Episode Transcript
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Speaker 1 (00:04):
Good morning. Let's it tell your LISTA welcome home show
by Guardian Saved his Bank. I'm Larry Frank Tim Adams
in here with you this morning. We're glad to have
you tuned into US. Bank is open a day from
nine to one on numbers eight five, nine, eight nine,
nine one nine three six. That's here in Hamburg south
of drives eighty five nine two six three three three
three five. So if you can hear us, you can
(00:25):
call us glad to have it tuned into US thirty
or fixed six point seven five and fifteen years five
point seventy five. So got a little bit of a
spread there between the rates. But if there's something you're
interested looking at, we'd sure appreciate a phone call and
get you tuned up, get you into assistance that we
can put together for it, save you some money, you know,
looking forward to, you know, helping you get some debt
consolidated time. I put together touughle loans like it this
(00:47):
week where we're just paying off a bunch of debt
for people and getting them off twenty percent or thirty
percent on credit card debt and getting them onto the
six seven five on the thirty year fix and saving
one customer twenty six hundred bucks a month, wow, twenty
six hundred and eighty two books or something like that.
Speaker 2 (01:02):
Well, I've got one right now. I don't think we'll
start to see more of these as people decide to
go ahead and take what's on the table. Now, that
might be a good a good decision because, as you know,
we kind of offer the ability to maybe refinance again
in six months if the rates go down further, and
(01:23):
with what we charge in closing calls, if you're paying
five or six thousand dollars, you got to think twice
about refinancing with what guarding you don't. So this current
customer is at eight point one, two, five, eight and eight,
and so we're going to take them down to six
point seventy five. The savings weren't that dramatic, but it
was about two hundred and sixty dollars a month. They're retired,
(01:46):
you know, so hey, what does that mean you have?
Speaker 1 (01:49):
You got to get your calculator out and that will
be a lot of the time. Yeah, exactly, Yeah, And
that's you know, I mean, it's just like with my client.
I mean twenty six hundred BOK twenty six hundred and
eighty two I think was the final tally. And you know,
just being able to take a look at the whole
scope of things and getting it all put together for
him and making sure that it makes sense. And it
(02:10):
does and a lot of people you don't have to
consider those. Time goes along and you know, unfortunately with
the times that when people run up some depth they're
not used to having, and uh, if we can use
some of the equity to consolidate, you know, this one,
we're taking off four or five debts and put them
all into one as well, that's just less to have
to worry about. You know, you're just making one payment.
You got them, got them everything else he wrote out,
(02:31):
So you got one bill instead of seven in this case.
Speaker 2 (02:33):
The financial advisor told her that maybe he'll set up
an ex free line. Also, we're going to do that simultaneous. Yeah,
we're going to refinance her loan and we're going to
set up an equity line and it'll all be one convenient,
you know process with that.
Speaker 1 (02:49):
Ye. Well, and that's what a lot of people, you know,
need to look at. You she's at eight and a
eight final the client was she was she was around
six and a half I think on her interest rate anyway.
And so she called and she'd runs accumulated a little
bit of debt, helping her daughter through college, getting a
few things done here and there, and she just said,
Larry said, I'm just I'm done with it. I want
to put all into one deal. And said, all right,
We've ended up putting a plan together and saved, like
(03:11):
I say, think it was like twenty six hundred and
eighty two dollars a month, which is a nice you know,
cash infusion into their monthly game plan, you know, and
then they could dedicate all that right back towards the
mortgage if they liked. That's right.
Speaker 2 (03:24):
And we got an email this week from our internal guru,
John Smith, and he made a great point. Larry said, well, uh,
if your customers, you know, these customers out there, you
need to maybe they need to consolidate some credit card
debt at twenty nine point nine percent, and even though
(03:45):
you have a lower interest trail on your mortgage, let's
think about it. If whatever that number is that you
have it twenty nine point nine percent.
Speaker 1 (03:55):
Uh.
Speaker 2 (03:56):
And you see these ads where well, if you make
the minut on payment, you'll be paying on it for
a one hundred and twenty years.
Speaker 1 (04:01):
Yeah, instead we get so securedy But.
Speaker 2 (04:03):
Anyway, uh uh, it might make sense to call us
about if you've encouraged some credit card debt and let's
talk about that creating them, but redoing your mortgage including
that debt. And guess what that interest is? Tax deductible?
Your credit card interest is in the tax deductile with
the IRS.
Speaker 1 (04:24):
Yep, And it's you know, and that's kind of what
you know, something to with my client. You know, she
just had a couple of things that she wanted to
take care of. When I've got the thing and got
the entire picture when she put an application, I said,
this is what we can do. And I put the
plan together and when I call them meat and potatoes
and said we can pay this, this, this, this, and this,
I said, this is what your new payment is going
to be. And actually the new payment after we do
(04:44):
this debt consolidation is less than what her current mortgage
payment is. That's part of that twenty six hundred and
eighty two dollars a month with her mortgage payment as
a whole's going down quite a bit, four or five
hundred that's part of it, so, you know, just being
able to sit down with the expert somebody that does
this all the time. I mean, we'll do debt consolidation
and put the plan together and help you, you know,
(05:07):
digest exactly what can happen. But she just got a
twenty six hundred and eighty two dollars a month pay rates,
basically two months without making a payment. Well, I think
I told her closing costs are like nine hundred and
fifty eight. But they change the cost of the credit
reports again, it's like eleven hundred and not nine to
fifty eight. It's like a thousand twenty eight or something.
Now I can't remember when it's gone up something because
(05:28):
they change the cost of the credit reports again. Excuse me,
My allergies are killing me with all this stuff in
bloom and I'm glad to see it, but I'll get
through it. But anyway, but yeah, I mean, if you've
got something in mind and you're trying to figure out
what you're going to do with some debt you beccumulated
through this last couple of years or what have you.
I mean, you've got you've been in your home a
(05:50):
little bit. You know, houses are appreciating in value at
a you know, reasonable, reasonably good pace. So you may
have some equity you don't expect and we'll put it
to use if we can. If not, hey, we'll at
least have a plan together. Know what we're shooting for.
Last week we talked about people working with us on
letting us get them out of mortgage insurance. Tim if
(06:11):
that person's at eight and eight, there's a lot of
people up there at.
Speaker 2 (06:13):
Eight and eighth.
Speaker 1 (06:14):
There's a lot of people above seven percent right now
where at six seven five. So our standard closing costs
around one thousand bucks. Now, by the time we get
everything in that covers your phrase little closing, you know,
the closing, the title work, underwriting, processing, everything we need
to put your loan together is going to be right
around that. So it doesn't take long to break even,
you know, if you put a good plan together. But
(06:37):
we just got to get people to take a look
at what they've got. Let us take a look at
what they got. We'll put a plan together. The bank
is not going to let us do if it doesn't
make sense anyway. You know, they're going, hey, wait a minute,
what are you doing here? You know, but that we
wouldn't anyhow, We've been doing this long enough, and you
know we can put it together and make it happen
for you. It's what we can save you. But yeah,
(06:57):
if you can get that interest rate from twenty nine
percent thirty percent on a credit card down to six
point seven by you know, you know you ain't going
you know, I mean, and it comes to a little
peace of mind.
