Home Improvement

One source for do it yourself home improvement contractor help with tips and tutorials on all your home repairs, remodeling and redecorating. Our goal is to make your Home Improvement projects easy, inexpensive, energy saving and rewarding. Nothing matches the satisfaction of a job well done.

You will find step by step instruction and money saving tips on all your projects including house painting, wallpaper, kitchen remodeling , carpentry, home insulation, woodworking, electrical, plumbing, air conditioning and heating, flooring, masonry, concrete, wood decks, interior decorating, gardening, how to save energy, reduce your utility bills and more.

Are you interested in DIY home improvement tips? Maybe you are already actively improving your home all by yourself. Either way, there is always something to learn about home improvement, and advice or tips to gain for doing it yourself. DIY home improvement tips can come from all over; the key is to keep your eyes and ears open, and also know where to look or who to talk to.

If you are a different type of learner who needs a person-to-person consultation, then that is easy to do as well. Simply visit businesses in your local area that specialize in things related to home improvement like a hardware store, or a nursery if its outdoor work you are planning. At these types of businesses youll be able to find someone to talk with, like an employee that works in or with the specific department that relates to the project at hand. Most likely you are going to have to visit these types of businesses anyway to purchase the necessary supplies, tools, and materials to carry out your project. They will be able to consult with you, and answer any questions or concerns you may have.

If youre a hands-on learner, then do some research in your local area on instructional workshops and classes on DIY home improvement that you could attend. This is the best way to get some basic or more detailed DIY home improvement tips, as well as all the newest ideas that experts have been developing.

We will find the right contractor for your project. Describe your project needs. We will search for the right professionals. Contractors will call you directly and you let the work begin!

Home Improvement

Wireless Doorbells are a relatively new product to the doorbell industry. However, they have improved significantly even a short time to try to take market share away from wired doorbells. Here, are few of the pros and cons of both versions on what people care about the most:

1. Performance depends on your home setup.
Generally, wired doorbells will out perform wireless doorbells. This is because a direct line tends to be more effective than wireless versions. However, this is not always the case, some homes or apartments cannot use wired doorbells for various reasons. In these situations, wireless doorbells shine. In addition, in smaller size homes, the distinction of performance is irrelevant as both models perform equally. For larger home’s wired doorbells still hold a slight lead hopper long range wireless doorbells have closed the gap. In the coming years, we should anticipate the wireless doorbells will outperform wired versions and performance regardless of range limits.

2. Prices are very similar.
Doorbells tend to be cheap in comparison to other consumer products. Whether you choose a wired or wireless doorbell, most versions will run under $100. This is great news for families on a budget. However, it is also great news for wireless doorbell buyers, because it means that they will not have to break the bank to get the benefits of a wireless version.

3. Wired offer better design options, but things are changing.
Since wired doorbells have held an established position in the industry for a long time, it is only natural that most of the design options are wired versions to date. However, wireless versions are improving, and we seen more and more clever designs coming out every year. Reality is you should have no difficulty finding a design that matches your personality and home dcor interests.

4. Wireless wins in flexibility and versatility.
When it comes to flexibility and versatility, wireless doorbells blow away the competition. Since they have no wires, and much faster installation and can be moved around the house with little difficulty. This is great for remodeling and home improvement projects and for families looking to sell their home. Is it is far easier to take a wireless version with you rather than a wired doorbell.

By looking at all these advantages and disadvantages, it is too close to call on whether wireless doorbells are better than wired doorbells. Since each home is unique, you should try to find a version that will match your home the best.

Home Improvement

Making changes to your home can seem like a lot to undertake, as well as, a lot to bother yourself with. If you have a bit of information on making improvements to your home though, it can be easy to see how simple, quick and easy projects, can make as much of a difference as those time consuming, costly ones. This article will attempt to show you how to make those changes in a good way.

Air Conditioning

Clean the filter of your air conditioning as clean as possible. Whenever the filter is dirty, your air conditioner will be forced to work harder in order to keep a cool home. As a result, more energy will be used, which means more money will be coming out of your pocket. The unit might also end up running much longer than it ought to. You need to change the filter once a month.

