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NO. 23942 IN THE INTERMEDIATE COURT OF APPEALS OF THE STATE OF HAWAI#I NORWEST MORTGAGE, INC., a California corporation, Plaintiff-Appellee, v. GWENDOLYN K. DE REGO, Defendant-Appellant, and JOSEPH A. DE REGO, ICI FUNDING CORPORATION, and JOHN AND MARY DOES 1-20, DOE PARTNERSHIPS, CORPORATIONS OR OTHER ENTITIES 1-20, Defendants APPEAL FROM THE SECOND CIRCUIT COURT (CIV. NO. 99-0175(1)) MEMORANDUM OPINION Burns, C.J., Lim and Foley, JJ.)

(By:

Defendant-Appellant Gwendolyn K. De Rego (Gwendolyn) appeals from the October 4, 2000 Judgment of the Second Circuit Court, entered by Circuit Court Judge Artemio C. Baxa, stating that "summary judgment and an interlocutory decree of foreclosure are hereby entered in favor of [Plaintiff-Appellee Norwest Mortgage, Inc. (NMI)] . . . against all Defendants as there is

no just reason for delay pursuant to Rule 54(b) of the Hawaii Rules of Civil Procedure." Gwendolyn also appeals the order entered by Judge Baxa on December 1, 2000, entitled, "Order Denying Defendant Gwendolyn K. De Rego's Motion for Reconsideration and to Set Aside and Vacate 1. <Findings of Fact; Conclusions of Law; Order Granting Plaintiff's Motion for Summary Judgment Against Joseph A. De Rego, Gwendolyn K. De Rego and All Other Defendants

and for Interlocutory Decree of Foreclosure,' Filed on October 4, 2000; 2. <Judgment' Filed on October 4, 2000; Filed on October 16, 2000; Order" [sic]. We vacate and remand. BACKGROUND The relevant events occurred chronologically as follows: April 22, 1997. Gwendolyn and Defendant Joseph A.

De Rego (Joseph) (collectively the De Regos) borrowed $296,250 from NMI and secured their obligation to pay it with a mortgage on their residence at RR 2 Box 86, Kula, Hawai#i 96790. was at the rate of 7.875% per annum. per month. Interest

Payments were at $2,148.02 The final

Payments commenced on June 1, 1997.

payment date was May 1, 2027. April 23, 1977. The De Regos signed the Truth-in-

Lending Disclosure document, which designated an annual percentage rate of 8.0929%. schedule as follows: The document also noted the payment

twelve payments in the amount of $1,946.15

to be paid monthly commencing June 1, 1997, 347 payments of $2,148.02 commencing June 1, 1998, and a final payment of $2,145.47 on May 1, 2027. March 17, 1999. Alleging a failure to pay, NMI filed

its Complaint to Foreclose Mortgage (complaint).

2

March 29, 1999.

The De Regos informed NMI by letter

that they cancelled the mortgage loan
under the authority granted to us by the Truth In Lending Act and its implementing Regulation Z. 15 U.S.C.

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Hawaii Law