In the Fraser Valley's rapidly expanding real estate market there are several elements to consider. You are probably aware of the concept of inflation. But just to recap, inflation means that the increasing cost of buying a service or a product (tangible or intangible). This decreases your purchasing power. For example, an item that cost perhaps 10 dollars ten years ago, now cost 50. People in today's world that are on fixed incomes are very aware of their purchasing power of the Fraser Valley rental dollar.
This factor is very important to consider when renting your new home, apartment or townhouse in the lower mainland. The inflation rate in Canada varies at different times of the year and in different regions across the country. At one time Canada had what's known as double digit inflation. However, currently in the Abbotsford, Burnaby, Coquitlam, Surrey, Langley, New West and Richmond area, inflation has stayed relatively low.
Naturally, the appreciation of property value over time includes inflation factors. And historically, land appreciation value for residential homes has been between 4 and 5 percent greater then inflation rate. When you buy a home in the Fraser valley your buying a home with inflated dollars. That is, you are probably getting more money now in terms of salary increases to pay off lesser-value money when you took out that original mortgage. So your beating the system!
Renting in the Fraser Valley can often be a disadvantage given our appreciating real estate in Abbotsford and Vancouver. In fact Every city across the Fraser Valley has been hit by the real estate boom and has experienced some level of Appreciation. This includes Richmond real estate, Burnaby, Coquitlam, New West, White Rock, Mission, Maple Ridge, and all other major cities across the lower mainland. Appreciating simply means the increase in value of the property over time. It is the growth in value of your original capital investment.
The national average of appreciation with real estate in the Fraser Valley is 5%. However, real estate in the lower mainland has seen gains as much as 25%. It's important to understand that trends will go up and down. But with the 2010 Olympics coming up, interested rates staying under 10% and our economy the way it is, you'll notice the real estate market will continue to clime. The rent BC option has rapidly changed into a wealth building endeavor for any middle class investor.
Sunday, July 8, 2012
Saturday, July 7, 2012
What Is Mobile Wallet Protection?
With the proliferation of Smartphones and the advent of contactless payment, there has been a growing need to offer some sort of protection for those who are using mobile wallets' as they are known. With industry insiders expecting this type of payment to boom over the next year or so, it's time consumers were fully protected against theft or fraud and that's where mobile wallet protection can help.
Mobile Wallets
This type of payment is fast becoming incredibly popular among mobile phone users and high street stores up and down the country. Through using your phone you will be able to pay for goods and services approximately up to the value of 15.
In terms of technology, the payment system used is called Near Field Communication (NFC). This is a way of making simple transactions, exchanging data and making wireless connections to a reader device that is just a few centimetres away from your mobile device. New Smartphones will contain an NFC chip which can send encrypted data to a reader device close by.
So this means that instead of having to pay for items, goods and services using cash, debit cards, credit cards or even cheques, you'll be able to use your phone to swipe or hold against one of the NFC readers which will then make the transaction for you.
Whilst we consider the huge benefits of this payment type, such as being a huge time saver, being convenient and making purchasing quick and easy, it does carry with it a larger risk the risk of having your phone stolen. If you consider that phones now carry credit stored on them ready to make purchases, they become even more attractive to thieves. In fact due to the all-encompassing nature of Samrtphones, these devices have never been so attractive to potential thieves. So what's the solution?
Mobile Wallet Protection
With mobile wallets becoming the norm, industry experts predict that by 2015 they may even replace cards and in some cases even replace cash. By the end of this year alone, almost 60,000 shops will be expected to accept this type of payment. Like anything involving consumers, their possessions and their hard earned cash they will need protection, and this is where mobile wallet protection is a god send.
Losing your phone is not only frustrating, but it's potentially dangerous if someone has access to all of your personal information and data. Coupled with this a new threat; if someone was to steal your phone and rack up huge debts thanks to this new payment system, you won't be best pleased.
Therefore with a changing mobile landscape we need to have protection that best suits our increasing demands. Imagine how frustrated you would be if you had an existing mobile phone insurance policy, where you were covered for loss or theft. You call you insurer who starts to get the wheels in motion to compensate you accordingly; however, you notice that someone has been using your mobile wallet to pay for a significantly large shopping spree. If this isn't covered in your insurance policy, then unfortunately it's unlikely that you'll get the money back which has been spent.
With mobile wallet protection this doesn't have to be the case. It's become a growing demand in any mobile phone insurance policy and already certain insurance companies are offering this in their mobile phone insurance policies.
