CFPB Outlines Guiding Principles for Faster Payment Networks

CFPB Wants to Ensure Consumer Protections Are Built Into New Payment Systems From Outset

Today the Consumer Financial Protection Bureau (CFPB) outlined guiding principles for protecting consumers as the private sector develops new faster payment systems. These new systems are aimed at reducing “pocket-to-pocket” payment times between consumers and businesses or other entities. The CFPB wants to ensure any new payment systems are secure, transparent, accessible, and affordable to consumers. The systems should also have robust protections when it comes to fraud and error resolution.

“Companies developing new financial technologies should be building systems from the outset with consumer protections in mind,” said CFPB Director Richard Cordray. “It is a lot easier to build something right from the start than it is to retrofit it. The CFPB will continue our work to help ensure that financial services marketplaces are safe and transparent for consumers.”

When making payments today, consumers generally have multiple options which include providing cash, writing a check, swiping a credit or debit card, and entering information online for an electronic payment. In general, non-cash payments are primarily processed through one or a combination of payment systems, including the automated clearing house (ACH), PIN debit, the credit card network, wire network, or check services. For these non-cash payments, there can be a delay of several hours to several days between the time a consumer initiates a transaction and the party to be paid actually receives the money. And all existing payment systems – including those that involve the exchange of cash – expose consumers to some risk of loss or security, including in some cases, risks of unauthorized or fraudulent debits.

Payment system participants, including payers, payees, providers, institutions, and operators, are subject to rules and regulations that specify how the payment system works and ensure consistency and predictability to all parties involved. Generally, payment networks are governed by a combination of operator rules, private network rules, and government regulation. Operators have rules for the banks and other entities that connect to and use their respective networks. Payment system participants are also subject to a number of federal regulations, such as the Electronic Fund Transfer Act.

While American consumers benefit from and make use of these payment systems, there remain opportunities to improve efficiency, reduce transaction costs for consumers, and reduce credit and fraud risks. There is also greater opportunity for consumers to have real time information about their account balances so they can know when they do and do not have funds to transact.

Companies in the technology and finance fields are currently developing real-time or near real-time payment systems for the United States. Regulators, the financial services industry, and consumer groups are all contributing and weighing in. The CFPB wants to ensure that consumer protections are at the forefront as new and improved payment systems are developed. The protections recommended in today’s Consumer Protection Principles relate to privacy, transparency, costs, security, and consumer control. They also relate to funds availability, fraud and error resolution protections, and payment system accessibility.

The outline of Consumer Protection Principles is available at: http://files.consumerfinance.gov/f/201507_cfpb_consumer-protection-principles.pdf

The Federal Reserve Board and other prudential regulators – including the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the National Credit Union Administration, and state banking commissions – all regulate payment networks to combat money laundering and to ensure the safety and soundness of payment system participants. Other federal agencies, such as the Federal Trade Commission, also play a role in this space. Notably, the Federal Reserve has been engaged in an ongoing initiative to improve payment systems. A recent statement about that effort noted that among other objectives, the process would work “with payment stakeholders to identify effective approach(es) to implementing a U.S. payments infrastructure to support a safe, ubiquitous, faster payments capability that promotes efficient commerce, facilitates innovation, reduces fraud and improves public confidence.”

CFPB Cautions Military Lenders Against Illegal Military Allotment Practices

Bureau Puts Companies On Notice After Defense Department Rules Take Effect

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) sent letters this month to several companies that sell retail goods to military servicemembers, advising them to review their websites and other advertising for potentially misleading marketing and to review other practices related to payment by military allotment. Active-duty servicemembers are not permitted to use allotments to pay for personal property such as vehicles, appliances, and consumer electronics. The CFPB is concerned that companies that are still advertising repayment by way of military allotment may potentially be violating federal consumer financial protection laws.

“Companies that are still advertising repayment via military allotment may be violating the law,” said CFPB Director Richard Cordray. “Companies should give consumers accurate and reliable information so they can make the best decisions for their own financial situations. We will continue our work protecting servicemembers and promoting a fair and transparent marketplace for all consumers.”

The military discretionary allotment system allows servicemembers to automatically direct a portion of their paycheck to financial institutions or people of their choosing. However, military personnel using the allotment system instead of other automatic payment options like ACH (Automated Clearing House) can end up losing out on certain legal protections.

To better protect servicemembers, the Department of Defense announced changes to the allotment system last year. The updated regulations, which took effect in January, prohibit new allotments to purchase, lease or rent personal property such as vehicles, appliances and consumer electronics. The regulations do allow allotments made for the purpose of savings, insurance premiums, mortgage or rent payments, support for dependents, or investments. Military retirees and Department of Defense civilian employees were not affected by the changes.

Offering servicemembers misleading information about payment options and allowing servicemembers to pay by allotment when prohibited by the Department of Defense regulations could violate the Dodd-Frank Wall Street Reform and Consumer Protection Act’s prohibition against unfair, deceptive, or abusive acts or practices in consumer financial products or services. The Bureau will continue to look out for the interests of servicemembers and ensure compliance with all applicable federal consumer financial laws and regulations.

The letters advise the recipients that their advertisements may violate federal law, and that they should review their advertising and practices relating to military allotments. However, the Bureau’s letters are not a finding or ruling that the recipients have actually violated the law.

The CFPB has taken multiple actions to enforce consumer financial protection laws against entities whose businesses were largely premised on receiving payments from servicemembers, often through the military allotment system. In those actions, the CFPB has recovered over $100 million for thousands of consumers.

CFPB Orders Discover Bank to Pay $18.5 Million for Illegal Student Loan Servicing Practices

Discover’s Illegal Servicing Practices Affected Private Student Loan Borrowers Transferred from Citibank

 Today the Consumer Financial Protection Bureau (CFPB) took action against Discover Bank and its affiliates for illegal private student loan servicing practices. The CFPB found that Discover overstated the minimum amounts due on billing statements and denied consumers information they needed to obtain federal income tax benefits. The company also engaged in illegal debt collection tactics, including calling consumers early in the morning and late at night. The CFPB’s order requires Discover to refund $16 million to consumers, pay a $2.5 million penalty, and improve its billing, student loan interest reporting, and collection practices.

“Discover created student debt stress for borrowers by inflating their bills and misleading them about important benefits,” said CFPB Director Richard Cordray. “Illegal servicing and debt collection practices add insult to injury for borrowers struggling to pay back their loans. Today’s action is an important step in the Bureau’s work to clean up the student loan servicing market.”

Discover Bank is an Illinois-based depository institution. Its student loan affiliates – The Student Loan Corporation and Discover Products, Inc. – are also charged in today’s action. Beginning in 2010, Discover expanded its private student loan portfolio by acquiring more than 800,000 accounts from Citibank. As a loan servicer, Discover is responsible for providing basic services to borrowers, including accurate periodic account statements, supplying year-end tax information, and contacting borrowers regarding overdue amounts.

Student loans make up the nation’s second largest consumer debt market. The market has grown rapidly in the last decade. Today there are more than 40 million federal and private student loan borrowers and collectively these consumers owe more than $1.2 trillion. The market is now facing an increasing number of borrowers who are struggling to stay current on their loans. Earlier this year, the Bureau revealed that more than 8 million borrowers were in default on more than $110 billion in student loans, a problem that may be driven by breakdowns in student loan servicing. While private student loans are a small portion of the overall market, they are generally used by borrowers with high levels of debt who also have federal loans.

Today’s action demonstrates how Discover failed at providing the most basic functions of adequate student loan servicing for a portion of the loans that were transferred from Citibank. Thousands of consumers encountered problems as soon as their loans became due and Discover gave them account statements that overstated their minimum payment. Discover denied consumers information that they would have needed to obtain tax benefits and called consumers’ mobile phones at inappropriate times to contact them about their debts. The CFPB concluded that the company and its affiliates violated the Dodd-Frank Wall Street Reform and Consumer Protection Act’s prohibitions against unfair and deceptive acts and practices, and also the Fair Debt Collection Practices Act. Specifically, the CFPB found that the company:

• Overstated the minimum amount due in billing statements: Discover overstated the minimum amount due for certain borrowers who were just starting to pay off their student loan debts. The minimum payment due incorrectly included interest on loans that were still in deferment and were not required to be paid. For some borrowers this overpayment meant diverting payments from other expenses; for others it meant not paying at all because they thought they could not come close to making the full payment and instead accrued associated penalties.