Speaker 2 (07:08):
Yeah, because a lot of people, you know, toss and
turn over credit card debt, and rightly so. Nobody wants
to be sitting on credit card debt when I when
you see some of these cycle rates from twenty nine
point nine to nine Larry, and it's just a credit
cards during necessity in this life to build your credit history.
(07:31):
But they can also be the lure of easy money.
You know, that's the old buy now, pay later. Yeah,
and sometimes you can't. You got so many balls in
the air you can't pay everything on watching my ear
income now, inflation has not really kept up or wages
have it kept up with inflation? So yes, as he
(07:55):
told us to be on here today promoting the fact
that we know that there's a credit card dead out there,
it's an all time high in this country and thank
you outside of the box for a solution here that
might help you tremendously.
Speaker 1 (08:11):
And Tim, I miss folks, you know, if we do
a cash out reefin answer for somebody, the delivery fees
come into play, they do, and so the closing costs
would be a little bit more, but you know, then
at that point we'll use the equity, so you're not
having you know, anything out of pocket as the ultimate goal.
But we're not going to do like you find online. Tim,
you and I have this conversation last week where your
guy was saving a quarter or free aates of a
(08:32):
point on interest rate with an online lender, but his
payment was going up and he couldn't figure it out. Well,
he was you know, think his balance was two thirty
five and he was born two fifteen. Yeah, no out
of pocket expense. They was just cost him fifteen thousand
dollars in closing cost to shoot that thing to the moon.
And uh so you got to be careful of that.
But I mean, our closing costs to get the loan
done are going to be around one thousand bucks. And
(08:52):
then if there's a delivery fee that Freddie Mackin poses
based on the equity of what you're doing then that
you know, we'll just put it into the deal. You
want to use the equity, So that's the thing, that's
what we want to put together and try to make
sense out of putting a good loan together for you.
So I didn't know, you know, there are some cash
out delivery fees and we'll just put it right in
the loan. But it's not gonna be fifteen thousand dollars worth.
(09:15):
And I've seen some clothing these statements for some of
these other people, and you know it's out there. You
have to be on your toes.
Speaker 2 (09:22):
You know, we just marched along to the guidelines of
Freddie Mack. And of course if by their rule and.
Speaker 1 (09:31):
Opinion, per se.
Speaker 2 (09:34):
Rate and term loan is much less, much less riskier
than doing a loan with cash out. That's just their.
Speaker 1 (09:43):
Guideline, right, But it kind of makes sense. Well, if
you've got.
Speaker 2 (09:47):
A much credit card debt, you know you're going to
be a riskier candidate that you know you may not
be able to make your Marty's payment someday. So that's
why they collect these fees in advance. And I think
ultimately they go to a pool of money that helps
to prepare for another maybe recession or where.
Speaker 1 (10:07):
We do have full coaching. We'll close your problem. I
think doles will figure out where that money goes. Somebody's
don't go structuring, because we were at first came into play,
and it was to pay back Fan and Freddy from
the getting bailed out in the financial crisis two thousand
and seven, two thousand and eight correct, and then you know,
we saw that we you know, through our business portfolio
(10:27):
and everybody else is in the country, we paid that
debt back to the government that they used to bail
us out. But then a reasonable length of time and
the fees never went away, and you and I were
perplexed by it for quite a while. We were like,
what's going on. Well, then come to find out they
were written in and collected help pay for obama healthcare program.
That was part of what was in there, and that's
why they did go away. And then that's kind of
changed a little bit. They increased the fees and tight
(10:48):
the guidelines a little bit, and supposedly the money was
to go into a pool like you were talking about,
to help the less fortunate, Yes, at an easier time
getting home, helping some of those that are you know
it need and so those fees do server purpose. I'm
not certain exactly what that goes forward, but you know,
if you're equity rich and cash poor, that's kind of
(11:09):
what the story is. Give us a call those if
we can consolidate a few things for you and increase
your monthly cash flow. That's right, because when.
Speaker 2 (11:17):
You look at the landscape of the two thousand and
eight as you mentioned, the taxpayers bail them out of
that mess. We bail out, and do we all get
all our money back? I don't know. And then they
continue to use this other form of tax sation through
mortgage lending, which all the profits going right back to
the federal government. And then they go over and put
(11:39):
it in another leak, and they stop that leak with
that money that day, and then another link pops open
over there.
Speaker 1 (11:47):
Yeah, so this is all about reducing our deficit.
Speaker 2 (11:49):
I've had conversations and this, you know, this is going
to affect our kids and their kids and generations possibly
this printing money.
Speaker 1 (11:58):
And the large defici said, well, we had him. We
get text on everything we do. You get it out
of your paycheck, anything you buy anywhere, you spend. You
go to the track out here Keenland here for the
next couple weeks win little money. Got to turn your
fun money into them too. So anyhow, we're gonna take
a break. You are listening to Welcome Home Show this morning,
Tim Adams, Larry Frakes. Here, bank's open from nine to one.
Phone numbers eight five, nine, eight nine nine one nine
(12:19):
three six South of Drives eight five nine two six
three three three three five, So if you can hear,
she can call us. By the way, you're listening to
Savannah Reeves this morning on the radio here with us
plain a little bit of music catcher around town here
Savannah Dean Reeves, and she's a good little artist. So
I hope you enjoy her music. But we're gonna take
a break. You're listening to Welcome Home Show by Guardian
Saviors Bank on News Radio six thirty w LAP. We'll
(12:42):
be right back. You're back. Listen to Welcome Home Show
by Guardian Savings Bank, Larry Frakes, Tim Adams, and you're
with you this Saturday morning. Have you tuned into us?
Appreciate you tune into us this morning. We hope everybody's
having a good weekend. Whether got a little rain this week,
got the sun got warm, we got cold, and trees
are in bloom. My allergies are killing me, but I
love to see the stuff sprouting and things going on.
(13:02):
Tim Well, Friday was a beautiful day. Banks Over Day
from ninety one. Phone numbers eight five nine, eight nine, nine,
nine three six. If you could hear, she could call
South of Drives eight five nine two six three three
three three five, Jamie Mortimer, Aeron O'Brien, Alex Malaney, Jim McKenzie,
overre and here to haberg still, Alex Tangle, Tim Adams, myself,
Larry Freight, Lori Hawkins commentaries, Rob McBride, we're over pushing
(13:23):
some loans around, got in house process. He got all
kinds of good stuff going on, and we're getting on
things done in a pretty good amount of time. Tim
When we're turning in loans and you know, getting approvals
back on it within a couple of days, you know,
and that's just volumeate as much as it we've had.
We've been where we closed one hundred and forty loans
a month, you know, and that makes it underwriting that
stuff take a little longer. But right now we is
(13:44):
closing fifteen or twenty twenty five loans a month and
just pushed them through the best we could get through them.
But uh, six point seventy five on a thirty year fixed,
six and a quarter on a twenty year, and five
point seventy five on a fifteen we'd be glad to
take a look at anything you've got consolidates the bills,
using some of your equity, you know, the mortgage insurance
if you've got that, shortening your term, extending your term,
(14:04):
trying to create a little month of cash flow just
depends on what your scenario is and what we can
put together for you. But we'll most certainly put a
plan together that makes sense. If not, we'll just have
a plan for the future.
