the western hemisphere in the 19th century, as people began to appreciate the power of positive thinking and apply it to their life. This new concept was first introduced to the general public by William Walker Atkinson, the editor of New Thought magazine, who published a book called Thought Vibration or the Law of Attraction in the Thought World in 1906.
As you can see, the law of attraction is not new. The concept that thought can have a predominate affect on the course of a man’s destiny has been taught by wise men throughout the ages, and has given rise to a whole new era of beliefs.
Other than the work responsibilities, the business including corporate and commercial sectors deal with different complex agreements, arrangements, contracts etc. Guidance is a must for a smooth and profitable running of business and legal services. This is the place where a professional corporate and commercial lawyers play a crucial role.
Leading law firms that come with experienced corporate and commercial lawyers are known to serve different participants of the business world, like the entrepreneurs, enterprises, businessmen, corporations, business organizations and various companies. The experts deal with different matters of their clients by taking into accounts the intense competitive business practices and trends.
Through this article, we will come to know more about the corporate and commercial law practices and lawyers in detail. Please go through the points discussed below.
Every national or international business is required to follow some strict regulatory rules and regulations. A breach of such rules can result in corporate probation or may be any kind of ignominious legal actions. Professional corporate lawyers believe that these rules and regulations are essential to follow for maintaining the profitability, goodwill and popularity of any company or corporation. This is why they serve clients with corporate compliance legal services to different sectors of the economy.
Law Practice Areas
If we talk about the law practice areas, the experienced lawyers working in a law firm offer legal assistance for different commercial issues, like advices for the formation of any company, services for varied commercial and corporate contracts etc.
More about the law practices; the attorneys also serve individuals looking for legal assistance related to intellectual property matters, capital market, insurance matters, public relations, industrial relations, human resource management etc.
Research Aspects of Corporate Law
Like a personal injury lawyer and other kinds of professional attorneys, a corporate lawyer also opt for researching different aspects of law including accounting, securities law, bankruptcy, tax law, intellectual property rights and other regulations concerning business specifics. The lawyers always keep one thing in mind that a transaction is not conflicted with different kinds of law including federal, local or state laws.
As compared to other kinds of trial law, the corporate law is found as team-oriented. Rather than behaving as strict competitors in the court, they work on common goals that can help clients of both. They make use of their incisive mind and skills to make things clear between the parties, both in terms of written and oral form of communication.
Thus, from the above discussions, it can be said that corporate and commercial law practice areas and lawyers come with different aspects as compared to other trial laws and lawyers.
The family law is said to be a uniform law that covers all aspects and issues that may have risen through blood line including marriages and divorce. It was from 1970s that family law started evolving at good speed. Before that, this law was based on European Feudalism. Before 20th century, it was a law that after marriage husband would be the owner for wife’s all properties. In 1900s, there were major changes where there were judicial divorces rather than legislative ones. But after 1970s there were major subjects that came under this law and that was going to be there for longer period. It was by end of 1987 that there were no fault divorces being recognized. All states adopted this and divorce process was made much easier. There were some of the professional and traditional advocates who used to oppose this, as they thought new modes of divorces led couples to easily resort their marriages. They thought that as there were easier options in front of them, the couple did not give each other a chance to solve their personal issues without undergoing divorce process.
Child custody is yet another case that comes under family law. It started from onset of 20th century when law started changing to allow male custody and then it further lead to have joint custody. This law involves all matters that are related to status of family and the reputation of family too. Similarly there are other kinds of family laws that involve marriages, civil unions etc. A family law attorney tends to be a great help when you are fighting against any kind of family law. Each of the state has its own kind of laws that protects the demands of normal human beings. These type cases are some kinds of cases that need emotional handling and they needs to be dealt with very sensitively. It might need some kind of mediator or a good attorney who can actively get you out of this law related issues. When you look in to family law, you must make yourself sure with reasonable answering with any kind of question that may have been asked by you. Sometimes, it is better to let emotions guide your feelings. So you must let yourself do this.
If you are facing foreclosure or have received communication from your lender which is regarding your late payment , or are increasingly concerned that your loan may have been excessively priced or be subject to predatory lending practices – you should consider finding a good attorney and look at your loan documents/ communications in light of the various laws protecting home owners / debtors who have been a sold a loan where disclosures were not made properly or where laws governing the selling and communication process have not been followed properly.
What is a Predatory Loan ?
Although there is no universal or clear-cut definition of a predatory loan, experts agree that it is the result of misleading and coercive tactics deliberately bought upon unsuspecting homeowners (typically on a home equity loan or mortgage refinance) where excessive interest and costs are assessed and/or the loan is made without regard to the homeowner’s true ability to repay, which is a state violation (C.R.S. §38-40-105) and federal violation (HOEPA) and/or certain disclosures are avoided or not made properly which should have been.!!!
Some of the laws which are constituted for your protection are:
Truth in Lending Act (TILA)
The purpose of the Truth In Lending Act is to require a meaningful disclosure of credit terms so that the borrower will be able to compare the terms of different loans available to him and to protect the consumer against unfair lending practices.
If you can prove to the court that the documents provided by the lender don’t meet the requirements set forth by law, you may be able to have the entire foreclosure procedure rendered null and void. Furthermore, the foreclosure judgment could be withdrawn (even after the redemption period has expired) if you can prove that the lender didn’t make a reasonably sufficient effort to contact you or that some other error occurred during the process. But even if you find that the lender made no mistakes and you have no defense, you should still take the opportunity to answer each point of the lender’s contention with explanations that you think the court should consider.
