There is no other coverage than the $25,000. My client said to me today he had no idea, back when he did have a car, that when he chose to have minimal coverage (because they car was junky) that he could hit someone and all he would have to help that person was a minimal policy. He was horrified that he could “ruin someone’s life” because he lacked insurance.

So please, everyone, check your coverage amounts. Check to see if it would really cost that much to go up in coverage. Check around for other insurance companies. Ask your friends and family if they are happy with their insurance companies. Get referrals, price compare.

Because if you make a mistake and hit someone, you will be responsible for those injuries. And while you certainly don’t want to have your house sold or lose your life savings, please don’t forget you are also affecting the life of person (and their family) you hit.

Also, check how much underinsured motorist insurance you have. This comes into play when someone hits YOU and does not have enough insurance. In Oregon, even if you have a lot of underinsured motorist coverage, your own insurance gets to reduce that underinsured motorist availability by the total amount you have already received.

So if you have $100,000 in underinsured motorist coverage, and the person who hit you gave their policy limit of $25,000, and paid out in Personal Injury Protection the minimal $15,000, then you are actually only entitled to $60,000 of your own policy. A legislative fix is drastically overdue for this terrible system in Oregon. But in the meantime, don’t rely on bad drivers to make sure you will have enough insurance to cover your injuries. Medical bills are crazy expensive. Protect yourselves and your families.

This article and the ebook on line should be a great resource for people who are under water on their mortgages.

Oregon leaders mobilized in attempts enact legislation multiple times over the last three years to combat the problem, and succeeded in their efforts in 2012 with the hard-fought win of SB 1552.

SB 1552 is a major victory over bank lobbyists who were determined to block foreclosure reform in Oregon. Despite their best efforts, the voice of the people won out. SB 1552 offers mediation to homeowners in foreclosure or underwater in their mortgages, giving them the opportunity to discuss foreclosure- avoidance measures with their bank and a neutral third party. 21 other

states already use mediation, with well-established programs resulting in foreclosure alternatives more than 50% of the time. This will go a long way toward solving Oregon’s ongoing foreclosure crisis. According to estimates by national experts, more than 10,000 Oregonians each year will be able to avoid foreclosure as a result of SB 1552. Another benefit Oregonians will see as a result of 1552 is the end of the dual track system, in which one arm of a lender actively negotiates a modification with a homeowner while a different arm simultaneously pursues foreclosure.

Oregonian’s can stay apprised of the latest developments on the implementation of SB 1552 by visiting the websites of the Oregon Department of Justice or Economic Fairness Oregon – www.doj.state.or.us, www.economicfairnessoregon.org.

SB 1552 Summary

• Mandatory Meeting with Underwater Homeowners – Requires lenders to meet with homeowners who are underwater in the presence of a third party mediator upon

• Mediation for Homeowners in Default – Prior to starting the foreclosure process, lenders must mediate with homeowners in default to negotiate possible alternatives to foreclosure, unless homeowner chooses to opt-out.

• Housing Counseling – Requires homeowner to visit a housing counselor prior to proceeding with mediation.

• Fast Track to Mediation – If the homeowner is unable to get an appointment with a housing counselor within 30 days, the housing counselor requirement is waived so the homeowner can proceed directly to mediation.

• Advance Notification – Notice of mediation must be sent 60 days prior to service of the notice of sale. The existing 120 day timeline from notice of sale to foreclosure sale remains.

• Authority to Negotiate – Banks must send someone to mediation with the authority to accept or reject proposals for foreclosure avoidance measures. If good cause is shown, the mediator may allow the lender’s representative to attend the mediation by phone or video. • Attorney General Oversight – Directs the Attorney General to draft rules and oversee the foreclosure mediation program.

• Costs – Lender and homeowner share the cost of mediation. Homeowner may be charged a fee of up to $200. Mediator may waive cost to homeowner.

• Exception for Small Lenders – Lenders doing fewer than 250 foreclosures a year (including those filed by affiliates or agents) are exempt from the mediation requirements.

• End to “Dual Tracking” – Prohibits all lenders from “dual tracking” homeowners (renegotiating loan terms with homeowners while at the same time pursuing foreclosure) by only allowing a lender to foreclose if: a. The borrower has violated a current foreclosure avoidance agreement, or; b. The borrower is not eligible for any foreclosure avoidance measure.

• Proper Notice – Once a lender has determined it can foreclose, it must provide the homeowner with notice 30 days before the foreclosure date is scheduled. A sale date may be postponed once for up to 2 days by announcement at the original sale date, or the lender must provide at least 15 days’ written notice of the new date.

• Enforcement –Prior to sale, the lender must record certification of compliance with mediation and the dual track provisions. Lack of this certification would create a cloud on the home’s title. Sanction for violation of the dual track provision is a $500 fine, actual damages, and reasonable attorney fees to the prevailing plaintiff.

• Effective Date – The bill has an emergency clause and takes effect on the 91st day after it is signed by the Governor.”

]]> http://www.northportlandattorney.com/sb-1552-foreclosure-reform-from-economic-fairness-of-oregon/feed 0 http://www.northportlandattorney.com/theresa-m-kohlhoff-is-an-avvo-rated-attorney http://www.northportlandattorney.com/theresa-m-kohlhoff-is-an-avvo-rated-attorney#comments Mon, 26 Mar 2012 14:42:16 +0000 admin http://www.northportlandattorney.com/?p=336 This means that she is “widely recognized by the legal community for professional conduct and experience.”

What happens is this- in the most common cases a person is in an auto collision, or has vehicle damage where the value of the entire case is less than $10,000.  Given what juries are awarding these days, many cases fall into this realm.  A demand must be sent both to the driver of the at-fault vehicle and their insurance company.  I send medical records and billings to the insurance company only.  Then we wait for 30 days.  If the insurance company comes in with a decent offer, then we settle and it’s a contingent fee.  But, if the insurance company comes in with a lower offer than we (attorney and client) think the case is worth, we file the case.  Defendant must beat that offer at arbitration or trial, or risk paying attorney fees from the date the client walked into the office.  The client then receives the entire award or judgment.

This statute is intended to settle the “small” cases in Oregon because the defendant could take a very big hit on attorney fees.

If we decide to use this statute in your case you will receive alot of more information on ORS 20.080, it’s risks, it’s benefits, and whether it’s right for your case.