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Mortgage Deliquencies Remain High in New Jersey

September 26, 2013 By

Even though there is an improving nationwide real estate market, mortgage delinquencies and foreclosures continue to be a problem in New Jersey. The national mortgage delinquency rate – defined as borrowers who are at least 60 days past due on their payments – shrank by 26% in the Second Quarter of 2013, when compared to the same period one year ago, according to TransUnion, the credit information service. The delinquency rate in August, 2013 was approximately 4.1%, still double what it was in the pre-recession period, but it is still on a downward trend.

Locally, however, things are not so good. While Florida and Nevada have the highest delinquency rates (9.9% and 8%, respectively), New Jersey is right behind them, at 7.2%.

In New Jersey, there were 4455 mortgage foreclosure lawsuits filed in July, and 4222 foreclosure lawsuits filed in August, 2013, a dramatic rise from 2012 and early 2013. In New Jersey, the nation’s biggest lenders have recently filed motion papers that are paving the way and allowing a greater number of foreclosure lawsuits to be filed. In New Jersey, it is expected that the number of foreclosure lawsuits will continue to increase through the end of 2013.

Contact Shaffer & Gaier

To set up a free initial consultation, contact our office online or call our foreclosure hotline at 855-289-1660. Or call our office location in Philadelphia at 215-751-0100, or in New Jersey at 856-429-0970.

Filed Under: Foreclosure, Foreclosure Defense Tagged With: , , , , ,

Mortgage Foreclosure Defense Authority Presents Educational Program to Voorhees Homeowners

September 9, 2013 By

shaffer-gaier-library-speaker

Filed Under: Current Events, Foreclosure, Foreclosure Defense, Speaking Engagements - Luncheons - Seminars Tagged With: , , , , ,

Defending the Mortgage Foreclosure Action – Current Trends and Cases

September 6, 2013 By

Defending the Mortgage Foreclosure Action – Seminar and Luncheon

Featuring Speaker Michael Gaier

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Click HERE for additional information, and to sign up to attend!

Filed Under: Current Events, Foreclosure, Foreclosure Defense, Mortgage Lending, Mortgage Modification, Speaking Engagements - Luncheons - Seminars Tagged With: , , , , ,

10 Mistakes Drivers Make After a Car Accident

August 29, 2013 By

The best time to plan how to respond after a car accident is ahead of time, when you are calm. In the immediate aftermath of an accident, you will be rattled and may have difficulty recalling the best steps to take to protect your legal rights. The following are 10 common mistakes drivers make – both immediately after a car accident and during the process of filing an accident claim with their car insurance companies.

  1. Refusing medical help at the scene of the accident
    The insurance company may later use your refusal as evidence that you were not injured as seriously as you later claim to be.
  2. Apologizing to the other driver, admitting fault, or claiming the accident was not your fault
    This one is hard for many drivers.  It is human nature to want to explain, apologize or defend oneself.  Remember, though, it is the insurance company’s responsibility to determine who was and who was not liable.  Even a simple statement like, “I’m sorry,” can be used as evidence that you admitted responsibility for the accident.
  3. Failing to file a police report
    A complete and accurate police report is a very useful piece of information during claim processing.
  4. Failing to document property damage and injuries
    Injuries will be documented via your medical records, but don’t forget to take lots of photographs of your vehicle to document the damage.
  5. Missing the deadline to file a claim with your insurance company
    All insurance companies have deadlines within which claims must be filed unless you have a very good reason to have missed the deadline.  Call your insurance company to double-check its deadline.
  6. Filling out the car insurance claim form wrong
    Be specific and detailed when you fill out the car insurance claim forms.  If you later realize you made a mistake, file an amendment as soon as possible.
  7. Demanding too much or too little compensation
    An over-the-top claim for compensation will not be well received by your insurance company.  A claim that understates damage to the vehicle and injuries will result in a claim settlement that does not fairly compensate you for actual losses.
  8. Accepting settlement before you know full extent of injuries
    If you need continuing medical treatment as a result of injuries sustained in the car accident, do not accept a settlement that is labeled in any way a “full and final” settlement.
  9. Making a recorded statement with your insurance company
    Your insurance company may tell you it needs a recorded statement before it can issue a settlement offer. This is not true. You may refuse to make a recorded statement, or you may make a recorded statement and state emphatically that your statement includes “information that you remember at the time and may not be complete.”
  10. Believing that the insurance company’s goal is fairness
    The insurance company is just that, a company.  Its goal is to offer a settlement that pays as little as possible while seeming to be fair.