Speaker 2 (14:14):
We're going to give you the strength facts, folks. We're
not in this. Uh, we're in this to help people.
And a lot of these lenders out there are interested
in one thing, you know, greed. It's it's it seems
to be greedy. And I kind of blame the folks
the watchdogs for allowing, as we've talked about, so much
variance between a lender being able to charge you six
(14:34):
thousand dollars we'll call guarding savings banks. That's that's a
big pen on swing. Yeah, and why is that still
happening Because I thought they were supposed to have a
little more oversight on charges by lenders.
Speaker 1 (14:46):
Right, But that's a good point and this and you
know what, we encourage people to shop. I don't have
a problem to the base shop and I don't get
every deal. I get most of them. If you do
your bath and you know what's going on to understand
the business, you know, it's kind of a it's a
it's a in my opinion, when you're gonna deal with
somebody that's gonna you could call Tim or I or
anybody that's your loan offt your and lextam. Most of
the time we can help you find information about your loan.
(15:07):
We're going to have access to it. And I've had
a lot of people do that. Ay, mad Mask gros change.
What happened, We'll get the information. Now your homeowners insurance
went up now you know two hundred and seventy dollars,
or you know the tax assessment came in because your
house has improved in value. Those are the things we
can address and put together. We service the loans. That's
why our closing costs artisize what you're talking about, tim
and and it builds that relationship. You know, we had
(15:29):
somebody come in this week and pay thirty six thousand
dollars now and do a recast, you know, and there's
not I don't know if any other lenders that offer
the recast not a refinance. She still gets to keep
her three and a half percent interest rate. And so
we're going to pay thirty six thousand dollars now, we're
going to recast it, and her painent's going to go
from eleven hundred and twenty eight dollars to seven hundred
and thirty two dollars or something like that, you know,
and that she stays on the same amateurization schedule. Everything
(15:50):
moves forward and it cost her a hundred bucks so
we can file the paperwork. But you know what a
great tool. She doesn't have to refinance out of the
three and a half percent to get a higher rate
to make a payment change.
Speaker 2 (16:01):
I think a lot of consumers don't really consider that
a mortgage is part of your financial pie chart because
it is an investment. And if you're going to apply
more to principle that means you're investing in the value
of your home going up at least five percent return,
seven percent return on average and appreciation on a home
you buy. You need to talk to a financial advisor
(16:23):
or not financial advisors. But we know a few things
and we know that you should go talk to someone
about how do you approach your mortgage and what should
you take from your portfolio and pay down on your
principal ballot?
Speaker 1 (16:35):
And I had slept at a holiday and express so
I can find the answers for it if B B.
But you know, generally, you know, we've been doing this
long enough. We can answer most stuff. But there's times
when I got to call get some advice from you know,
or legal team or somebody up north. But that's the
beauty of Guardian Savings Bank. You're buying local, you're being local,
You're staying local, and you could come into bank and
talk to us. You could call us and give you
(16:56):
a cell phone number. I get calls Saturday Sunday, if
I'm a church, if I'm gonna funeral. What don't make
it different. People don't know what I'm doing, they'll call,
and that's what I wanted to do. Sometimes I have
to wait till I get back to the branch to
be able to do certain things. But I'm a phone
call away, and I think that's the personal service that
we offered, and we're proud to do it, you know,
and that's just the way we've always been. But we appreciate,
you know, the opportunity to do loans and just give
(17:18):
us a call, get you two or three people out
here that you're going to want to consider as a
loan company, and we'll put the things together you need
to do what we want to do. And doing that,
like I say, I encourage people's shop around, know what
you need to know, then then to take your choice.
So somebody's got a better deal, I'll tell you, hey,
that's a great deal.
Speaker 2 (17:35):
When you call and shop a mortgage, more than likely
whoever's on the other end is going to want to
pull your credit. Call us first.
Speaker 1 (17:43):
We may not have to pull your credit initially.
Speaker 2 (17:47):
If you've got a number in mine or you've seen
something online, we can use that. No one that could
change depending on what credit actually is.
Speaker 1 (17:54):
But you know that being said, you got a two
week window to do all the mortgage shopping you want
without an effecting your score. So once you get somebody
to pull it and I know that they're legitimate, I'd say, hey,
they say, I just got one from Central Bank. You know, Okay,
what was the score that'd give you a pretty good clue?
Or five? Pull it? Then you can tell other people
Guardian pull it and I got an eight forty two
credit score. They should be able to quote you from that.
But anyway, we're gonna take another break. Your list of
(18:14):
Welcome Home Show. Banks open today from nine to one.
Phone numbers eight five, nine, eight, nine, nine, one, nine
three six. South of Drives eighty five nine two six
three three three three five. If you could hear's your cost.
Gonna take a small break. We'll be right back. You're
listening to the Welcome Home Show by Guardian Savings Bank
on News Radio six point thirty. W Lad, We'll be
right back. You're back listened Welcome Home Show by Guardian
(18:35):
Savings Bank, Larry Freights and Tim Adams in here this
Saturday morning. We're glad to have you tuned in to us.
I't for everybody's having a good weekend. Banks open today
from nine to one. Phone numbers eight five, nine, eight nine,
nine one nine three six that's here at Hamburg south
of Drive is eight five nine two six three three
three three five. So if you want to see him
(18:55):
bout doing a debt consolidation, taking advantage of your equity,
lowering your out and go mon we get rid of
your mortgage insurance, any of those things that we can
do to help them save some money. Tip we're a
phone fall away eight five nine eight nine nine one
nine three six. We'll see what we can put together
for you. If we can put something together it makes sense,
we do it. If not, we'll have a plan keeping
(19:16):
out on the rates and see what's going on. But
we are at six point seven five on a thirty
year fix six and a quarter on a twenty five
point seven five on a fifteen and so if you've
been in your house, you've been in you know you're
paying above seven percent with our closing costs to be
of what they are depending on you know, the equity
scenario that you present. We can help you get out
of the mortgage insurance and maybe consolidate some bills or
(19:38):
if you've got if you even if for not doing
that and you're paying seven seven out of eight seven
and a quarter seven and a half and I can
get you to six point seventy five. Let's start refinancing
and getting it, you know, starting it's right.
Speaker 2 (19:50):
Don't let alone or rob you of your equities because
he tells you there's no cash out. Yeah, you're going
to pay for that over time, And we just don't
feel it's necessary or guardian. We cut lenders title insurance
out of our settlement statement. We cover that separate leak,
and I mean you owe it to yourself to lay
us down side by side and look at true closing costs.
(20:11):
And I'm not cluded. That doesn't include to set up
your escrows. You've got to pack deposits in those and
you'll get a read phone from your current lender if
you're refinancing about the funds they're holding for you now.
But we don't really require escrows. That's something you can
also think about. But if you like to have the
budget to pay every month your taxing insurance and not
have that big tax bill coming at you in November
(20:32):
right before Christmas, I mean Escrow's work for fifty percent
of Americans, and that's the statistically area that fifty percent
of people do, fifty percent of people don't. And we
we it's we're kind of benign in that if you
have twenty percent equity.
