My son, Gabe, was finally big enough to ride the ride. Note the apprehension ... "Did I make it?" Remember when you wanted to be big enough ... old enough ... WISE ENOUGH?
Serving the Carson Valley, Gardnerville, Minden, Genoa, Smith Valley, Topaz, Carson City, Dayton, Nevada. Jessie Wetzel/Jim Valentine/Lisa Wetzel RE/MAX Realty Affiliates
Truth In Lending Changes Take Effect July 30, 2009
Predatory lending practices played a large role in the recent global economic collapse. Those practices included funding loans with falsified information, hidden costs and charges. They also packaged subprime loans as prime loans and resold them to international investors. The resulting negative ramifications have been felt globally as the investments proved to be not what they appeared to be ... for the investor and the borrower. That has resulted in an assortment of laws and/or guidelines, Federal and State, intended to protect the consumer and the investor the latest of which takes effect on July 30th.
The new Truth in Lending Regulation (Reg Z) changes take effect for loan applications filed on, or after July 30, 2009. The new requirements apply to all mortgages secured by a primary or second home. Investor loans are exempt. Two main changes are the requirement of the lender to give a good faith estimate of loan costs within 3 business days after the loan application (early disclosure), and the lender may not now collect any fees before the disclosure is provided, except for a reasonable credit report fee.
More Reg Z changes:a) The escrow may not close until after a 7 day waiting period following the consumer's receipt of the early disclosure., b) If the annual percentage rate (APR) increases by more than 0.125 percent from the early disclosure amount, the lender must provide a corrected disclosure and wait an additional 3 business days before closing the loan. It is important to understand that the APR not only includes the interest rate on the loan, but certain other settlement costs. c) The consumer may modify or waive both waiting periods for a documented personal financial emergency, with some restrictions.
It is important to understand that the APR can be affected by something seemingly innocuous, but with the potential for major consequences. These can include an unlocked interest rate, a change in the loan amount, a product change (the loan product), rate re-lock due to market improvement, change in closing date, and changes to fees including settlement fees. Each of these items can occur innocently enough during the course of an escrow and, if too close to the scheduled closing date, can wreck havoc with the closing timing. Sample simple problem- if you put a home equity loan on during the transaction the initial disclosure period starts all over. With a home equity line of credit there is no impact.
Our advice: The changes aren't really burdensome, but they have the potential to delay escrows. It is important that everyone - borrower, Realtor, and lender - all pay attention to the details from the onset of the loan process to the funding. Minor changes can cause several days of delays. Delays can result in missed closing dates which can mean not only not moving on the weekend that you have arranged for with your friends and work, but can also mean a breach of contract that could cause you to lose the property in certain circumstances. All parties must be diligent in their efforts and communication on the loan and escrow process to minimize aggravation.
Getting a new loan? Better plan on at least a 30 day escrow period, and be diligent during the process. The longer the process goes the more opportunity there is for a "stick to meet your spokes". As changes occur during your escrow make sure of their consequence, if any, on your loan process.
When it comes to choosing professionals to assist you with your real estate needs ... Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-5472. carsonvalleyland@hotmail.com, www.carsonvalleyland.com
Our brother-in-law is a wonderful artist. This is another example of his beautiful work show casing our wonderful Carson Valley. Last week we featured his painting Sierra Nevadas. Enjoy!
The Carson Valley in Northern Nevada has the drama of light and shadow in all seasons. The Sierra Nevada range rises straight up from the valley floor. I liked the brightness of the cottonwood trees and desert Rabbitbrush up against the blue-purple mountains on this fall day.
I am proud to be a full time real estate professional and Waukesha County Realtor.I look forward to the opportunity to work with you in the purchase or sale of your next home! Contact me today!
Waukesha Realtor, Realtor in Waukesha, Waukesha County Realtor, Waukesha County Real Estate, Buy a Home, Sell a Home, Waukesha County, Waukesha, WI, Buyer Agency, ABR, Buyer Specialist
A very successful young woman treated all who worked under her like they were less than. She was mean and did not care who she hurt with her demanding haughty demeanor and words. All the office workers talked behind her back and everyone was in on letting each other know when ‘her highness' arrived in the office.
Long story short, she was in a bind and her whole life was in jeopardy because she was from Canada but violated her Visa. She threatens her assistant that he'll be without a job too if he doesn't marry her so he agreed. During the course of meeting her soon to be ‘in laws' she discovers what it's like to be in a real family (her parents died when she was young) and what it's like to love and be loved.
Last weekend we went to see the movie "The Proposal" and the whole story was hilarious from beginning to almost the end. In the end, she left his parents home and went back to New York without marrying and on her way back to Cananda.
He followed her and met back up with her in the office
..... and you'll have to go see the movie to find out the ending!
In the course of my life I have run across many people who became successful and trampled on everyone once they got to the top. They forgot who they really were.....where they came from. Bottom line...they let it get to their head.
A successful person (no matter how much money or fame acquired) amounts to nothing if they affect everyone around them in a negative way. All that fame and fortune does not fill that void that the person may have if all they care about is everything outside self.
I will remember where I came from.
None of us made it to the top overnight (depending what your "top" is)
I choose not to lose respect from any for the sake of a written word.
I will continue to be aware....of how I affect other people.
It's the nature of our business to be mindful online.
Papa, The Grandsons, And A Big Red Rocket ... Happy Fourth of July!
All day, all night, and all day again with the grandsons for the Fourth of July is a wonderful way to celebrate the freedoms we enjoy as citizen of this great country!
"Life, Liberty, and the Pursuit of Happiness" translated this weekend for to "BBQ Ribs, Irrigating the Fields with Papa, Swimming in the Canal, Sleeping Outside in the Travel Trailer, and ... Launching a Big Red Rocket!
Who Need Photo Shop When We Live In Carson Valley, Nevada?
Yesterday morning I was up early, blogging a bit and sipping some coffee to start the day, I noticed some beautiful sunrise clouds above the Sierras. The cool crisp morning is my favorite time of the day!
Sometimes Mother Nature Lights Up The Sky! Happy Fourth Of July To You All!
We are always amazed at the truly lovely sunsets that grace our skyline every evening! Carson Valley is such a beautiful spot to live and work! We count our blessings daily!
Gotta love the Bistro life ... even if your 16 year old wants his bottle in the picture. This is the second picture we took - the first was very Parisian if you know what I mean.
Serving Gardnerville, Minden, Carson Valley, Dayton, Carson City, Smith Valley and Northern Nevada for 30 years. Call us with your Northern Nevada needs.
Jim Valentine / Lisa Wetzel RE/MAX Realty Affiliates, 1320 Highway 395, Gardnerville, NV 89410
Lisa Wetzel and Jim Valentine have been selling real estate in Northern Nevada over 30 years. They work at RE/MAX Realty Affiliates in Gardnerville, Nevada. All blog entries are based on their combined experience working daily as top producing real estate agents in their market. Feel free to post your questions or comments.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
A very successful young woman treated all who worked under her like they were less than. She was mean and did not care who she hurt with her demanding haughty demeanor and words. All the office workers talked behind her back and everyone was in on letting each other know when ‘her highness' arrived in the office.
;)
;)
