Federally Registerd Non Profit Law Clinic

Santa Ana, CA (PRWEB) December 1, 2010

As the housing crisis deepens, true relief for homeowners is scarce. A Non Profit Law Clinic with supporters and volunteers that range from law students, 38 year multi state licensed Mortgage and Real Estate Contract Litigators, Real Estate/Mortgage Professionals to large Investment Firms has launched a breakthrough approach, effectively allowing for a substantial “principal reduction” – something unheard of in the Financial Industry until now, by allowing individual homeowners to participate in a very common banking practice.

Consumer Protection Assistance Coalition (CPAC), an established Non Profit Organization with Federal Government recognition as a 501 c3 Tax deductable organization with a current presence in Washington DC, Arizona, California, Colorado and New York is taking a very unique but effective approach to help all families especially those with children and the elderly facing homelessness due to wrongful or illegal Bank Practices including wrongful foreclosure. One of CPAC’s Directors, James Curtis Esq, a practicing Attorney for almost 25 years and 10 year veteran as lead criminal prosecutor in the Assistant District Attorneys Office has attracted many supporters and alliances for their cause.

“In our struggles to help families that the lenders have seemed to “toss aside” out of greed and in most cases very questionable if not illegal actions perpetrated by the same lenders our Tax (TARP) Payer Billions went to, we have seemed to have attracted some very innovative supporters that now allow us to offer a true “Restructured Mortgage” program by using the same system those same lenders have been using for decades, buying and selling Mortgage Notes back and forth to each other, only they never allowed the homeowner to benefit from, until now, we call it Consumer Home Affordable Restructured Mortgage program or just CHARM for short. ” states Mr. Curtis.

Mr. Curtis continues “In today’s Banking environment, Note Holders of Home Mortgages are trading, buying and selling both Non Performing as well as Performing Mortgage Notes like a Monopoly game, only with real people’s lives that they don’t seem to care about. Our approach is very simple, yet very effective. We help the consumer with every aspect and level of aggressiveness in approaching their lender to allow a long term sustainable alternative to foreclosure. We use many different approaches, some very subtle and non threatening to very aggressive methods including but not limited to State and or Federal Law suits filed against the Lender and the actual Note Holder for very commonly found errors, mistakes, violations or misrepresentations in the loan itself that may make that loan legally unenforceable let alone un-foreclosable”.

According to Mr. Curtis statement, “Every one knows the lenders have no intention in voluntarily helping the homeowner, not if it causes the lender any type of loss. That’s why the current failure rate on voluntary lender loan modifications has been reported higher than 99%. I read some where that out of 650k families that finally received a Trail Plan, with a promise to get permanently modified, only 2000 families received a permanent loan modification. Most of those re-defaulted and were only short term rate reductions that will place the home owner back in the same or worse spot in the near future”. Mr Curtis continues “Unfortunately the homeowners now have very few real alternatives other than what their lenders want them to do, either selling their home, being forced to accept a meaningless temporary interest rate reduction, experiencing foreclosure or finding a more aggressive offensive approach based on the lenders short comings, that’s where we come in. Unlike other than Non Profit entities paid by, sponsored by or supported by the banks them selves, like wolves in sheep’s clothing guarding the hen house. We work against the bank and only for the Consumer using Consumer Protective Laws and the United States Court System”.

According to Mr. James Curtis Esq “CPAC offers all consumers many completely free, no fee services and products that many consumers benefit from every day, because we have a very high level of Banking Professionals with in our organization, we actually get a good percentage of our clients meaningful and sustainable restructured mortgages with out having to resort to more aggressive methods, and that’s our goal 100% of the time. But in the event that the consumer wishes or is forced to by their lender, we put on our boxing gloves and kick them between the legs.”

Mr. Curtis continues “If that doesn’t get our consumer a settlement that they can truly afford, then we are prepared to go the full 12 rounds, but we slide a brick in each glove for leverage. Whack the Bank once upside the head then offer them a extra strength Tylenol and a pillow. We have attracted a few very interesting supporters that are investment firms, one is publically traded and others have pledged up to $ 78 million in revolving credit lines and are prepared to buy the Non performing Mortgage Notes or in some cases buy the homes from the foreclosing bank and resell the same home back to the homeowner, homeowners and their relatives for close to today’s market value”.

“One firm has agreed to do the same and actually lease back the home to the homeowner that was getting foreclosed on and give that homeowner a Purchase Option Agreement that will give the homeowner the chance to address any financial as well as credit issues. We are actually actively making great advances in aligning ourselves with a Private Banking institution that will actually give a new loan to the homeowner while they are in foreclosure, no other Non Profit or For Profit Organization that I know of can say that”. He continues, “ Our Coalition has many successful cases that resulted in the homeowner that was getting foreclosed on not getting any voluntarily help from their lender either bought their same house back for market value thru our investment partners or are still living in the same home paying a much lower monthly payment, in some cases less a third of what their prior payment was with the first right of refusal to purchase back their home for close to today’s market value, in a specific case that meant $ 250k less, half of that was previously owed on the same property to the foreclosing lender with a faulty mortgage loan contract”.

CPAC offers any consumer free consultation, free lender fraud and violation analysis, free permanent principal reduction program pre-qualification, free loan modification package that is lender specific with web based paperless document upload, storage and immediate recall delivery with password protected access for the homeowner or any one the homeowner wishes to have viewing access to what is now always getting lost by lenders. CPAC also offers free Home Affordable Modification Program (CHAMP) long term result review and free explanation of consumer protective laws, services and products that are available to educate and prepare every consumer to make the decision that’s right for them. Some thing your lender and your lenders paid affiliates, including most Non Profit company’s wont do. CPAC will even offer consumers a free explanation of non legal alternatives that will only help the consumer not the lender then refer or introduce the pre-qualified consumer to a vetted experienced professional to properly execute that alternative. Why do they do all this for free, well they do it hoping that their free services, advice and products do the trick, but in the event that a consumer needs a more aggressive approach CPAC wants the consumers to understand and be aware of other very reasonably priced consumer protective legal products and services CPAC’s Staff Attorneys or Of Council hopefully will assist with, including but not limited to Class Action Lender Law Suits seeking Quiet Title, that’s a paid off free and clear home due to lender Fraud, violations, misrepresentation and complete mishandling of official documents.