Speaker 1 (20:48):
Yeah, well mine, you know, I've done it both ways
and right now I have escrow set up. And of
course everybody's homeowners insurance well up last year, including mine,
So of course I knew it was coming. We knew
that talked about on the radio show for a long
time that we do rates, we're going to go up
last year on the on the homeowners insurance, and it
an went up on everybody, not just me and you,
but anybody. Every municipality got it. O't care if it's
(21:11):
the police department of the library. Everybody's insurance went up,
to mind went up. So Guardian paid the payment. Then
I had to pay in and get a caught back up,
and then my monthly amount change. So next year, they
know what they're planning on that premium bend.
Speaker 2 (21:26):
So in their defense, in their defense, Larry, when you
go to when you look at your policy, and you're
going to see a major part of it is replacement cost.
And we're still seeing material cost way outside the norm
(21:46):
of what we have experienced really pre pandemic. We really
haven't seen material prices coming down and now I've seen
a report that a lot of homebowners are going to
stuck there. Have reduced their forecast on the homezell bill
this year, and the reason is it's hard to and
now it's going to be harder and maybe turn a
profit in some parts of the country where they can't
(22:08):
sell homes at seven or six point seven five, But
in certain parts of the country they'll be able to
build back up more expensive home and command more money
for it if these rates come down, as you know,
house prices are going to go up. It's you have
to paint with a broad brush in this economy. And
that's not just Kentucky and not just Lexington and Fayet County.
I think we've been very lucky there in fat County
(22:29):
and our surrounding counties in regard to you know, the
values have held and they're continuing to decline.
Speaker 1 (22:37):
I think that's because of the professionalism in the real
estate industry, the realtors that did a great job and
making slight adjustments and keep it homes competitive in value.
You know, we're and I think that if we were lucky,
we were blessed through all this that we had good
common sense, good leadership in the real over community, you know,
and they kept everything, you know, Pat, and they didn't panic,
(22:59):
kept things fair now, you know, buying a new home
and doing the things that you're going to do. I mean,
you're paying a want first square foot. But that's because
during those times we were able to maintain our value,
maintained the integrity of the values in the area, like
you said, not just Laxington, that surrounding areas as well,
in Georgetown, Nicholasville, will Moore, Richmond, you know, Winchester, Paris,
(23:20):
all of our lending communities out here that we get
into Mount Stirley and you know that's you know, you
just have to pay you know, kudos to the realtors.
Speaker 2 (23:29):
But and something else is going on in our backyard
really is over at the Rever River Gorge, uh Slagh, Kentucky.
You've seen a renaissance of vacation homes over there vr median,
you know, four hundred thousand dollars Larry and uh. I
was talking to a lady from Camp which is right
you know, just right up the road there, and she said,
(23:51):
there are people coming from Flue States to come to
live in Kentucky and they're buying a land. Uh there,
and that's and and a lot of the locals won't
like it, but I said, that's reality. And I said,
you don't have any shopping opportunities. Oh well, we got
to drive to Winchester, get to get to go to Walmart.
(24:14):
And I said, and because the city council there's there
are resistant to.
Speaker 1 (24:18):
That that going on.
Speaker 2 (24:20):
But the more houses you sell, the more taxes they're
going to bring in. But you got to give them.
Speaker 1 (24:26):
You can't make them go to Winchester get a loaf
of bread to gall on the milk, you know, but
they don't want to sacrifice the piece of land there
and give Walmart a big twenty year free loan and
no taxes of all that you got no dollar. General's
got a footprint.
Speaker 2 (24:37):
Called d G now, which is how you know they
have more grocery produce.
Speaker 1 (24:42):
Uh.
Speaker 2 (24:42):
They need to look at something like that, a stop
gap other than Bucky's coming in.
Speaker 1 (24:46):
Yeah, cut up, I did it, you know, And I
know that you know in some of these places that
just you know, you see a lot of empty malls.
Why is that because people come in, they sign the lease,
and then the people transition from one area to help.
Just like the recent renaissance downtown to Lexton here. Yes,
everybody moved out. Now they're moving back, so you know,
you got to pick your poison, and they want to
(25:07):
keep it. Just like the land the land restrictions here
made La Fett County what it is.
Speaker 2 (25:11):
Well, they don't want to lose the charm of their
community and they want it to be, you know like
Kinglin is the way it was meant to be. But hello,
Larry Chiplock, reality check. If you've cut all this money
coming from outside of Kentucky and they're buying up land
and that's what they're doing is going out and building
a big, you know whatever, five six hundred thousand dollars house.
(25:35):
Wh's where they came from that would have been a
million dollar house or bore. So they're coming here because
and then when they come here and visit, they they're
just fall in love with it. And so that area
is going to have to get used to this tourism
boom over there. Really, yes, and it seems to be
continuing to grow overever.
Speaker 1 (25:54):
But that's I stayed one of the airbnb's that was
on a cliff. Yeah, you had a little bridge walk
up to the built right on the cliffs. It was cool.
It's beautiful down there, and if you haven't been, I
mean you got to go make the trip eventually, and
you know, the Red River Gorge is what it is.
But yeah, there's some good growth going on down there,
some airbnbs, some cool stuff and and uh you know,
(26:14):
spend your money locally down there. They got great pizza
down what's that pizza place to Miguel. Yeah, you know,
that's what everybody always talks about. And uh you know
that's that's you know, part of that community at this
pointment up there. Don't get some other stuff going on.
Speaker 2 (26:27):
Down there, and uh well they're going to have to
accept change at some point.
Speaker 1 (26:33):
Yeah. Well, you know, I look at like this. You know,
we had a houseboat down there at a down Maticello. Yeah,
I mean you had to get up get out of
there to go get a go to Walmart. You'd drive
a little bit to get over there, you know. Uh
so there's just some areas where you'd go to Winchester
and get groceries.
Speaker 2 (26:49):
And you just build a seven hundred thousand dollar house
and now you've got no shopping nearby, and you'll look
at any appraisal, Larry, they mentioned it, Yeah, coase proximity
to the restaurant.
Speaker 1 (27:01):
Yeah, and that helps the value of a home. Yeah,
I mean the times are changing. We've seen Lexington grow.
We've been doing this for eighteen eighteen years now, the show,
and uh, we've seen all these changes around, like stud
and filling up the land that they had set up
that was put back, but that was putting the plan
was put in place what thirty years ago, forty years
(27:21):
ago the land you know, for all of the properties
here and maintained the integrity and the values and the
land and the esthetic value that Lexington offers. And uh,
that's why it is what it is and the values
are what they are. If you'll see that in other
communities as they change and grow and move on. But yeah,
I mean it's uh, that area down there is, it's happened.
I like it. I got a guy getting red building
(27:43):
one then down there myself, it ain't gonna be you know,
be about half of what you're talking about, money wise,
but he's got any less little plot down to his
own for a while. New homes bring in more property
taxes and that's helpful for the area of schools. And uh,
you know, but I understand the mentality of folks wanting
to maintain the.