All major phone companies will be incorporating this new technology in their phones and network providers and handset makers are keen to introduce this technology, just as large retailers are too. Likewise, mobile phone insurance providers have stepped up to offer a new level of protection for their customers. Depending on your insurance provider you can claim back up to 100 or more if your phone has been stolen and someone has used your mobile wallet.
As with any type of insurance, it's all about risk. This risk can be significantly reduced by adding mobile wallet protection to your mobile phone insurance policy in this sense mobile wallet protection makes perfect sense.
Mobile Wallets
This type of payment is fast becoming incredibly popular among mobile phone users and high street stores up and down the country. Through using your phone you will be able to pay for goods and services approximately up to the value of 15.
In terms of technology, the payment system used is called Near Field Communication (NFC). This is a way of making simple transactions, exchanging data and making wireless connections to a reader device that is just a few centimetres away from your mobile device. New Smartphones will contain an NFC chip which can send encrypted data to a reader device close by.
So this means that instead of having to pay for items, goods and services using cash, debit cards, credit cards or even cheques, you'll be able to use your phone to swipe or hold against one of the NFC readers which will then make the transaction for you.
Whilst we consider the huge benefits of this payment type, such as being a huge time saver, being convenient and making purchasing quick and easy, it does carry with it a larger risk the risk of having your phone stolen. If you consider that phones now carry credit stored on them ready to make purchases, they become even more attractive to thieves. In fact due to the all-encompassing nature of Samrtphones, these devices have never been so attractive to potential thieves. So what's the solution?
Mobile Wallet Protection
With mobile wallets becoming the norm, industry experts predict that by 2015 they may even replace cards and in some cases even replace cash. By the end of this year alone, almost 60,000 shops will be expected to accept this type of payment. Like anything involving consumers, their possessions and their hard earned cash they will need protection, and this is where mobile wallet protection is a god send.
Losing your phone is not only frustrating, but it's potentially dangerous if someone has access to all of your personal information and data. Coupled with this a new threat; if someone was to steal your phone and rack up huge debts thanks to this new payment system, you won't be best pleased.
Therefore with a changing mobile landscape we need to have protection that best suits our increasing demands. Imagine how frustrated you would be if you had an existing mobile phone insurance policy, where you were covered for loss or theft. You call you insurer who starts to get the wheels in motion to compensate you accordingly; however, you notice that someone has been using your mobile wallet to pay for a significantly large shopping spree. If this isn't covered in your insurance policy, then unfortunately it's unlikely that you'll get the money back which has been spent.
With mobile wallet protection this doesn't have to be the case. It's become a growing demand in any mobile phone insurance policy and already certain insurance companies are offering this in their mobile phone insurance policies.
All major phone companies will be incorporating this new technology in their phones and network providers and handset makers are keen to introduce this technology, just as large retailers are too. Likewise, mobile phone insurance providers have stepped up to offer a new level of protection for their customers. Depending on your insurance provider you can claim back up to 100 or more if your phone has been stolen and someone has used your mobile wallet.
As with any type of insurance, it's all about risk. This risk can be significantly reduced by adding mobile wallet protection to your mobile phone insurance policy in this sense mobile wallet protection makes perfect sense.
Friday, July 6, 2012
Legal Secretary Cover Letter
Writing a cover letter for the position of a legal secretary is easy if you know what the job entails and have the necessary qualities and qualifications required. In this article, we'll give you some pointers on how to go about it.
A legal secretary is a person who is the secretary to an attorney. He is the person who takes care that everything goes on well behind the scenes, to make sure that nothing goes amiss in court. The basic job description of a legal secretary includes assisting the attorney in various jobs like creating legal documents, contracts, etc. It also entails the preparation for depositions, maintenance of all case related documents, reading and proofreading all the documents that leave the office of the attorney, making sure that all documents are in order for the case, maintenance of records during and after the case is over. It also includes taking notes during meetings and making files of every case that the attorney takes up. So, if you think you have it in you to do all this, plus you have the necessary qualifications, some good experience to back it up, and a good job offer that you've chanced upon, then you need to impress the attorney with a good cover letter along with your resume. And that's exactly what this Buzzle article will help you write.
Steps to Write a Legal Secretary Cover Letter
In this section, we'll help you with some of the most practical tips that you need to know and understand, before you write the cover letter. They're simple, mostly common sense and you probably are already aware of them. Just a little brushing up is all you'll need.
