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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More Tax Lease Press Releases

Your lifestyle, trouble and your intentions and interests for the chances are determining factors. It cannot be confined to a dollars and cents option. So many related factors are there to be thought of. Some would be of considerable courage to accept a new car. The model matters for a majority as it represents their representation in the community. They reveal a lot of pride through the instrument with which they move in the community. Some of them look into the automotive as just a means of transportation. The commute could be of something which serves the purpose while staying durable and worth for the money paid.

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The down payments associated with the leasing mode are far less comparatively. You do not have to pay too much money as monthly installments. The procedure is to cut the maintenance costs associated in common. This is the key featured in comparison to all other modes. Above all, the most significant factor is when you have a satisfactory credit profile; you could put remarkably little money upfront to get your car. Apart from that the warranty assures you minimal costs of governing the vehicle as most of the mechanical breakdown expenses are borne to the company for around 3 years. It makes sense to pick trim yearly leases for cars.

Now the limitation should also be equally considered in the case of car leasing. Paying is continuous. You will always have a car payment do at any given month in the majority of cases. When one lease is done you got to opt for the next lease for you. At any given day, you will undoubtedly need a car from there onwards.

So what way it could be made better is what to be analyzed and found. The best way is to purchase a leased car through a car loan. Imagine you are leasing it for three times making a down payment initially to the tune of thousand dollars. All you would pay is about three hundred and odd bucks in a month regularly. After a decade, of usage the total expenses would be amounting to about forty one thousand us dollars and change.

Otherwise, when you are buying a car through auto finance, let us say you buy a used car eight thousand dollars. It might have been used earlier for four years. You will pay monthly ownership charges to the tune of about sixty three us dollars to own the car. Including maintenance for the used car it would be around fourteen thousand bucks what you would be paying after ten years span.

So when you view Car lease versus car finance, obviously the latter is cheaper. You could infer the extreme expenses associated with leasing. But you will be driving a new car at any point of time.

The capital allowances for purchasers of equipment have recently changed quite substantially.

For outright purchases made by companies after 1 April 2008 and for sole-traders/partnerships after 6 April 2008, there is an Annual Investment Allowance (AIA) of £50,000. This means thatequipment purchased outright up to a total value of £50,000 during their tax yearcan be claimed against their businesses profits. Anything above this amount during the same tax yearis thensubject to a Writing Down Allowance (WDA) of 20% per annum, and 20% pa on the reducing balance each year thereafter.

This policy changed again in the recent Budget (March 2010) – the major change being thatthe AIA was doubled from 1 April 2010 for companies and from 6 April 2010 for sole-traders/partnerships. This now means that businesses can write offthe first £100,000 of equipment purchases against their profits and then the standard WDA of 20% kicks in thereafter.

Remember however that this is only applicable to the equipment bought outright by the business. If you choose the lease rental option (because you don’t own title to the equipment) you can still ouffset 100% of every monthly rental payment you make. It is really down to your own business structure, cashflow, and operational procedures whether you ultimately choose to buy equipment outright for your business or opt to lease rent it, both have their advantages that should be carefully considered before making your final decision.

More Tax Lease Articles

• Tax relief – Rentals are 100% allowable against taxable profits (see example below)

• Option to take ownership of / title of proposed products

• Preserve other credit facilities

• No capital expenditure – rentals payable monthly

• Fixed Term (allows effective budgeting)

• Fixed payments

• Ability to add / upgrade products

Leasing vs Outright Purchase – Worked Example
Lease finance is the most effective way to acquire any new equipment as a result of the tax allowances that apply with this type of acquisition. Below is an illustration based on a 3 year lease agreement showing that, once tax relief is taken into account, the total amount paid can be less than buying the equipment outright:

Invoice Value: £10,000
Monthly Rental: £336.00
Total cost of Rentals: £12,096
Tax relief at 20% of Total cost: £2,419.20
Total cost after tax relief: £9,676.80

