In 2007, the number of reverse mortgages peaked at approximately 115,000. By 2012, the number fell to 51,000. At the same time, the rate of default on reverse mortgages rose to approximately 9.4 percent of loans in 2012, up from 2 percent a decade earlier, according to the Consumer Financial Protection Bureau. There is no data on how many heirs are facing foreclosure because of reverse mortgages but that is a growing problem for children of parents who took out a reverse mortgage....read more
For the second year in a row, Stewart Melvin & Frost was the overall winner in the local Georgia Legal Food Frenzy competition which raises money and collects food for the state’s regional food banks....read more
In reading or hearing stories about court juries delivering big dollar verdicts in civil lawsuits, we often get a distorted, negative view of punitive damages. Are there any restrictions to what a jury can award? And where do you draw the line between simply reimbursing an accident victim for their medical expenses and punishing the defendant who caused the accident?...read more
There are benefits of doing your own legwork prior to seeing a lawyer.
There are things the client can do on their own before the initial meeting that will help their attorney, save them money and speed up the process....read more
In real estate business and law, a title search or property title search is the process of retrieving documents evidencing events in the history of a piece of real property, to determine relevant interests in and regulations concerning that property. Property title records are kept in a county government’s deed room and it is open to the public not just realtors or real estate attorneys.
Stewart Melvin & Frost attorneys Rustin Smith and Ronny Hulsey will be discussing the role of attorneys as small business advisors as part of a series of seminars conducted by the Greater Hall Chamber of Commerce....read more
A common issue between unmarried, divorcing or separated parents is the cost of child support. No matter what the calculation method, many parents find themselves in a situation where they must pay more than they think they can afford for child support to the other parent....read more
ith the New Year comes new protection for consumers seeking mortgages. On Jan. 10, the Consumer Financial Protection Bureau began requiring lenders to make sure borrowers can afford to repay loans based on their income, debt and credit history....read more
Collecting debt is uncomfortable reality for small businesses and individuals. Small business owners can have customers who are several months past due on a bill. Sometimes individuals loan money to others and have trouble securing repayment. Either way, it’s your money and you want to be repaid. There are steps to take before enlisting an attorney’s help.
With the housing market picking back up in Georgia, many consumers are going through the mortgage closing process on their first or new home. With such a significant investment and financial decision, it’s important to understand what the many different costs actually represent.
Most people know that they should have a will, but put off creating one. It’s natural to put off things you don’t want to deal with. A recent study shows that what we think about having a will does not connect with actually having one. While 60 percent of those surveyed said they believe all adults should have a will, only 44 percent said they have one. What people don’t realize is how difficult we make for our family if we pass away without a will....read more
A study released by the CDC claims that nearly one in four births is the child of an unmarried couple. That number has nearly doubled since 2002, and tripled since 1985. In many cases, the unmarried couple does not remain together, and a young man can be left wondering what his rights to his child are. Unfortunately for the male, the answer is all too often “none.”...read more
During the past several years of the economic recession, many desperate homeowners turned to what is known as a “reverse mortgage” to draw emergency cash out of their homes. Now, in an effort to reshape the reverse mortgage program back to its original purpose, the federal government has announced new restrictions....read more
Stewart Melvin & Frost attorney Steve Cornelison recently discussed the impact of the new Healthcare Reform law on employers – both small and large. In part II of the Q&A, we will shift our focus to individuals and address some of the most common questions on this....read more
After all the debate and political jockeying, the health care reform law – also known as the Affordable Care Act and Obamacare – will roll out in just a few months beginning on
January 1st, 2014.
Some aspects of the health reform law have already occurred. Open enrollment for the special health insurance exchanges, or marketplaces, provided by the government will begin this October, while individuals who do not have health insurance coverage will be required to obtain coverage by the end of this year.