Newspaper Page Text
PAGE 4A
- FORSYTH COUNTY NEWS - Friday, Auflutt 4, 2000
Norman's B|£mm|
Landing Bl H jJJB -*> w
tournament ■Jg I fly I ; SI
raises funds B \mß I'Bk ' Bk
for Humane IgB M
Society M
The regular pong |||gjcXF 1
at
Landing ME- S
raised $236.69 for the MMI k
Forsyth County \ MB
Humane Society to , r . r < -
help in its difficult task Hmi •<-*—„.. ( .,. -it.'v- 1 jZgk3
of caring for animals. At * , h < i
the presentation cere- ■ •■ -, ' ? - I
mony were Doug j»JBT -/hRMBI ' ' ’EMn
Gibson, Humane '»Smk I
Society President %¥TKW|\.. b r- 7 < . !( «u
Joyce Neuner, Teresa i i L™’ ; •*• • z Tr»B
Carusos and 3-year-old ■MHI, ! fl J 7**j~j2M| It
Perri Neuner. ™ -SSM -- K. ..-• J3B
" SSSSU? ■*
B B W K? <8
Photo Torr Brooks iKMMHHH'<’ -<V ~ ,' /fu\ //.'■
Federal program targets end to PMI expenses
If you put less than 20 per
cent down on a home mortgage,
lenders often require you to have
Private Mortgage Insurance.
PMI protects the lender if you
default on the loan.
The Homeowners Protection
Act of 1998 which became
effective in 1999 establishes
rules for automatic termination
and borrower cancellation of
PMI on home mortgages.
These protections apply to
certain home mortgages signed
on or after July 29, 1999 for the
purchase, initial construction, or
refinance of a single-family
home.
These protections do not
apply to government-insured
FHA or VA loans or to loans
with lender-paid PMI.
For home mortgages signed
on or after July 29, 1999. your
PMI must with certain excep
tions be terminated automati
cally when you reach 22 percent
equity in your home based on
the original property value, if
your mortgage payments are
current.
Your PMI also can be can
celed, when you request with
certain exceptions when you
reach 20 percent equity in your
home based on the original
property value, if your mortgage
payments are current.
One exception is if your Joan
is “high-risk.” Another is if you
have not been current on your
payments within the year prior
to the time for termination or
cancellation.
A third is if you have other
liens on your property.
For these loans, your PMI
may continue. Ask your lender
or mortgage services (a company
that collects your payments) for
more information about these
requirements.
If you signed your mortgage
before July 29. 1999, you can
ask to have the PMI canceled
once you exceed 20 percent
equity in your home. But federal
law does not require your lender
or mortgage servicer to cancel
the insurance.
On a SIOO,OOO loan with 10
percent down ($10,000), PMI
might cost you S4O a month. If
you can cancel the PMI, you can
save S4BO a year and many thou
sands of dollars over the loan.
Check your annual escrow
account statement or call your
lender to find out exactly how
much PMI is costing you each
year.
• New borrowers covered by
the law must be told at clos
ing and once a year —about
PMI termination and cancella
tion.
• Mortgage servicers must
provide a telephone number for
all their mortgage borrowers to
call for information about termi
nation and cancellation of PMI.
• Even though the law’s ter-
BUSINESS & INDUSTRY
These protections
do not apply to
government
insured FHA or VA
loans. „
99
mination and cancellation rights
do not cover loans that were
signed before July 29. 1999, or
loans with lender-paid PMI
signed on any date, lenders or
mortgage servicers must tell bor
rowers about the termination or
cancellation rights they may oth
erwise have under those loans
(such as rights established by the
contract or state law).
Some states may have laws
that apply to early termination or
cancellation of PMI even if
® CUMMING
CHRISTIAN
FELLOWSHIP
Learning To Follow Jesus: worshipping Him,
Loving His People And Sharing His Grace
THIS WEEKS MESSAGE BUILDING BRIDGES WITHIN YOUR RELATIONSHIPS
WE'D LOVE TO SEE YOU ON SUNDAY MORNING AT 10:00 AM
AT MORRIS PERFORMING ARTS CENTER
1936 Buford Highway IMwy 20)
Chip Ftotnec. Pad:or/770--886-3345Aww.ctirnfningcf.cofn
Quafty Children's rnnstry provided
Chock uc out on Sunday afternoon at 3:30 on AM H7O
Come As You Are!
gJF’I Did you know that Tom Slaughter....