1. The first thing that you need to keep in mind while writing the cover letter is that it is this letter that will play an important role in you getting the job. So make sure that you know exactly what you want to include in it and what you're willing to pass.
2. Alright, now let's begin. A legal secretary requires exceptional communication skills because he is required to be in touch with clients for meetings, appointments, etc. This will reflect in the way you write your cover letter. So make sure the language you use is simple, to the point and not over flowery. Remember, the position you're applying for is an attorney's assistant. He'll see right through any phony claims that you make.
3. Know whom you're addressing the letter to. Mention where you heard of the availability of the position and state that you're interested in the job.
4. Now, the next step is to simply give the person a tour of your resume, but without actually mentioning every tiny detail. Just state the important highlights like any relevant experience that you have, any extra skills that you possess (pertaining to the job) and your achievements in a very brief manner.
5. State that you are interested in the position and also mention how early you can join.
6. Thank the person for taking the time to go through your letter and once again mention your interest, along with your contact details, if you need to be contacted.
7. End with a thank you and the appropriate salutation.
Legal Secretary Cover Letter Sample
To help you better understand how to incorporate the above given points into the cover letter, we have furnished you with an example of a cover letter for the position of a legal secretary. Go through it and you'll get an idea about how to go about writing one for yourself.
(Name of Addressee)
(Address of Addressee)
(Date of Letter)
Dear Mr. __________________,
My name is ( _________ ). I came across your advertisement regarding the opening for a legal secretary at your firm, in the (name of newspaper, or wherever you read the ad) and found it appealing. I am a graduate in (state your undergraduate degree if you have one) and am quite keen on entering the legal domain. I have a diploma in (state any special diploma pertaining to the job requirement that you hold) and have previously worked with a law firm (state name of law firm) in (state place).
My job at (state name of firm) was that of a legal secretary as well as an administration executive. So, I can say with confidence that I am well versed with the intricacies involved in administration and legal documentation that the position of a legal secretary demands, details of which have been given in my resume attached herewith.
I have been lauded for my perfectionist attitude and can provide you with names of previous colleagues and superiors who can vouch for it. If chosen for this position, I am available to join at the earliest possible. Given below are my contact details. Please feel free to contact me for any queries or clarifications regarding anything within this letter or my resume.
Thank you for taking the time to go through my profile. I look forward to hearing from you soon.
Sincerely,
(Your Name)
(Your Address)
(Contact Number)
Encl: Resume
As we mentioned, writing a cover letter is very easy as long as you know that you can handle all the duties and responsibilities that it involves. So, take these pointers seriously and be confident while writing your cover letter. Don't make spelling mistakes, proofread your letter before sending it and use good quality stationery to print the letter. Just a little extra care can take you mile ahead of the competition.
A legal secretary is a person who is the secretary to an attorney. He is the person who takes care that everything goes on well behind the scenes, to make sure that nothing goes amiss in court. The basic job description of a legal secretary includes assisting the attorney in various jobs like creating legal documents, contracts, etc. It also entails the preparation for depositions, maintenance of all case related documents, reading and proofreading all the documents that leave the office of the attorney, making sure that all documents are in order for the case, maintenance of records during and after the case is over. It also includes taking notes during meetings and making files of every case that the attorney takes up. So, if you think you have it in you to do all this, plus you have the necessary qualifications, some good experience to back it up, and a good job offer that you've chanced upon, then you need to impress the attorney with a good cover letter along with your resume. And that's exactly what this Buzzle article will help you write.
Steps to Write a Legal Secretary Cover Letter
In this section, we'll help you with some of the most practical tips that you need to know and understand, before you write the cover letter. They're simple, mostly common sense and you probably are already aware of them. Just a little brushing up is all you'll need.
1. The first thing that you need to keep in mind while writing the cover letter is that it is this letter that will play an important role in you getting the job. So make sure that you know exactly what you want to include in it and what you're willing to pass.
2. Alright, now let's begin. A legal secretary requires exceptional communication skills because he is required to be in touch with clients for meetings, appointments, etc. This will reflect in the way you write your cover letter. So make sure the language you use is simple, to the point and not over flowery. Remember, the position you're applying for is an attorney's assistant. He'll see right through any phony claims that you make.
3. Know whom you're addressing the letter to. Mention where you heard of the availability of the position and state that you're interested in the job.
4. Now, the next step is to simply give the person a tour of your resume, but without actually mentioning every tiny detail. Just state the important highlights like any relevant experience that you have, any extra skills that you possess (pertaining to the job) and your achievements in a very brief manner.
