The lender may promise one type of loan or interest rate but, without good reason, gives you a different one. Sometimes a higher (and unaffordable) interest rate doesn’t kick in until months after you have begun to pay on your loan.

Balloon Mortgage

A mortgage with periodic installments of principal and interest that do not fully amortize the loan. The balance of the mortgage is due in a lump sum at a specified date, usually at the end of the term.

Equity Stripping

The lender encourages you to borrow heavily from the equity in your home (the amount you own free and clear of your mortgage) as an easy way to get additional money, consolidate debt or fund home repairs, knowing that the fees and payments are so high you may not be able to make them. You dramatically reduce your equity and, in the worst case, the lender forecloses on the loan, takes possession of your home, and strips you of the equity.

Good Faith Estimate (GFE)

A document which tells borrowers the approximate costs they will pay at or before settlement, based on common practice in the locality. Under requirements of the Real Estate Settlement Procedures Act (RESPA), the mortgage banker or mortgage broker, if any, must deliver or mail the GFE to the applicant within three business days after the application is received.

Home Improvement Scams

A contractor talks you into costly or unnecessary repairs, steers you to a high-cost mortgage lender to finance the job, and arranges for the loan proceeds to be sent directly to the contractor. All too often, the contractor performs shoddy or incomplete work, and the homeowner is stuck paying off a long-term loan where the house is at risk.

HUD-1 Uniform Settlement Statement

Standard form used to disclose costs at closing. All charges imposed in the transaction, including mortgage broker fees, must be disclosed separately.

Interest Rate

Percentage paid for the use of money, usually expressed as an annual percentage.

Loan Flip

The lender encourages you to get additional cash by refinancing your mortgage again and again. This tactic significantly increases your debt because fees (often exorbitant) are tacked on to each loan transaction, and you may pay a higher interest rate than with your original loan. You become saddled with higher payments, higher debt, and the risk of losing your home.

Lock-in

The process by which a lender commits to lend at a particular rate as long as the mortgage transaction closes within a specified time period. The document which specifies the terms of the lock-in is called a rate commitment or lock-in agreement.

Mortgage Life Insurance

Term life insurance paid by the borrower in which the amount of coverage decreases as the mortgage balance declines. In the event the borrower dies while the policy is in force, the debt is automatically satisfied by insurance proceeds.

Point

An amount equal to one percent of the principal amount of a mortgage. Loan discount points are a one-time charge assessed at closing by the lender to increase the yield on the mortgage loan to a competitive position with other types of investments.

Prepayment Penalty/Prepayment Premium

A charge the mortgagor pays the mortgagee for the privilege to prepay the loan.

Prime

See Subprime

Right of Rescission

Period of three full days after closing in which the consumer is allowed to negate an owner occupied refinance transaction.

Subprime

“Prime” and “Subprime” refers to the interest rate and terms of the loan based on the borrower’s credit history. Borrowers with the highest credit scores and cleanest payment histories present limited risk to the lender and are usually offered lower interest rates and placed in the “prime” market. Borrowers with lower credit scores as a result of events such as late payments, court judgments and bankruptcies present a higher risk to the lender; and, therefore, are offered higher interest rates and are placed in the “subprime” market. More information…

Truth-in-Lending Act (TILA)

Federal law which requires a truth in lending statement to be disclosed for consumer loans. This statement would include disclosure of the annual percentage rate, or APR, as well as other facets of the mortgage program. The law also requires the right of rescission period which follows the closings of refinances.

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“We are making progress in our efforts to ensure that all motorists are aware of the consequences they face if they choose to talk on a cell phone or text while driving,” Fischer said. “Our work is far from done, though. Any cell phone conversation while driving, whether hand-held or hands-free, is distracting and dangerous, and can result in crashes, injuries, and in some cases the loss of life. For the safety of all roadway users, we must hang up and just drive.”

According to the National Safety Council, each year at least 1.4 million crashes nationwide are caused by drivers talking on their cell phones, while a minimum of 200,000 crashes are caused by drivers texting behind the wheel. In New Jersey, since 2008, there have been 3,610 crashes involving a motorist using a hand-held cell phone, resulting in 1,548 injuries and 13 deaths. During the same time period, 3,129 crashes involving the use of a hands-free device resulted in 1,495 injuries and 6 fatalities.

