Something Random

[ddrueding]

Trying to reconcile a GFE (Good Faith Estimate) with a Truth in Lending Disclosure Statement. They arrived in the same packet, and I know that they are about the same loan, but 99% of the numbers are not the same. I know that they are being calculated differently, and include or exclude slightly different things, but damn this is tricky. There also isn't a single line in either noting the actual amount of the down payment, or the total amount at signing.

I wish they would have the balls to just state the following:

We are lending (you) (this amount) to purchase (this property).

Bring a check for (this) amount on (this) date. Be prepared to pay (this) amount every month, on the first of the month, for (this many) months. This includes all fees, charges, and mandatory services.

 

[LunarMist]

That is what attorneys are for.

 

[LunarMist]

SR has gone whacko with the new forums. My old links no longer work. There is a lot more activity now though.

 

[Chewy509]

SR has gone whacko with the new forums. My old links no longer work. There is a lot more activity now though.

Haven't been to SR since they revamped the forums... But there does appear to be new-blood in regards to membership, but very few of the original SR members have gone back.

 

[LunarMist]

I'm not sure when they did that.

 

[Pradeep]

That is what attorneys are for.

Yeah u got to get your real estate lawyer looking at that. If the numbers don't match that's a huge red flag.

 

[Pradeep]

In this case the gfe is the bullshit they've spun, the TIL document has significant penalties for false numbers.

 

[Pradeep]

Assuming your real estate taxes etc are in escrow thru this loan you must be prepared for monthly payments to increase

 

[ddrueding]

After a few nights digging through and creating my own spreadsheet breaking out all the values in a more sensible way, it seems to all add up. Whoever thought that the way it was presented was useful should be shot.

We'll be able to adapt to the payments; including tax, insurance, etc, it will only be about 35% of take-home income.

 

[Chewy509]

We'll be able to adapt to the payments; including tax, insurance, etc, it will only be about 35% of take-home income.

That's still pretty good. I know a lot of people I work with who have home loans are at the 50% mark of take-home income. (And it will only get worse, as local economists are predicting that the cash rate as set by the Australian Reserve Bank will increase from it's current value of roughly 4.25% upto 7% within 3 years, which translates into a home loan rate going from 6.5% up to 10% for borrowers).

 

[Pradeep]

After a few nights digging through and creating my own spreadsheet breaking out all the values in a more sensible way, it seems to all add up. Whoever thought that the way it was presented was useful should be shot.

We'll be able to adapt to the payments; including tax, insurance, etc, it will only be about 35% of take-home income.

You will have a lawyer with you at the closing right?

 

[ddrueding]

You will have a lawyer with you at the closing right?

Wasn't planning on it, actually.

 

[Pradeep]

In my experience, at a closing, there will be:

1) the bank's agent
2) the bank's lawyer

Then you and your spouse or other co-signers. Highly recommended would be a lawyer for you.

Honestly, it's worth a couple hundred bucks to get a lawyer that specialises in real estate to represent you, at the closing. That way their people give your lawyer the paperwork which he looks over before you sign. And previous to the whole closing they would have given your lawyer a copy of everything that they want you to sign at closing so he can check everything is kosher beforehand. I believe the total lawyer fees for us was in the $280 range.

Assuming this is a 6 figure amount this isn't something to wing by yourself.

 

[ddrueding]

Thanks Pradeep. It is very much a six-figure thing, and I even know a real-estate attorney, but no one I know has had one present or suggested it, so I didn't even think about it.

 

[Pradeep]

It seems to be best practice. Basically the only one in that room that doesn't have a vested interest in you closing the deal. He gets paid either way.

However there is frankly so many papers to sign at a closing (I think ours was 20 or 30 odd signatures) that even an honest mistake could slip through and suddenly you signed for something you didn't think you were getting. Also, have you had an inspection done (by someone of your choosing?). In our case the guy picked up some electrical outlet mis-wirings, which the seller then paid their electrician to fix, before we closed. He also gave us 2-3 years life on the roof. That news was then used to leverage the price down a little. Interestingly, between the time we put in our deposit and the time we closed, the hot water heater (natural gas) started leaking out of the top. The seller ended up giving us a line credit of $350 odd at the closing to compensate for the new heater which we had put in.

 

[Pradeep]

One of the other things your lawyer would do is check out the title search results and make sure that was hunky dory.

 

[ddrueding]

I have the title search results here, and that is the most straightforward document I've received yet. No issues there.