5. State that you are interested in the position and also mention how early you can join.
6. Thank the person for taking the time to go through your letter and once again mention your interest, along with your contact details, if you need to be contacted.
7. End with a thank you and the appropriate salutation.
Legal Secretary Cover Letter Sample
To help you better understand how to incorporate the above given points into the cover letter, we have furnished you with an example of a cover letter for the position of a legal secretary. Go through it and you'll get an idea about how to go about writing one for yourself.
(Name of Addressee)
(Address of Addressee)
(Date of Letter)
Dear Mr. __________________,
My name is ( _________ ). I came across your advertisement regarding the opening for a legal secretary at your firm, in the (name of newspaper, or wherever you read the ad) and found it appealing. I am a graduate in (state your undergraduate degree if you have one) and am quite keen on entering the legal domain. I have a diploma in (state any special diploma pertaining to the job requirement that you hold) and have previously worked with a law firm (state name of law firm) in (state place).
My job at (state name of firm) was that of a legal secretary as well as an administration executive. So, I can say with confidence that I am well versed with the intricacies involved in administration and legal documentation that the position of a legal secretary demands, details of which have been given in my resume attached herewith.
I have been lauded for my perfectionist attitude and can provide you with names of previous colleagues and superiors who can vouch for it. If chosen for this position, I am available to join at the earliest possible. Given below are my contact details. Please feel free to contact me for any queries or clarifications regarding anything within this letter or my resume.
Thank you for taking the time to go through my profile. I look forward to hearing from you soon.
Sincerely,
(Your Name)
(Your Address)
(Contact Number)
Encl: Resume
As we mentioned, writing a cover letter is very easy as long as you know that you can handle all the duties and responsibilities that it involves. So, take these pointers seriously and be confident while writing your cover letter. Don't make spelling mistakes, proofread your letter before sending it and use good quality stationery to print the letter. Just a little extra care can take you mile ahead of the competition.
Thursday, July 5, 2012
How to get your car insured right
The thing about insurance is that when you buy it, you really hope that you will never actually use it. But in case your insurance situation comes into force you will immediately understand why getting the right type and amount of insurance coverage is crucial.
Decide on your insurance needs
It's impossible to prevent unforeseen situations. That's why they are called unforeseen, and insurance is just the thing you need for such circumstances. Regardless of the actual type of insurance you're looking forward to buy, whether car insurance or life insurance, there are universal factors you can use in order to define the approximate amount of coverage you will need. Look at the things you have and you want to insure, take the base value and start from there. In case of car insurance your car and its value is what you have to think about at first. Sit down with your insurance agent and discuss the amount and types of coverage your vehicle will need according to its condition and value.
Shop around
Again, it doesn't matter what type of insurance you want to buy. The rule of shopping around applies for all insurance products and car insurance is not an exception. There are a lot of insurance companies out there on the market and they all have their conditions and rates waiting for the customer. Some might say that the offer is pretty much the same all across the market but it's erroneous to say that. Just spend some time on getting insurance quotes from different companies and you will instantly realize that the offer is quite diverse.
But don't forget to compare similar policies. You may find a chap car insurance deal that will carry too little coverage for your auto, and you definitely don't want to save on the coverage you need. The price alone shouldn't be your guide. Compare the policies according to the price/coverage ratio and choose the offer that has the most advantageous one. Also make sure that the company you buy car insurance from is reputable. You can check this at your state's insurance department and insurance forums on the web where you can also get independent feedback on most insurance companies in the US.
See what's in the bundle
Bear in mind that an insurance policy is a legal document that will certainly be filled with technical jargon than an insurance novice may have a hard time understanding. However, you should definitely read it from start to finish in order to see what you're actually paying your money for. Pay attention to the following elements of the policy:
* The object of coverage
* When the coverage does apply
* When the coverage does not apply
* The term of coverage
* The amount of coverage
* The price for coverage you have to pay (the premium)
* The procedure of receiving coverage
If you have any doubts or feel that you don't understand something you should definitely ask an insurance expert to explain these things to you before signing the policy. The devil is in the details and you might want to spend more time on reviewing the policy you are interested in, especially if you're looking for cheap car insurance. There may be some tricky exceptions or additional payouts hidden in the document and you really don't want to find that out when filing a claim, right?