It is crucial that you always change your air filters when needed. Not only does it make your home’s inside air healthier, but it also keeps the air and heating unit working properly. Many of the service calls that these repairmen face are due to build up that has gotten into the machine from dirty filters.

Never install non-operable windows during a home improvement effort. Except for picture windows or large, exotic glazing, every standard-sized window should be capable of opening. Regardless of climate, for every home there will be times of the year and times of the day when cracking the window open is the best form of air conditioning.

An air conditioning unit is not one of most attractive appliances. In certain areas, though, air conditioning is an absolute necessity. A trellis, screen, or fence can conceal your air conditioners and make your landscaping look better. One other option is to use large, ornamental grass. Remember to leave space for the roots to grow.

To make sure that you’re always getting the most out of your air conditioning units, always remember to clean those filters. Especially if you have a large central machine attached to the home, it’s vital that the filter remains clean so that the machine doesn’t have to work too hard and burn itself out prematurely.

To keep your heating and air conditioning system in top shape, clean your air ducts at least once a year. It is a chore that no one really wants to do but it certainly easy enough to do on your own. During your inspection of the ducts, please note that if you see any mold growth you should call a professional.

An excellent home improvement and way to save money is to install a whole-house fan. These are excellent sources of energy savings because they typically use one-tenth the electricity of an air conditioner. If you live in an area where air conditioning is not necessary year round, this is a great alternative to central air.

You have a home and you want to make it an extension of yourself. If you have never done anything like that before, knowing where to start can overwhelm you. As was stated in the beginning, all it takes is a bit of information. That information was presented to you here, so that you can have the home you have been wanting.

Home Improvement

We paid $90,000 for a fixer-upper 3 years ago. We put $30,000 into it. 3 months ago, it appraised for $241,000. Magic? No, Sweat Equity!

Financial Benefits:

Sweat equity isn’t just for resale value. It also helps with refinancing. That $30,000 I mentioned in the last paragraph was all on high-interest credit cards. When our renovations were complete, we refinanced our home and paid off all of our credit cards, reducing our monthly payments by 30%. That still leaves us with 50% equity in our house.

When you have a mortgage, you want at least 20% equity in your home. Not only could this make a difference in your interest rate, or even just qualifying for a loan, but having 20% equity should eliminate that nasty little PMI (Private Mortgage Insurance) that nibbles away at your principal payment each month, if you have a 90% or 100% mortgage. A few good sweat equity projects could be just what you need to refinance your house and get a better deal. Note: be sure your renovations are 100% finished before trying to re-finance. Appraisers dont want to see any work in progress.

If you have a good 1st mortgage, no second, and carry any other kind of debt, like car payments or credit card balances, sweat equity can help you qualify for a home equity line of credit. We found one with Bank of America (who holds our first mortgage) with no fees of any kind. Its completely free unless we use it. If we dont use it, we pay nothing, just like a credit card. Now, if we need a new roof or a new truck, its already financed, at a low rate of interest, which is also tax deductible. If you like your new mortgage company, a good plan is to make 3 or 4 payments on time with your new loan, then apply for the line of credit. This way, they still have current credit and appraisal information to make the loan process go more smoothly. Ours was handled with just a couple of phone calls.

The psychic rewards of sweat equity:

Being able to show off a home improvement project that you did with your own two hands, is a great feeling. Not only will you have the satisfaction of accomplishing something, but the results will be unique. Your project will never turn out exactly the same someone elses.

Another benefit is having something custom, so the result enhances the original space, accommodates your furniture or collectors items, and compliments your taste. One of our favorite projects was adding custom cabinets to a finished garage. Instead of trying to squeeze our treasures into pre-existing cubbyholes, we measured our stuff and built the cabinets to suit. Then we truly had a place for everything and everything in its place.

Finally, you’ll get to enjoy the results and know that the project cost way less than if you had hired someone else to do the work. If youre on a budget, this could mean the difference between having what you want and doing without.

