Montreal, QC (PRWEB) September 27, 2006
Silanis Technology, the leader in enterprise electronic signature options for the economic sector, right now announced a new electronic vault management system for protecting the value of electronic contracts throughout their lifecycle. Named ApproveIt
New York, New York (PRWEB) May 26, 2013
The federal litigation established for Biomet hip lawsuits continues to move forward in U.S. District Court, Northern District of Indiana, Bernstein Liebhard LLP reports. According to the Courts website, the litigations next Case Management Conference has been scheduled for June 17th. All of the lawsuits pending in the Biomet hip replacement litigation allege the metal-on-metal design of the Biomet M2a Magnum hip can generate high levels of metal ions, leading to metallosis in the surrounding tissue and early failure of the device. (In re: Biomet M2a Magnum Hip Implant Products Liability Litigation MDL No. 2391)
Our Firm is already representing clients in the federal Biomet hip replacement litigation, and continues to receive inquiries from Biomet M2a hip recipients who have allegedly suffered serious and debilitating complications related to the metal-on-metal device. We are pleased to see this proceeding moving forward, says Bernstein Liebhard LLP, a nationwide law firm representing the victims of defective drugs and medical devices. The Firm continues to offer free Biomet hip lawsuit evaluations to individuals allegedly injured by the Biomet M2a hip.
Biomet Hip Lawsuits
Biomet M2a Magnum Hip Replacements are metal-on-metal hip implants, which consist of a ball and cup made from a chromium-cobalt alloy. As of March 2013, court documents indicated that more than 140 Biomet hip lawsuits were pending in the federal Biomet hip replacement litigation. All federally-filed Biomet hip lawsuits were ordered transferred to the Northern District of Indiana in October 2012, in anticipation of a large number of claims.
This past January, the U.S. Food & Drug Administration (FDA) warned that metal debris shed as metal-on-metal hip components wear may accumulate to dangerous levels in the body. This occurrence can result in bone and/or soft tissue damage in the area surrounding the implant and joint, leading to adverse local tissue reactions, premature device failure, and even additional symptoms or illnesses elsewhere in the body. Among other things, the FDA cautioned doctors to consider metal ion testing if patients are experiencing symptoms of hip implant failure. According to the January announcement, the FDA is considering implementing new regulations for metal-on-metal hip implants that would make the devices ineligible for 510(k) clearances, which allowed such implants to come to market without human clinical trials.*
Alleged victims of Biomet hip replacement problems, including metallosis, hip implant failure, and other serious complications may be entitled to compensation for their medical bills, lost wages, pain and suffering, and other damages. A wealth of information about Biomet hip lawsuits is available at Bernstein Liebhards website. For additional information, please contact one of our attorneys today by calling 800-511-5092.
*fda.gov/MedicalDevices/ProductsandMedicalProcedures/ImplantsandProsthetics/MetalonMetalHipImplants/ucm241604.htm
About Bernstein Liebhard LLP
Bernstein Liebhard LLP is a New York-based law firm exclusively representing injured persons in complex individual and class action lawsuits nationwide since 1993, including those who have been harmed by dangerous drugs, defective medical devices and consumer products. The firm has been named by The National Law Journal to the Plaintiffs Hot List, recognizing the top plaintiffs firms in the country, for the past 10 consecutive years.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
800-511-5092
ATTORNEY ADVERTISING.
Irvine, CA (PRWEB) April 23, 2013
In this market, many real estate investors are starting to look at note investments as a new opportunity to earn above market returns as the price of real estate continues to stabilize, according to Jim Stepanian of Summerlin Asset Management. Real estate note investing, is defined as the origination of new, or the purchase of existing real estate secured mortgages and/or trust deeds. Many investors use language such as Buy Notes or Note Investing because the terms of a mortgage are detailed in the promissory note. Today Summerlin Asset Management has a large supply of mortgage notes for sale as they continue to buy large pools at wholesale prices.
With SAM’s new investment strategy they explain the many similarities between investing in real estate and investing in notes, including evaluating the collateral, and working with title, escrow and insurance companies. The old adage of real estate, location, location, location also applies to notes, although it may be more appropriate to say, collateral, collateral, collateral. Value the underlying collateral of the purchasers note investment as if they will own the property. Jim Stepanian stated, we prefer to own the loan and not the home, because we enjoy great cash flow on performing notes without the headaches of owning the property.”