• Misrepresented on its website the amount of student loan interest paid: The tax code permits taxpayers to deduct student loan interest paid during the year under certain conditions. Servicers are required to provide borrowers with a statement specifying how much the borrower paid in interest, if it was more than $600. Discover did not provide the Citibank private student loan borrowers with the customary tax information form it provided to its other borrowers, unless those borrowers submitted certain paperwork. For those borrowers who did not submit that additional form, their online interest statements on Discover’s website in 2011 and 2012 reflected $0.00 in interest paid. Discover did not explain that the borrowers were required to fill out a form to get the correct amount of interest they paid. This zero interest statement was likely to mislead consumers into believing that they did not qualify for the student loan tax deduction, potentially causing consumers to not seek important tax benefits.

• Illegally called consumers early in the morning and late at night, often excessively: Discover placed more than 150,000 calls to student loan borrowers at inappropriate times – before 8 a.m. and after 9 p.m. in the borrower’s time zone. Discover learned about these violations in October 2012 but failed to address the problem until February 2013.

• Engaged in illegal debt collection tactics: Discover acquired a portfolio of defaulted debt from Citibank but failed to comply with the consumer notices required by federal law. For example, the company failed to provide consumers with specific information about the amount and source of the debt and the consumer’s right to contest the debt’s validity. That information must be provided during the debt collector’s initial communication or in a written notice immediately following that initial communication.

Enforcement Action

Under the Dodd-Frank Act, the CFPB has the authority to take action against institutions engaging in unfair, deceptive, or abusive practices. Among the terms of the consent order filed today, Discover must:

• Return $16 million to more than 100,000 borrowers: Specifically, Discover will:
  
  • Provide an account credit (or a check if the loans are no longer serviced by Discover) to the consumers who were misled about their minimum payments in an amount equal to the greater of $100 or 10 percent of the overpayment, up to $500. About 5,200 victims will get this credit;
  • Reimburse up to $300 in tax preparation costs for consumers who amend their 2011 or 2012 tax returns to claim student loan interest deductions. For consumers who do not participate in this tax program or did not take advantage of earlier ones offered by the company, Discover will issue an account credit of $75 (or a check if their loans are no longer serviced by Discover) for each relevant tax year. About 130,000 victims will receive this relief; and
  • Provide account credits of $92 to consumers subjected to more than five but fewer than 25 out-of-time collection calls and account credits of $142 to consumers subjected to more than 25 calls. About 5,000 victims will receive these credits.

• Accurately represent the minimum periodic payment: Discover cannot misrepresent to consumers the minimum periodic payment owed, the amount of interest paid, or any other factual material concerning the servicing of their loans.

• Send clear and accurate student loan interest and tax information to borrowers: Discover must send borrowers the IRS W-9S form that it requires them to complete to receive a form 1098 from the company, and it must clearly explain its W-9S requirement to borrowers. Discover must also accurately state the amount of student loan interest borrowers paid during the year.

• Cease making calls to consumers before 8 a.m. or after 9 p.m.: Discover must contact overdue borrowers at reasonable times. This will be determined by the time zone of the consumer’s known residence or phone number, unless the consumer has expressly authorized Discover to call outside these hours.

• Pay $2.5 million civil penalty: Discover will pay $2.5 million to the CFPB’s Civil Penalty Fund.

Meredith Fuchs Named Acting Deputy Director of the Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) today announced that Meredith Fuchs will serve as Acting Deputy Director when Deputy Director Steve Antonakes departs the agency at the end of July. Antonakes currently serves as both Deputy Director for the Bureau and Associate Director for the Division of Supervision, Enforcement, and Fair Lending. Earlier this month Fuchs announced her intention to step down as General Counsel, but she will continue to serve as General Counsel and Acting Deputy Director until a permanent replacement is selected for each position. David Bleicken, Deputy Associate Director for Supervision, Enforcement, and Fair Lending, will serve as Acting Associate Director for that division while a search for a replacement is conducted.

“Steve has been an enormous asset to the Bureau, and a great friend and colleague to me since the early days of the agency,” said CFPB Director Richard Cordray. “His contributions to this agency have been extensive in his dual roles as Deputy Director and Associate Director of Supervision, Enforcement, and Fair Lending and he will be sorely missed. Meredith’s experience and vision have helped build the Bureau since before we opened our doors, and I could not be more pleased that she has agreed to take on the role of Acting Deputy Director. I am deeply grateful to Steve and Meredith for their contributions to the CFPB and the American public we serve.”

Steve Antonakes

Steve Antonakes’ background includes more than two decades as a financial services regulator. He first joined the CFPB in November 2010 as the Assistant Director of Large Bank Supervision and was named the Associate Director for Supervision, Enforcement, and Fair Lending in June 2012. Antonakes began his professional career as an entry level bank examiner with the Commonwealth of Massachusetts Division of Banks in 1990. He served in numerous managerial capacities before being appointed by successive Governors to serve as the Commissioner of Banks from December 2003 until November 2010, becoming only the second career bank examiner to ever serve in that capacity. In addition, he served as the first state voting member of the Federal Financial Institutions Examination Council (FFIEC), as the Vice Chairman of the Conference of State Bank Supervisors (CSBS), and as a founding member of the governing board of the Nationwide Mortgage Licensing System (NMLS). Antonakes also received NeighborWorks America’s Government Service Award for his work in combatting foreclosures in March 2007. Antonakes received a Bachelor of Arts degree from Penn State University, a Masters of Business Administration from Salem State University, and a Doctorate of Philosophy in Law and Public Policy from Northeastern University.

Meredith Fuchs

Meredith Fuchs, who will now serve as Acting Deputy Director, is currently the General Counsel of the CFPB. She joined the Bureau in 2011 as Principal Deputy General Counsel before serving as Chief of Staff to CFPB Director Richard Cordray. Prior to joining the CFPB, she served as Chief Investigative Counsel of the United States House of Representatives Committee on Energy and Commerce. Previously, Ms. Fuchs held positions as Vice President and General Counsel of the National Security Archive at George Washington University, a litigation partner in private practice, the Supreme Court Assistance Project Fellow at the Public Citizen Litigation Group, and an officer on the D.C. Bar Board of Governors. She is the recipient of the American Library Association’s James Madison Award. Ms. Fuchs served as a law clerk for Judge Patricia M. Wald on the D.C. Circuit Court of Appeals and Judge Paul L. Friedman on the United States District Court for the District of Columbia. She is a graduate of the New York University School of Law and the London School of Economics and Political Science.

David Bleicken

David Bleicken, who will now serve as Acting Associate Director for the Division of Supervision, Enforcement and Fair Lending, is currently the Deputy Associate Director for that division. He joined the Consumer Bureau in June 2011 as counsel to Steve Antonakes in his capacity as Assistant Director for Large Bank Supervision. Prior to that, Mr. Bleicken was the Deputy Secretary of Banking for Non-Depository Institutions and Consumer Services at what is now known as the Pennsylvania Department of Banking and Securities. He is a graduate of the Beasley School of Law at Temple University and Carleton College.

CFPB Takes Action Against Mortgage Payment Company And Servicer For Deceptive Ads

The Consumer Financial Protection Bureau (CFPB) took action today against Paymap Inc. and LoanCare, LLC for deceiving consumers with advertisements for a mortgage payment program that promised tens of thousands of dollars in interest savings from more frequent mortgage payments. Under the terms of the orders announced today, Paymap will return $33.4 million in fees to consumers and pay a $5 million civil penalty to the CFPB, and LoanCare will pay a $100,000 civil penalty.

“Deceptive advertising has no place in the financial marketplace,” said CFPB Director Richard Cordray. “Today’s action is delivering relief for consumers deceived by Paymap and LoanCare, and sending a clear message that these practices will not be tolerated.”