Gardening

Shemya Island, is also referred to as the Black Pearl of the North Pacific Ocean, because of it’s black sandy beaches. This is a result of millions of years of volcanic activity. Shemya is located at the far western edge of the aleutian chain of islands and is part of what is known as the ring of fire. An area of active seismic/volcanic area that stretches from South America northward to California into Alaska and along the Pacific Rim of asia. My time spent on this tiny 2 miles by 4 miles was a weatherman’s dream. The daily climate was harsh with few exceptions. Annual temperatures are moderate for that far north of a latitude. Winter storms were violent, frequently accompanied by gale to hurricane force winds. It was difficult to measure snow because high winds would constantly blow it horizontally.

Late spring to early fall was a constant pea soup fog. And the sun was a rarity. On a few clear winter nights, we were treated to the Aurora Borealis. If your interested in reading on, below you will find more information on this tiny little island called SHEMYA. Historical temperatures as well as climate data can be found Climatic Data Center.

The following excerpt is a historical account from the army air corp during world war 2. The Alaskan Air Force was activated on Elmendorf Field 15 January 1942 to manage the buildup of the Army Air Forces in Alaska. It was redesignated the Eleventh Air Force on 5 February 1942.

Following the Japanese bombing of Dutch Harbor in the eastern Aleutian Islands and the occupation of Attu and Kiska in the western Aleutians in early June 1942, the Eleventh Air Force launched an air offensive against the Japanese on the two islands.

Missions were flown initially from Cape Field on Umnak Island in the eastern Aleutians and later from fields built on Adak and Amchitka. Headquarters Eleventh Air Force was moved to Davis Field, Adak in early 1943. Attu was retaken in May 1943, and the Japanese withdrew their garrison from Kiska in late July.

The Aleutian Campaign ended with the reoccupation of Kiska on 15 August 1943. Primarily an air war, it was the only World War II campaign fought on North American soil. The Eleventh Air Force flew 297 missions and dropped 3,662.00 tons of bombs. One hundred and fourteen men were killed in action, another forty-two were reported missing in action and forty-six died as a result of accidents.

Thirty-five aircraft were lost to combat and another 150 to operational accidents. It was the highest American combat-to-operational loss ratio of the war. Weather was the prime culprit, especially the Winter Climate.

The Eleventh Air Force accounted for approximately 60 Japanese aircraft, one destroyer, one submarine and seven transport ships destroyed by air operations.

Following the occupation of Kiska, the Eleventh Air Force declined from peak strength of 16,526 in August 1943 to 6,849 by the end of the war. For the remainder of the war, it flew bombing and reconnaissance missions against Japanese military installations in the northern Kurile Islands from Attu and Shemya Islands. The first land based bombing mission of the World War II against the Japanese home islands was launched from Attu on 10 July 1943.

The Eleventh Air Force was redesignated the Alaskan Air Command on 18 December 1945, and its headquarters was moved from Adak to Elmendorf AFB on 1 October 1946 to better manage Alaska’s emerging air defense system.

Alaska’s air defenses were greatly expanded during 1945-1955 period. An extensive aircraft control and warning (AC&W) system was constructed along Alaska’s coast and interior. The Alaskan segment of the DEW Line was built, and later the DEW Line was extended to the eastern Aleutian Islands.

By 1957, AAC had reached the height of its strength with over 200 fighter interceptors assigned to six squadrons. Early warning and fighter direction were provided by 18 aircraft control and warning and 12 DEW (defense early warning)Line sites tied together by the White Alice Communications System. Its assigned strength was 20,687. The forces were organized into two air divisions providing “Top Cover for America.”

The late 1950s and the 1960s saw a major reduction in AAC’s forces as Air Force air defense doctrine began changing, and emphasis shifted to a defense against a mixed threat of missile and bomber attacks. The number of fighter interceptor squadrons shrunk to one, the air divisions were inactivated, and the aircraft control and warning sites reduced to 13. The assigned strength dropped to 9,987 by 1969. The Aleutian DEW Line segment was dismantled. Emphasis shifted towards supporting other commands.

The manpower intensive, 1950s era aircraft control and warning system radars were replaced with minimum attended AN/FPS-117 minimally attended, long range radars. The system achieved its operational capability in October 1985. The outdated, semi-automated Alaskan NORAD Control Center was replaced with the fully automated Regional Operations Control Center.