“These numbers are staggering, but perhaps even more disturbing is the number of crashes involving cell phone use and texting that go unreported,” Fischer said. “We know that many drivers involved in a crash don’t admit to these behaviors, which means that the actual number of cell phone-related crashes in New Jersey is much greater.”

New Jersey’s primary cell phone law went into effect on March 1, 2008. Motorists violating New Jersey’s law face a $100 fine plus court costs and fees.

“The New Jersey Chiefs of Police are committed to enforcing our state’s laws that help to ensure the safety of the motoring public on our roadways. Distracted driving by the use of cell phones decreases traffic safety, and is a violation of New Jersey’s law. We encourage the motoring public to drive responsibly and respect the motor vehicle laws of our state,” added Robert A. Coulton, Ewing Police Chief and President of the New Jersey Chiefs of Police Association.

“New Jersey’s strict law has allowed us to make tremendous strides in getting drivers to put their cell phones down and focus on the task at hand,” said Motor Vehicle Commission Acting Chief Administrator Raymond P. Martinez. “However, phones are just one of the many distractions that put drivers at risk. When behind the wheel, your only concern should be the safe operation of the motor vehicle and the road ahead that you share with others.”

A Fairleigh Dickinson University PublicMind Poll on driving behaviors conducted last year and co-sponsored by the Division of Highway Traffic Safety, found that the number of New Jersey drivers who said they sent text messages while driving increased by 40 percent between 2008 and 2009.

In addition, 57 percent of those drivers under the age of 30 said that they have texted while driving, up six percent from 2008, while more than one in four drivers aged 30 to 44 said they have sent a text message, up eight percent from the previous year. Twelve percent of motorists between the ages of 45 and 60 said they have also sent text messages while driving.

“While the state’s motor vehicle fatality rate continued to fall for the third consecutive year, there are still far too many people engaging in unsafe driving behaviors, including talking and texting, that contribute to a dangerous and often tragic situation on our roads,” Director Fischer said. “If we’re to reach our goal of zero fatalities, every driver must take personal responsibility for his or her actions behind the wheel, and make a commitment to safety.”

To further inform motorists about the state’s cell phone/texting law, the Department of Transportation expects to have new signage in place on major roadways, including those that serve as major entry points into New Jersey, before the summer travel season. The signs will alert motorists that it’s illegal to talk on a hand-held cell phone in New Jersey. A reminder to buckle up, every ride, will also be included on the signage.

Cell phone use and texting is not only a critical traffic safety issue for drivers, but one that also impacts pedestrians.

“I have personally witnessed the potential danger a pedestrian can face when distracted by a phone conversation or text message,” Fischer added. “Several months ago, I literally pulled a pedestrian talking on a cell phone out of the path of an oncoming vehicle. The woman was talking on her cell phone, and didn’t check for traffic before stepping into the crosswalk. Regardless of your mode of transportation, you must be 100 percent engaged in what you’re doing or you’re putting yourself and everyone else on the road at risk.”

More information about Traffic Violations can be found at our website.

Contact Garces & Grabler online to get your Traffic Violation resolved or call toll free 1-866-951-8387.

Joined by New Jersey Division of Highway Traffic Safety Director Pam Fischer, who led the Teen Driver Study Commission, which advocated the use of vehicle decals for new drivers, Dow and Martinez highlighted the state’s leadership on the issue of teen driver safety, outlined the requirements of Kyleigh’s Law and stressed the importance of responsibility behind the wheel.

Attorney General Dow noted that the new decal will provide an additional tool for law enforcement officers to use in their continued efforts to enforce the Graduated Driver license (GDL) law.

“The new decal will strengthen police officers’ ability to enforce the Graduated Driver License law requirements,” Attorney General Dow said. “We know that identifying a GDL holder can often be difficult for those enforcing the law. Stopping a driver for a potential GDL violation should never be based on the fact that a driver appears young, is leaving a school parking lot or is in a vehicle that may be more typical of teens. By providing probable cause to stop a teen driver who may be in violation of the GDL requirements, law enforcement officers can not only enhance their enforcement efforts, but ultimately ensure that young drivers are kept safe and free from harm.”

