The Toyota offering does receive a slightly better Environmental Protection Agency rating of 30 mpg (city)/37 mpg (highway) opposed to the 27 mpg/33 mpg of the Honda Fit. However, the new Honda Fit  does have lots of other positive qualities that make up for this miniscule difference in fuel-efficiency.

The new Honda Fit  has an impressive array of standard features with its base model like, a full suite of power accessories such as locks, windows and keyless entry. All three of these are not available on the Toyota Yaris, while the Honda Fit continues to offer air conditioning, cruise control and a 60/40 folding back seat. The Yaris again comes up empty in the cruise control department.

The Riverside 2013 Honda Fit really shines over the Toyota Yaris in terms of cargo capacity. The rear seats on the Honda Fit offer convenient storage bins under the back seat and that folding rear seats folds down nearly flat to open up 57 cubic-feet of cargo space; a measurement that places it near the top of its class.

Toyota and Honda have been long time rivals on a couple of different continents and through many different countries. When that battle hit American shores, the war for supremacy among compact car owners remains hotly contested today.

With gas prices seemingly never finding a hard ceiling, and with the need of people to still get the daily commutes and errands finished, finding a car with high fuel-economy and room to allow enough functionality to be worthwhile as a compact cargo hauler. Of the models that each automaker offers for comparison, the 2013 Honda Fit and the 2013 Toyota Yaris pop into mind for many.

The full lineup of new Honda inventory, including the 2013 Honda Fit, available from Spreen Honda Showroom is located at 25050 Redlands Boulevard, Loma Linda CA, 92354. Anybody interested in scheduling a test drive or have questions about sales and/or financing should call (909) 799-7070.

The highly touted 2013 Honda Civic offers potential owners a huge variety options at just about every turn to make the car that a customer finally takes home most comfortable for them.

The 2013 Honda Civic has been redesigned for second time in less than two years in a concerted response to what Civic owners and fans wanted in their new compact cars.

Most of the trim models of the 2013 Honda Civic are powered by a 1.8-liter, four-cylinder engine that produces 140-horsepower and comes with a five-speed manual transmission and front-wheel drive as standard equipment. Fuel-efficiency has always been a hallmark of the Honda Civic. That tradition is more than kept up with the 28 miles per gallon (city) and 36 miles per gallon (highway) the new 2013 Honda Civic records with its standard manual transmission.

Even at the entry-level trim model, the LX, the new Honda Civic has plenty of standard goodies that will please long time Civic fans and those new to the vehicle. Just some of the standard features that are available on the 2013 Honda Civic are power windows, doors and locks, air conditioning, tilting and telescoping steering column and cruise control.

As was stated earlier, the new Honda Civic is among the safest compact cars on the road after its most recent redesign. The IIHS, an independent and non-profit agency, gave the Civic its newly minted “Top Safety Pick+” award. To qualify for this award, a vehicle must receive a top score of “good” in at least four of the IIHS crash tests that are designed to measure crash survivability across a spectrum of common criteria. The San Bernardino, CA 2013 Civic got the highest scores possible in every test; a feat no other compact car has ever done before.

The Spreen showroom is located at 25050 Redlands Boulevard, Loma Linda, CA 92354.

Mr Bhattacharya’s career spans 28 years of professional experience in the Corporate World in the areas of systems, materials, finance, accounts and entire commercial functions including HR, Legal, Tax, etc.

He is a Chartered Accountant by profession from The Institute of Chartered Accountants of India and completed his articleship from Price Waterhouse.
Mr Bhattacharya is a Member of the Bosch Board in India and is the Joint Managing Director and Chief Financial Officer, responsible for commercial functions of the company. He is also a member of the RBDI board in India.

He is an Executive Committee Member and the Chairman of Consumer Affairs Committee of Automotive Component Manufacturers Association of India (ACMA). He was also the Vice Chairman of the Karnataka State Council during the year 2012-13.

During his past assignments, he served as Commercial Director of Robert Bosch Turkey (RBTR). Before his assignment in Turkey he served as Vice President responsible for the Commercial functions at Bosch for Nashik and Jaipur Plants in India. During 1998 & 1999, he worked in Stuttgart, Germany, on deputation to Robert Bosch GmbH as General Manager at the Feuerbach Plant, before which he was in-charge of Corporate Planning and Controlling for Bosch Ltd., India.

Prior to Bosch Ltd., he served in various management positions at IPITATA, INDAL and Titan Limited., in India covering Marketing, Manufacturing, Systems, Commercial and Purchasing functions.