Further improvements were made to the force structure with the arrival of F-15As in 1982, upgraded to “C” models during 1987-86. On 1 July 1986, the 962nd Airborne Warning and Control System Squadron was activated at Elmendorf AFB to operate two E-3 Sentry aircraft on rotational duty to Alaska. (The aircraft were later assigned to the squadron.) A second F-15C squadron was added the next year. The modern radar system, the F-15s and the E-3 resulted in a greater capability to protect the air sovereignty of North America. The number of Soviet aircraft intercepts increased dramatically from an average of ten a year during the first half of the 1980s to a record of 31 in 1987, after which the numbers began to decline dramatically following the breakup of the Soviet Union. Four Russian aircraft were intercepted in 1993.

One of the most singular events affecting AAC was the disestablishment of the Alaskan Command on 1 July 1975. The Commander, AAC assumed the additional responsibility of Commander, Joint Task Force-Alaska, a provisional joint command that could be activated in the event of an emergency, such as the Exxon Valdez oil spill in March 1989.

The Alaskan Command was reestablished on 7 July 1989, as a subordinate unified command under the U.S. Pacific Command in recognition of Alaska’s strategic importance to the defense of the Pacific.

With the activation of the Alaskan Command, the next logical step was to place its air component (AAC) under the Pacific Air Forces. On 9 August 1990, the Alaskan Air Command was redesignated the Eleventh Air Force. Finally, in keeping with Air Force Chief of Staff guidance to retain the most illustrious units, the 343rd Wing, a veteran of the Aleutian Campaign, was inactivated in August 1993. The 354th Fighter Wing was activated in its place.

The mission of the Eleventh Air Force shifted during the early 1990s from defending Alaska against the Soviet Union bomber threat to committing its forces to worldwide deployment and providing training opportunities for others.

Home Improvement

The sun has been with us from the beginning. Because of the high cost of energy bills, the interest in discovering alternative energy has grown. Solar energy is a great option for several nations that get a lot of sunshine. With every technological improvement and the fall in price, thousands of households today are switching over to solar energy. Your home can produce quite a bit of electrical energy even if you just have a couple of solar panels and very little sunlight. Incorporate to this the fact the money necessary for a normal pv panels installment is now substantially less than it had been not too long ago then this absolutely does become a practical electrical power alternative like never before.

One problem is that most households are not situated right for taking advantage of the sun. More efficient designs today, however, have made it easier to generate electricity without requiring a lot of sunlight. The contemporary solar panel system are set up at a more steeper angle so homes that are not positioned to obtain a lot of sunlight can still create electricity. Many systems these days use a rail system which allows the solar batteries to be set for optimal exposure. Moreover, the design of the system is set up for easy expansion and growth.

Before setting up a solar energy system, you must know your electricity requirements. Once you have worked out your household electricity consumption, you will know how big a system you will need. If you have a limited budget, you can start small and see if you need to expand later on. Using this system as an alternative, in the coming months, you should be able to lower your expenses by 85%. You can start out with a solar panel system that runs the outdoor lights then gradually have it setup to power the electricity in your house. However ultimately as a consequence of the total that solar panels now have decreased in selling price in recent times well then, your recommended looking for a full installment to truly employ the potential for your own home .

The inverter is the most crucial thing to consider when you are putting in your solar panel system. You have to make sure that you have the right size because the inverter will convert DC to AC. If you pick the wrong size, your system will be unable to meet your power needs. Even with a smaller solar panel system, it is advisable to have a larger inverter, so you will only need to wire them in, when you expand your system. Don’t try to install the inverter yourself, but hire a certified electrician to put it in for you. The danger comes when the solar panel system has to be connected to the electrical system of the house. Don’t try this on your own unless you are a certified electrician.

If you want a reason to get a solar energy system, the state and federal governments are giving homeowners incentives to install their own system. You can install your own clean energy system without spending much of your own money. This is a fantastic beginning to trying to live a green lifestyle. It can be this kind of endeavours that this is hoped will look to make use of the solar pv panels and alternative energy in most cases into the general audience a lot more than previously.