Paymap Inc. is a Colorado-based payment processing company, and LoanCare Servicing is a Virginia-based residential mortgage servicer. Together, they marketed and provided the “Equity Accelerator Program” – an electronic payment system that enables consumers to make automatic mortgage payments via electronic debits from their bank accounts. Consumers are typically charged an enrollment fee of $295 when signing up for the Equity Accelerator Program, and a transaction fee for each automatic debit that Paymap makes, typically $2.50. Since July 21, 2011, approximately 125,000 consumers enrolled in the Equity Accelerator Program and paid Paymap $33.4 million in fees.

Paymap partnered with many mortgage servicers, including LoanCare, to market the Equity Accelerator to the mortgage servicers’ customers. LoanCare and Paymap marketed the Equity Accelerator to LoanCare’s customers in 2012 by sending them solicitations on LoanCare’s letterhead. Like the other servicers it partnered with, Paymap shared a portion of consumers’ fees with LoanCare.

Paymap and LoanCare advertised that consumers who enrolled in the Equity Accelerator Program would have a new, biweekly payoff schedule that would lead to significant interest savings because of the more frequent payments. In fact, the Equity Accelerator Program did not make more frequent payments on consumers’ mortgages, and, Paymap’s prominent claims of tens of thousands of dollars in interest savings were made without any supporting evidence.

The CFPB found that Paymap and LoanCare violated the Dodd-Frank Wall Street Reform and Consumer Protection Act’s prohibition against deceptive acts and practices. Specifically, the Bureau found that consumers were:

• Lured with deceptive promises of savings: Paymap made claims on its website such as, “The average customer will achieve over $33,000 in interest savings” using the Equity Accelerator Program. However, Paymap had no factual basis to support this claim. Moreover, only a tiny percentage, if any, of its customers achieved that amount of interest savings.

• Misled about when their payments would be applied: Paymap and LoanCare told consumers in their direct mail solicitations that enrolling in the Equity Accelerator Program would change the consumers’ payoff schedule to “every 2 weeks.” Although Paymap makes more frequent withdrawals from consumers’ accounts in the Equity Accelerator Program, it does not actually make more frequent payments on consumers’ mortgages. Instead, Paymap holds the collected payments in custodial accounts, and then pays consumers’ mortgages on their original monthly schedule. Consumers are charged a transaction fee with every withdrawal. Any interest savings that consumers may achieve through the Equity Accelerator Program is because they make a higher annual mortgage payment in the Program, using the same payment schedule as before enrollment.

Enforcement Actions

Pursuant to the Dodd-Frank Act, the CFPB has the authority to take action against companies engaging in unfair, deceptive, or abusive practices in the consumer financial marketplace.

Under the terms of the consent order filed today, Paymap is required to:

• Pay $33.4 million to consumers: Paymap will return $33.4 million to consumers, which represents all fees paid by every consumer who enrolled in the Equity Accelerator Program since July 21, 2011. Approximately 125,000 consumers will receive refunds.

• Cease its unlawful advertising and marketing practices: Paymap must ensure that its marketing practices comply with federal law. Paymap is prohibited from advertising any benefits of the Equity Accelerator Program without credible evidence to support its claims, and from implying that the program will change a consumer’s regular mortgage payment schedule. Paymap must disclose that the source of any projected interest savings through the program is the higher annual mortgage payment a consumer will make in such a program.

• Pay a $5 million civil penalty: Paymap will pay $5 million to the CFPB’s Civil Penalty Fund.

Under the terms of the consent order filed today, LoanCare is required to:

• Cease its unlawful advertising and marketing practices: LoanCare must ensure that its marketing practices comply with federal law. LoanCare is prohibited from advertising any benefits of the Equity Accelerator Program without credible evidence to support its claims, and from implying that the program will change a consumer’s regular mortgage payment schedule. LoanCare must disclose that the source of any projected interest savings is the higher annual mortgage payment a consumer will make in such a program.

• Pay a $100,000 civil penalty: LoanCare will pay $100,000 to the CFPB’s Civil Penalty Fund.

BlackBerry Annual and Special Meeting Webcast on June 23rd, 2015

NASDAQ: BBRY; TSX: BB  will hold its Annual and Special Meeting of Shareholders on Tuesday, June 23rd, 2015 at 10am ET in Waterloo, Ontario. The live webcast can be listened to on June 23rd at http://ca.blackberry.com/company/investors/events.html.

About BlackBerry

A global leader in mobile communications, BlackBerry® revolutionized the mobile industry when it was introduced in 1999. Today, BlackBerry aims to inspire the success of our millions of customers around the world by continuously pushing the boundaries of mobile experiences. Founded in 1984 and based in Waterloo, Ontario, BlackBerry operates offices in North America, Europe, Asia Pacific and Latin America. BlackBerry is listed on the NASDAQ Stock Market (NASDAQ: BBRY) and the Toronto Stock Exchange (TSX: BB). For more information, visit www.blackberry.com.

BlackBerry Annual and Special Meeting Webcast on June 23rd, 2015

A global leader in mobile communications, BlackBerry® revolutionized the mobile industry when it was introduced in 1999. Today, BlackBerry aims to inspire the success of our millions of customers around the world by continuously pushing the boundaries of mobile experiences. Founded in 1984 and based in Waterloo, Ontario, BlackBerry operates offices in North America, Europe, Asia Pacific and Latin America. BlackBerry is listed on the NASDAQ Stock Market (NASDAQ: BBRY) and the Toronto Stock Exchange (TSX: BB). For more information, visit www.blackberry.com.

BLACKBERRY ANNOUNCES COMMON SHARE PURCHASE PROGRAM

June 25, 2015 - BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a world leader in mobile communications, today provided an update on its planned share repurchase program to purchase for cancellation up to 12 million BlackBerry common shares, or approximately 2.5% of the outstanding public float. BlackBerry can purchase the common shares over the Nasdaq Stock Market or, subject to regulatory approval, on the Toronto Stock Exchange (the “TSX”) or alternative Canadian trading platforms. As of June 22, 2015, BlackBerry had 529,487,374 common shares outstanding, the public float was 464,726,304 common shares and the average daily trading volume for the 6 months prior to May 31, 2015 was 2,314,477. BlackBerry has filed a notice of intention to commence a normal course issuer bid with the TSX. Daily purchases will be limited to 578,619 common shares, other than block purchases. The purchases may commence on June 29, 2015 and will terminate on June 28, 2016 or on such earlier date as BlackBerry may complete its purchases pursuant to the notice of intention. In the past 12 months, BlackBerry has not repurchased any of its outstanding securities.

On June 23, 2015, the shareholders of BlackBerry approved a new employee share purchase plan and an increase in the number of shares available under BlackBerry’s equity incentive plan. “As we’ve previously indicated, the purpose of this repurchase program is to offset dilution from our new employee share purchase plan and amended equity incentive plan,” said BlackBerry Executive Chairman and CEO, John Chen. “We intend to take advantage of our strong cash position to purchase our shares when the market price does not reflect what we view to be the underlying value and future prospects of our business, without adversely affecting our strategic initiatives,” added Mr. Chen.

The price that BlackBerry will pay for any shares under the share repurchase program will be the prevailing market price at the time of purchase. The share repurchase program will be effected in accordance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934 and the TSX’s normal course issuer bid rules, which contain restrictions on the number of shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes of BlackBerry’s shares on the applicable exchange. In addition, subject to TSX approval, BlackBerry may enter into forward purchase or swap contracts in connection with common shares which may be settled by physical settlement, cash settlement or a combination thereof. The forward price will be based on market price, dividend yield and market interest rates.

The actual number of shares to be purchased and the timing and pricing of any purchases under the share repurchase program will depend on future market conditions and upon potential alternative uses for cash resources. There is no assurance that any shares will be purchased under the share repurchase program and BlackBerry may elect to modify, suspend or discontinue the program at any time without prior notice.