“One of the greatest challenges young people face in their lives is becoming a licensed driver,” said Martinez. “Getting behind the wheel is a tremendous responsibility and it is important for those of us with more experience and knowledge to provide the necessary tools, guidance and support that will allow teens to safely join the millions of drivers traveling our roadways each day.”

Beginning April 12, all MVC Agencies will sell the decals at $4 dollars per pair. The decals must be attached to the top, left corner of the front and rear license plates prior to the Graduated Driver License (GDL) holder operating the vehicle. The decals are removable so that other family members who share a vehicle with a GDL holder may remove them prior to driving. The MVC anticipates that approximately 500,000 pairs of decals will be sold during the first year of the new law. While the decals will be issued to a new driver upon receiving a permit, those drivers who are already on the road, but still holding a probationary license under the GDL law, will be required to purchase the decals and display them by May 1.

Named in memory of Kyleigh D’Alessio, a Morris County teenager tragically killed while a passenger in a car driven by a probationary driver, the decals provide state and local law enforcement with a useful tool in identifying those drivers who are violating restrictions imposed under the state’s GDL law. The statute stems from the work of the Teen Driver Study Commission, which issued, in March 2008, a comprehensive report outlining 47 recommendations for stemming the tide of teen driver crashes in the state. A number of the recommendations were introduced as legislation or are being addressed by the Division of Highway Traffic Safety.

According to Division of Highway Traffic Safety Director Pam Fischer, significant progress has been made in implementing the essential recommendations made by the Teen Driver Study Commission during the past two years, but more work still needs to be done.

“By strengthening the Graduated Driver License law, we are making progress in improving teen driver safety,” Fischer said. “But, while we’re seeing a drop in the total number of teen drivers and their teen passengers killed in traffic crashes, that number is still too high. Until we can say “no teens have lost their lives in a senseless car crash” our work must, and will, continue.”

Motor vehicle crashes remain the leading cause of death for young people ages 16 to 20. Teens also represent the largest contingent of drivers involved in crashes in New Jersey, although they account for only six percent of licensed drivers.

In New Jersey in 2009, 36 teen drivers and 8 teen passengers were killed in traffic crashes, while in 2008, 36 teen drivers and 23 teen passengers tragically lost their lives in a vehicle. In 2007, 35 teen drivers and 33 teen passengers were killed on New Jersey roads. Nationally, 6,000 teens are killed and approximately 300,000 injured in crashes each year.

In addition to Kyleigh’s Law, several other changes to New Jersey’s GDL law will also take effect on May 1. Permit and probationary (formerly provisional) license holders may not operate a motor vehicle after 11:01 p.m. and before 5:00 a.m. and may not use a hand-held or hands-free interactive, wireless communication device, including iPods. Passenger restrictions have also been updated for both permit and probationary licensees. Learner’s permit holders may only operate a vehicle with a supervising driver who is over 21 and licensed to drive for at least three years and one additional passenger, unless a parent or guardian is in the vehicle. A probationary license holder (who may drive without supervision) may transport only one passenger unless the passengers are the driver’s dependents. If a parent or guardian is in the vehicle, the passenger restriction does not apply. Violation of the GDL restrictions, as well as failure to display the decal, will result in a $100 fine.

More information about Traffic Violations can be found at our website.

Contact Garces & Grabler online to get your Traffic Violation resolved or call toll free 1-866-951-8387.

“For years, too many pedestrians have been dying in traffic accidents in New Jersey,” said Attorney General Paula T. Dow. “With these changes to our law, motorists and pedestrians will no longer have to play a game of chicken when it comes to maneuvering on our roadways. The law brings new clarity that drivers must stop and remain stopped for pedestrians at intersections and crosswalks, and pedestrians, in turn, must use due care and not jaywalk or step into traffic outside of those crossing points.”

Division of Highway Traffic Safety Director Pam Fischer explained that the agency will be working with law enforcement officials to educate both motorists and pedestrians about the change in the law.