House Plans

Conquering and using affordable house plans for constructing amazing homes are very common today. Doing so would lead you to saving hefty funds. With cheap home plans, breaking a bank would not be a prerequisite or a liability. With affordable home plans, producing outstanding dwellings would be reachable. That justifies why you want to conquer cheap house plans because aside from the fact that you would be able to save funds from it, you would be able to construct stellar dwellings too.

When you are definite about constructing houses, the first step that you want to take is to obtain less expensive home plans. You are doing it, not only for economical reason but for practical reason too. What is important is that you would be able to create magnificent homes out of something ordinary but superb cheap house plans.

Why getting and utilizing less expensive dwelling plans for constructing houses is a great idea? Well, it is a fantastic idea because of the following justifications:

Dispensing Fewer Funds

Do you want to protect your savings from not being used for acquiring home plans? If you do, then acquiring affordable house plans would be an excellent option for you. That is definitely one way of protecting your savings from not being spent for home plans. That is the way how to save cash. After all, squandering less money for dwelling plans is always on the top of your list. With cheap house plans, you dispensed fewer funds but you gained great plans. How cool is that?

Practical and Economical

When you aspire to be practical and economical in terms of spending cash for home plans, the best thing that you can do is to grab less expensive house plans. Doing so would be economizing and certainly, friendly to your wallet because you do not need to shell out a colossal amount of money for it. Constructing grandeur homes using cheap house plans would be a fantastic idea.

Cheap Home Plans Are Available Online

As contractors or prospect homeowners, availability of dwelling plans through the internet must be definite. The greatest thing about cheap house plans is that these types of home plans are widely available on the internet. This is certainly positive news for you if less expensive dwelling plans are what you desire to use for constructing dwellings. Affordable dwelling plans are, without question, visible online.

Knowing that there are beautiful benefits that you gain from affordable house plans, surely, you would love to begin your journey for constructing houses with it.

Home Improvement

When the cold breeze starts to blow in and summer time comes to a halt you’re forced to say goodbye to poolside leisure and fun. Unless you’re brave enough to take a plunge in the cold water then it will remain a distant memory until the warm weather decides to return.

When the warm weather returns and it’s finally time to jump back in, will your swimming pool be ready? There are important steps to take during the winter months to ensure your swimming pool is safe and ready for the summer time air.

Location matters the most when considering how you’ll tackle your pools winter maintenance. If you live in the north odds are you’ve already winterized your pool already but if you haven’t there are a few things to keep in mind. Draining and covering your pool and adding antifreeze to your pipes can save your pools life. If you’re someone who lives in an area where winter only occurs for a short period then there’s not much you have to do. Most pools are installed with freeze-fighting equipment that can handle short time winter months.

Down here in the south true winterization isn’t completely necessary, says Dominick Pizzuto, owner of On Time Pool Company. “We install a two-speed pump that allows for chlorination and filtration year-round, as well as a freeze protector in all of our pools.”

Chlorinating your pool year round really isn’t that much work. In the winter your chemical usage will be a fraction, up to 1/3rd, than you would use during swimming season. It is still best to clean your pool thoroughly, shock and clarify your pool before closing up shop for the winter. If you decide to cover your pool then you can limit the chemical usage even more! By investing in a safety mesh cover you won’t have to drain your pool to prevent the water level from rising. This ensures that leaves and people stay clear of chilly water. If you want the best protection for your pool a LOOP_LOC Model is highly suggested. These can withstand an elephant’s weight so all children, pets and clumsy adults will all be safe and accident free.

In warm environments you’ll be able to install freeze protectors. The freeze protectors act to shift the pump into the highest gear when the temperature drops below 32 degrees. The max speed allows for an optimum flow during freezing temperatures and prevents any damage to the pools pipes and plumbing.

If you aren’t sure about the process involved to ensure your pool is preserved this winter call your san antonio pools and accessories company. With the proper tools, winter maintenance will be a breeze. Discuss winterization with your local pool company on what steps a pool owner might take to prepare for the winter months in your area. Freeze damage is the last thing you’ll want to take care of when it’s below freezing outside.

Home Improvement

Wine refrigerators are generally electrical equipment to keep wine bottles in the most suitable circumstances to sustain the wine’s quality, temperature and bouquet for a chosen length of time. Every one of the parameters that preserve red or white wine at it’s best possible quality may be manipulated by a wine bottle chiller, for example differing humidity and temperature ranges.