About BlackBerry

BlackBerry is one of the world's most trusted and leading providers of technology platforms for secure productivity. Founded in 1984 and based in Waterloo, Ontario, BlackBerry operates offices in North America, Europe, Asia Pacific and Latin America. The company trades under the ticker symbols "BB" on the Toronto Stock Exchange and "BBRY" on the NASDAQ. For more information, visit www.blackberry.com.

LEXUS HOVERBOARD RIDE REVEALED

LEXUS HOVERBOARD RIDE REVEALED

New film for the latest Amazing in Motion campaign shows final testing in Barcelona

TOKYO, August 05, 2015/PR Newswire - Following the unveiling of the Lexus Hoverboard in June, the luxury automotive company is completing a full and final reveal of the project concluding a successful testing phase which took place in Cubelles, Barcelona.
Mark Templin, Executive Vice President at Lexus International said: “Embarking on this project, we set out to push the boundaries of technology, design and innovation to make the impossible possible. With this project we call ‘SLIDE’, we collaborated with partners who share our passion for creating enjoyment out of motion. Even through combining our technology and expertise, we discovered making a hoverboard isn’t an easy process. We’ve experienced the highs and lows and have overcome a few challenges, but through mutual determination we have created a demonstration of our philosophy in design and technology to create Amazing in Motion.”
The Lexus Hoverboard project began 18 months ago through a collaboration with a team of scientists from IFW Dresden and evico GmbH, who specialize in magnetic levitation technology. Following extensive testing with pro skateboarder and hoverboard test rider Ross McGouran, in Dresden, Germany, the team were determined to push the hoverboard to its limits and conduct further tests within dynamic surroundings. 
"I've spent 20 years skateboarding, but without friction it feels like I've had to learn a whole new skill, particularly in the stance and balance in order to ride the hoverboard. It's a whole new experience,” said pro skateboarder and hoverboard test rider Ross McGouran.
Since the Lexus Hoverboard was unveiled in June, testing has been carried out in a specially constructed hoverpark, combining elements from skate culture with technology within its architecture. Up to 200 meters of magnetic track was transported to Barcelona from the Dresden facility to lay beneath the hoverpark surface in order to create the dynamic test, offering Lexus the opportunity to demonstrate tricks no skateboard could ever perform, like travelling across water. Lexus has captured the final ride footage and released it as a film led by award winning director Henry-Alex Rubin.
The Lexus Hoverboard technology features two “cryostats”—reservoirs in which superconducting material is kept at -197 degrees through immersion in liquid nitrogen. The board is then placed above a track that contains permanent magnets. Dr. Oliver de Haas, evico CEO, said: “The magnetic field from the track is effectively ‘frozen’ into the superconductors in the board, maintaining the distance between the board and the track—essentially keeping the board hovering. This force is strong enough to allow the rider to stand and even jump on the board.”
The Lexus Hoverboard film called “SLIDE” features the high performance GS F and is part of the fourth project in the Lexus “Amazing in Motion” campaign series that showcases creativity and innovation from the Lexus brand.

Credit Repair Options

The credit repair company tells you to pay up front for their services even in the event that they have not done anything yet. The law states that they can only be paid after they have done their part in helping you repair your credit. 

On reviewing the contract, it ought to be indicated there how much money you will be charged for their services, the services they will offer, the date by which this will be done as well as the name & address of the organization. There ought to even be a clause in the contract telling that you can cancel the contract within days.

In the event that they promise that they can remove anything in your credit document. If this is impossible, they might even say that they will help you generate a used federal employer identification number which of work is illegal.

Finally, the credit repair agency gives you a piece of paper which you need to sign stating that you waive your rights under the CROA or Credit Repair Organization Act.

There is positive things that a credit repair company can do & improving your credit score from their finish is not of them. This is something that you need to do yourself because you are the that owes your creditors the money.

All they can do is facilitate a deal that is lovely for both parties like a debt consolidation plan which you need to fulfill.

If it so happens that the credit repair agency has asked for payment up front, not informed you for your rights as a consumer, need you to waive your rights or tell you to do anything illegal, walk away & document them to the authorities. After that, continue looking for a legitimate credit repair company.

Ought to the information said in your credit document be wrong, again there is nothing you can do because you are the that has the supporting documents which show these issues have been resolved. You may not even need the help of a credit repair agency because you can send a letter together with the documents to the crediting agency.

To tell if this company is a scam or not, you can also check with the Better Business Bureau & any other agencies in your area which are responsible for stopping such things to happen. No wishes to be come a victim but when you desperately need credit repair, it is feasible. Http://creditrepair.dataforcee.us

Understanding the concepts and benefits of online merchant services

Technology has made the world more compact. Different trading agencies and business organizations are able to sell their goods and services to varied customers all over the world. A phenomenon like commercial services can carry on their transactions online with a safe payment gateway. In this article we will try and understand the concept of online commercial services and the benefits that it provides to both the customers and the trading organizations. Those of who are interested to know more about such a technology can browse through the underlined paragraphs.


An overview:
Online merchant services are such services which are used by the business organizations for a particular purpose. It helps the commercial entities to accept online payments through credit and debit cards through a secured payment portal. But such a commercial service isn't restricted to just credit card or debit card transactions. It also has varied varieties like,

• Check transformation services and check assurance
• Drafting and expense services and computerized  check clearance
• Gift card and reliability programs
• Payment doorway
• Progress of merchant cash
• Online monetary transaction dispensation
• Point of sale systems
• Electronic assistances handover programs, like food stamps or ration stamps.

The benefits it provides:
There are different benefits of using online merchant services. Here are some of the benefits to roll through.

• The money paid by the customers through online transaction goes directly to the bank with the account of the merchant within a couple of days of the transaction. Whereas, using any other medium takes much time until it is transferred to the consumer's bank account and takes more than a week to do so. It affects the business in a long run and the transaction as a whole.
• It saves a lot of money for any merchant account. The merchant accounts have a set monthly rate of a kind of transaction and it doesn't goes up and down. Whatever, be the volume of transaction high or low the merchant account holder always reaps profit from it.
• A merchant account elevates the reputation of the business. Once a transaction is completed the customer doesn't leave the website of the respective company and this in turn keeps the name of the company attached to the credit card bill later paid.
• Opting for a commercial service assures a better customer service compared to any other alternative. If any extra charge or fee is added for a quick transaction, then it is delivered in no time. There are fewer issues when an individual chooses an online commercial service.
• If you are business who has high volume of transaction daily then merchant account is the best possible resolve for you. It will not only save you money, but will also provide great tractability and a better consumer administration.

There are different banks who offer such services for different business concerns. There is no hard and fast rule that large business can only have merchant accounts it is also great for small business.

Hotel credit card processing- How it works

Now-a-days more and more people have started to book their stay in hotels before they even start with their holiday or vacation plans.Credit card processing facilities in hotels have become a most important tool that every hotel business should have. In this article we will go through the need and workings of hotel credit card dispensation. Those who are interested can roll your eyes to the hereinafter information.
The need of such an innovation:
Travelers in the recent times have inclined towards the need of getting the hotel booked before the tickets to any destination. Such online bookings are only possible if transactions are made on the basis of credit cards. Having a credit card payment policy makes more and more customers flock into the hotels. Getting a room booked is compared easy to paying through cash. As a traveler nobody likes to get a bundle of cash after the tiring journey instead they prefer a swift resolution of cash through a swift swipe. The Hotel credit card processing facility is safer and less prone to fraudulent transaction.
Things to remember before you opt for such service:
To get a better understanding of such a facility it is important to know how it works and the requisites that is to be fulfilled. Here is a preview to such a solution:

• To start a Hotel credit card processing facility the foremost need is to get a merchant service that will provide you with the portal to open an account and start such a transaction facility.
• It is best to start with a local bank to open up a account, as it is easy to keep track until you are used to with such a facility.
• Normally, the fees that such bank offers for a merchant account depends on the plan you choose. Whatever be the transaction you will have to pay a fixed amount for the same.
• It is very important to understand what type of transactions goes around your business, because if your business is small and it only has few guests every month than you could opt for that account where you have to pay for each transaction.