Sandeep Kumar Maini, Director, Maini Precision Products Pvt Ltd has been elected as the Vice Chairman of CII Karnataka State Council for the year 2013-14.

Maini is the Director of Maini Precision Products Pvt Ltd since 1992. He is also the Chairman of Maini Group of Companies since 2007. The Group consists of companies that have Domestic and International Operations in the fields of Automotive & Aerospace, Plastics & Composites, Material Handling Equipments, Storage Systems, Electric Vehicles and All Terrain Vehicles.

The Maini Group is also the founder promoter of REVA, the largest selling Electric Car in the world. He was the Chairman of Reva from 2007- 2010 and now serves as a Director on the Board of Mahindra Reva Electric Vehicles.

Major initiatives in his career included the setting up of design and development centres across the organization as early as 1995, introduction of the concept of Total Solutions and Complete Customer Care in Material Handling, the first company to launch and produce Dock Levelers in India. In addition the Maini Group has several Joint Ventures and Strategic Alliances with Global Leaders in various sectors.

Mr Maini has been involved with Yi (Young Indians) since its formative years and has also chaired the Young Indians – Bangalore Chapter-CII in the past.

Zohra Chatterji, IAS, Secretary – Ministry  of Textiles ( MoT) and  K. Ramachandran Pillai, Chairman cum Managing Director, National Textile Corporation Limited (NTC), signed the Memorandum of Understanding between Ministry of Textiles (MOT) and NTC Limited.

Also present on the occasion were Sujit Gulati –(Joint Secretary –MoT), S.S Das (Director- MoT) & Functional Directors of NTC – R K Sharma – Director (Technical), Rakesh Kumar Sinha – Director (Human Resources), Aloke Banerjee -  Director (Marketing) and  P. C. Vaish – Director (Finance).

The all-new 2014 Acura RLX is the most powerful, spacious, and technologically advanced sedan in the history of Acura. Powered by an all-new 310-horsepower, direct-injected V-6 engine and featuring a host of Acura signature technologies, including Precision All-Wheel Steer™, Jewel Eye™ LED headlights, and the next generation of the AcuraLink connected car system, the RLX delivers new levels of technology-enhanced performance, comfort and connectivity in a luxury flagship sedan.

Using smart packaging, advanced aerodynamics, and lightweight body design, along with fuel-saving i-VTEC with Variable Cylinder Management engine technology, the RLX has top-class EPA fuel economy ratings of 20/31/24 mpg (city/highway/combined).1

In keeping with the Acura brand focus on “The Synergy Between Man and Machine,” the RLX utilizes an all-new direct-injection engine, lightweight body structure, and Acura Precision All-Wheel Steer™ (P-AWS™) to deliver a dynamic driving experience that truly reflects the will of the driver.  Whether on a serpentine mountain pass, congested city street, or cramped airport parking deck, the RLX with P-AWS™, is designed to deliver an unprecedented level of handling precision and control.

The RLX is equipped with the next-generation of the AcuraLink connectivity system, delivering a bevy of new information, media, convenience, and security services via embedded two-way communications and web-enabled devices. Along with in-vehicle integration for Pandora and Sirius XM, the new AcuraLink® system is the first Acura to apply Aha™ by Harman, a cloud-based interface that provides users with thousands of customizable media and connectivity choices. Next-generation AcuraLink® also delivers an array of available security and convenience features, such as AcuraLink Real-Time Traffic™ with the all-new surface street traffic information, airbag deployment notification, stolen vehicle tracking, remote locking and unlocking, security alarm notification and 24-hour personalized concierge services for restaurant reservations and more.

With a longer wheelbase and wider greenhouse than competing mid-luxury sedans, the new RLX delivers the most spacious five-passenger seating in its class in a nimbler package.  The RLX boasts the longest rear-seat legroom (38.8 inches), and best front (59.6 inches) and rear (57.0 inches) shoulder room in the mid-luxury class. The RLX body makes extensive use of high-strength steel and aluminum, further aiding its outstanding fuel efficiency, dynamic performance, and superior handling agility.

The new RLX comes with an incredible array of advanced driver assistive and visibility technologies, including a Multi-Angle Rearview Camera, Forward Collision Warning (FCW) and Lane Departure Warning (LDW); along with available Lane Keeping Assist System (LKAS), Adaptive Cruise Control with Low-Speed Follow, Blind Spot Information (BSI) system, and Collision Mitigation Braking System (CMBS).

Utilizing Acura’s next-generation Advanced Compatibility Engineering™ II (ACE™ II) body structure, along with seven airbags (including a new driver’s knee airbag), the RLX is anticipated to earn top-level safety ratings – a 5-star NCAP Overall Vehicle Score, and IIHS “TOP SAFETY PICK+” rating, including a GOOD rating in the IIHS small overlap frontal collision test.