Decide on your insurance needs
It's impossible to prevent unforeseen situations. That's why they are called unforeseen, and insurance is just the thing you need for such circumstances. Regardless of the actual type of insurance you're looking forward to buy, whether car insurance or life insurance, there are universal factors you can use in order to define the approximate amount of coverage you will need. Look at the things you have and you want to insure, take the base value and start from there. In case of car insurance your car and its value is what you have to think about at first. Sit down with your insurance agent and discuss the amount and types of coverage your vehicle will need according to its condition and value.
Shop around
Again, it doesn't matter what type of insurance you want to buy. The rule of shopping around applies for all insurance products and car insurance is not an exception. There are a lot of insurance companies out there on the market and they all have their conditions and rates waiting for the customer. Some might say that the offer is pretty much the same all across the market but it's erroneous to say that. Just spend some time on getting insurance quotes from different companies and you will instantly realize that the offer is quite diverse.
But don't forget to compare similar policies. You may find a chap car insurance deal that will carry too little coverage for your auto, and you definitely don't want to save on the coverage you need. The price alone shouldn't be your guide. Compare the policies according to the price/coverage ratio and choose the offer that has the most advantageous one. Also make sure that the company you buy car insurance from is reputable. You can check this at your state's insurance department and insurance forums on the web where you can also get independent feedback on most insurance companies in the US.
See what's in the bundle
Bear in mind that an insurance policy is a legal document that will certainly be filled with technical jargon than an insurance novice may have a hard time understanding. However, you should definitely read it from start to finish in order to see what you're actually paying your money for. Pay attention to the following elements of the policy:
* The object of coverage
* When the coverage does apply
* When the coverage does not apply
* The term of coverage
* The amount of coverage
* The price for coverage you have to pay (the premium)
* The procedure of receiving coverage
If you have any doubts or feel that you don't understand something you should definitely ask an insurance expert to explain these things to you before signing the policy. The devil is in the details and you might want to spend more time on reviewing the policy you are interested in, especially if you're looking for cheap car insurance. There may be some tricky exceptions or additional payouts hidden in the document and you really don't want to find that out when filing a claim, right?
Wednesday, July 4, 2012
How Long Does Foreclosure Take?
In Foreclosure
Power of Sale Foreclosure vs. Judicial Foreclosure, how fast can the bank foreclose?
First of all, most lenders will not begin foreclosure proceedings until a borrower is 3-6 months behind on their payments. Although missing a single payment is a default under the terms of most loan documents, lenders have neither the time nor the desire to foreclose on borrowers who have missed one payment. The process will be initiated when it becomes clear that the debt can no longer be serviced. This post deals with the timing of a foreclosure once your lender has started the process and has instituted a foreclosure action against your property.
The speed with which a bank can foreclose on a borrower varies based on state law. There are basically two different types of jurisdictions for foreclosure purposes: power of sale jurisdictions and judicial foreclosure jurisdictions. In over half the states, the prevailing method of foreclosure is non-judicial power of sale foreclosure. What does this mean? If you have entered into a deed of trust with your mortgage lender, your deed is held by a Trustee pending full payment of your note. In the event you fail to make your mortgage payments the trustee has authority to sell your home at auction. Power of sale foreclosure can occur much more quickly than judicial foreclosure because the trustee vested with the power of sale does not need court oversight to sell the property. The trustee will give Notice of a public foreclosure sale and then sell the distressed property to the highest bidder. A court will usually not oversee the process. If a default has occurred the trustee is permitted to go through with the
foreclosure sale after a relatively short notice period (usually two to three months from the date foreclosure proceedings are instituted). If you live in a power of sale Jurisdiction, your mortgage lender can complete the foreclosure process in two to three months. Today, 29 states (Alabama, Alaska, Arizona, California, Colorado, the District of Columbia, Georgia, Hawaii, Idaho, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia and Wyoming) allow foreclosure by the power of sale
Judicial foreclosure is available in every state and is the required method of foreclosure in many states. Judicial foreclosure jurisdictions require a court to oversee the foreclosure process. Like power of sale jurisdictions, all interested parties must receive notice of the foreclosure sale. Judicial foreclosure proceedings can take a year or more to be completed . The requirement that the lender foreclose through the court system slows down the process considerably. While either method of foreclosure can be successfully challenged by an attorney, the court oversight of judicial foreclosure allows more procedural leverage to slow down aggressive lenders.