How does it work?
There are different web based services online that offer suchhotel credit card dispensation facility. The online concern has a front desk, where the proxy asks for the guest's, card number, details, expiry date and the bill amount for the services opted for but including charge for the stay of the guest. The payment opening recognizes which lodging house is transferring the data and frontwards the particulars to the card workstation. The card mainframe in turn connects with the card receptacle's bank to perceive if the sum is accepted or not.
The banks initiate the accepting and deducting procedures and direct a realization text back to the expense opening and then to the front desk. If the payment is failed to be accepted then failure notification is forwarded.

Top Benefits of a Prepaid Master Card

Prepaid master card interest is one of the major factors that make it so popular. Since they carry no interest whatsoever, you don't need to worry about spending more than the actual value of a product or service. So if you are looking for a way to make your money transactions simpler and more economical, you should sign up for a prepaid Master Card. To succeed in a competitive business or even in your personal life, it is important that you take proper care of your finances. Having a prepaid card makes it possible to have better control over your money and spending.


What is a prepaid Master Card?
It is used almost like the regular credit card. However it works more like a debit card. With a regular credit card, you don't have to put any money in the card for making any money transaction with it. You can simply use the card for making payments whether it has any balance or not. The amount will be covered by the card company later from your account. In case of prepaid master card however, you need to have money in your account to make money transactions. You can keep depositing additional sum into it anytime. You can use it just like a regular credit card wherever Master card payment is accepted.
Important benefits
There are many benefits a prepaid Master Card that a regular credit card does not offer.
• Safety: You don't have to carry along cash wherever you go. A simple plastic card is all you need to carry to pay for anything. If you lose your cash, there is a dim possibility of getting it back. However, with a prepaid card, it can be reissued keeping your balance amount intact.

• Convenience: In addition to the convenience of not having to carry cash, a prepaid card also offers the facility of withdrawing cash conveniently at an ATM. You can refill the balance in it anytime, making it convenient to operate whenever and wherever you need money.
• Economical: These cards are best for those who want to keep a close watch on their spending and budget their finances. You can spend only what you have on your account already. So no scope for overspending and running into credit card debts. There are also no finance charges or late fees associated with these cards. You can also track your expenditure and based on that plan your spending for an effective budgeting of your finances.
• Helps discipline teens: If you are constantly worried about your teenage kids to spend more than you would want them to, sign them up for a prepaid card and they will automatically learn to spend money within their allowance or budget. You will also have a better control over their spending habits.
As stated in the beginning, the prepaid master card interest is nil and therefore it proves to be a great money-saver. Since it is easy to get as it does not need any credit testing for it to be issued, it can be used to improve your credit ratings.

Causes So that you can Use Accounting Services

A lot of bookkeepers help bookkeeping agencies and also dwelling workplaces that come with bookkeeping administrations to be able to the final population, privately owned businesses or maybe the administration. Insurance plan, your acquiring portion on the bookkeeping return is actually adding up his or her administrations because company industry experts,
assisting corporations and folks to be able to restore his or her financial confirming, dissect personal info along with adhere to new regulations. Your US Office of Job Stats reports the desire intended for bookkeepers along with examiners will go up essentially 16 percentage inside the examples below decade, importance there's however relentless growth in the business. Bookkeeping gurus needs to be leaders inside their field, who is going to supply guidance along with solutions for people following conscious exploration. Learn how to are a bookkeeping specialist.

Counselling is actually the challenge of allowing exhortation to be able to consumers to your impose to assist them manage a specific matter and also scope of troubles inside of a certain location of business. Counselling administrations will be due to gurus, your greater part of who may have obtained his or her expertise from prior occupation. Some gurus help substantial counselling agencies, for example,
Anderson Referring with and also Gemini Referring with, that come with aptitude inside an extensive selection of company regions; diverse agents hail through the scholarly entire world along with guide corporations with troubles, distinguishing with assessment and also speculation; but still diverse industry experts will be at home utilized, personal utilized organizations that supply certain skills inside of a certain field. As an example, a previous stock options service provider may are a income related visiting; your PC analyst may are a PC specialist; a previous staff member inside of a non-benefit relationship may wide open an enterprise like a bringing up support specialist; and a bookkeeper may transform into an amount advisor. Take advantage expert services of Accounting Consultant Melbourne.

Skill by itself is as it may, doesn't make anybody an counsellor at the least not only a full-time one. For being an experienced obliges using that expertise to be able to valuable vital thinking. Counselling, additionally, is actually an enterprise, thus it also obliges featuring aptitudes along with the proportions to get in touch and build work contacts. Take advantage expert services of Accounting Consultant Melbourne.

Since predominant part of agents is actually at home utilized adept staff, counselling generally is a huge company that also includes long periods and far weight. Specialists will have to review his or her job areas of technique consistently to stay current with improvements. For the a lot of entrepreneurs that get into the counselling contacting, then again, your enthrallment along with check of imaginative, autonomous operate done in a agreeable domain extend past your troubles.


Remembering rivalry is actually awesome, the volume of extensive firms that engulf this particular contacting certainly are a few. Even though counselling job areas have finished up drenched, for example, your PC along with natural fields—you will find constantly new patterns rising. By way of example, with the unexpected slip of socialism, a person's eye intended for japanese Western european masters along with "totally free marketplace" gurus soar.

Job opportunities - finance

Another set of positions to search through:

Finance Manager, Sydney

Financial Accountant, Brisbane

Financial Accountant, Gold Coast

Financial Accountant, Melbourne

Financial Accountant, Perth

Financial Accountant, Sydney

Financial Analyst, Melbourne

Financial Analyst, Sydney

Financial Consultant, Brisbane

Financial Consultant, Melbourne

Financial Consultant, Sydney

Financial directors, Brisbane

Financial directors, Melbourne

Financial directors, Perth

Financial directors, Sydney

Job opportunities - finance

In this post you can find important and useful links which will guide you through your job search. Especially if you are a specialist in the field of finances. I have prepared a list of 15 most popular searches amog others, jobs for financial managers, assistants and many more.

Enjoy!

Financial Manager, Sydney

Financial Reporting Manager, Brisbane

Financial Reporting Manager, Melbourne

Financial Reporting Manager, Sydney

Financial Sales Assistant, Adelaide

Financial Sales Assistant, Melbourne

Financial Sales Assistant, Sydney

Financial Services, Adelaide

Financial Services, Brisbane

Financial Services, Canberra

Financial Services, Gold Coast

Financial Services, Melbourne

Financial Services, Newcastle

Financial Services, Perth

Financial Services, Sydney

Buyers are looking for ‘Value for Money' Homes

Buyers are eagerly looking for ‘Value for Money' homes in National Capital Region. They are actively searching for best homes which are planned very well and strategically located. Noida and Gurgaon are the appealing locations for best properties.

Get to know about your options
You will never run out of options while looking for a home in NCR. You will get the every possible option and within reach of everyone in terms of price. Broader range of options is available at Gurgaon and Noida. So, you can pick the best one according to your suitability and pocket size.
Gurgaon- the millennium city
Sector- 82, 83, 89, 90, Sohna Road and Sushant Lok are the locations where you will find the maximum availability of properties. Sector-82 has been populous among buyers due to the price range between Rupees 4, 600 to 6, 200 per square feet. On the other hand Golf Course has grabbed attention of those buyers who want to spend Rupees 12, 000 to 14, 000 per square feet. Most of the properties in above mentioned areas will be ready for possession in the stipulated timeframe of early 2015 to late 2016. Whereas if you are an investor and looking for best localities to earn an additional source of income as rent, then Sector-54, 56, 57, Sushant Lok and DLF city phases rule the chart.       
Noida- one of the most planned cities of Asia

Sector-76, 78, 137, Noida Extension and Greater Noida are the best locations to buy property. Some reputed and tremendous developers have transformed the face of Noida skyline. It made the perfect fit entry to residential property for prospective buyers.  Noida has become the most sought after destination for cosmopolitan culture driven people. In sector-73, you can find studio apartments with price range starting from Rupees 8 Lakhs. And if budget is not a constraint then you can own a 6 BHK flat sprawled over 5, 000 square feet with pocket size of Rupees 6 Crore.
However, infrastructure development is still pending. Schools, hospitals and conveyance need attention. Once the infrastructure development is completed in all respects, it will be most popular destination for end users. Till then you can invest in newly developed sectors of Noida. For higher rental yields you can invest in Sector- 50, 61, 92 and 93. Infra development has now picked up the pace and the builders have started to announce the numerous projects like cats and dogs. In the competitive scenario, Amrapali Group stands as one of the most reputed builders. Recently the group launched terrace homes providing its residents the zone of utmost comfort and style. Amrapali Tropical Garden promises the enticing adobes with joy and happiness.

