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UCC-1 financing statement. A UCC-1 financing statement (an abbreviation for Uniform Commercial Code -1) is a United States legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor (a person who owes a debt to the creditor as typically specified in the agreement creating the debt).
Florida's homestead exemption that provides an exemption from forced sale before and at death are among the most protective in the United States as it provides no limit to the value of certain real property that can be protected from creditors. The property tax exemption clause of Article VI renders property tax-free to the extent of certain ...
v. t. e. In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral [ 1]) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. [ 2]
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601 – 2617. The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating ...
Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as ...
Truth in Lending Act; Long title: An Act to safeguard the consumer in connection with the utilization of credit by requiring full disclosure of the terms and conditions of finance charges in credit transactions or in offers to extend credit; by restricting the garnishment of wages; and by creating the National Commission on Consumer Finance to study and make recommendations on the need for ...
Stormwater fee. A stormwater fee is a charge imposed on real estate owners for pollution in stormwater drainage from impervious surface runoff. This system imposes a tax that is proportional to the total impervious area on a particular property, including concrete or asphalt driveways and roofs, that do not allow rain to infiltrate.
Credit card charge offs are on the rise in recent months. On the contrary, a credit card charge off means you are more than 180 days late on your payment and the credit issuer considers the debt ...