“Customer satisfaction is the foundation of Lexus,” said Mark Templin, Lexus group vice president and general manager. “We’re proud of our dealers and their continuous efforts to exceed customer expectations and make Lexus the highest ranked brand in CSI for the 16th time, more than any manufacturer.

The 2013 CSI Study is based on responses from owners and lessees of 2008 to 2012 model-year vehicles.  The study was fielded from October through December 2012.  Lexus ranked highest in the J.D. Power and Associates Customer Satisfaction with Dealer Service (CSI) Study from 1991-1995, 1997-2001, 2006, and 2009-2013.

Lexus ranked highest in the J.D. Power and Associates Customer Satisfaction with Dealer Service (CSI) Study in 2013, 2012, 2011, 2010, 2009, 2006, 2001, 2000, 1999, 1998, 1997, 1995, 1994, 1993, 1992 and 1991 (tie).

What are fixed mortgage rates

When we buy a loan , the lender asks us to chose one from the fixed or the floating interest rates. In case we chose fixed interest rates the interest rates will remain unchanged till we repay the full loan amount. In case of floating interest rates, the loan interest is influenced by  the market. In other words floating interest rates decrease and increase with the prevailing market. While at times fixed rates are good , some times the floating rates appear fruitful as our loan EMIs go down . The borrower always dreams a low EMI which is only possible when the Banks reduce their base rates. Base rates are reduced when the repo rates go down.

Mortgage rates jumped to a 7-month high

Fixed mortgage rates showed a big increase this week, with the benchmark 30-year fixed mortgage jumping to 3.85 percent this week, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.35 discount and origination points.

The average 15-year fixed mortgage rate climbed higher this week (3.03 percent), as did the larger jumbo 30-year fixed mortgage, jumping to 4.18 percent. Adjustable rate mortgages were mixed, with the 3-year ARM slipping to 3.00 percent, the 5-year ARM rising to 2.82 percent, and the 7-year ARM inching up to 2.99 percent.

Mortgage rates jumped to a 7-month high following a report of robust job growth and encouraging economic data on business investment and retail sales. The benchmark 30-year fixed mortgage rate, now at 3.85 percent, is the highest since it was 3.91 percent on Aug. 22, 2012. Positive economic news leads to higher bond yields, as evidenced by the 10-year Treasury note climbing back above the 2 percent threshold. Mortgage rates are closely related to yields on long-term government bonds, with mortgage rates following suit and moving higher also.

The last time mortgage rates were above 5 percent was Apr. 2011. At the time, the average 30-year fixed rate was 5.07 percent, meaning a $200,000 loan would have carried a monthly payment of $1,082.22. With the average rate currently at 3.85 percent, the monthly payment for the same size loan would be $937.62, a difference of $145 per month for anyone refinancing now.

Bankrate’s national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets. The survey is complemented by Bankrate’s weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. More than half of respondents – 55 percent – expect an increase in mortgage rates over the next week. Only nine percent forecast a decrease and the remaining 36 percent predict mortgage rates to remain more or less unchanged over the next seven days.

What to do now

If the jump in fixed mortgage rates stops you need not to worry . But if the rates continue to jump it will adversly affect the real estate industry. The loan interest will go up and will stall the house buying and expansion plans. The growth of real estate or housing sector will also be affected as people will stop borrowing or will borrow with precaution as the EMI will be high. Higher interest rates will compel people to search for bigger jobs. Growth in employment opportunities also contribute to increase fixed mortgage rates as demand for housing goes up.

A jump in fixed mortgage rate is also a message to buy your dream house . Further jump will squeeze the market and buying a house will be expensive. So if you are planning to buy a house , it is the right time to take the decision. A jump in fixed mortgage rates will definitly increase housing demand  but you need not to take the decision hurridely . Just wait for the next week’s reports and then take the decision.

Photo courtesy: www.homeloanexperts.com.au

Generally the borrower is required to pay the principal and the interest of the loan till the mortgate period is over or the full amount of loan is paid. The bank or the lender then clears the lien or mortgate of the land and the title is cleared of any incumberances.

A loan modification is required when the borrower is not happy with the terms and conditions of the loan , wants to switch over the loan to another borrower , wants to sell off the mortgaged property or wants to raise another loan. But the term loan modification is used when the borrower wants to get the terms and conditions of the loan changed. Any modification in the loan structure  will result in different payment terms, interest  or repayment . A modified loan will result in reduction of  EMI amount , longer repayment period, capping of monthly payment or new default terms.