It is important for consumers to understand that they have rights in the fight against foreclosure. Power of sale jurisdictions allow for your property to be sold outside of court supervision but they still require you receive adequate notice of the sale and that your property be sold for a reasonable price. Hiring an experienced foreclosure defense attorney in a judicial foreclosure jurisdiction could buy you months while you fight back against the bank. Bankruptcy, although a last resort, will stop a foreclosure dead in its tracks due the Automatic Stay that freezes all creditor collection actions the minute a case is filed. I have filed many bankruptcy cases for clients the night before their home was scheduled to be sold at auction and had the process stopped. Chapter 13 bankruptcy may allow you to stay in your home while getting caught up on mortgage arrearages that have spiraled out of control. You have options and there is help available, but remember if you are in a power of sale jurisdiction and have
executed a deed of trust with your lender, the foreclosure process can be completed in a matter of months.
Power of Sale Foreclosure vs. Judicial Foreclosure, how fast can the bank foreclose?
First of all, most lenders will not begin foreclosure proceedings until a borrower is 3-6 months behind on their payments. Although missing a single payment is a default under the terms of most loan documents, lenders have neither the time nor the desire to foreclose on borrowers who have missed one payment. The process will be initiated when it becomes clear that the debt can no longer be serviced. This post deals with the timing of a foreclosure once your lender has started the process and has instituted a foreclosure action against your property.
The speed with which a bank can foreclose on a borrower varies based on state law. There are basically two different types of jurisdictions for foreclosure purposes: power of sale jurisdictions and judicial foreclosure jurisdictions. In over half the states, the prevailing method of foreclosure is non-judicial power of sale foreclosure. What does this mean? If you have entered into a deed of trust with your mortgage lender, your deed is held by a Trustee pending full payment of your note. In the event you fail to make your mortgage payments the trustee has authority to sell your home at auction. Power of sale foreclosure can occur much more quickly than judicial foreclosure because the trustee vested with the power of sale does not need court oversight to sell the property. The trustee will give Notice of a public foreclosure sale and then sell the distressed property to the highest bidder. A court will usually not oversee the process. If a default has occurred the trustee is permitted to go through with the
foreclosure sale after a relatively short notice period (usually two to three months from the date foreclosure proceedings are instituted). If you live in a power of sale Jurisdiction, your mortgage lender can complete the foreclosure process in two to three months. Today, 29 states (Alabama, Alaska, Arizona, California, Colorado, the District of Columbia, Georgia, Hawaii, Idaho, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia and Wyoming) allow foreclosure by the power of sale
Judicial foreclosure is available in every state and is the required method of foreclosure in many states. Judicial foreclosure jurisdictions require a court to oversee the foreclosure process. Like power of sale jurisdictions, all interested parties must receive notice of the foreclosure sale. Judicial foreclosure proceedings can take a year or more to be completed . The requirement that the lender foreclose through the court system slows down the process considerably. While either method of foreclosure can be successfully challenged by an attorney, the court oversight of judicial foreclosure allows more procedural leverage to slow down aggressive lenders.
It is important for consumers to understand that they have rights in the fight against foreclosure. Power of sale jurisdictions allow for your property to be sold outside of court supervision but they still require you receive adequate notice of the sale and that your property be sold for a reasonable price. Hiring an experienced foreclosure defense attorney in a judicial foreclosure jurisdiction could buy you months while you fight back against the bank. Bankruptcy, although a last resort, will stop a foreclosure dead in its tracks due the Automatic Stay that freezes all creditor collection actions the minute a case is filed. I have filed many bankruptcy cases for clients the night before their home was scheduled to be sold at auction and had the process stopped. Chapter 13 bankruptcy may allow you to stay in your home while getting caught up on mortgage arrearages that have spiraled out of control. You have options and there is help available, but remember if you are in a power of sale jurisdiction and have
executed a deed of trust with your lender, the foreclosure process can be completed in a matter of months.
Monday, July 2, 2012
How To Find Outperforming Canadian Stocks Using Tsx Stock Screener
Many people are today looking to invest in stocks and this is due to the high returns that this venture is capable of providing. However, it is very challenging to pick the right company that you are going to invest in and at the same time the right price for a specific company's stocks. The best way of choosing the right company and the right price for a specific company's stock is to use the online stock screener that filters your results based on valuations that will only work for you. There are many options here and one of them is the Canada Stock Screener. Canadian stocks have been limited for screening until lately. There are several popular tools today that you can use for Canada and one of the most popular ones is the TSX stock screener.