Kt S Retired as a classroom teacher after 30 years?...Was a teacher of the year in Fulton County?...Served
M 0,1 the management team for two middle schools?...Served on the Employee Relations Committee for
4H the Fulton Count y School System?...Has taught Math, Social Studies, and Physical Education?...Has
served as certified supply teacher at Otwell Middle School?...Has been a volunteer coach at Otwell
Middle School?...Taught in three Schools of Excellence?...Served on the State Board of the Georgia
Association for Health, Physical Education, Recreation and Dance?...Served as an officer of several
Forsyth Central High School booster clubs?...Has a childrens park named after him in Sandy
Springs?...Served as Director of Sports at the Olympic Youth Camp during the 1996 Summer Games?...Served
on Olympic Committee for Youth Education?...Member of Youth Advisory Council (ACOG) 1990-
1996?...Served in the Armed Forces?...ls a sustaining member of the Republican National Committee?
Forsyth County needs Tom Slaughter
VOTE TOM SLAUGHTER iMMI jg
SCHOOL BOARD
August 8, 2000 I jfl
Part tor by the comirttea to etect Tam Steuohte' Dmi Bates. Chairman 106 Alton St. Sts 1. Cumming. GA 30040 j/' j |
’ f ." " 4 1
you signed your mortgage
before July 29, 1999.
Cal) your state consumer pro
tection agency for more infor
mation about your state's rules.
Fannie Mae and Freddie Mac,
which buy home mortgages from
lenders, also may have guide
lines affecting termination or
cancellation of PMI on home
mortgages signed before July 29,
1999.
Check with your lender or
mortgage servicer, or call Fannie
Mae or Freddie Mac, for more
information.
Contact your lender or mort
gage servicer to learn whether
you’re paying PMI. If you are,
ask how and when it can be ter
minated or canceled.
The Federal Trade Commiss-
ion publishes a series of free
credit-related publications.
For a complete list of publi
cations, call toll-free: (800)
FTC-HELP (382-4357); visit:
www.ftc.gov; or write: Best
Sellers, Consumer Response
Center. Federal Trade Commiss
ion. 600 Pennsylvania Avenue,
NW, Washington, DC 20580.
■ " " -
Q Rev. Randall Grier “Restoration 2000”
R f CONTINUES!!
MM 4th Week of Services
K>
■■ I J August 2-4
Wednesday - Friday
Morning Teaching Session 10AM
Evening Revival Service 7PM >
HI , l 1645 Dahlonega Hwy (9 N)
101 @ miles North of the Square)
H # W < 770-889-6919
F ” til Mitill s time for restoration
in your life!
Business notes
Georgia Chamber
will host legislative
luncheon Aug. 24
The Georgia Chamber of
Commerce will host its annual
Congressional Luncheon Aug.
24 in Dublin.
The reception and sign-in
begin at 11 a.m. with lunch
scheduled to begin at noon.
Appalachian Tech
offers seminar
on e-commerce
Introduction to E-Commerce
will be offered Monday. Aug. 7
from 6-8:30 p.m. at the
Appalachian Tech campus in
Jasper.
Cost is $lO. For more infor
mation or to register, call (706)
253-4523.
The seminar is for area busi
nesses that would like to know
more about using the Internet to
sell products.
It will also address why a
business might choose to devel
op a Web site and will cover
useful tips to help owners of
smaller businesses with limited
capital or with limited internet
experience “test the waters”
before making the decision to
put their business on the
Internet.
Scotts Company
has Aug. 7 deadline
The Scptts Company has
introduced its Give Back to
Grow awards to honor gardeners
who have made a significant
contribution in their communi?
ties through gardening activities?
The winners will receive
$5,000 in cash and SI,OOO in
products.
Honorable mention winners
will get $1,500 in cash and SSQ((
in Scotts products.
The four categories are class
room gardener, good neighbor*
outstanding young gardener and
urban “greenup" gardener.
The entry deadline is Aug, 7.
To get a nomination form,
access www.scottscompany.cbm
or call (800) 551-5971.
•
UGA investigation
class set for Aug. 4
at site in Gwinnett
The University of Georgia
will offer a legal investigation
certificate course beginning
Aug. 4 at its learning center in
Lawrenceville.
The course is designed to
teach legal investigation tech
niques to those interested in pur
suing a career or those currently
working in the legal field.
At the end of the course, star*
dents will be able to assist attor
neys, paralegals, insurance com
panies, private businesses and
state and federal agencies in the
process of civil and criminal
investigation.
Course tuition is $425.
Successful graduates wilt
receive a Legal Investigation
Certificate from UGA and the
top 25 percent of the class will
be eligible for voluntary intern
ships to gain further experience.
For more information or to
register for the course in
Gwinnett, call (800) 522-7737
or (706) 339-5213.