Trading method that WILL make you money

Do you dream of the day when you wake up, open a few positions and then take the rest of the day off to do whatever you want ? I know how you feel. I once felt exactly the same way.

Then I found this: http://bit.ly/eytjvC
It is 100% mechanical system with clear rules; it places one trade a day in the morning. It doesn't require you to watch your position; the trade hits the profit or loss automatically.
This is excellent because I did not know anything about trading until I found this. It is a step by step for beginners and guarantees income or your money back. You can't go wrong and I got my money back in the first week. Very good method of making money with easy to follow steps just how I like it.
For me, Forex Morning Trade is one of the pillars of my trading systems portfolio. It doesn't take too much time, and it returns profits I can rely on.
I trade also other systems, on different timeframes, but I can honestly say Forex Morning Trade system is my most favorite.

Why? Because it requires virtually no time and no thinking. Trading won't take you more than 5 or 10 minutes a day. Really, this time is enough to check for the signals and set up the trade.
One of its biggest strengths is that the system is 100% mechanical, with clear rules to follow. This is especially important. There will be no more fear or greed in your trading because the indicators clearly show you the entries and exits for you! That means you just need to follow the indicator signals and shrug off the trading stress.
All you have to do is follow the rules!
If you are unhappy with your purchase for up to 60 days, you can request a refund and they will give you your money back. This is a no-question asked money back guarantee.
Here is the site: http://bit.ly/eytjvC
'm very confident that Forex Morning Trade system will help you start making real money in the Forex market. Try it now before the offer is gone.

FINANCIAL ANALYSIS TECHNIQUES & TOOLS WHICH ARE DESIGNED FOR ANALYZING THE MARKET & INVEST RIGHT WAY FOR MAXIMIZED PROFIT

Financial analysis techniques & tools is a very immense material of financial & business area, it is impossible to the present whole of the function of Financial analysis through an  articles or report , also as a financial consultant I have tried to explained it shortly that financial analysis techniques & tools in an organization's operations.

I think if you want to be a successful financial analysis, you need to know how to relay your company's financial modeling & financial data to management, gain insight into business financial statements of competitors, understand the financial model of your supplier, and more.
Generally we know that - Sound financial decisions depend on sound financial statements. It's not enough anymore that you know how to calculate average weighted cost of capital, determine cash flow, or understand ratio analysis. These impressions are not easy to describe and just I have only described the introduction to them of financial analysis techniques and tools
I have explained in my article a general accepting of financial analysis techniques and tools
The most important concept is break-even analysis. This determines the point at which your business begins making a profit.
Break-even analysis is mainly vital in the planning stages of your business. It shows what sales and fees you need to create on a daily, weekly or monthly base, in classify to pay your everyday expenditure.
To put collectively a break-even analysis, you must first separate variable costs from fixed costs. Fixed costs are predictable on a monthly base, and arise whether or not you are open for business, although variable costs modify according to your business operations, for instance the cost of your supplies, material or labour. Financial analysis mainly takes or done tree decisions through his techniques and tools, financial analytical techniques equally can be filled up into these decision units.
I. Investment decision,
II. The financing decision, &
III. The dividend decision.
Develop of an exact analytical model, for example: net present value or internal rate of return, depends on the difficulty being asked. Many problems in financial management can be dealt with by employing more than one financial analysis technique. The purpose of applying an analytical technique is not necessarily to calculate a specific answer; quite, the purpose of a technique is to afford a more knowledgeable base on which to make a decision. An important consideration in financial analysis is timing. The timing of different financial policies is important in terms of interest rates, inflation, taxes, and the capital market. Most of the techniques used in financial analysis engage a point in time element
(I).Investment Decisions:
Investment decisions are possibly the most vital of the three types of financial decisions, because Different techniques are used for effective management of short-term Cash and accounts receivable than for purchases of long-term fixed assets. Investment judgment in this perspective refers to both short- and long-term reallocations of company funds. Short term investment judgments include the level of current assets (cash, accounts receivable, and inventories) necessary for everyday operations; whereas long-term investment judgments refer to fixed asset purchases, mergers, acquisitions, and corporate reorganizations
(II). Financing Decisions:
While making financial decisions, the financial analysis must determine the best financing combine or capital makeup for the company. In this logic, the best alternative is the capital makeup that allows the best evaluation of the company for the shareholders. The vital rudiments to judge in making financial decisions comprise: (1) the personality and friskiness' of the business function; (2) the capital makeup desired; (3) the extent of time the assets will be needed; and (4) the cost of different financing.

III. The dividend decision:
The dividend policy that the business chooses is also a subject of analysis in financial management. Techniques, The three typical dividend alternatives-the stable dividend policy, the even payout ratio, and the standard low dividend policy in addition extra-must be evaluated according to the company's exact position
Financial Analysis Techniques: Financial Analysis Techniques is embattled toward external reporting and analysis, following generally accepted accounting principles (GAAP) as the foundation for the data used, this is a proper guideline & .which will be helpful for  discover how to financial analysis used techniques & tools in an organization's operations,
•accept the information, models & studies used to effectively communicate the financial side of your business to your non-financial generation
•assessment, restore and keep informed for your analytical skills to gain better insight into an organization's operations
•affective assessment drivers to recover the value of your business
•Employ sustainable development techniques to assess your increase theory
•exemplify and correspondence the impact of operations on cash flow to your operational invention
Financial Analysis Techniques: Financial Analysis Techniques educate or informed you to use financial information effectively so you can develop better insights and analysis of your organization. You will be able to learn about:
•External analysis—competitors, customers and suppliers
•Internal analysis—liquidity, cash flow and performance
•Evaluating alternative analysis strategies
•Integrating key metrics
Financial analysis techniques & tool can be used for Wahid theory .The expression or Wahid stands for:
•W- Wakefulness
•A - Accountable
•H - Heed
•I - Intelligence
•D- Determination
"Wahid theory" is just guide to the financial consultant, financial planner, financial adviser, business owner, reader from end to end a complete financial valuation and financial valuation tools in an organization that professionals can use in preparing business valuations. I hope this prepared to possible during used on a "Wahid theory" basis.
If you are writing a business plan for a bank, your bank manager will want to see that your ideas are well thought out, but the most important aspect to him or her will be your financials. Are your assumptions realistic? And will the cash flow of the business be enough to ensure that you can make the monthly payments for the loan that you have requested? If your business is making $1,000 a month and your payments are $1,200 a month, the bank is likely to turn you away
"Wahid theory" on valuing businesses conveyed in a series of easily understandable Exposed to total financial consulting issues: Financial valuations are very much affected by specific facts and circumstances. Every situation is unique and differing facts and circumstances may result in variations of the applied methodologies. Nothing contained in these written materials shall be construed to represent the rendering of valuation advice; the exposé of a valuation opinion; the picture of any other professional opinion or service.

What is the Difference between Tax Assessed Value and Market Value?

It is a common issue that most homeowners have when they buy, sell or get their tax bill in the mail a "What is the difference between Tax Accessed Value ("TAV") and Fair Market Value ("FMV")?" 

This question and its answer are critical to your understanding why many property owners who appeal their taxes personally fail. This is not a surprise and most county tax appraisers (assessors) do not help the situation. REMEMBER, if you appeal and the basis for your appeal is not acceptable, you are declined and can not come back again for another year!