“We’re asking law enforcement officials, when interacting with motorists and pedestrians, to educate them about the change to the law, as well their respective duties and responsibilities when walking or driving,” said Director Fischer. “Our goal is to reinforce the importance of pedestrians always using crosswalks, their safety zone, and for motorists to recognize that when approaching crosswalks they must be alert for pedestrians and stop and stay stopped to allow them to cross safely.

“We recognize that we cannot change everyone’s behavior overnight; this will take sustained effort over a long period of time,” Fischer added. “However, through education and enforcement, we can change the culture and improve safety for all roadway users.”

To educate motorists about the new law, the Division has developed an oversized palm card, similar in size to a traffic ticket, that outlines the changes as well as the penalties for failing to comply. The card will be distributed to all police departments in the state, and made available to high school driver education teachers and defensive driving program providers. The new law will also be detailed in the New Jersey Driver Manual. The public can download it from the Division’s web site, at www.njsaferoads.com.

“This new law complements our ongoing effort to enhance pedestrian safety on New Jersey’s busy roadways,” said New Jersey Department of Transportation Commissioner Jim Simpson. “Since 2006, NJDOT has completed or funded 205 pedestrian safety initiatives, and just a few months ago we adopted a Complete Streets policy that promotes safe accessibility for all who share our roads.”

“Pedestrian safety is a two-way street and it is important that both drivers and those sharing the road take the necessary precautions to prevent injuries and fatalities,” said Motor Vehicle Commission Acting Chief Administrator Raymond P. Martinez. “Continued improvements to engineering, education and enforcement are the keys to enhancing safety throughout our state.”

Motorists violating the new law face a $200 fine, plus court costs, and 2 points on their license. They can also be subject to 15 days of community service and insurance surcharges. Pedestrians may also be cited under state law for failing to use due care when crossing. The law requires them to obey pedestrian signals and use crosswalks at signalized intersections as well as yield the right of way to traffic if they are not crossing within a crosswalk or at an intersection. Failure to comply with the law carries a $54 fine, plus court costs.

Fischer noted that since 2004, approximately 150 pedestrians have been killed annually in traffic-related crashes on New Jersey roadways. In 2009, after a three-year downward trend, the number of pedestrian deaths statewide increased to 157. As of March 26 of this year, 28 pedestrians have been killed in motor vehicle-related crashes statewide, as compared to 48 for the same time period last year. Additionally, since 2004, more than 30,000 pedestrians have been injured in motor-vehicle related crashes statewide.

“While the numbers are once again moving in the right direction, even one life lost is one too many,” Fischer said. “Until we achieve zero fatalities, we must educate both pedestrians and motorists about the importance of remaining alert at all times, and taking personal responsibility for their actions.”

The Division offers the following safe walking tips for pedestrians:

• Wear bright-colored, reflectorized clothing, especially at night.
• Walk on sidewalks or paths and always cross at the corner, within marked crosswalks if provided. If there are no sidewalks, walk facing traffic and make eye contact with motorists.
• Never cross mid-block (unless within a marked crosswalk), between parked cars or by climbing over median barriers. This is not only unsafe, but against the law.
• Look left, then right and left again before crossing, and always be on the look-out for turning vehicles.
• Continue to look for vehicles while crossing, even when in marked crosswalks.
• Learn the proper use of “walk/don’t walk” signals and obey them.
• Walk and cross with others, when possible.
• Do not attempt to cross while talking or texting on a cell phone. Pedestrian inattention is a common cause of pedestrian-motor vehicle conflicts.
• Try not to walk at night or in bad weather, such as rain, snow or ice.
• If you drink alcohol, have someone escort you to your front door.

More information about traffic violations can be found on our website.

Contact Garces & Grabler online for help resolving your traffic violation. Or call us toll free 1-866-951-8387.

Driving in New Jersey is a privilege that may be enjoyed as long as motorists drive safely. Obeying established motor vehicle rules and regulations is critical, as is the respect that must be paid to other motorists who also share the roads.

Violating New Jersey’s motor vehicle laws will result in the loss of driving privileges. New Jersey will also suspend driving privileges if a driver is convicted of a violation in another state that would be grounds for suspension. It is important to note that violations become a permanent part of motorists’ driver history records.