Colored Glass Stops Ultra-Violet Light From Reacting With Wine..

Colored glass doors additionally safeguard the wine from harmful ultra-violet illumination. Shelves are usually set at an angle, as well as created to store each and every wine bottle in the perfect situation. They are available in many different dimensions, designs and cooling down strategies with diverse capabilities and costs.

Ascertain How Many Wine Bottles You Wish To Chill?

You will find a number of refrigerators to select from, although an essential factor could be the measurements your wine fridge, in order that it suits the ideal area within your cooking area – and also supports the quantity of wine bottles you are looking for. For many people who would like to keep just a few bottles at any given time, modest wine coolers are generally satisfactory.

Stylish Wine Chillers Come In A Variety Of Sizes..

They are going to store usually 6 to 18 wine bottles, whereas a medium sized chillier will retain 20 to 44 bottles. More substantial refrigerators for the really serious wine beverage enthusiast holds more than 90 wine bottles, but obviously will cost more. One fundamental aspect to consider will probably be the quantity of wine bottles you would like to have in a position for offering at any one time period.

Accurate Management Of Wine Humidity And Temperature..

The most significant wine storage chillers are generally employed in hotels and large clubs, where a great deal of wines are kept in order to age and in addition serve regularly. These coolers may be the standard basement type, however permit significantly greater management of humidity and temperature.

About Stocking Red Colored Wines And Maturing..

A few refrigerators possess three diverse temperature specific zones. One is for maturing wines and stocking red colored wines, one for cooling white wines and the third for cooling sparkling wine beverages or Cava. One example of these refrigerators will surely cost in the thousands and may be most suitable in warm environments.

The Ideal Wall Mounted Wine Cooler At Eye Level..

Refrigerators are available in diverse structures and proportions to adjust straight in to many household surroundings. For individuals who lack kitchen counter and floor area, you have the revolutionary style of a wall-mounted wine fridge, which can be small, but supply a 6 bottle wine bottle chiller. Possessing it at ‘eye level’ also offers easy accessibility.

Below Counter-Top Or Free Standing Wine Bottle Chillers?

A number of people just like a kitchen counter chillier because they do not take on up much floor area and therefore are straightforward to reach, demanding absolutely no twisting, although some would rather have below counter-top wine refrigerators. Many individuals go for free standing wine bottle chiller units.

A Wine Refrigerator As Part Of Your Own Home Decor..

The more costly choices are to possess a built-in chillier, which is located in-line with the remainder of the kitchen cabinetry. A chillier for wine may be an integral part of your own home furnishings, as well as increasing the style of the space. Suppliers possess many different designs that you can select from.

Display Or Show-Off Your Wine Presentation..

Wine coolers currently offer diverse substance and color surface finishes, for example stainless-steel, chrome and silver colors. You can select refrigerators together with strong doors to help keep out the light, but many prefer to display their wine presentation, so glass which has been processed against UV is usually selected.

Chillers Offering Unique Stylish Interior LED Illumination..

Glass is generally refractive or colored. Contemporary styles provide digital touch-button adjustments as well as electronic display screens. Several wine refrigerators also provide unique interior LED illumination in order to show off wine beverages. For a functional characteristic, numerous possess pull-out and adaptable shelves, as well as reversible door swing action.

Wine Coolers Bring Ambiance And Elegance To Your Home..

In addition, to safeguarding your investment, refrigerators are available with security measure locking mechanisms. Furthermore, wine chillers maintain your wine at it’s absolute best, additionally, they enhance and bring an aura of elegance to your residence. They have become an important equipment to contemporary style households.

There are several more home improvement articles to be found on our site www.designrhome.com relating to home appliances, designer accessories, furnishings and electricals on our UK website, so Visit Us!

Home Improvement

The Mortgage Disclosure Improvement Act goes into effect on July 30, 2009. Please understand that this is federal legislation that could affect your closing date. All mortgage professionals must comply with the requirements as noted below. A loan cannot close or fund unless it has met the requirements listed below. The requirement is applicable for all mortgage loans (unless exempted as noted below). It has been implemented to protect the consumer, but it could cause delays in the closing.