Speaker 2 (28:01):
Character of their communities. They've lived them for years and
years and years. Nothing lasts forever, the people.
Speaker 1 (28:08):
The highway system, and they're doing that new highway down
around Somerset, you know, the new freeway stuff down there.
And you know, the more easier just for people to
get around, the more people are going to come. You
build it, they will come type of thing.
Speaker 2 (28:20):
Well, they have improved the infrastructure of the highway system
from Somerset city limits all the way down. You know,
obviously the bypass takes you right at the burnside and
you eliminate all that twenty seven traffic that's.
Speaker 1 (28:34):
All about tourism.
Speaker 2 (28:35):
But now they've got that infrastructure where you can go
down to lower parts of like you're talking about Conley Bottom.
Speaker 1 (28:43):
And then Dell haf yep.
Speaker 2 (28:45):
And I was there down there earlier this week, and
I was amazed at the infrastructure and the highway systems
that now and you can easily and which a much
faster get to two Lakes. And when it usedee to
go through Albany and blah blah blahing it to the
lake and so a lot of the highways that we
(29:07):
have in Somerset are a result of promotion of tourists.
Speaker 1 (29:10):
Yeah. Yeah, and it's beautiful down there too. I love
going down there. I love being at the lake. And
and but if you you know, you can get out
and have to take your groceries with it. If you
run out, you go to get out and go somewhere,
and there's you know, you're gonna drive for med to
get it. But that's just part of what you expecting,
that type of a deal. And uh, but it's beautiful,
I mean the highway infrastructure and so on and so forth.
You know, like I say, you build it, they'll come.
(29:31):
It's just, uh, it's got to have access to it,
you know. I mean there's places still down there out
here don't have internet. Team can you believe that? I mean,
it's totally off the side of I mean, I know,
you know, you're just thinking where are we at?
Speaker 2 (29:43):
You know, I go through parts of when I'm going
for sixty one to Somerset, I lose service. So I
don't know if the people there then well they got
landlines and or tying to an electric pole. I don't know,
but they may not be able to use a cell
phone if I won't get a signal there the people
that live in that neighborhood don't have it. And maybe
you know the the new star Link yep, you know,
(30:03):
to provide internet service for more people. But if that
needs to happen, because now you never know when we're
going back to remote learning and you got to have internet.
Speaker 1 (30:12):
Yep, yep, you got that right. Hey, we're going to
take another break. Listen to Welcome Home Show Banks open
today from nine to one numbers eighty five, nine eight
nine nine one nine three six. Music you're listening to
today is from our local artist, Vana Dean Grief. You
can get up catcher, check her on Facebook and see
what's going on. Great great little gal, great singer, good
show and if you get a chance to get out
(30:33):
check her out, please do so. Finer on iTunes or
Spotify if you want to listen to your music. So
we're gonna be right back here. Listen to Welcome Home
Show by Guardian Saves Bank on News Radio six thirty
w Lad We'll be right back. You're a back Listen
of the Welcome Home Show by Guardian Saves Bank, Lary Freks,
Tim Adam's coming at you this Saturday morning. We appreciate
you tuning in to us and lett us chew on
(30:53):
your ear a little bit while you're traveling around doing
your yard work, working, or whatever's going on in your
life this morning. Get out and enjoy the weekend. Do
what you're gonna do. And and if you're thinking about buying,
you need to preapproval, give us a call. If you're
thinking about trying to consolidate some credit card debt and
putting your interest rate all together in one payment, you know,
several different bills into one cash out refinance payment, give
(31:15):
us a call. Right eight five nine eight nine nine
nine three six in Hamburg eight five nine two six
three three three three five and south of Trive call us.
You know, I'm glad to see as many of the
SEC schools move forward as they did. My brackets are
a little messed up. They always are. Yeah, all right, yeah,
and uh uh it was uh. It is such a
(31:37):
fun time of the year to be able to watch
these games and watch all the different things and how
hard everybody plays, and you know the strategy that's used
on different teams and what they're going to try to
do and Uh, well, I.
Speaker 2 (31:47):
Like all the opinions that I hear talking to you
to hardcore basketball fans, whether they be Kentucky or who not,
about there how they would set up in IL and
it is complicated issues. But I don't think it's going
to run basketball.
Speaker 1 (32:04):
Well. This was the thing. I just I don't. I
don't like the fact that the coach. What a tough
spot to be at the coaches and I hadn't, you know,
made a comment on ks R it's supposed to you know,
and the lady was like, these these coaches get paid
so much. And I agree with that, but man, what
a tough job. Tim you got somebody on your rosters,
you're catering to them, trying to get through playing time going,
(32:25):
and you're building them, and the whole time, in the
back of your mind you're thinking this person could leave.
I need to be recruiting somebody as good as this
person or better. So you know, there's it's just got
to be such a tough deal because you're you're telling
this one, hey, you know, and you're patting them on
the back, and the whole time over here, you don't
you know who you recruiting and who's going to leave
and who is and and it ain't an easy.
Speaker 2 (32:43):
Job, I know. And for these players to go ahead
and announce they're going on the transfer portal when their
team is still in the n C Double A sixty four,
they're in the n C Double A tournament and he's he's,
I don't.
Speaker 1 (32:54):
Think that's good for the mentality of the team. Happens
in football season. People they you know, somebody I was
thought of, somebody that than I.
Speaker 2 (33:02):
They said, they just need to make an iron clad
role where you can't go into portal of that final
buzz are on the final game. Y'll see.
Speaker 1 (33:09):
Yeah, but you know they do that. That that that
hurts a lot of teams in the ball games. A
lot of these guys say, man, I'm not gonna play,
I'm not gonna play. I don't want to get hurt
or what have you. And it's you know, it's more
about the safety and the advantage of their own life.
But I mean, and I'm okay with people. You got
a coach's here, he's been here three years, or recruiter
you come in here. All of a sudden, he gets
(33:29):
he wants to move. He gets a more better job,
high paying someplace else in the different conference. And here
you sit, you got a new coach coming. You don't
know Adam. You don't know from Adam, you know, and
so you got to, you know, trying to get your education,
trying to learn a new coach. It's not the person
recruited you. He had some people and he's you know,
it's just a compoluted deal. But it's tough, man, it's
got to be so tough. I think Pope's on the
right track. He obviously has a good eye for talent,
(33:52):
or he couldn't have put together the player the roster
he's got this year. And so, you know, I think
these these.
Speaker 2 (33:58):
Freshmen have had a great you know, it's been a
great experience to get exposure because you know, Butler's you know,
and Jackson Robinson and we've lost some players there.
Speaker 1 (34:09):
I liked it, you know. When I was coaching fast
pitch softball, uh, you know, we had our circle of
affirmation after game, everybody said what somebody else on the
team did good. Then we had our accountability meeting where
they said, you could have done this better. And I
saw them doing that with the team earlier on. And
that creates such good team chemistry. Where everybody knows that
they're all being watched. You know, you cutting corners, on
running your sprints, are you doing this or that? Or
(34:31):
did you put in an extra effort to make an
out and get us an out? And you know in softball,
did you die and catch a ball and miss it?
Or you know, did you ball take a bad hop
on you? Yeah, he took a bad hop that you
made a great play, moved on to the next play.