However, loan or mortgage modification is not an easy task. Till today the loan modification is an extremely complicated and time-intensive process . A property owner has to overcome many hurdles in order to get his application approved. First of all, it was very difficult to decide whether to go for modification or a short sale. As a result, people often end up making the wrong decision. Second of all, a person couldn’t have his application approved without passing the NPV test. This test has always been very important in the mortgage modification process. Third of all, it isn’t possible for applicants to challenge the decision of the lender. Lastly, the processing time of 8 to 12 months was extremely stressful for property owners.

To avoid foreclosure most people follow the conventional route: they submit their application along with a hardship letter, cash flow report and other necessary documents. In doing so, their aim is to paint a picture regarding their financial problems. Once the application has been submitted they have no choice but to sit back and wait for a response from the lender. Unfortunately this approach has many inherent problems.

With the passage of time , the importance of loan modification is became important and the lenders alro realised the genuinity of the demand. New ways and means are being devised to keep both the borrower and the lender happy. As the terms and conditions were tailored to suit the both , loan modification is becoming extremely popular among the borrowers. Creation of third-party analytical tools like Real Estate Services And Technology Report (REST Report) has simplified the loan modification process.

By using the REST report a person can quickly find out whether or not he qualifies for the modification program of his choice. In 48 to 72 hours the REST report can predict the outcome of an application and tell the homeowner whether he qualifies for the modification program of his choice or not. It can also be used to analyze a rejected application and find out how to get it approved by the bank.

Moreover, the report is also helpful in reducing the processing time. An application that has this document attached to it carries a lot more weight than a normal application. In most cases people using the REST report get approved for modification within a few months. The REST report has empowered thousands of property owners to get approved for mortgage modifications they deserve. Thanks to this system it is now possible to challenge the decision made by a bank. If a person is completely certain that he meets the criteria necessary for a modification he can take the matter to court and use the report as proof against the lender. The REST system was created to solve these problems and to make mortgage modification an easier, less complicated process for homeowners.

Tips to get your loan and mortgage modified:

1. Plan a loan modification as soon as possible

2. Consult a professional if you have any difficulty

3. Prepare a neat and clean financial information . Do not hide anything as it may result in rejection of application.

4. Contact your lender/Bank and submit your loan modification application. Also check www.makinghomeaffordable.gov  website to find out how US government is helping Americans to make the homes affordable.

5. Write an impressive hardship letter giving details why you want a modification.

Photo courtesy: wwwloanmodny.com

The drive will take place on the streets of the Range Rover Sport’s largest market – New York City. More Sports are sold in New York than any other metropolitan area in the world and the model is North America’s best-selling Land Rover product.

In a first for Land Rover, the event will be broadcast live to global audiences via a dedicated microsite – https://newrangeroversport.landrover.com/gb/en/. Those registering on the site will receive a personal invitation to watch the live reveal on 26 March as well as exclusive extra content and information.

The all-new Range Rover Sport is the latest addition to the new Range Rover family of vehicles and the third Range Rover model to be launched in two years.  It follows the launch of the acclaimed Range Rover Evoque in 2011 and the peerless all-new Range Rover in 2012.

John Edwards , Land Rover Global Brand Director, said: “The all-new Range Rover Sport takes the model to another level. It is Land Rover’s most dynamic vehicle yet and showcases the best of British design, engineering and technological innovation.”

Selfhelp Community Services and Kimmel Housing Development Foundation on Monday announced a joint venture which will develop affordable housing project in Long Island. The venture will expand access to quality housing and services in other underserved areas too.

“We are delighted to have the opportunity to work with Selfhelp to address the critical need for affordable housing on Long Island and far beyond,” notes Howard Kimmel , founder and Chairman of the Kimmel Foundation.  “Selfhelp can bring many of our initiatives, such as shared apartments, to new markets.  And our tenants will certainly benefit from Selfhelp’s proven expertise in technology-aided independence, award-winning learning programs for seniors, and our shared commitment to building communities rather than mere residences.”

The Kimmel Housing Development Foundation has a mission to create affordable housing for low and very low income people: seniors, working families, single heads of households, veterans and others with special housing needs.

Established initially as the Anna and Phillip Kimmel Foundation, KHDF has developed and maintains two residential buildings in Nassau County recognized as models for suburban affordable rental housing.  Apex I and Apex II have earned renown for including a number of units designed as “shared housing” for non-related individuals, thus providing maximum affordability and mutual support.

Photo Courtesy: The Kimmel Housing Development Foundation