Driving while under the influence of alcohol or drugs, or reckless driving, are examples of motor vehicle violations that may result in the loss of driving privileges. It will take time and money to reinstate driving privileges.

Driving Under the Influence of Alcohol or Drugs (DUI)

A person who operates a motor vehicle with a blood alcohol concentration (BAC) of 0.08% or above is considered to be driving under the influence.

First Offense – BAC 0.08% but less than 0.10%

• 3 months driving privilege suspension
• $250-$400 fine
• 12-48 hours at intoxicated driver resource center (IDRC)
• Maximum 30 days imprisonment

First Offense – BAC 0.10% or higher

• 7 months to1 year driving privilege suspension
• $300-$500 fine
• 12-48 hours IDRC
• 30 days maximum imprisonment*

Second Offense

• 2 years driving privilege suspension
• $500-$1,000 fine
• 30 days community service
• 12-48 hours IDRC
• 48 hours – 90 days imprisonment*

Third Offense

• 10 years driving privilege suspension
• $1,000 fine
• 90 days maximum community service
• 12-48 hours IDRC
• 180 days imprisonment*

DUI in School Zone or School Crossing

First Offense

• 12-24 months driving privilege suspension
• $500-$800 fine
• 60 days imprisonment

Second Offense

• 48 months minimum driving privilege suspension
• $1,000-$2,000 fine
• 60 days community service
• 96 hours-180 days imprisonment*

Third Offense

• 20 years driving privilege suspension
• $2,000 fine
• 180 days imprisonment

Refusing the Chemical Test

 First Offense

• 7 months to 1 year driving privilege suspension
• $300-$500 fine
• 12 hours minimum IDRC

Second Offense

• 2 years driving privilege suspension
• $500-$1,000 fine
• 12 hours minimum IDRC

 Third and Subsequent Offenses

• 10 years driving privilege suspension
• $1,000 fine
• 12 hours minimum IDRC

Refusing Chemical Test in School Zone or Crossing

 First Offense

• 1 to 2 years driving privilege suspension
• $600-$1,000 fine
• 12 hours minimum IDRC

 Second Offense

• 4 years driving privilege suspension
• $1,000-$2,000 fine
• 12 hours minimum IDRC

 Third and Subsequent Offenses

• 20 years driving privilege suspension
• $2,000 fine
• 12 hours minimum IDRC

Underage

For persons under 21 (the legal age in NJ to purchase an alcoholic beverage) who consume an alcoholic beverage, then drive a vehicle when their BAC is 0.01% or more, but less than 0.08%, the penalties are:

 Minimum

• 30-90 day driving privilege suspension if currently licensed; or
• 30-90 day prohibition from becoming a licensed driver at age
• 17 years; and,
• 15-30 days mandatory community service; and
• participation in an IDRC or other alcohol education; and
• completion of a highway safety program

or

• a combination of the minimum sentences above and DUI sentences (see schedule)

Maximum

DUI sentences (see schedule). If the BAC is 0.08% or higher, underage persons will receive DUI sentences as noted.

Interlock Device Requirements

The courts may require first and repeat DUI offenders to use an ignition interlock device. To start the vehicle, the driver must blow into the device. The vehicle will not start if the driver’s BAC exceeds 0.05%.

First Offense, Court May Impose

• 6 months-1 year installation of interlock device after restoration of driving privilege

Second Offense

• 1-3 years installation of interlock device after restoration of driving privilege; or
• 2 years suspension of registration privileges

Third offense

• 1-3 years installation of interlock device after restoration of driving privilege; or
• 10 year suspension of registration privileges

Surcharges – Alcohol Violations

In addition to the court imposed fines and penalties, anyone convicted of DUI or chemical test refusal is subject to:

• an insurance surcharge of $1,000 a year for three years ($3,000) for the first and second conviction within a three-year period.
• an insurance surcharge of $1,500 a year for three years ($4,500) for a third offense within a three-year period.
• a single $100 DUI enforcement surcharge that must be paid to the court with the required fine upon conviction.