Lease Rental
Yr 1 – £4,032 (100% of rentals)
Yr 2 – £4,032 (100% of rentals)
Yr 3 – £4,032 (100% of rentals)
_________
Tax Relief Via Leasing: £2,419.20

Outright Purchase
Yr 1 – £4,000 40% of purchase price
Yr 2 – £1,500 25% of reduced value
Yr 3 – £1,125 25% of reduced value
________
Tax Relief Via Purchase: £1,325.00

This is a simple yet useful worked example that demonstrates the typical UK tax relief that is available via taking the leasing route to acquire new equipment for your business, compared to the UK tax relief available on outright purchase. This demonstration is based on the tax percentages currently in place in the United Kingdom and should be used only as an example. You should speak to your accountant to discuss your own personal business circumstances to see which is the most beneficial route for you.

The foundation for success…

A common challenge for all businesses is how to pay for the equipment needed to perform their services. Even among experts and professionals, opinions will often vary. The one thing you must recognize is that each business is unique and there are no standards that work for everyone. Only you know what your capital reserves are and what type of reserves your business will require from month-to-month. While some businesses are more sophisticated than others, only you have access to the full spectrum of your financial position today and the forecast of what responsibilities there are to come. It is not only essential that you prepare yourself adequately; it’s crucial.

In the beginning, one of the first professionals you should confer with is a Tax professional. This person can view your company in its totality and then match your company’s needs with the proper tax plan. It is an accepted belief that proper tax planning is the primary step to a successful business. Upon properly identifying your needs, it’s now time to strategize your method of operation. To assist you with that method, we’ve compiled a simple list of the advantages and disadvantages of leasing equipment versus that of buying it. This list is generic but reveals the industry norms of features and benefits. As you review, apply these characters to your business and see how it measures up. Good luck!

Own

1. When you decide what equipment to use, you are of course purchasing it. The equipment is yours to do with as you please.

2. By purchasing the equipment, you have immediately created an asset to your company profile.

3. Depending on what your equipment is and how your company is structured; you may be entitled to certain tax benefits such as writing off the expense in the first year. (Check with a tax professional)

4. There are no payments. (You own it.)

5. Now that you own the equipment, you have the option to resell it. (At a lesser price)

Lease

1. The first benefit is that if you don’t have the reserves to purchase, a lease is a viable option.

2. If you were going to purchase with a bank loan, then the bank would likely require a 20% down payment. By leasing the equipment, the standard is that you are required one or two month’s payment upfront and that’s it.

3. Although you are leasing the equipment, it is still an asset to your company.

4. Even though you have a monthly payment, you also have the option to upgrade the equipment prior to it becoming obsolete.

5. When you acquire assets, you want assets that will appreciate in value not depreciate. With many equipment materials needed to function, they will depreciate after the first year of usage.

6. By leasing all of your equipment, you may be able to fully write-off up to 100% of your payments as a business expense. (Check with a tax professional.)

7. Most items can be leased such as phones, furniture and computers, not just heavy machinery.

8. Choosing a lease allows you the flexibility to maintain capital reserves for payroll and miscellaneous expenses that may occur.

9. There are numerous types of leases that can cater to your business profile and your company’s needs.

10. Lease rates are ‘fixed’ and range in term from 12 to 60 months.

As you can see, the features of leasing far outweigh that of purchasing or owning the equipment for many businesses. Eight out of ten businesses prefer leasing over that of buying. The list you just reviewed points out the key components to both options but with further investigation, you’ll find that leasing offers many more opportunities to fulfill your desires.

Please speak with an equipment leasing professional to locate the proper lease for your company. It’s good business!

J. R. Parler

JRParler@yahoo.com

Commercial Real Estate and Finance Specialist

Leases are also know the payment of the depreciation which means the monthly payment usually matches the depreciation on the asset. Let’s look at a real example; this calculation is taken on December 24, 2009 from www.Honda.ca.