For more insight visit: http://www.realestatenoteinvestments.com
Summerlin Asset Management also has a large supply of non performing defaulted loans it is buying from banks. After the acquisition of the note, Summerlin has the following workout solutions:
Short Payoff
One of the most equitable options SAM has for a borrower is a short payoff. In this instance, SAM provides a 6 month option where the borrower can pay off their mortgage at a price below the market value of the property. This happens by way of a family member putting up the cash, private money financing, or using 401k proceeds (if available) to pay off the home. Here is an example:
Unpaid Balance = $ 300,000.00
Home Value = $ 200,000.00
Purchase Price of Note = $ 120,000.00
In this case, SAM would offer the borrower a payoff at $ 180,000.00. In addition, SAM will write off the remaining debt and relieve the borrower from the difference. Since SAM is still profitable, SAM does not 1099 the borrower for the difference, thus creating no tax liability for the borrower.
Short Sale
The most common of all workouts, SAM works with the borrower to list their home. During the short sale period, SAM allows the borrower to live in the home with no mortgage payments. By keeping the borrowers in the home, it ensures SAM that the house is being properly maintained while the short sale process continues. If the borrower has a 2nd lien, SAM will work diligently with the subordinate lien holder to reduce their balance and be paid through escrow. Upon closing, SAM will provide the borrower with financial assistance to relocate in a smooth and efficient timeframe.
For more information visit: http://www.mortgagenotesforsale.us
Loan Modification/Forbearance Agreement
In this case, the borrower fell behind for a variety of reasons; loss of income, health issues, career change, etc. The borrower has expressed the desire to stay in the home and demonstrated the financial ability to sustain the current mortgage payment. SAM creates a forbearance agreement that will take the total amount of payments owing and divide the sum by 12. SAM adds the 1/12 to the regular monthly payment. This will immediately help borrower to get back on track, increase SAM’s cash-on cash return, and reestablish the borrower as a seasoned performer. In the event that the borrower lapses on their forbearance payment, SAM reserves the right to initiate foreclosure.
Cash for Keys/Deed in Lieu of Foreclosure
This is an instance where borrower is emotionally disconnected with the home and is living in the home. SAM creates an opportunity where the borrower is released from all personal liability on the obligation and walk away with enough cash to relocate and establish a new life. SAM offers them an aggressive cash incentive to sign over the deed to the home. This scenario exists if the home only has a first position lien (that SAM purchased) and the balance of the loan is higher than the value of the home. After SAM comes to a formal agreement in writing, SAM performs a thorough inspection of the home to identify potential problems. SAM’s contract states that within their discovery process SAM will identify problematic situations, i.e. roof leak, SAM has the right to reduce their cash offer to the current owner. SAM’s team encourages the home owner to treat this as a business decision.
Principal Balance Reduction
In this scenario, the balance of the borrowers loan is 175 percent or greater than the value of the home. In this case, borrower wants to keep their home. However, the borrower realizes they will never recoup the negative equity that they are paying down.
SAM will structure a 12 month program to write down the balance of the borrower loan in exchange for 12 months of un-interrupted, on-time payments. Here is an example below:
Unpaid Balance = $ 300,000.00
Home Value = $ 200,000.00
Purchase Price of Note = $ 120,000.00
Monthly Principal and Interest Payment = $ 1,896.20
For more info: http://www.safestrealestateinvestment.com
SAM will give the borrower a $ 5000 per month balance reduction at the end of the 12th month assuming borrower has made 12 on time payments. The end result is SAM’s portfolio enjoys a cash-on-cash return of 18.96 percent on their $ 120,000 investment while the borrower has the benefit of reducing the balance of their loan by $ 60,000 by month 12. This gives the borrower hope that their house will become an asset in the near future. In addition, SAM now has the ability to sell a 12 month, seasoned, performing loan, upwards of 70 percent of the home value. In conclusion, their return on investment for 12 months is 35.62 percent.
Today, Summerlin Asset Management has contracts with national banks, regional banks, hedge funds, and loan servicing companies across the united states. Therefore, Summerlin has more supply of 1st Trust Deed mortgage notes than most of its competitors. If you would like more information contact: Shannon Derosby or Adam Pakes at (928) 854-7747 or please visit http://www.investinsam.com