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Home Loans have now Become Affordable for Younger Borrowers with Limited Credits

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Everyone wants a home in their home. But given the rising prices of houses, it is hard to get one without loans. There will be a rise in the price of houses in the next five years by 5-8%. And hence, foreseeing this price increase, a lot of people are rushing forward to purchase the homes when they are still in their budget or possibility. But it is easier for people with a longer credit history to get loans.

But young people with new jobs often find it hard to get home loans. A popular mortgage broker from Los Angeles mentioned that it might be possible for young people to get home loans if they have a credit union account. The salary history of younger people is not sufficient to meet most underwriting requirements. They have low FICO scores; that’s why they can’t get loans.

The credit union does manual underwriting, which allows them to skirt the rigid standards imposed by others. They can give away loans even when the borrower does not tick all the required boxes.

Sometimes young home buyers also need their parents to become the loan co-signers. Not because they have bad credit but because they have to pay high down-payment and high interest. Most of the youngsters make money but can’t spend it on the loan because they have to pay off student loans. In such cases, parents can help out their kids and Co-sign the loan with them and gift their child money for a down payment.

Buying a home is a dream come true for youngsters. It is better to buy a home now, rather than waiting for another ten years.

A multi-lingual talent head, Jimmy is fluent in languages such as Spanish, Russian, Italian, and many more. He has a special curiosity for the events and stories revolving in and around US and caters an uncompromising form of journalistic standard for the audiences.

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Reckless Driving in the State of Virginia

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The state of Virginia is strict in its enforcement of laws against reckless driving. According to section 46.2-852 of the Virginia Code, reckless driving is listed as a criminal offense. In addition, the Virginia Code categorizes all driving that endangers the life and property of others as reckless.

Several behaviors that motorists exhibit while behind the wheels can qualify as reckless driving in Virginia. “Reckless driving causes nearly a third of all deaths involving major car accidents, which are more than 13,000 each year,” explains attorney Karin Riley Porter. As a result, you can be charged by an officer and can be found guilty or not guilty by a judge.

Types of Reckless Driving

Reckless driving is in different forms and includes:

1. Driving a vehicle with a mechanical fault

Va. Code § 46.2-853 considers driving a vehicle with faulty brakes as a reckless driving offense. Therefore, if a driver cannot maintain proper vehicle control, the driver will be held liable for reckless driving. However, if a driver could prove that they didn’t have prior knowledge that the vehicle was faulty, it would be possible to avoid conviction.

2. Not giving out the right signals when required

Not giving out a signal while driving on Virginia road is an offense under section 46.2-860 of the Virginia Code. Motorists are required to start signaling 50 feet away from the place they would be turning where the speed limit is not above 35 mph. In situations where the speed limit is above 35 mph, drivers are required to signal 100 feet away from where they would take a turn.

3. Driving alongside another vehicle on a single lane road

In Virginia, driving two vehicles abreast on a one-lane road is considered a reckless driving offense. This rule, however, only applies to vehicles and has no implications on motorcycles and bikes. If found liable, the offender will face charges.

4. Overspeeding

Different Virginia roads are subject to variable speed limits. A driver can face charges for reckless driving if they exceed the speed limit specified by law on each road network. According to the Va. Code §46.2-862, a driver can face convictions for reckless driving if they exceed the specified speed limit by 20 mph or drive above 80 mph.

5. Driving with an impaired view

Some drivers overload their cars or carry passengers who prevent them from seeing all sides of the road. Overloading is most common in trucks. If the passenger’s sitting position in any way obstructs the driver’s view, then the driver can be charged for reckless driving.

6. Racing on Public Property

Section 46.2-865 of the Virginia Code considers car racing on any property that is open to the members of the public without authorization as reckless driving. If found guilty, the state can withdraw the license of the driver for up to six months.

Penalties for Reckless Driving in Virginia

A reckless driving conviction may attract different penalties to the offender, some of which may include:

  • A suspension of the driver’s license for six months or more
  • Up to one-year jail term
  • Fine amounting to $2,500
  • Increase in auto insurance
  • Ineligibility for car rentals
  • Possibility of permanent seizure of vehicle if found guilty of unauthorized car racing

Conclusion

Reckless driving is a severe offense in Virginia. If you are charged with the crime and convicted, it can stay in your driving records for up to 11 years. However, with the help of an experienced Virginia traffic attorney, you can get a lesser charge for the offense.

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