Law Office of Angela Barker, LLC
In This Issue:

Making a Child, Minus the Couple

Mortgage Catch Pushes Widows into Foreclosure

A step toward compassionate end-of-life care?

Life in Our New Economy

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Mortgage Catch Pushes Widows Into  Foreclosure  

There is a foreclosure crisis among a growing group of homeowners--widows over 50 years of age whose husbands were the sole holders of the mortgage. Already burdened with pension cuts and vastly increasing medical costs and possibly thousands of dollars of medical debt if their spouses underwent prolonged illnesses, they are facing the loss of their homes.  AARP figures show the rate of foreclosures increased by 23 percent from 2007 to 2011.

 

A paperwork flaw prevents these widows from obtaining loan modifications.  To stay in the home, the surviving spouse needs to take over the mortgage, and most banks require that the person assuming the mortgage be up to date in payments. 

 

Some lenders have altered their procedures to deal with this issue and banks say they are willing to work closely with widows who are behind on their payments.   However, there are still many complaints by homeowners about their calls going unanswered, and complaints about botched forms and being asked repeatedly for the same documents.  These problems have resulted  in a $26 billion settlement with the country's five largest mortgage servicers and the consumer bureau is creating rules tightening oversight of mortgage servicing companies.

  

Lawyers have been successful in dealing with these issues and obtaining loan modifications for their clients. Housing advocates have won reprieves for some homeowners and say that most of their widowed clients remain in their foreclosed homes. 

If you are facing foreclosure please contact us to assist you in this process.  

 

For more information please see: Mortgage Catch Pushes Widows Into Foreclosure
By:  Jessica Silver-Greenberg
"The New York Times"



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A Family Law, Wills & Trusts and Real Estate Newsletter
March 2013
Greetings!  

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Happy Spring!! Thank you for taking the time to visit my website and reading this newsletter.  Life is a series of transitions, and at the Law Office of Angela Barker, LLC, we are committed to helping ease the transition through the various life stages: whether it be a change in the family structure as a result of death, marriage, divorce, or separation. We are there for you as you buy or sell your home, and we assist our clients in planning for their loved ones' golden years and help them pass their assets on to the next generation. People are our business. For the benefit of our clients and the communities we serve, we have developed this newsletter as a legal and consumer resource. Enjoy!

 

Making a Child , Minus the Couple
Some couples are foregoing marriage and even romance and have decided to enter into a partnership whose sole goal is to co-parent and raise children.  This new trend has evolved from the recognized difficulties that come with raising children as a single parent in terms of emotional, financial and time pressures.  Some of these parents are entering into written co-parenting agreements that would govern the relationship vis-a-vis the co-parents and the co-parents and the children. 

Opinions of those involved in parenting arrangements and professionals in family advocacy and social science differ widely.  Among positive viewpoints are those that consider the arrangement to be entirely logical, that cite the "it-takes-a-village" concept of child rearing; those that view this arrangement as sparing children from suffering the harmful effects of divorce; and the view that co-partners strategize on their philosophy of child rearing, a level of forethought can only be beneficial to the child.
  
However, for those contemplating entering into such an arrangement, they must be cautioned that laws concerning parenting partnerships vary from state to state. Moreover, such agreements are not necessarily binding.  In every state, courts have final say over any agreement that concerns custody and visitation arrangements and regardless of what is written in an agreement, courts will base all decisions on what are in the best interests of the child.

For more information, please see the article:
Making a Child , Minus the Couple - Page 1
Making a Child, Romance Not Included - Page 16

"The New York Times" Sunday February 10, 2013
Article by: Abby Ellen

A Step Toward Compassionate End-Of-Life-Care?

A case at Trinatas Regional Medical Center in Elizabeth, New Jersey brought an end-of-life-care dilemma to a New Jersey appellate court. Judges were asked whether physicians should be compelled to sustain a dying person's life. In this case, the patient was in a vegetative state, could not breath on his own and had multiple organ failure. Five physicians agreed that there was no hope for improvement. Yet his family ordered that life-sustaining measures be continued indefinitely. The legal system was being asked to compel healthcare professionals and hospitals to continue treatment where it can do no good. Questions key to this issue are: How much care is right? When does technological intervention become inhuman? What is death with dignity?

 

Seeing that the questions raised will continue as the population ages and medical science continues to advance, all of us should meaningful conversations with our loved ones regarding our wishes involving end-of-life care.  Then we should memorialize those wishes in writing.  For more information on estate planning will contact us at the Law Office of Angela Barker.   

 

For more information please see the article: A step toward compassionate end-of-life-care?

By Patricia Codey and Elizabeth Ryan

"The Record" Saturday, May 29, 2010

Life in Our New Economy 

For the period 2008 - 2009, the values of all-equity portfolios were down 40 to 50 percent, and more balanced portfolios down approxiamately 25 percent, some down even more. With the economy still not on firm footing a recent USAA Investment Company article offers advice for navigating "some of the worst economic numbers and indicators of our lifetime."
  • First, examine and develop a realistic picture of your financial situation;
  • Second, develop a retirement plan;
  • Third, eliminate debt, beginning with credit card debt, then installment loans, home-equity loans and mortgage debt;
  • Fourth, have insurance coverage in place, life insurance, long-term care or an umbrella policy;

Depending on your particular situation, you may need the help of certified financial planners in helping you meet these goals.  Moreover, every adult should have a will, power-of-attorney and advanced health directives.  Please contact us to find out more infomation about these essential documents.

 

For more infomation please see:

Life In Our New Economy

Josue (Joe) Robles, Jr.  

Spring 2009 - "USAA Magazine"