Fair Market Value is what a property should be able to be sold at in a market that is not under "distress". Distress in this case means not an unusual amount of foreclosures, high or anticipated high unemployment in the region, a toxic waste dump nearby, flood plain, or other "issues: that could cause perspective buyers to look elsewhere for homes.

Appraising a property is a matter of looking at what other, "supposedly similar" properties have actually sold at within a limited area around your home, usually 1/4 to 1/2 mile or, preferably, within your subdivision. I would like to say this appraised value is an accurate estimate of what your home will sell for, but frankly, appraisals are to a large degree a subjective guess. Any appraiser will admit that his appraisal is based on his professionalism in estimating the value of your home but it is still a "best estimate" in his mind. Often two appraisals of the same property can be 10% or more apart. Comparable sales can not take into account the motivation of the seller or the condition of the interior of the property.

FMV is definitely not what your neighbor's smaller home sold for plus an upgrade for your larger property. Most homes are purchased for emotional reasons or the practicality of living close to work or schools, etc. So a homeowner can get an appraisal, estimate his own FMV or ask friends, neighbors and real estate agents to mention a few sources. It is very likely that your personal guess, if supported by actually seeing the inside of properties for sale and ones that have sold and comparing these sales or listings or FSBO's (For Sale By Owners) to your property, is as good, if not better than all those opinions above. For this exercise, let's assume you have decided your property's FMV is $250,000.

If the FMV is $250,000 what should the Tax Assessed Value be? Usually, the County Tax Assessor has a formula based on FMV to compute your TAV. This formula varies greatly from state to state and county to county, but in general it should be 80% of FMV LESS your deductions. Your deductions, where applicable, include exemptions for some or all of the following: widow or widower, senior citizen, handicapped, homesteaded property, veterans, combat injury, paralyzed partially or completely, blindness, and on and on. It is important that every homeowner review the full list of exemptions for his county or have a professional tax appealer do it for you, because each and every exemption is money in your pocket to which you are entitled. Florida has recently increased its homestead exemption from $25,000 to $50,000 per homesteaded household. This roughly means that the average homeowner will save an additional $350 - $500 a year in taxes.

The tax appraiser uses what he considers your FMV and multiples it by a multiplier of 80% to 90% of FMV. Here is an actual example for Broward County, Florida: FMV (your recent purchase price) of $250,000, TAV without homestead or any other exemption = $212,000 (84.8%). If you homestead your property, the TAX value drops to $162,500, HOWEVER, your School Board Taxable Value changes to $187,500.

If you are a Senior disabled Combat-wounded veteran, age 65, have at least a 10% disability rating, provide proof of combat injury, and a Florida resident at the time of entering the service, your property taxes are $0.00! There are numerous other full exemptions that you or a professional tax appealer should investigate immediately because you may be entitled to huge property tax savings.

If you purchased a home as a short sale or a foreclosure and got a great deal at well below FMV, your purchase price will not be considered as FMV. Instead, the tax assessor will use his "best estimate" based on other properties in the neighborhood. However, he will not take into account the repairs you had to make that could reduce your taxes substantially. Your professional tax appealer will be able to do this for you.

In the years following your home's purchase, the tax assessor determines your assessed value by using a complicated mathematical formula that re-appraises all the properties in the county at one time. It has to be done this way because of the tens of thousands of properties and the minimal staff at the tax assessor's office. In most cases this isn't fair to the homeowner or commercial property owner but fewer than 2% of tax payers officially protest and fewer than 20% of those who do ever get a tax reduction. This is primarily because of a lack of understanding the appeals process and being able to reconstruct the necessary data for a successful appeal; your professional tax appealer can do all this for you.

In summary, the TAV of your home is usually a percentage of its FMV and under usual circumstances this will be 80% to 90% before exemptions. However, for short sale and foreclosure purchases it could be 200+% of your purchase price or more. Consult with a local professional tax appealer to make sure you are paying only your fair share of your property taxes.

How to Pay Off a 30-year Mortgage in 8.5 Years

Is it really possible that you can pay off a 30-year mortgage in less than 10 years...

...without refinancing...

...without necessarily increasing your total monthly expenditures... 
...and without debt consolidation?

Yes, it is! Thousands of home owners have learned that it can be done!

This may seem to be too good to be true at first, and you may not easy accept what we share with you here; because we're all conditioned accept the status quo. The banking industry truly doesn't want you to know our method. They would rather that you pay your mortgage payments over a long period of time, so they can maximize their profit, at your expense.

In this article, we're going to spill the beans, and reveal some of the secrets the banking industry has been keeping from us far too long!

If you want to pay off your mortgage as fast as possible, it benefits you a great deal to find a way to put extra funds toward the outstanding balance as soon as possible. But to do this doesn't mean you have to spend more than you already spend per month. It's actually the method of payment that will save you the most money! And we're talking about huge savings!

Where do the extra payments come from?
Even a little extra money paid in the beginning pays huge dividends in the long run; because the huge interest charges early in the loan really cause whirlpools in the bottom line! Most home buyers aren't aware that they can easily lower their interest cost, and apply a lot more to the principal instead. Far too many home buyers fail to make the simple corrections! Although once we see the significance of paying down the principal, and follow our proven method, they get on track to pay off their mortgage very early; often in as little as 8 1/2 years.

Front-Loaded Interest: A Big Reason You Haven't Been Able To Pay Off Your Mortgage Quickly

If you take a look at your mortgage amortization table, you'll discover something very interesting. I'll just lay out the facts for you here, using the example of a $150,000 30-year fixed-rate mortgage at 6% APR.

In the first year of your mortgage, you pay $10,791.96 (12 monthly payments at $899.33), and a whopping $8,949.89 of that goes to the bank for interest, NOT the principal.

That's a whopping 82.93% of your payments that went to interest... flushed down the toilet, and into the banks' pockets. That's your hard-earned money going bye-bye, since it doesn't pay off your loan at all!

Of your first year payments, only 17.07 % applies toward the real problem - the principal, that stands in your way of paying off your loan.

The sad thing is, even though you paid $10,791.98 on your $150,000 mortgage, the principal still stands at $148,157.98.

That means that the equity you'd have in your home would be $1,842.02. You "invest" $10,791.98, and get back only $1,842.02. (That's an effective interest rate of over 500% in that first year.) To come up with that number, we must understand that we paid close to $11,000.00 to end up with a measly $1,842.00 in equity. Yikes! The effective interest charged by the bank reducing the bottom line to such a dismal level is astoundingly high!

This is a prime example of how your bank front-loads the interest during the first years of your mortgage. And to make it worse, most people sell, or refinance, within the first 5 years of their mortgage, making the front-loading even worse for the borrower. It helps them squeeze every dollar out of you when you start all over again.

In fact, the only way that a 6% interest is ever 6%, is if the borrower actually stays with the mortgage for the full term (30 years, in our example). Only a very small fraction of homeowners actually do this. If you sell or refinance at any time before the maturity of your mortgage, the effective interest rate you end up paying is usually much more than 6%.

So, How Do We Pay Off Our Mortgage Quicker?

It's simple. Turn the tables on the bank! We've shown you how they front-load the interest. Now you know what thousands of people who are already paying off their mortgages early have learned: find a way to pay a larger portion of each payment toward the actual debt. Oh yes, it's easy to do!

But there's another problem.

The banks have ways of keeping this information from you. They're just not going to share any secrets, because it would hurt their bottom line. So they they've laid out a minefield to make it very difficult for the home-buyer to reverse damaging trend of front-loading.

But take our word for it: there is a way, - a method - to legally, and easily, maneuver through this minefield, and pay off your mortgage in a fraction of the time. Thousands of home buyers have learned what you can learn with us, and are already doing something about it!.

Mortgage acceleration--true mortgage acceleration--is the key to success!