The driver’s manuals of New Jersey and Pennsylvania contain additional suggestions for actions to take after a car accident:

Contact Shaffer & Gaier After a Serious Car Accident

Do you believe you are being treated unfairly by your car insurance company after a serious car accident?  To set up a free initial consultation with knowledgeable personal injury attorneys, contact our office online, call our Philadelphia office location at 215-751-0100, or call our New Jersey office at 856-429-0970.

Filed Under: Auto Accident, Personal Injury Tagged With: , , , , , , ,

How Does the Recall Process Work for Food and Drugs?

August 26, 2013 By

There are three different ways food products, medical drugs, and medical devices can be recalled:

  1. At the initiative of the manufacturer of the defective food or drug
  2. At the request of the Food and Drug Administration (FDA)
  3. Upon order of the Food and Drug Administration (FDA), pursuant to its authority under federal law

The way in which a food or drug recall happens depends in part on what type of recall is at issue.  The FDA divides recalls into three different classes, based on the likelihood that the defect in the food product or drug will cause serious injury or death.

  • Class I recalls occur when there is a reasonable probability that the dangerous food or drug will cause serious illness or death.  An historic example of a Class I recall is the infamous Tylenol recall of 1982, when the company pulled 31 million bottles of Tylenol from retail shelves after learning that some unknown quantity of bottles had been deliberately contaminated with cyanide.
  • Class II recalls occur when use of the dangerous food or drug would cause temporary or medically reversible illness or when the chance of serious illness is remote.  An example of a Class II recall would be if a company pulled frozen dessert bar products because the labeling information failed to include required details about artificial coloring products.
  • Class III recalls occur when the food or drug defect is unlikely to cause any adverse health effects but still violates FDA manufacturing or labeling standards.  A common example of a Class III recall is when an imported food product is pulled from the shelves because it does not include ingredient information in English.

You can sign up to receive email alerts about food recalls or drug recalls from the FDA.

Contact Shaffer & Gaier After a Serious Accident

If you or a loved one has suffered injury due to a defective food product or pharmaceutical drug, Shaffer & Gaier can help.  To set up a free initial consultation, contact our office online, call our Philadelphia office location at 215-751-0100, or call our New Jersey office at 856-429-0970.

Filed Under: Consumer Litigation, Product Liability, Product Recalls Tagged With: , , , , , ,

‘Don’t Lose Your Home’ – Foreclosure Seminar Being Held September 4

August 20, 2013 By

Foreclosure Defense Seminar

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Contact Shaffer & Gaier

To set up a free initial consultation, contact our office online or call our foreclosure hotline at 855-289-1660. Or call our office location in Philadelphia at 215-751-0100, or in New Jersey at 856-429-0970.

Filed Under: Current Events, Foreclosure, Foreclosure Defense Tagged With: , , ,

Who Is Responsible After a Construction Site Accident?

August 19, 2013 By

It might seem obvious after a construction site accident – file a workers’ compensation claim and that’s it.  However, a workers’ compensation claim may not fully protect your legal right to full and fair compensation after a construction site accident.

Generally speaking, an injured worker is prohibited from filing any type of private lawsuit in addition to filing a workers’ compensation claim.  However, construction site accidents are one category of accident where that prohibition does not always hold true.

If an individual or a company other than the company that employs the injured worker was fully or partly responsible for causing the accident, then the injured worker may be able to file a private lawsuit against that person.  This legal concept is known as third-party liability.

Examples of construction site accidents in which the injured worker may have the right to file a third-party liability claim include:

  • Another subcontractor on the site fails to install proper safety and warning signs, leading to a serious trip and fall accident
  • Another subcontractor hires a worker without sufficient experience, and that worker injures another by performing sub-par work
  • A worker is seriously injured in a fall due to defective fall prevention safety equipment
  • One worker is assaulted by another worker who was hired without a basic background check, which would have revealed multiple felony convictions for violence at the workplace
  • A construction site worker is injured by a forklift driven by an operator without minimum training

If you are being asked to work on a construction site with known safety hazards, you may want to consider filing a safety complaint with the Occupational Safety and Health Administration (OSHA).

If, however, you have already been injured on a construction site, then it is highly advisable to seek advice from experienced personal injury lawyers.

Contact Shaffer & Gaier

To set up a free initial consultation with knowledgeable personal injury attorneys after a construction site accident, contact our office online, call our Philadelphia office location at 215-751-0100, or call our New Jersey office at 856-429-0970.

Filed Under: Construction Site Accidents, Personal Injury, Workers' Compensation, Workplace Injury Tagged With: , , , , , ,

Injured in a Car Accident While Working? It’s More Complicated Than You Think

August 12, 2013 By

On-the-job car accidents present unique legal issues.  What comes to mind as important actions to take following a car accident that happened while you were working?

  • Go to the doctor?  Absolutely.
  • Get receipts for your health care insurance company?  Yes.
  • Notify your private car insurance company?  Yes.

