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Wednesday, April 25, 2007

Arlington Heights, Illinois Law Office

Greetings. I just wanted to announce that we are now open for business in Arlington Heights, IL. We have a part time weekend office at

Arlington Heights Rd. Ste. 113 Arlington Heights, IL 60005
Map and driving directions

We have struck a deal with Platinum Financial Mortgage Corporation They will be happy to help place you in a mortgage for the home of your dreams.

Our firm handles real estate transactions - from home buyers to commercial property deals.

We have also teamed with a real estate broker company, Lucky Realty Group of Chicago Illinois who has brokers and agents to help you find that home of your dreams or can help you maximize your sales price during this slow real estate market in Chicago.

Feel free to contact us for any of these deals.

Thursday, April 19, 2007

Save Money on Gas

I am here to provide useful tips and tricks to help my clients, and those who can take certain steps to help avoid bankruptcy.


Top 10 Fuel Saving Tips
From Aaron Gold,
Your Guide to Cars.(as posted on About.com)
http://cars.about.com/od/helpforcarbuyers/tp/ag_top_fuelsave.htm

Whether you drive a two-seat hybrid or a three-ton SUV, chances are you can squeeze a bit more distance out of each gallon of fuel. These ten fuel saving tips have served me well over the years, and they can help you improve your car's fuel economy and take some of the sting out of high fuel prices. Most of these tips will give you a very slight increase in miles per gallon (MPG) -- but use several together and the gas mileage improvements will really add up.

1) Check your air filter
A clean air filter is the key to good fuel economy. A dirty air filter restricts the flow of air into the engine, which harms performance and economy. Air filters are easy to check and change; remove the filter and hold it up to the sun. If you can't see light coming through it, you need a new one. Consider a K&N or similar "permanent" filter which is cleaned rather than changed; they are much less restrictive than throw-away paper filters, plus they're better for the environment.

2) Check your tire pressure
Next to the air fitler, under-inflated tires are one of the most commonly ignored causes of crummy MPG. Buy a reliable tire gauge, check your tires when they are cold (driving the car warms up the tires and the air inside them, increasing the pressure), and keep them properly inflated. Use the inflation pressures shown in the owner's manual or on the data plate in the driver's door jamb.

3) Slow down
As speed increases, fuel economy decreases exponentially. If you(sic) one of the "ten-over on the freeway" set, try driving the speed limit for a few days. You'll save a lot of fuel and your journey won't take much longer. Just be sure you keep to the right, so you won't impede the less-enlightened.

4) Hang with the trucks
Ever notice how, in bad traffic jams, cars seem to constantly speed up and slow down, while trucks tend to roll along at the same leisurely pace? A constant speed keeps shifting to a minimum -- important to those who have to wrangle with those ten-speed truck transmissions -- but it also aids economy, as it takes much more fuel to get a vehicle moving than it does to keep it moving. Rolling with the big rigs saves fuel (and aggravation).

5) Accelerate with care
Jack-rabbit starts are an obvious fuel-waster - but that doesn't mean you should crawl away from every light. If you drive an automatic, accelerate moderately so the transmission can shift up into the higher gears. Stick-shifters should shift early to keep the revs down, but don't lug the engine -- downshift if you need to accelerate. Keep an eye well down the road for potential slowdowns. If you accelerate to speed then have to brake right away, that's wasted fuel.

6) Get back to nature
Consider shutting off the air conditioner, opening the windows and enjoying the breeze. It may be a tad warmer, but at lower speeds you'll save fuel. That said, at higher speeds the A/C may be more efficient than the wind resistance from open windows and sunroof. If I'm going someplace where arriving sweaty and smelly could be a problem, I bring an extra shirt and leave early so I'll have time for a quick change.

7) Back off the bling
New wheels and tires may look cool, and they can certainly improve handling. But if they are wider than the stock tires, chances are they'll create more rolling resistance and decrease fuel economy. If you upgrade your wheels and tires, keep the old ones. I have fancy sport rims and aggressive tires on my own car, but I keep the stock wheels with a good narrower-tread performance tire in the garage. For long road trips, the stock wheels give a smoother ride and better economy.

8) Clean out your car
The more weight your car has to haul, the more gas it needs to do the work. If you're the type who takes a leisurely attitude towards car cleanliness -- and I definitely fall into that group -- periodically go through your car and see what can be tossed out or brought into the house. It doesn't take much to acquire an extra 40 or 50 lbs. of stuff.

9) Out with the new, in with the old
Many people keep their old cars around even after they buy a new one. A spare car, especially if it's an econobox, can be good insurance against temporary spikes in gas prices due to world events. The costs of keeping the car may or may not be less then the fuel saved, but it does allow for more predictability in your budget. My old beater doesn't look like much, but it goes 10 miles further on a gallon of gas than our regular car. For that, I can afford to look bad!

10) Don't drive
Not a popular thing to say on a car site, I know, but the fact is that if you can avoid driving, you'll save gas. Take the train, carpool, and consolidate your shopping trips. Walking or biking is good for your wallet and your health. And before you get in your car, always ask yourself: "Is this trip really necessary?"

Thursday, April 05, 2007

PMSI does not transfer When Original Security Interest Is Terminated and collateral is used for New Financingt by a new debtor

"A Purchase Money Security Interest Is Not Refinanced When the Original Security Interest Is Terminated and New Financing Is Used By a New Debtor to Acquire the Same Collateral"

The case of Lewiston State Bank v. Greenline Equipment, LLC, 147 P.3d 951, 61 UCC Rep. Serv. 2d 195 (Ut. App. 2006), holds that a purchase money security interest (pmsi) does not survive its termination when the same collateral is used by a different debtor to obtain new financing.

What happened: a secondary loan company (bank B) paid off the loan with the first bank (Bank A) that held the PMSI lien on farming equipment. This in effect satisfied the original loan, releasing the PMSI security interest. Debtors subsequently pledged the collateral to a 3rd company (Bank C), who's lien was perfected. Therefore, the court concluded that Bank C has a priority claim over bank B, since bank B never perfected their new security interest.

What's the short of it? A bank that wants to take over an existing PMSI should satisfy the existing debt and obtain an assignment of the existing lender's security interest for it to survive subsequent liens that may be recorded under the UCC thereafter.

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