Not only can TILA be used to immediately stop the foreclosure process (if you currently are in foreclosure), but it also lets you avoid bankruptcy. Once TILA and/or RESPA violations are discovered in your loan documents, your lender will be eager to discontinue the unlawful foreclosure process and settle the dispute. As an homeowner, you have a right to rescind your loan up to three business days after the transaction and an extended right to rescind the loan for up to three years (hence you can cancel your loan up to three years later) if you’re not given a notice of the right to cancel the loan, OR if you did not receive notice with all of the required material disclosures. TILA also requires lenders to disclose the terms of loans in an understandable manner – though this point is somewhat subjective it is definitively arguable. The “National Consumer Law Center’s Truth in Lending” manual provides detailed information on how this law can be used to Challenge predatory lending.
Real Estate Settlement Procedures Act (RESPA)
RESPA was designed to give home buyers and sellers better disclosure of settlement costs; and to elimination of kickbacks or referral fees that tend to increase unnecessarily the costs of certain settlement services. RESPA generally covers loans secured with a mortgage placed on one – to – four family residential properties. These include most purchase loans, refinances, assumptions, equity lines of credit and property improvement loans. RESPA also requires that written disclosure of estimated settlement costs be provided to the borrower. The Good Faith Estimate is the form that itemizes these costs at the beginning of the application process. HUD’s HUD-1 or -1A Settlement Statement itemizes these costs exactly at loan closing. The fees can vary based on changes in the loan that may occur between the time of origination and closing.
RESPA mandates that borrowers receive disclosure documents at various times during the loan process. At the time of application, or within three days afterward, the lender must provide the borrower with the Good Faith Estimate; HUD’s Settlement Cost Guide, which describes the home buying process; and a Mortgage Servicing Disclosure Statement, which tells the borrower whether the lender intends to service the loan or sell it to another party. These are very important and specific documents / statements which must be provided and you should check if you have received these. Then there are also disclosures required before closing of loan in case you are being referred to a settlement provider. RESPA requires the referring party to provide you with an Affiliated Business Arrangement Disclosure. This form will remind you that you are generally not required, with some exceptions, to use the affiliate and are free to look for another provider. Finally, at the time of settlement also disclosures are required which includes Annual Escrow Statements.
State Unfair and Deceptive Acts and Practices Laws (UDAP)
Some of the unfair practices and loan terms found in predatory mortgage loans can be challenged under state unfair and deceptive acts and practices (UDAP) laws. If a state’s UDAP statute covers the type of transaction or the creditor involved, advocates may bring claims for practices such as repeated and unnecessary refinancing (“flipping”) of loans, making unaffordable loans to consumers to acquire the equity in the property, or misrepresenting the loan terms. Excessive fees and costs, and other terms that are disadvantageous to the borrower may be challenged as well.
Home Ownership and Equity Protection Act (HOEPA)
The Home Ownership and Equity Protection Act, is an amendment to TILA. This section of law covers certain high rate home equity loans. In addition to notice of the right to cancel and other disclosures required by TILA, if a loan is covered under HOEPA, lenders must provide borrowers with additional disclosures of the “annual percentage rate” (APR) and monthly payment three days prior to closing. These disclosures must also include provisions telling the borrower that they are not required to sign the loan agreement simply because they received the disclosure statements, and they may lose their home if they do not meet their obligations under the terms of the loan. In addition to the disclosure requirements, HOEPA prohibits the inclusion of certain terms in the loan contract. A loan covered under HOEPA may not include the following:
Terms which increase the interest rate in the event of default. If you fall behind on your mortgage payment, they cannot increase the interest rate.
Balloon payments prior to ten years. The lender cannot put a stipulation in your loan that requires the total amount of your loan to be paid off in the first ten years or even a payment that is much larger than your regular monthly payment.
Negative amortization. If the amount of your monthly payment is not enough to cover the interest payment on your loan, the “shortage” is added to your loan balance. This type of loan violates federal law.
Prepaid payments not allowed. At closing, the lender cannot roll any payments into your loan. This would result in additional interest charged on interest itself, which is prohibited by state and federal usury laws.
Extending credit to individuals without regard to their ability to repay the loan. This is a big one folks! A lender cannot put you in a loan based on fictitious income information that was grossly exaggerated in order to make it appear that you qualified for the loan.
Disbursement of funds payable solely to a home improvement contractor. On a home improvement loan, the lender cannot pay the contractor directly. The check must be made solely to the homeowner or made to the homeowner and the contractor together.
If you are facing foreclosure and your loan is less than three years old, you are still protected under federal law! Violations of HOEPA’s disclosure provisions and inclusion of prohibited contract terms will make your lender liable to you for actual damages, statutory damages and attorney fees and costs. HOEPA violations are also subject to TILA’s extended right to rescind.
How will Legal professionals Use these laws
If you have employed legal professionals to deal with your foreclosure, these attorney/lawyers would scrutinize or audit the mortgage documents you received upon the closing of your loan(s) and look for TILA, RESPA and/or HOEPA violations by your lender. Nearly every loan has at least some violations. They may then file a Federal lawsuit on your behalf, and place a Lis Pendens on the property to stop foreclosure (if applicable) and begin litigating your causes of action against the lender(s).
They reach a settlement agreement with the lender (most cases) or continue on to trial in rare circumstances.
It is NOT necessary for you to make mortgage payments while the lawsuit is pending.
It is also unlawful for the lender to report negative information about you to the Credit Reporting Agencies while the lawsuit is pending under the Fair Credit Reporting Act.
Additionally, in the state of Florida, for almost all mortgages, foreclosure laws give you or your defense attorney the right of “reinstatement.” This means that, if at any time during the foreclosure litigation process the borrower comes up with the money for the late payments or can make a deal with the bank to cure the arrearages or late payments, legally the bank must dismiss the foreclosure action.