But did you consider the following:

  • Inform your employer you were hurt
  • File a workers’ compensation claim
  • Consult a personal injury attorney

Depending on the circumstances of the accident, you may need to file additional claims in order to achieve all the compensation you are entitled to.  You may have rights that are not covered by either your car insurance policy or workers’ compensation.  A knowledgeable personal injury attorney can explain all the benefits you may be entitled to and help you file necessary claims.

If the car accident was caused in whole or in part by an individual or company unassociated with your own employer, then workers’ compensation may not fully cover your lost wages and medical costs.  Your personal injury attorney can advocate on your behalf and file a private lawsuit, if necessary, to obtain additional compensation from the third party who was involved in the accident.

Another reason to retain a personal injury attorney in the event of a workplace car accident is that multiple insurance companies are likely to become involved after the accident.  You may need to file claims with more than one insurance company, and you may receive a demand for reimbursement from one insurance company – you could even be served with a lawsuit yourself, demanding reimbursement or charging you with causing the car accident.

Contact Shaffer & Gaier

To set up a free initial consultation with knowledgeable personal injury attorneys regarding a workplace car accident, contact our office online or call our Philadelphia office location at 215-751-0100, or our New Jersey office at 856-429-0970.

Filed Under: Auto Accident, Workers' Compensation, Workplace Injury Tagged With: , , , , , , ,

National Mortgage Settlement Review Prompts Dual – Tracking Discussions With Banks

August 7, 2013 By

State and federal regulators are considering whether or not to impose additional restrictions on the mortgage practices of five of the nation’s largest banks. State attorneys and the U.S. Department of Housing and Urban Development have already discussed with two big banks about further restrictions, and these discussions are the result of “complaints related to provisions in last year’s multi-state mortgage robo-signing settlement between dozens of government agencies and Bank of America, J.P. Morgan Chase, Wells Fargo, and Citigroup and Ally Financial”. This settlement has delivered tens of billions of dollars in mortgage aid, and while the companies have made strides in reforming servicing practices, much more improvement is still needed. The fact is, the relief is having no effect on keeping most distressed homeowners in their homes.

Officials claim that they are considering a change in the current policy — they want banks to “halt foreclosure proceedings when borrowers first apply for loan modifications and provide basic information”. With this halt, officials hope to speed decisions on loan modifications and limit the amount of fees imposed on distressed borrowers. While it is important for borrowers to get an answer on their loan, and whether the answer is “yes or no”, the borrower should feel relieved to escape the months-long limbo that often accompanies the request for a loan modification. One official has even said that “delays in processing mortgage modification requests are the number one problem in the servicing today”.

In the new policy, Joseph Smith, the head of the Office of Mortgage Settlement Oversight and his team hope to implement up to four new tests that would grade the banks’ compliance. Two of these tests would “test the effectiveness of banks’ implementation of a requirement to provide a ‘single point of contact’ for distressed borrowers looking to avert foreclosure” (Huffington Post, 1). The third test involves modification requests and the fourth grades how well the banks upgrade borrowers’ account information. It is a tall order, in our view, to get the big banks to get anything done quickly.

Contact Shaffer & Gaier

To set up a free initial consultation, contact our office online or call our foreclosure hotline at 855-289-1660. Or call our office location in Philadelphia at 215-751-0100, or in New Jersey at 856-429-0970.

Filed Under: Bank Loan Modifications, Current Events, Foreclosure, Foreclosure Defense, Mortgage Lending, Mortgage Modification Tagged With: , , , , , , , , ,

Foreclosure Fraud Against Deutsche Bank Yields $30,000

July 29, 2013 By

Shaffer & Gaier’s client agreed to a $30,000 cash settlement with Deutsche Bank in an action filed by the banking giant to foreclose on his New Jersey investment property. When purchased in 2006, the property was worth approximately $110,000, but at the time of the trial the value had fallen to $65,000. Shaffer & Gaier’s review of the loan documents uncovered fraud committed by the Lender in the underwriting process.

After Deutsche Bank filed its foreclosure action, Shaffer & Gaier filed a counterclaim based on fraud and misrepresentation (the lender grossly inflated our client’s federal tax return income when qualifying him for the loan and failed to disclose that to the client). During pretrial discovery and trial preparation, Shaffer & Gaier proved that the bank’s assignment documents (which give the Lender the right to bring the foreclosure lawsuit) were defective and therefore it did not have the right to foreclose.

Along with the counterclaim, this allowed the client to successfully settle the claim on the third day of trial. As part of the terms of the settlement, our client was entitled to retain the property and collect the rental income for an expected period of 18 months, free of mortgage payment obligations.

Filed Under: Foreclosure, Foreclosure Defense Tagged With: , , , , ,
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