And that's you know, Pops, that his mental coaching of
the game and the way he prepares the kids. You know,
the best athletes are the players that can move on
(34:51):
to the next play the quickest. You know that you
can't sit around worry about that shots you missed three
minutes ago. That's you know, that's that's the secret to success.
But I think Mark's done a good job, so we'll
see what happens. I'm glad that he's here. I'm glad
the excitement's back, and I'm glad they've had a good season,
knocked off some good teams and that the depth of
the team with everybody that's had to play, is as spectacular.
I like that part of it as well. And it's
(35:14):
been fun to watch them. We'll see what's going on,
hopefully if they're playing tomorrow, you know. But anyhow, we
appreciate you turning in. Listen to us today six point
seventy five on a thirty or fix six and the
quarter on and twenty five point seventy five on fifteen.
If you can hear us, you can call us. If
you want to get preyer proof for a purchase, please
do it. If you want to consolidate several bills into one,
we can do it. Just let us know how we
can help you. Banks open today from nine to one.
(35:34):
Phone numbers eight five, nine, eight nine, nine one, nine
three six. If you could hear us, she could call us.
You've been listening to Savannah Dean Reeves playing the music
this morning. Look her up on iTunes or Spotify and
catch her around town here. She's a great little artist
and does a great job. I hope you enjoy her
music this morning. But you have been listened to the
Welcome Home Show by Guardian Savings Bank. Hope to They's
(35:55):
ninety one. Give us a call eighty five nine eight
ninety nine one nine three sick list us on news
reread you know six thirty w l a D. Be
back next Saturday. Have a great weekend.
Good morning. Let's it tell your LISTA welcome home show
by Guardian Saved his Bank. I'm Larry Frank Tim Adams
in here with you this morning. We're glad to have
you tuned into US. Bank is open a day from
nine to one on numbers eight five, nine, eight nine,
nine one nine three six. That's here in Hamburg south
of drives eighty five nine two six three three three
three five. So if you can hear us, you can
(00:25):
call us glad to have it tuned into US thirty
or fixed six point seven five and fifteen years five
point seventy five. So got a little bit of a
spread there between the rates. But if there's something you're
interested looking at, we'd sure appreciate a phone call and
get you tuned up, get you into assistance that we
can put together for it, save you some money, you know,
looking forward to, you know, helping you get some debt
consolidated time. I put together touughle loans like it this
(00:47):
week where we're just paying off a bunch of debt
for people and getting them off twenty percent or thirty
percent on credit card debt and getting them onto the
six seven five on the thirty year fix and saving
one customer twenty six hundred bucks a month, wow, twenty
six hundred and eighty two books or something like that.
Speaker 2 (01:02):
Well, I've got one right now. I don't think we'll
start to see more of these as people decide to
go ahead and take what's on the table. Now, that
might be a good a good decision because, as you know,
we kind of offer the ability to maybe refinance again
in six months if the rates go down further, and
(01:23):
with what we charge in closing calls, if you're paying
five or six thousand dollars, you got to think twice
about refinancing with what guarding you don't. So this current
customer is at eight point one, two, five, eight and eight,
and so we're going to take them down to six
point seventy five. The savings weren't that dramatic, but it
was about two hundred and sixty dollars a month. They're retired,
(01:46):
you know, so hey, what does that mean you have?
Speaker 1 (01:49):
You got to get your calculator out and that will
be a lot of the time. Yeah, exactly, Yeah, And
that's you know, I mean, it's just like with my client.
I mean twenty six hundred BOK twenty six hundred and
eighty two I think was the final tally. And you know,
just being able to take a look at the whole
scope of things and getting it all put together for
him and making sure that it makes sense. And it
(02:10):
does and a lot of people you don't have to
consider those. Time goes along and you know, unfortunately with
the times that when people run up some depth they're
not used to having, and uh, if we can use
some of the equity to consolidate, you know, this one,
we're taking off four or five debts and put them
all into one as well, that's just less to have
to worry about. You know, you're just making one payment.
You got them, got them everything else he wrote out,
(02:31):
So you got one bill instead of seven in this case.
Speaker 2 (02:33):
The financial advisor told her that maybe he'll set up
an ex free line. Also, we're going to do that simultaneous. Yeah,
we're going to refinance her loan and we're going to
set up an equity line and it'll all be one convenient,
you know process with that.
Speaker 1 (02:49):
Ye. Well, and that's what a lot of people, you know,
need to look at. You she's at eight and a
eight final the client was she was she was around
six and a half I think on her interest rate anyway.
And so she called and she'd runs accumulated a little
bit of debt, helping her daughter through college, getting a
few things done here and there, and she just said,
Larry said, I'm just I'm done with it. I want
to put all into one deal. And said, all right,
We've ended up putting a plan together and saved, like
(03:11):
I say, think it was like twenty six hundred and
eighty two dollars a month, which is a nice you know,
cash infusion into their monthly game plan, you know, and
then they could dedicate all that right back towards the
mortgage if they liked. That's right.
Speaker 2 (03:24):
And we got an email this week from our internal guru,
John Smith, and he made a great point. Larry said, well, uh,
if your customers, you know, these customers out there, you
need to maybe they need to consolidate some credit card
debt at twenty nine point nine percent, and even though
(03:45):
you have a lower interest trail on your mortgage, let's
think about it. If whatever that number is that you
have it twenty nine point nine percent.
Speaker 1 (03:55):
Uh.
Speaker 2 (03:56):
And you see these ads where well, if you make
the minut on payment, you'll be paying on it for
a one hundred and twenty years.
Speaker 1 (04:01):
Yeah, instead we get so securedy But.
Speaker 2 (04:03):
Anyway, uh uh, it might make sense to call us
about if you've encouraged some credit card debt and let's
talk about that creating them, but redoing your mortgage including
that debt. And guess what that interest is? Tax deductible?
Your credit card interest is in the tax deductile with
the IRS.
Speaker 1 (04:24):
Yep, And it's you know, and that's kind of what
you know, something to with my client. You know, she
just had a couple of things that she wanted to
take care of. When I've got the thing and got
the entire picture when she put an application, I said,
this is what we can do. And I put the
plan together and when I call them meat and potatoes
and said we can pay this, this, this, this, and this,
I said, this is what your new payment is going
to be. And actually the new payment after we do
(04:44):
this debt consolidation is less than what her current mortgage
payment is. That's part of that twenty six hundred and
eighty two dollars a month with her mortgage payment as
a whole's going down quite a bit, four or five
hundred that's part of it, so, you know, just being
able to sit down with the expert somebody that does
this all the time. I mean, we'll do debt consolidation
and put the plan together and help you, you know,
(05:07):
digest exactly what can happen. But she just got a
twenty six hundred and eighty two dollars a month pay rates,
basically two months without making a payment. Well, I think
I told her closing costs are like nine hundred and
fifty eight. But they change the cost of the credit
reports again, it's like eleven hundred and not nine to
fifty eight. It's like a thousand twenty eight or something.
