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So you made your life-changing decision to buy a house. Now it is the right time to take a step back and decide whether it is reasonable to make this kind of decision right now. Buying a home is a complex process that requires a big amount of time, money and patience.
Here are some questions that are absolutely necessary to be asked before the purchase:
Is My Credit Report Good Enough?
It is extremely important to check your credit report and score. The first thing lenders want to know is how much of your monthly income goes towards debt payments (debt-to-income ratio). This ratio is expressed in a percentage of your personal debt. Luckily, you have the possibility to check online your credit. According to the law, you’re allowed to receive one free copy of your credit report per year, by clicking here. Do not hesitate to check your report for mistakes, because even the small ones can cause rejection. Continue reading →
We all know the saying “your home is your castle” and it is extremely important to know for certain, that it stays safe from life’s unexpected threats. In order to secure it from any kind of financial harm, you may consider buying a Homeowner’s Insurance (also known as Hazard Insurance). From one side, you have to be sure that your house is absolutely protected because life is full of unexpected hazards, but on the other side, this industry has changed a lot, so insurers hiked deductibles, scaled back on coverage, and added new restrictions. Few homeowners take the time to read their policy and, even if they do, may not realize how one phrase, sometimes one word,can mean thousands of dollars. Continue reading →
The property discussion might be very tricky sometimes. Does your neighbor use the roadway that passes your private property? Does a local utility company have the right to access a pipe buried in your yard? One day you may wake up and find out that you have to share a part of your possessions. Here are several things that you should know about easements.
An easement is a legal, non-possessory right to use or/and enter someone’s land for a particular purpose. It means a lesser interest in someone’s property, a legal arrangement by the landowner and a no owner in some way. There exist plenty of varieties of this type of property right (i.e. easement for ingress and egress over someone’s property, ross-access or reciprocal easement and maintenance agreement, conservation easement, construction easement, condominium/town-home declarations, etc.) Continue reading →
For law firms, protecting the confidential data of clients any unintended leak of information related to intellectual property or a prominent legal case can be disastrous.
Many lawyers are often asked to safeguard sensitive information, but their ability to do so can be undermined by weak cyber security and determined hackers. If firm’s security is breached, cyber insurance may help protect against subsequent losses.
Key Marsh 2014 Cyber Survey Findings:
79% of respondents in aggregate viewed cyber/privacy security as one of their top 10 risks in their overall risk strategy.
72% said their firm has not assessed and scaled the cost of a data breach based on the information it retains.
51% said that their law firms either have not taken measures to insure their cyber risk (41%) or do not know (10%) if their firm has taken measures.
62% have not calculated the effective revenue lost or extra expenses incurred following a cyber-attack.