This service is new in the market and even though it is not the most powerful stock screener it is quite powerful especially for Canadian exchanges. TSX stock screener is completely free and it also allows you to conduct multiple custom criteria even if you are an advanced investor. It also allows you to edit columns on the results page so as to display different criteria that you may be looking for. Toronto Stock Exchange denoted as TSX or formerly TSE is Canada's largest stock exchange, the third largest in the continent of North America and the seventh largest in the world in terms of market capitalization.
This stock exchange is based in Toronto which is the largest city in Canada and it is owned and operated as a TSX group subsidiary for trading of senior equities. Toronto Stock Exchange has a representation of various businesses from Canada, the United States as well as other countries from Europe and other parts of the world. Many people have tried the TSX stock screener and profited from it. Apart from conventional securities, Toronto Stock Exchange also lists investment funds, income trusts, split share corporations and exchange traded funds. This stock exchange is also the leader in various sectors most notably the mining and oil & gas sector since there are more companies listed in this exchange from this sector.
There are several ways in which you can find the outperforming Canadian stocks. The Canada Stock Screener has a wide variety of fundamental and technical criteria that will help you to build a custom screen. Other notable tools include Globe Investor, Stock charts for people who use technical analysis of stock charts, Google Finance, Yahoo Finance, MSN and Finviz which offers technical and fundamental choices on the screen. Using one of the above mentioned tools will enable you find the outperforming stocks in the Canadian market.
This service is new in the market and even though it is not the most powerful stock screener it is quite powerful especially for Canadian exchanges. TSX stock screener is completely free and it also allows you to conduct multiple custom criteria even if you are an advanced investor. It also allows you to edit columns on the results page so as to display different criteria that you may be looking for. Toronto Stock Exchange denoted as TSX or formerly TSE is Canada's largest stock exchange, the third largest in the continent of North America and the seventh largest in the world in terms of market capitalization.
This stock exchange is based in Toronto which is the largest city in Canada and it is owned and operated as a TSX group subsidiary for trading of senior equities. Toronto Stock Exchange has a representation of various businesses from Canada, the United States as well as other countries from Europe and other parts of the world. Many people have tried the TSX stock screener and profited from it. Apart from conventional securities, Toronto Stock Exchange also lists investment funds, income trusts, split share corporations and exchange traded funds. This stock exchange is also the leader in various sectors most notably the mining and oil & gas sector since there are more companies listed in this exchange from this sector.
There are several ways in which you can find the outperforming Canadian stocks. The Canada Stock Screener has a wide variety of fundamental and technical criteria that will help you to build a custom screen. Other notable tools include Globe Investor, Stock charts for people who use technical analysis of stock charts, Google Finance, Yahoo Finance, MSN and Finviz which offers technical and fundamental choices on the screen. Using one of the above mentioned tools will enable you find the outperforming stocks in the Canadian market.
Sunday, July 1, 2012
Applying Ebitda To Pharmacy Acquisitions
EBITDA is an acronym for earnings before interest, taxes, depreciation and amortization and is often used to measure the value of some businesses. It can also be used in the comparison of similar companies.
The EBITDA formula can be used as a guideline when valuing larger companies, or when comparing the profitability of large similar companies in the same industry.
For the effective use of EBITDA, these larger companies should possess significant assets, have heavy amortization schedules, or bear substantial amounts of debt. Considering independent pharmacies don't meet those criteria, this formula is not a useful measure as the sole means for valuing pharmacies for acquisition purposes.
Generally EBITDA makes it easier to evaluate various companies and to compare them against industry averages by removing the irregular and non-core operating costs such as interest, which can vary depending on the management's choice of financing, taxes which can fluctuate depending on acquisitions or losses from prior years and arbitrary factors of depreciation and amortization.
Calculating EBITDA:
1. Calculate net income by obtaining total income and subtract total expenses.
2. Determine the total amount of taxes paid to federal, state, and local governments.
3. Compute interest fees paid to companies or individuals for the use of credit, or capital.
4. Establish the cost of depreciation (the expense recorded to allocate a tangible asset's cost over its useful life).
5. Determine the cost of amortization (the expense for consumption of the value of intangible assets, such as goodwill, patents, and copyrights, over a specific period of time, or the asset's expected life.