Now I can't remember when it's gone up something because
(05:28):
they change the cost of the credit reports again. Excuse me,
My allergies are killing me with all this stuff in
bloom and I'm glad to see it, but I'll get
through it. But anyway, but yeah, I mean, if you've
got something in mind and you're trying to figure out
what you're going to do with some debt you beccumulated
through this last couple of years or what have you.
I mean, you've got you've been in your home a
(05:50):
little bit. You know, houses are appreciating in value at
a you know, reasonable, reasonably good pace. So you may
have some equity you don't expect and we'll put it
to use if we can. If not, hey, we'll at
least have a plan together. Know what we're shooting for.
Last week we talked about people working with us on
letting us get them out of mortgage insurance. Tim if
(06:11):
that person's at eight and eight, there's a lot of
people up there at.
Speaker 2 (06:13):
Eight and eighth.
Speaker 1 (06:14):
There's a lot of people above seven percent right now
where at six seven five. So our standard closing costs
around one thousand bucks. Now, by the time we get
everything in that covers your phrase little closing, you know,
the closing, the title work, underwriting, processing, everything we need
to put your loan together is going to be right
around that. So it doesn't take long to break even,
you know, if you put a good plan together. But
(06:37):
we just got to get people to take a look
at what they've got. Let us take a look at
what they got. We'll put a plan together. The bank
is not going to let us do if it doesn't
make sense anyway. You know, they're going, hey, wait a minute,
what are you doing here? You know, but that we
wouldn't anyhow, We've been doing this long enough, and you
know we can put it together and make it happen
for you. It's what we can save you. But yeah,
(06:57):
if you can get that interest rate from twenty nine
percent thirty percent on a credit card down to six
point seven by you know, you know you ain't going
you know, I mean, and it comes to a little
peace of mind.
Speaker 2 (07:08):
Yeah, because a lot of people, you know, toss and
turn over credit card debt, and rightly so. Nobody wants
to be sitting on credit card debt when I when
you see some of these cycle rates from twenty nine
point nine to nine Larry, and it's just a credit
cards during necessity in this life to build your credit history.
(07:31):
But they can also be the lure of easy money.
You know, that's the old buy now, pay later. Yeah,
and sometimes you can't. You got so many balls in
the air you can't pay everything on watching my ear
income now, inflation has not really kept up or wages
have it kept up with inflation? So yes, as he
(07:55):
told us to be on here today promoting the fact
that we know that there's a credit card dead out there,
it's an all time high in this country and thank
you outside of the box for a solution here that
might help you tremendously.
Speaker 1 (08:11):
And Tim, I miss folks, you know, if we do
a cash out reefin answer for somebody, the delivery fees
come into play, they do, and so the closing costs
would be a little bit more, but you know, then
at that point we'll use the equity, so you're not
having you know, anything out of pocket as the ultimate goal.
But we're not going to do like you find online. Tim,
you and I have this conversation last week where your
guy was saving a quarter or free aates of a
(08:32):
point on interest rate with an online lender, but his
payment was going up and he couldn't figure it out. Well,
he was you know, think his balance was two thirty
five and he was born two fifteen. Yeah, no out
of pocket expense. They was just cost him fifteen thousand
dollars in closing cost to shoot that thing to the moon.
And uh so you got to be careful of that.
But I mean, our closing costs to get the loan
done are going to be around one thousand bucks. And
(08:52):
then if there's a delivery fee that Freddie Mackin poses
based on the equity of what you're doing then that
you know, we'll just put it into the deal. You
want to use the equity, So that's the thing, that's
what we want to put together and try to make
sense out of putting a good loan together for you.
So I didn't know, you know, there are some cash
out delivery fees and we'll just put it right in
the loan. But it's not gonna be fifteen thousand dollars worth.
(09:15):
And I've seen some clothing these statements for some of
these other people, and you know it's out there. You
have to be on your toes.
Speaker 2 (09:22):
You know, we just marched along to the guidelines of
Freddie Mack. And of course if by their rule and.
Speaker 1 (09:31):
Opinion, per se.
Speaker 2 (09:34):
Rate and term loan is much less, much less riskier
than doing a loan with cash out. That's just their.
Speaker 1 (09:43):
Guideline, right, But it kind of makes sense. Well, if
you've got.
Speaker 2 (09:47):
A much credit card debt, you know you're going to
be a riskier candidate that you know you may not
be able to make your Marty's payment someday. So that's
why they collect these fees in advance. And I think
ultimately they go to a pool of money that helps
to prepare for another maybe recession or where.
Speaker 1 (10:07):
We do have full coaching. We'll close your problem. I
think doles will figure out where that money goes. Somebody's
don't go structuring, because we were at first came into play,
and it was to pay back Fan and Freddy from
the getting bailed out in the financial crisis two thousand
and seven, two thousand and eight correct, and then you know,
we saw that we you know, through our business portfolio
(10:27):
and everybody else is in the country, we paid that
debt back to the government that they used to bail
us out. But then a reasonable length of time and
the fees never went away, and you and I were
perplexed by it for quite a while. We were like,
what's going on. Well, then come to find out they
were written in and collected help pay for obama healthcare program.
That was part of what was in there, and that's
why they did go away. And then that's kind of
changed a little bit. They increased the fees and tight
(10:48):
the guidelines a little bit, and supposedly the money was
to go into a pool like you were talking about,
to help the less fortunate, Yes, at an easier time
getting home, helping some of those that are you know
it need and so those fees do server purpose. I'm
not certain exactly what that goes forward, but you know,
if you're equity rich and cash poor, that's kind of
(11:09):
what the story is. Give us a call those if
we can consolidate a few things for you and increase
your monthly cash flow. That's right, because when.
Speaker 2 (11:17):
You look at the landscape of the two thousand and
eight as you mentioned, the taxpayers bail them out of
that mess. We bail out, and do we all get
all our money back? I don't know. And then they
continue to use this other form of tax sation through
mortgage lending, which all the profits going right back to
the federal government. And then they go over and put
(11:39):
it in another leak, and they stop that leak with
that money that day, and then another link pops open
over there.
Speaker 1 (11:47):
Yeah, so this is all about reducing our deficit.
Speaker 2 (11:49):
I've had conversations and this, you know, this is going
to affect our kids and their kids and generations possibly
this printing money.
Speaker 1 (11:58):
And the large defici said, well, we had him. We
get text on everything we do. You get it out
of your paycheck, anything you buy anywhere, you spend. You
go to the track out here Keenland here for the
next couple weeks win little money. Got to turn your
fun money into them too. So anyhow, we're gonna take
a break. You are listening to Welcome Home Show this morning,
Tim Adams, Larry Frakes. Here, bank's open from nine to one.
Phone numbers eight five, nine, eight nine nine one nine
(12:19):
three six South of Drives eight five nine two six
three three three three five, So if you can hear,
she can call us. By the way, you're listening to
Savannah Reeves this morning on the radio here with us
plain a little bit of music catcher around town here
Savannah Dean Reeves, and she's a good little artist. So
I hope you enjoy her music. But we're gonna take
a break. You're listening to Welcome Home Show by Guardian
Saviors Bank on News Radio six thirty w LAP. We'll
(12:42):
be right back. You're back. Listen to Welcome Home Show
by Guardian Savings Bank, Larry Frakes, Tim Adams, and you're
with you this Saturday morning. Have you tuned into us?