 

[Stereodude]

In my experience, at a closing, there will be:

1) the bank's agent
2) the bank's lawyer

In my experience that's not the case. There was only one other person there aside from my wife and I. That person from the title company.

 

[Will Rickards]

I'll second that only title company personal were at my closings. Aside from the real estate agents and the buyer and seller.

 

[Handruin]

When I bought my house in 2004, I had my own lawyer present and on the bank side was someone with power of attorney along with my real estate agent.

Title policy insurance might not be a bad idea either. I don't know if that comes with your title search, but from when I looked into, it could cover your ass in the case where the title search didn't find everything from years and years ago before the land even had anyone a house on it. If something comes up and you don't have the insurance, there are chances you can kiss your land and house goodbye with no compensation.

 

[ddrueding]

Title insurance is required here before anyone will give you a mortgage.

 

[Handruin]

 

[Pradeep]

Pretty much the marketing for 7. "It's not shit like Vista" What a slogan.

 

[ddrueding]

Pretty much the marketing for 7. "It's not shit like Vista" What a slogan.

I have used the phrase "least crappy we're likely to see for a while" and had people choose to upgrade.

 

[fb]

I like this one.

http://xkcd.com/528/

 

[mubs]

DId a wee bit of research on Win-7 64-bit. Seems like there'll be compatibility probs. Are we allowed to install both 32-bit & 64-bit on the same PC? Is there a hypervisor for Windows that'll allow simultaneous execution of two Windows OSes?

 

[Handruin]

DId a wee bit of research on Win-7 64-bit. Seems like there'll be compatibility probs. Are we allowed to install both 32-bit & 64-bit on the same PC? Is there a hypervisor for Windows that'll allow simultaneous execution of two Windows OSes?

I've never tried a dual boot with 32 and 64 bit Win 7 but VMWare workstation or the free server tool should allow for both to run virtualized at the same time. The catch is that your base OS might need to be 64-bit in order to run both a 32 and 64 bit VM.

 

[Handruin]

I like this one.

http://xkcd.com/528/

I had not seen that one before. I like that one also!

 

[Pradeep]

http://www.airliners.net/aviation-forums/general_aviation/read.main/4775140/

Upon attempting landing with one engine already shutdown and failing to restart, other remaining engine is commanded to idle and yet goes to 70% power!

Speculation: Sounds like another case of the computer (multiple computers voting with 2 out of 3 winning?) deciding to override the pilots controls. In this case, with one engine out and the other engine cutting in and out, the "airplane OS" decided that it would be best to produce more power from the functioning engine, rather than go to idle for the landing.

There are different "rules" for one engine and both engine out scenarios apparently.

Other option is I guess dodgy contaminated fuel.

Good job by the pilots, that could easily have ended with them pancaked all over Hong Kong airport.

 

[mubs]

Did Toyota do the programming?

 

[Pradeep]

Did Toyota do the programming?

Nope. If that was the case, the pilot would have filed for bankruptcy last year, and his Airbus would be due for return to the dealer as his lease was up. Potentially some wear and tear penalties as well.



Given the hand throttles and the foot brake the excuse of "I was scared to put it in idle as I thought it was going to roll over" was dismissed by investigators.

 

[ddrueding]

Catherine Mohr speaking in front of a large prestigious audience of mostly non-geeks sporting "The Cake is a Lie". Very cool.

 

[LunarMist]

I lost a screw. Where do they all go? There are so many tiny screws. I have no idea which thread.

 

[LunarMist]

Would not want to be flying through this.

I suspect the Cork contingent will not be back tomorrow.

 

[ddrueding]

I lost a screw. Where do they all go? There are so many tiny screws. I have no idea which thread.

In normal computerdom, there are only two thread sizes that matter.

1. Case/PCI/HDD/Mobo
2. Optical/Mobo

 

[LunarMist]

The screw is not for a computer. It is somewhere in the 00 or 000 ranges, probably metric.

 

[ddrueding]

The screw is not for a computer. It is somewhere in the 00 or 000 ranges, probably metric.

Ouch. My office has carpet with an annoyingly fine pattern to it. Once a screw is dropped, it won't be found again until you take off your shoes and start walking around.

 

[CougTek]

Using a magnet is both more intelligent and less painful.

 

[CougTek]

I need an applauding seal, but when I search that on Youtube, I either get links to Democrats congress or the singer with the same name.

It's for a customer with basic needs who bought a system with a Core i7 920 and bumped the RAM to 8GB from the original 6GB.

 

[Stereodude]

First hit

Search query.