6. Add #1 through #5.
EBITDA calculation example:
1. Net Income 5,000
2. + Taxes paid 1,500
3. + Interest Expenses 1,000
4. + Depreciation 500
5. + Amortization 250
6. = EBITDA 8,250
During the 1980s EBITDA was being used as a proxy for cash flow in leveraged buyouts to calculate whether companies could service their debt. Factoring out interest, taxes, depreciation, and amortization can allow an unprofitable business to appear financially healthy. The dotcom era was notorious for using this method of valuation to make unprofitable businesses look good on paper. With little earnings and fewer assets the results from that method caused many to go bust. This was a blaring example of misapplying EBITDA.
Pharmacy Industry Specialists performing retail business valuations will use EBITDA in pharmacy valuations, but only as part of a larger formula when computing values for specialty pharmacies especially those who have a niche in HIV, disease management, long term care and home infusion. However, EBITDA should not be used as part of the usual formula for standard retail pharmacy acquisitions.
The EBITDA number for a specific existing pharmacy is important for the most part, when the current owner is establishing their store value for the purpose of borrowing, creating a Trust, adding a line of credit, stock values, etc., but EBITDA does not impute the same importance when selling a pharmacy. This is due to the fact the buyers expenses are not the same as the sellers.
Buyers may not have the same tax base, interest expense, or the same depreciation schedule, thus it is important that the buyer calculate an estimated EBITDA that is specific to their operating model, business systems, buying power, cost of operations, etc., not the sellers. It should also be noted that EBITDA assumes that the buyer will acquire all of the assets, working capital, accounts receivable, and liabilities. These assumptions do not hold true regarding an acquisition of a pharmacy. Instead of the EBITDA number pharmacy buyers should be focusing on sales, cash flow, gross profit and customer mix.
The EBITDA formula can be used as a guideline when valuing larger companies, or when comparing the profitability of large similar companies in the same industry.
For the effective use of EBITDA, these larger companies should possess significant assets, have heavy amortization schedules, or bear substantial amounts of debt. Considering independent pharmacies don't meet those criteria, this formula is not a useful measure as the sole means for valuing pharmacies for acquisition purposes.
Generally EBITDA makes it easier to evaluate various companies and to compare them against industry averages by removing the irregular and non-core operating costs such as interest, which can vary depending on the management's choice of financing, taxes which can fluctuate depending on acquisitions or losses from prior years and arbitrary factors of depreciation and amortization.
Calculating EBITDA:
1. Calculate net income by obtaining total income and subtract total expenses.
2. Determine the total amount of taxes paid to federal, state, and local governments.
3. Compute interest fees paid to companies or individuals for the use of credit, or capital.
4. Establish the cost of depreciation (the expense recorded to allocate a tangible asset's cost over its useful life).
5. Determine the cost of amortization (the expense for consumption of the value of intangible assets, such as goodwill, patents, and copyrights, over a specific period of time, or the asset's expected life.
6. Add #1 through #5.
EBITDA calculation example:
1. Net Income 5,000
2. + Taxes paid 1,500
3. + Interest Expenses 1,000
4. + Depreciation 500
5. + Amortization 250
6. = EBITDA 8,250
During the 1980s EBITDA was being used as a proxy for cash flow in leveraged buyouts to calculate whether companies could service their debt. Factoring out interest, taxes, depreciation, and amortization can allow an unprofitable business to appear financially healthy. The dotcom era was notorious for using this method of valuation to make unprofitable businesses look good on paper. With little earnings and fewer assets the results from that method caused many to go bust. This was a blaring example of misapplying EBITDA.
Pharmacy Industry Specialists performing retail business valuations will use EBITDA in pharmacy valuations, but only as part of a larger formula when computing values for specialty pharmacies especially those who have a niche in HIV, disease management, long term care and home infusion. However, EBITDA should not be used as part of the usual formula for standard retail pharmacy acquisitions.
The EBITDA number for a specific existing pharmacy is important for the most part, when the current owner is establishing their store value for the purpose of borrowing, creating a Trust, adding a line of credit, stock values, etc., but EBITDA does not impute the same importance when selling a pharmacy. This is due to the fact the buyers expenses are not the same as the sellers.
Buyers may not have the same tax base, interest expense, or the same depreciation schedule, thus it is important that the buyer calculate an estimated EBITDA that is specific to their operating model, business systems, buying power, cost of operations, etc., not the sellers. It should also be noted that EBITDA assumes that the buyer will acquire all of the assets, working capital, accounts receivable, and liabilities. These assumptions do not hold true regarding an acquisition of a pharmacy. Instead of the EBITDA number pharmacy buyers should be focusing on sales, cash flow, gross profit and customer mix.
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