Marketing Homeowner Insurance To Senior Citizens

Nevada AG puts Bank of America on notice over foreclosures

Call it Nevada’s version of David versus Goliath.

As foreclosures continue and homeowners cry foul against lenders in their bids to stay in their homes, Nevada’s Attorney General Catherine Cortez Masto is taking on Bank of America in federal court. And the issue is going to heat up as Cortez Masto’s office investigates BofA and other parties in the foreclosure process. She says criminal charges are likely coming to the industry soon, which could provide more ammunition for her foreclosure fraud case.

Cortez Masto wants to revoke a 2009 settlement with BofA over loan abuses involving its Countrywide Financial Corp., saying the bank has violated its terms. She claims the banking giant has harmed homeowners by failing to modify their mortgages and maliciously deceived some by telling them their loans would be modified, then foreclosing on them. BofA denies the allegations.

Cortez Masto has long been viewed as a rising star in the party. She was criticized for politicizing her office after her charge that Lt. Gov. Brian Krolicki, a Republican, misallocated office funding for a marketing campaign in order to benefit himself was dismissed in District Court in 2009. Cortez Masto denied the move was politically motivated as alleged by Krolicki supporters.

Cortez Masto stopped by the VEGAS INC offices to discuss Assembly Bill 284, which she and Assembly Majority Leader Marcus Conklin, D-Las Vegas, pushed in the last session to protect homeowners and businesses from mortgage fraud.

The law, which takes effect October 1, requires documents used in the foreclosure process to be recorded with counties and specifies who can be a trustee on a deed of trust along with a trustee’s duties in the foreclosure process.

This is big stuff, but Masto says she’s up to the task. Hey, big bank: Bring it on.

What was the basis for this legislation?

The impetus for this legislation and previous legislation we worked on in 2007 and 2009 is based on complaints that came into my office as well as our investigations. In 2007, we had some great legislation that made mortgage fraud a crime, and it was important for my office to be able to go after and hold those people accountable who were violating the law and taking advantage of others. This new legislation makes foreclosure fraud a crime. We needed to protect the integrity of the process. It’s important because the criminal element is always evolving around the laws, and people are looking for loopholes. We have to be vigilant and make sure my office is working with the Legislature to protect the citizenry and business as well. This law is not just beneficial to the homeowners but it’s beneficial to the lenders and banks and good players in the process. That’s why this is so important.

LIFE ASSURANCE FOR THE OVER 50'S – Life insurance for senior ...

Many people find thinking about life insurances and especially about the worries of becoming old as daunting perspectives. It is understandable that they avoid thoughts about death, illness or incapacity, but at a second glance they might just be the thoughts giving them a chance to prevent their loved ones from financial hardships.

Particularly for those who are heads of their family, providing the resources for living, this insurance should stop being just a random possibility.

One does not have to be in his/her 50s in order to start planning. Younger ones can begin comparing and contrasting insurance policy offers . The most affordable and recommendable type of insurance, insurance advisers say, is the term insurance. Of course, one can also choose the permanent life insurance . Why is term insurance better? Firstly, let us mention that the premiums for a term insurance have a lower price compared to the premiums paid for a permanent insurance. Term insurance periods range from one year to decades, the most common being those of 5, 10, 15 and 20 years. The insurance company only pays the beneficiary in case the policy holder dies within the insured period of time. Otherwise, the insurance does not come into effect. The good news and what makes term insurances more practical is the fact that they can be renewed if they expire or converted to permanent ones. For a clearer view, one must be aware of the different types of term insurance: level term insurance, increasing term insurance, decreasing term insurance, convertible term insurance and renewable term insurance .

The first type, level term insurance , has the same payout throughout the period of the policy. It comes into effect at death and if it expires before it pays no value.

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