CPAC also seeks contributions, donations and pledges from both the public and private sector that will be used 100% to help post or pre foreclosure families with children or the elderly that are or maybe facing homelessness due to foreclosure. There is a lot of focus on foreclosure; there has been Billions of dollars in bail out funds given to Corporate America, Wall Street Criminals, Banking Institutions that didn’t really need Billion Dollar Bonuses. So far all the focus has been placed on post foreclosure assistance to the Banking Institutions. But no one has addressed the poor families suffering from the lenders greed, abuse and illegalities committed against America’s average John Doe, who has Grandpa or Grandma and 2 small innocent children living with them who can’t fight the Bankers alone, that’s why CPAC exists.

If you are or know a family in need of CPAC’s help, or you wish to make a donation, pledge or contribution to a very worthy cause before the end of the year, please visit CPAC’s web site http://www.CPACaid.org. Its time America re-focuses in the right direction. CPAC’s phone number is 866-773-7864

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After obtaining information regarding the cost of tenant improvements, you should be able to estimate the cost of occupancy for your retail space. This will include rent, CAM charges, utilities and the amortized cost of tenant improvements.

CAM

CAM charges referred to comment area maintenance. Practice may vary from area to area, but in most areas this includes not only maintenance expenses but also the cost of taxes and insurance. Most leases for retail space include a partial or complete pass through for basic operating expenses, insurance, management, and property taxes. The landlord or leasing agent should be held to provide an estimate of these charges for your space.

Amortized TI

The amortized cost of your tenant improvements will be the cost over the term of your lease. To keep matters simple, if you are spending ,000 to renovate your space, and your lease is for five years (60 months), include 00 per month for the cost of tenant improvements.

Are You Paying Too Much?

Next research the occupancy cost compared to what others in your industry are spending. You may want to review occupancy cost on a dollars per square foot basis, percentage of sales basis and a dollars per month per location basis. If possible, determine what other similar businesses in your area are spending monthly for their total cost of occupancy.

Occupancy Cost Data Sources

Research the information available from industry associations and related publications for information on occupancy costs. It is sometimes referred to based upon dollars per square foot per year. It is more often referred to as a percentage of sales. If this is your first store, it will be difficult to estimate your sales. If you have other locations, you should be able to make an educated guess regarding the probable level of sales for this location.

Dollars per Month per Store?

In some cases, it may also make sense to review the cost of occupancy on a dollars per month basis. For example, if your existing stores tend to have a similar level of revenue, focus on locating retail spaces which meet minimal criteria and have the lowest monthly occupancy cost. Conversely, perhaps any store will have an excess amount of space for your real needs.

Rent per Month Example

For example, perhaps you operate a seasonal income tax business. During the peak of the season, there’ll only be two people in the store (you and your assistant). Based on previous experience, there are no locations which will provide the minimal amount of space you truly need. Further, since you are only leasing a modest amount of retail space for 4 months per year, landlords have not been particularly accommodating. Hence, a location which meets minimal criteria and has the lowest cost for the tax season may be your best option.

Criminal Activity?

Finally, research criminal activity in the area for the retail space you are considering. In many cases, it is apparent whether an area is likely on the low crime rate or high crime rate end of the spectrum. However, considering the investment of time and capital necessary to open a store, it would be very disappointing to learn your retail space was near a hotbed for criminal or gang activity shortly after opening.

Example

Consider the following example. A retail center in north Houston had been a prosperous shopping center on a major thoroughfare for 15 years. Shortly after hurricane Katrina devastated New Orleans, many evacuees from New Orleans settled in Houston. For whatever reason, a large number of New Orleans residents who were criminals located in the adjacent apartment complex. During the next 12 months, there were three murders on the retail center property. Occupancy fell from 80% to 30% because of the problems.

Crime Data Sources

Options for researching criminal activity within an area include online crime reports, discussions with tenants at the property, and discussions with police officers who are active in the area.

Online

In most cases, the information from the services will adequately address the issue of criminal activity near the retail space you’re considering. However, the most current and contextual data you’ll be able to obtain is from tenants at the property and local police officers.

Speak to Tenants

Tenants at the property where you’re considering leasing retail space can be a wonderful resource. They can provide information regarding crime in the area, tenants who have left the center, problems with traffic, problems with ingress and egress, problems with parking, and the trend in the center. Retailers within a retail center typically trade notes or visit with each other. Ask if business has been getting better, or is business declining for the businesses within the center?

Area and Property Criminal Reports

Area police officers are another excellent resource regarding criminal activity in the area. In most cities, you can obtain information regarding criminal records for any address. The records are public information. All you have to do is request the information and pay for the cost of copies.

Speak to the Source

In addition, in most cities the police are willing to visit with you if you are considering opening a business. Expect them to be very direct regarding criminal activity and trends in the area. It is possible they will discourage you from opening a store in a location you’re considering. However, is much better to not open a store in a poor location then to open the store and have to close the business.

The Market Research and Consulting division of O’Connor & Associates provides information necessary to make decision to commercial real estate professionals. Information regarding Houston apartments, San Antonio apartments, Dallas Apartments, Fort Worth Apartments and Austin apartments is updated monthly and available at Oconnordata. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance.

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