Proven, 6-Year Old System Has Already Shown Thousands How To Pay Off
Their Mortgage In An Average Of 8.5 Years...Saving Them An Average of
$21,000 A Year On Their Mortgages...Without An Increase In Your Monthly
Expenditures! Get Your Copy Of The Report Now! Go to http://mortgageaccelerationreport.com

Online Stock Broker - How To Find The Best Online Stock Broker

Online brokers have an important role to play when you open an online trading account. Each broker can offer different services and features. You must research all the online brokers to find the best broker to meet your needs. I have listed a large number of online brokers and placed their information for you to read in one easy-to-read webpage. This is a free, "no-cost to you" service for our valued readers and can be found on this link: Best Online Stock Brokers

What to look for in an online broker.

Brokerage rates – this is the rate at which you are charged for buying or selling through your online account. These rates are usually charged based on a sliding scale. The more units you purchase in a single transaction, the less the "cost per unit" you will pay. The exact sliding scale can vary and may sometimes be negotiable for larger purchases. Compare each broker and read the fine print within contracts. Pick the one that best meets your buying and selling style.

Account fees – Look for hidden fees in account contracts within the terms and conditions. I know of one broker who requires an extra $10 to transfer money out of an account "quickly" as against withdrawing money normally. Hardly a fair fee, I’d say. All fees should be listed in the terms and conditions listed in opening an account.

Phone access – Online services can go down during hours of service. Interruptions to broadband services, power outages and computer problems can stop you from accessing information you need at critical points. This is why you must have phone access to your online broker. Do not even consider using an online broker if they do not provide phone access.

Access to your money – I prefer having instant access to my money even though it is held in a cash account by the broker. Most brokers will have a cash account facility that is linked to your trading account. My account is linked to a MasterCard account, which means I can access that money anytime through any ATM or make purchases as I would normally using a MasterCard. Don’t be misled into thinking you must only have a separate cash holding account with the online broker. There are lots of options open to you as a client and good online brokers will provide several options for your cash holding account.

Extra benefits – seek out those brokers that give you extra incentives to open an account with them. Some offer a limited free brokerage period. Others will offer free reports on the markets you are interested in. These bonus offers can help you getting you account established and setup a profitable trading account. For more information on finding the best online stock broker feel free to visit our website.

Benefits of Hiring Utility Sales Tax Consultants

Your company may be eligible for a utility sales tax exemption or refund, but there are a number of factors that come into play. Only certain companies with certain machines can apply. On top of that, you need to be aware of the statute of limitations and understand the percentage of utility usage that is eligible for the exemption and information about ownership. With everything that you need to know and do in order to reap the benefits, you should hire Iowa utility sales tax consultants. Here are 4 benefits that you can take advantage of by hiring professional assistance:

Saves Money

One of the greatest benefits that you can receive by getting professional assistance is money savings. Many companies find that the sales tax is as much as 8% of the amount that they spend on utilities every month, so an exemption can be a great way to save money throughout the year. The consultant can also audit your utility bills to make sure that you're not overpaying and recover any money that you shouldn't have spent. Gather all of your natural gas, electricity, water, and other utility bills to give to your consultant for review.

Explains Requirements

Each state has its own requirements that must be met for a company to be considered eligible for the utility sales tax exemption. A consultant will know the requirements that you need to meet, and he or she can quickly help you determine if you'll be eligible. Many companies will review your information to quickly gauge if you're eligible, and they can give you more information about what you can expect from the application process.

Conducts Utility Studies

In order to show that you're eligible, you need to have a predominant-use study or utility-use study completed by a certified professional. This person will examine your property and the machines and equipment that you use. He or she can determine the amount of energy, heat, and other utilities that are used for manufacturing and processing. During the study, the consultant will examine each machine and equipment on your property that is used for manufacturing and processing. He or she may ask you questions about its hours of operation and percentage of time used to complete the manufacturing and processing tasks. With your answers and energy readings, he or she can complete the study for you.

Files Applications

With the predominant-use study completed, you can complete your application. Your consultant can help you complete the application and submit the claim for you. Having a professional help you complete this process can give you reassurance that everything was completed correctly and all the information is there that can help the government make a decision as quickly as possible. The consultant knows what information the government will be looking for when reviewing applications, and he or she can make sure that there is no missing information when you're ready to submit it. With accurate information and nothing missing, you can be assured that there won't be any issues with your application so you can get an answer in a timely manner.
If your utility sales tax seems exorbitant, it would be to your benefit to hire Iowa utility sales tax consultants. They can review your current costs to determine if they can recover any money that you overpaid unnecessarily. You'll need to be aware of the statute of limitations to determine the amount of money that you can receive. They can also help you determine if you're eligible for exemptions, so you can save money every month moving forward. A professional consultant will become an invaluable asset for your company to help you get the money that you're owed.

What You Should Know About Credit For Small Business!

Your business is running well and your customer base is growing. During the last quarter you actually turned a profit for the first time since you opened your doors last year. You have a solid business plan and now it's time to think about moving out of your rented space, buying more equipment, or perhaps hiring more employees.


Probably, your business is profitable but during your slow season you're short of cash or your delivery truck just broke down and you have decided its time to get a new one. You need to get cash to keep your business moving forward.
Whatever if the reason, the concerning point is, where do you start? Well, it is good that there is a wide variety of loan programs and credit for small business is available that can be applied to almost any business situation. But the bad news is that choices can seem complex and overwhelming.
Here are some options that a small business owner can consider.
If your business is profitable over the course of the financial year but there are times when you are short of cash because your income is seasonal, you may benefit from a business line of credit. A line of credit provides access to cash for a variety of short-term financing needs and gives you the flexibility to draw on the line at any time as long as you pay down the balance.

Generally, once the line of credit is accepted, funds are available when you need them, but the benefit is that you do not pay interest until you draw on the line. Lines can be secured or unsecured, with multiple repayment options and a variety of interest rates. Interest rates generally range from nine to fifteen percent based your personal and business credit history and other factors. You would generally not use your business line of credit for expansion or capital investment, because you may not realize income from your expansion for many months. For expansion you should consider a loan.
However something you may want to think about is unsecured loans are loans that do not require any cash down, home equity, personal assets, or business assets of any kind. Obviously, unsecured lending is a valuable option for startups which have property or assets they want to protect.
Without a doubt, an unsecured credit for small business is probably the most valuable financial tool that a small business owner can possess. Basically, the credit line works like a huge credit card but at times can have added benefits like check writing and lower interest rates as compared to most business credit cards.

Promote solar energy in daily usage

The increasing demand of electricity and concerns for our environment has forced the humans to find some alternative energy source. There is a variety of renewable energy options available among which solar energy is the most preferred one. Solar energy can be produced by collecting sunlight and converting it into heat, light and electricity. Solar panels and solar thermal collectors are used to convert sunlight into electricity and for heating water respectively. However, the usage of solar energy not so common as compared to its capability to meet our requirements.

Use of sunlight as an energy source is highly advantageous:

• Sun's heat and energy are unlimited
• Solar energy is non-polluting as it does not emit any harmful gases or waste
• The versatility of solar energy can be used for small as well as large scale purposes
• Low maintenance required and is long lasting

Solar energy being a sustainable alternative has got multiple applications:
Lighting- The basic solar application is lighting. Lighting systems collect and distribute sunlight in order to impose effective internal illumination.
Thermal Technologies- These can be used for heating water for daily usage as well as for commercial purposes. Solar energy is also effective for space heating or space cooling. Water heating systems working with solar energy use various types of collectors to gather and store sun's energy for water heating. Thermal mass materials are required for keeping buildings cool by absorbing the heat during the day and radiate the stored heat at night in cooler atmosphere.

Power Generation- Solar energy can be directly converted into electricity by using photovoltaic cells. Solar PV cells are also capable of providing electricity for day to day usage at homes as well as for commercial usage at offices. They are also used for supplying power to calculators, watches and many other small devices.
Thus if there has been a solar energy set up installed, it can be used inevitably as a sustainable source of energy. Keeping this fact in mind, Lotus Group has designed its new project incorporating various amenities promoting Green spirit. Mahgaun group is one of the popular name in real estate presents mahagun moderne, equipped with solar lighting and solar heating features is a great way to promote one's friendship with the environment. The residential project offers 3 and 4 BHK super luxurious homes at sector 78, Noida. Positioned at a prime location, the project has got everything that promotes luxury and conserves nature.