A 2010 Civic DX-G automatic transmission’s M.S.R.P is ,780 with FRI/PDI at ,395, there are additional costs such as air condition tax of 0, making it to be ,275 before G.S.T and P.S.T. On the road the price will be ,040

Now, the above example will be a “cash purchase” scenario, without any manufacture’s incentive or dealer discounts, same scenario taken to a lease will cost you the consumer 5 per month before taxes, or 2 per month total. That is with 0 down payment for 48 month and lease rate of 3.9%. So how much would you have spent in 48 month? 2 x 48 = ,456. The buy back value or “residual” value is ,890 before taxes, or ,175 after taxes. Adding together all the cost involved in this type of transaction, your total amount spent on the vehicle would be ,631.  Which is ,591 higher than cash purchase option. That ,591 would be the cost of your lease, assuming you have bought out the vehicle at the end of your lease. Not to mention if you didn’t purchase this vehicle it would cost even less.

Financing in this case would be 9 per month also for 48 month term with 0 down payment. 9 x 48 = ,392 in total which makes it ,352 higher than cash purchase option. The ,395 would be your cost of finance over 48 month terms. However the things to consider would be the monthly payment of finance is 63% higher compare to the lease payment. And interesting enough if you take the different of the two payments 529 – 322 = 207 and multiply the difference over 48 months you get 36. Hey that is awfully similar to your buy out amount right?

So in conclusion if you had the choice to “own” a vehicle via financing, but be careful with the word “own” not until you paid off the entire loan than you truly own the vehicle. But paying close to double the amount in monthly payments. Or you can “lease” a vehicle for a lot less, and a chance for you to return it at the end of your lease without hassle. You can pick the best option for yourself based on your current situation.

This article is brought to you by Ontario Credit Solutions, we specialize in the area of used vehicle financing, and used car sales in Whitby, Durham and Oshawa area for more information please visit us online at http://www.ontariocreditsolutions.com or http://www.badcreditcarloanstoronto.ca

Let’s look a little closer at comparing leasing car versus buying an automobile. There’s no right answer. Both options have their own advantages and disadvantages. Your personal and financial situation will be a major factor in the decision.

What can you afford? Are you confident that your employment is stable? All things considered, are you in good financial shape. If you need a lower monthly payment, consider that the monthly lease payment is less than the payment on an auto loan. However, if a sense of ownership is important to you and you do have the cash available to make the required down payment and pay the sales taxes, you should look closely at purchasing a car.

Back to the question of leasing car versus buying. If you find you really need or want a luxury car, but can’t cover the costs of purchasing a car, leasing one may be your only other choice. Again, let’s go back and re-examine what could be high and unexpected costs associated with a lease. If you turn the car in early, miss a payment, exceed the contracted mileage or put excessive wear and tear on the car, you could find yourself facing major financial penalties and putting your credit rating in jeopardy. If you do decide to lease, make sure your budget takes the monthly payment into consideration for the length of the lease.

Of course, there’s still the factor of lifestyle. Do you really want to own the vehicle? Or, are you happier, turning in a vehicle for a new one on a fairly regular basis. How long do you intend to own the car? If you’re going to be keeping the car for several years, you will probably be better off purchasing the car, negotiating for the best possible financial terms. If you’ll be keeping the car for only two or three years, leasing might be a better option.

Then there’s the question of mileage. If you’re going to be driving a car under 12,000 or so miles a year, leasing may be the better way. Most lease contracts do have limited mileage and the contracts contain substantial penalty clauses for over mileage. Where you drive can be important. If you’re in an environment that simply puts a lot of wear and tear on your car (rough roads, cracked windshields, dings in paint and so forth) you may have to reconsider leasing.

All in all, consider the choice between leasing car versus buying carefully. Weigh all the choices and costs and be sure that no matter which way you decide, that you can afford those monthly payments.

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