On July 30, 2008, Congress enacted the Housing and Economic Recovery Act of 2008 (HERA). Within HERA, Congress included amendments to TILA which are known as the Mortgage Disclosure Improvement Act of 2008 (MDIA). On October 3, 2008 Congress further amended the Mortgage Disclosure Improvement Act as part of the enactment of the Emergency Economic Stabilization Act of 2008 (Stabilization Act). With the enactment of HERA and the Stabilization Act, the Federal Reserve Board is now amending Regulation Z with all provisions of the MDIA and making these changes effective as of July 30, 2009.

The immediate changes you need to know about MDIA requirements are as follows:

1. MDIA implements a 3-7-3 rule that creates new timing and waiting requirements with regard to the issuing of Truth-in-Lending disclosures and when closing can occur. The 3-7-3 rule requires the lender to:

a. Upon the taking or receipt of a loan application, provide an initial Truth In Lending(TIL) to the borrower(s) within 3 business days of the application (no change to current requirement).

b. Impose a waiting period BEFORE allowing a mortgage loan to close. The waiting period requires a lender to wait until the 7th business day following the delivery or mailing of the initial TIL to the borrower(s) before a creditor may close any loan. The 7 day period may be waived only if there is a bona fide and/or extreme and/or urgent reason to do so. This would be handled in the same manner as a waiver of rescission, which is virtually impossible to achieve. Therefore, there will be virtually no waivers of the 7 day waiting period.

c. Impose an additional 3 day waiting period before a loan may close in any instance in which the Truth In Lending(TIL) is outside of regulatory tolerances (e.g., for regular or fixed rate loans more than .125% and for irregular loans more than .25%). The 3 day period begins with the mailing of the TIL. A corrected TIL is required whenever a TIL is outside of regulatory tolerances.

d. The TIL may be mailed via regular mail or overnight or by e-sign or e-mail. However the lender sends the TIL, they must still comply with the 3 day waiting period. MDIA does not assume a quicker waiting period might occur and does not allow the lender to proceed until after the 3 day waiting period has ended.

2. Lenders can under no circumstances collect any upfront fees prior to the consumer’s receipt of an accurate TIL unless the fee is to cover the cost of the consumer’s credit report.

a. The fee collected must be bona fide and reasonable (no padding of fees and do not collect a fee unless the consumer is actually responsive if there was no intent to charge them for the credit report).

b. A lender and third party such as a broker must adhere to the same rules regarding the collection of fees. If a third party forwards a consumer’s written application to a lender, both the lender and third party do not collect any fee, other than a credit report fee if a credit report was pulled.

c. If a third party forwards a consumer’s written application to a second creditor following a prior creditor/lender’s denial of an application made by the same consumer (or following the consumer’s withdrawal), where fees have already been assessed, the new creditor/lender or third party does not collect or impose any additional fee until the consumer receives an initial TIL from the new creditor/lender.

3. An initial Truth-in-Lending disclosure must now be issued on a closed-end principal dwelling and a second home whether transaction is a home purchase transaction, a new construction loan, or a refinance. Previously, initial TIL’s were not required on refinances. The changes continue to exclude issuing an initial TIL on an investment property loan or a HELOC.

a.. For a primary residence, any non-owner occupant must also receive a copy of any TIL that is issued.

4. A new required “Notice” will be added to the TIL advising a consumer they are not obligated to proceed with the loan if they do not wish to do so.

5. No initial TIL is required if a consumer withdraws or is denied within 3 days receipt of the loan application.

6. Under the amended rules, a business day is any day other than Sunday or a legal holiday – which is the same as the current rescission day definition.

7. Any waiver of the 3 or 7 day waiting periods must be treated the same as waiving rescission. There must be a bona fide emergency before a waiver request will be considered.

a. A waiver when granted may not be a preprinted letter. The borrower(s) must handwrite a request to waive the 3 day or 7 day period and must describe the bona fide emergency.

b. Any waiver requested and granted must be signed by all parties that take part in the transaction.

8. MDIA does not amend any requirements specific to HELOC loans.