Monthly Archives: July 2009

  • New Truth in Lending Rules Start 30 July 2009

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      If your buying a home or selling for that matter.
      You should be aware of the new Truth in Lending Rules that start at the end of July
      (Click on the title link to read the full 17 page section of the Federal Register)

      Realtor.org published the follow:
      NOTE: Remember these rules only apply to loan applications filed on or after July 30,2009. There is some talk that the closing of a home will be affected by the new rules. Really only time will tell but, I can't imagine closings getting any more delayed then they are right now with the HVCC rules on appraisals.



      Revised TILA Disclosure Requirements Take Effect on July 30, 2009
      Lenders will be subject to new disclosure requirements for mortgage loans under the
      Federal Reserve Board Truth in Lending Regulation (Reg Z).
      The new requirements apply to loan applications filed on or after July 30, 2009 (about two
      months earlier than originally planned).
      The new rules are complex and compliance will be a challenge for lenders.
      REALTORS® will want to learn the basics so they can advise clients of potential delays and
      the new procedures. Here are key highlights of the changes:
      • The new requirements apply to all mortgages secured by a borrower’s home, including
      primary and second homes and refinancings. Investor loans continue to be exempt.
      • Lenders must give good faith estimates of mortgage loan costs within 3 business days
      after the consumer applies for a loan (early disclosure). The lender may not collect any
      fees before the disclosure is provided, except for a reasonable fee for obtaining a credit
      report.
      • The closing may not take place until expiration of a 7 day waiting period after the
      consumer receives the early disclosure.
      • Consumers may shorten or waive the 3‐day and/or 7‐day waiting periods for a “bona
      fide personal financial emergency,” but only after receiving an accurate TILA disclosure.
      In the final rule’s preamble, the Fed stated that it “believes waivers should not be used
      routinely to expedite consummation for reasons of convenience.” The Fed decided not
      to insulate lenders from liability even where a consumer modifies or waives the waiting
      periods.
      • If the annual percentage rate (APR) changes by more than 0.125 percent, the lender
      must provide a corrected disclosure to the borrower and wait an additional 3 business
      days before closing the loan. The APR includes not only the interest rate on the loan but
      certain other costs related to settlement, so it will be important for any fees that affect
      the APR to be as accurate as possible, as early as possible, to minimize the need for a
      corrected TILA disclosure. - Realtor.org (http://www.realtor.org/RMODaily.nsf/files/RegZ.pdf/$FILE/RegZ.pdf)
    • This is why the book is named after a beer :: Milagros Boutique

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      • Movies in the Park

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          Summer is by far the best time to be in Portland. There are so many things happening it's hard to keep up. The Portland Park Department has already started the Movies in the Park series for this summer. But it's not too late to enjoy a free movie under the stars. And there are some good one's coming up. Enjoy at your local park or get to know a new park close by. (click on the link for a Full Events Calendar)
          DATE MOVIE / PARK
          SAT July 18
          Journey to the Center of the Earth in 3D
          Dickinson Park
          WED July 22
          Hairspray
          McCoy Park
          THU July 23
          E.T. the Extra-Terrestrial
          Holly Farm Park
          FRI July 24
          Madagascar: Escape 2 Africa
          Brentwood Park
          SAT July 25
          Dirty Dancing
          Colonel Summers Park
          MON July 27
          Singin’ in the Rain
          Laurelhurst Park
          WED July 29
          Madagascar: Escape 2 Africa (in Spanish, subtitled in English)
          Fernhill Park
          THU July 30
          Indiana Jones and the Kingdom of the Crystal Skull (subtitled for those with hearing disabilities)
          Argay Park
          FRI July 31
          Zathura: A Space Adventure
          Cathedral Park
          FRI July 31
          Kung Fu Panda
          Kenilworth Park
          SAT Aug 1
          Shrek
          Earl Boyles Park
          SUN Aug 2
          Indiana Jones and the Kingdom of the Crystal Skull
          Sellwood Park
          TUE Aug 4
          Charlotte’s Web
          Glenfair Park
          THU Aug 6
          Ferris Bueller’s Day Off
          Brooklyn Park
          FRI Aug 7
          Hairspray
          Willamette Park
          FRI Aug 7
          X-Men Origins: Wolverine
          Multnomah Arts Center
          SAT Aug 8
          Coraline
          Dickinson Park
          MON Aug 10
          Casablanca
          Laurelhurst Park
          THU Aug 13
          Hotel for Dogs
          Grant Park
          FRI Aug 14
          The Wizard of Oz
          Laurelhurst Park
          FRI Aug 14
          The Tale of Despereaux
          St Johns Park
          SAT Aug 15
          School of Rock
          Sewallcrest Park
          SAT Aug 15
          Iron Man
          Lents Park
          WED Aug 19
          X-Men Origins: Wolverine
          McCoy Park
          THU Aug 20
          High School Music 3: Senior Year (subtitled for those with hearing disabilities) Parklane Park
          FRI Aug 21
          Iron Man
          Irving Park
          SAT Aug 22
          Blue Hawaii (Salute to Elvis)
          Washington Park
          WED Aug 26
          The Longshots
          Peninsula Park
          WED Aug 26
          One Night in Frogtown
          Sellwood Park
          THU Aug 27
          Pirates of the Caribbean: The Curse of the Black Pearl
          Hazeltine Park
          FRI Aug 28
          Mamma Mia! (Sing Along)
          Washington Park
          SAT Aug 29
          Indiana Jones and the Kingdom of the Crystal Skull
          Laurelhurst Park
          TUE Sept 1
          Casablanca
          DeNorval Unthank Park
          FRI Sept 11
          The Neverending Story
          Multnomah Arts Center
        • Warm Fuzzies

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            I ran across these wonderful creations and LOVE them! Yes it's knit, Yes it's gloves, wraps & scarves. Yes it's hot here right now but it never stays this way. She's local and her stuff is so cute I just had to share. Did I mention the hand bags...I've gotta make room in my closet! How about a sale "Christmas In July"? Check it out, be fun and fashionable! Cofygirl http://www.etsy.com/shop.php?user_id=100719