The surcharges will be imposed on a New Jersey or an out-of-state conviction. Failure to pay the surcharge will result in indefinite suspension of all driving privileges and the filing of a judgment against any personal property.

Surcharges – Point Violations/Other

Motorists who incur six or more motor vehicle points are also subject to an insurance surcharge of $150 for six points and $25 for each additional point. The point surcharge will remain in effect as long as a motorist has six or more points on their record for the immediate three-year period. MVC will suspend all driving privileges indefinitely and take judgment action if the surcharge is not paid. Other violations subject to a surcharge are:

• driving while unlicensed $100
• driving while suspended $250/Court or MVC imposed
• failing to insure a MOPED $100
• operating an uninsured vehicle $250

Boaters

Boaters convicted of driving under the influence (DUI) on New Jersey’s waterways will be suspended from both boating and all driving privileges. Violators under 17 will have their vehicle and MOPED driving privileges delayed for a term equal to the suspension period.

No Conditional or Special Work Licenses

New Jersey does not have conditional or special work licenses. If a motorist does not have a valid driver license, or if a driving privilege is suspended for drunk driving or any other violation, a motorist may not drive for any reason until that privilege is restored.

*New Jersey Statutes Annotated

If you need a NJ attorney to handle your drunk driving case, contact Garces & Grabler online or call us toll-free immediately 1-866-951-8387.

More information about Drunk Driving Defense can be obtained at our website.

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The dog owner still insists that the dogs did not bite his family member. But the police officer on the scene and the doctor attending the attack victim have a different report of the unprovoked attack. Detective Sgt. Ernie Silagyi said the police officers responding to the scene indicated there “were obvious dog bites.” The attending emergency room doctor said, “this was definitely dog bites, not scratches.”

Giovanni Rivera, a Honduran immigrant, was brutally attacked by a German shepherd named Congo and four of his pups while working at the dog owner’s home. Mr. Rivera received a $250,000 settlement for injuries caused by the attack through the representation of Kevin Riechelson. This case received national and international attention because it raised issues related to immigration. Read more about the Congo case

Many New Jersey motorist are finding out firsthand that New Jersey has gotten serious about cracking down on the dangerous and defiant use of hand-held cell phones while driving.

Text-messaging and using other electronic devices such as BlackBerries while driving have also been banned on New Jersey roads.

The ticket is $130. That can be an expensive conversation you may not soon forget. Also don’t think that it’s okay to talk on the bridge between Pennsylvania and New Jersey. It turns out Delaware River Port Authority police can enforce either state’s laws anywhere on their bridges, spokeswoman Danelle Hunter said.

According to the Insurance Institute for Highway Safety, drivers having phone conversations are four times as likely to have an accident – even with hands-free devices.

Pam Fischer, director of New Jersey’s Division of Highway Traffic safety says, "You’re still distracted… You stop scanning the road, and you stop scanning the mirrors. You have tunnel vision."

Her advice: Those who choose to call while driving should "do it hands free" and "make it as quick as possible. ""Hang up and get back to driving, which is the only thing that you should be doing when you’re behind the wheel."

If you still don’t have a hands-free head set for driving, it may be a good idea to get one. It’s got to be cheaper than a $130 ticket and it’s safer, as well. So like the Doors song says, "keep your eyes on the road and your hands upon the wheel."

Source: The Philadelphia Inquirer.

If you have a driving violation in the state of New Jersey we can help. Call the New Jersey Law office of Garces & Grabler at: 888-455-1549 or contact us

“We will always represent all of our clients with dignity and respect”:

The Congo case, involves a dog bite in the upscale community of Princeton New Jersey and the controversial issue of immigration, and all of the emotions of that argument. Sadly, the law offices of Garces and Grabler in New Jersey received many hateful messages and bigoted remarks against Hispanics in general because of there defense of an individuals human rights rights.

The lawyers and staff of Garces and Grabler hold there ground in the face of these hateful remarks, and are proud of legal representation of all human beings. If you are hard working in this country and playing by the rules, you have rights, and the law offices of Garces and Grabler will defend those rights as your attorney for life!

“As I would not be a slave, so I would not be a master. This expresses my idea of democracy.” – Abraham Lincoln