Appreciate you tune into us this morning. We hope everybody's
having a good weekend. Whether got a little rain this week,
got the sun got warm, we got cold, and trees
are in bloom. My allergies are killing me, but I
love to see the stuff sprouting and things going on.
(13:02):
Tim Well, Friday was a beautiful day. Banks Over Day
from ninety one. Phone numbers eight five nine, eight nine, nine,
nine three six. If you could hear, she could call
South of Drives eight five nine two six three three
three three five, Jamie Mortimer, Aeron O'Brien, Alex Malaney, Jim McKenzie,
overre and here to haberg still, Alex Tangle, Tim Adams, myself,
Larry Freight, Lori Hawkins commentaries, Rob McBride, we're over pushing
(13:23):
some loans around, got in house process. He got all
kinds of good stuff going on, and we're getting on
things done in a pretty good amount of time. Tim
When we're turning in loans and you know, getting approvals
back on it within a couple of days, you know,
and that's just volumeate as much as it we've had.
We've been where we closed one hundred and forty loans
a month, you know, and that makes it underwriting that
stuff take a little longer. But right now we is
(13:44):
closing fifteen or twenty twenty five loans a month and
just pushed them through the best we could get through them.
But uh, six point seventy five on a thirty year fixed,
six and a quarter on a twenty year, and five
point seventy five on a fifteen we'd be glad to
take a look at anything you've got consolidates the bills,
using some of your equity, you know, the mortgage insurance
if you've got that, shortening your term, extending your term,
(14:04):
trying to create a little month of cash flow just
depends on what your scenario is and what we can
put together for you. But we'll most certainly put a
plan together that makes sense. If not, we'll just have
a plan for the future.
Speaker 2 (14:14):
We're going to give you the strength facts, folks. We're
not in this. Uh, we're in this to help people.
And a lot of these lenders out there are interested
in one thing, you know, greed. It's it's it seems
to be greedy. And I kind of blame the folks
the watchdogs for allowing, as we've talked about, so much
variance between a lender being able to charge you six
(14:34):
thousand dollars we'll call guarding savings banks. That's that's a
big pen on swing. Yeah, and why is that still
happening Because I thought they were supposed to have a
little more oversight on charges by lenders.
Speaker 1 (14:46):
Right, But that's a good point and this and you
know what, we encourage people to shop. I don't have
a problem to the base shop and I don't get
every deal. I get most of them. If you do
your bath and you know what's going on to understand
the business, you know, it's kind of a it's a
it's a in my opinion, when you're gonna deal with
somebody that's gonna you could call Tim or I or
anybody that's your loan offt your and lextam. Most of
the time we can help you find information about your loan.
(15:07):
We're going to have access to it. And I've had
a lot of people do that. Ay, mad Mask gros change.
What happened, We'll get the information. Now your homeowners insurance
went up now you know two hundred and seventy dollars,
or you know the tax assessment came in because your
house has improved in value. Those are the things we
can address and put together. We service the loans. That's
why our closing costs artisize what you're talking about, tim
and and it builds that relationship. You know, we had
(15:29):
somebody come in this week and pay thirty six thousand
dollars now and do a recast, you know, and there's
not I don't know if any other lenders that offer
the recast not a refinance. She still gets to keep
her three and a half percent interest rate. And so
we're going to pay thirty six thousand dollars now, we're
going to recast it, and her painent's going to go
from eleven hundred and twenty eight dollars to seven hundred
and thirty two dollars or something like that, you know,
and that she stays on the same amateurization schedule. Everything
(15:50):
moves forward and it cost her a hundred bucks so
we can file the paperwork. But you know what a
great tool. She doesn't have to refinance out of the
three and a half percent to get a higher rate
to make a payment change.
Speaker 2 (16:01):
I think a lot of consumers don't really consider that
a mortgage is part of your financial pie chart because
it is an investment. And if you're going to apply
more to principle that means you're investing in the value
of your home going up at least five percent return,
seven percent return on average and appreciation on a home
you buy. You need to talk to a financial advisor
(16:23):
or not financial advisors. But we know a few things
and we know that you should go talk to someone
about how do you approach your mortgage and what should
you take from your portfolio and pay down on your
principal ballot?
Speaker 1 (16:35):
And I had slept at a holiday and express so
I can find the answers for it if B B.
But you know, generally, you know, we've been doing this
long enough. We can answer most stuff. But there's times
when I got to call get some advice from you know,
or legal team or somebody up north. But that's the
beauty of Guardian Savings Bank. You're buying local, you're being local,
You're staying local, and you could come into bank and
talk to us. You could call us and give you
(16:56):
a cell phone number. I get calls Saturday Sunday, if
I'm a church, if I'm gonna funeral. What don't make
it different. People don't know what I'm doing, they'll call,
and that's what I wanted to do. Sometimes I have
to wait till I get back to the branch to
be able to do certain things. But I'm a phone
call away, and I think that's the personal service that
we offered, and we're proud to do it, you know,
and that's just the way we've always been. But we appreciate,
you know, the opportunity to do loans and just give
(17:18):
us a call, get you two or three people out
here that you're going to want to consider as a
loan company, and we'll put the things together you need
to do what we want to do. And doing that,
like I say, I encourage people's shop around, know what
you need to know, then then to take your choice.
So somebody's got a better deal, I'll tell you, hey,
that's a great deal.
Speaker 2 (17:35):
When you call and shop a mortgage, more than likely
whoever's on the other end is going to want to
pull your credit. Call us first.
Speaker 1 (17:43):
We may not have to pull your credit initially.
Speaker 2 (17:47):
If you've got a number in mine or you've seen
something online, we can use that. No one that could
change depending on what credit actually is.
Speaker 1 (17:54):
But you know that being said, you got a two
week window to do all the mortgage shopping you want
without an effecting your score. So once you get somebody
to pull it and I know that they're legitimate, I'd say, hey,
they say, I just got one from Central Bank. You know, Okay,
what was the score that'd give you a pretty good clue?
Or five? Pull it? Then you can tell other people
Guardian pull it and I got an eight forty two
credit score. They should be able to quote you from that.
But anyway, we're gonna take another break. Your list of
(18:14):
Welcome Home Show. Banks open today from nine to one.
Phone numbers eight five, nine, eight, nine, nine, one, nine
three six. South of Drives eighty five nine two six
three three three three five. If you could hear's your cost.
Gonna take a small break. We'll be right back. You're
listening to the Welcome Home Show by Guardian Savings Bank
on News Radio six point thirty. W Lad, We'll be
right back. You're back listened Welcome Home Show by Guardian
(18:35):
Savings Bank, Larry Freights and Tim Adams in here this
Saturday morning. We're glad to have you tuned in to us.
I't for everybody's having a good weekend. Banks open today
from nine to one. Phone numbers eight five, nine, eight nine,
nine one nine three six that's here at Hamburg south
of Drive is eight five nine two six three three
three three five. So if you want to see him
(18:55):
bout doing a debt consolidation, taking advantage of your equity,
lowering your out and go mon we get rid of
your mortgage insurance, any of those things that we can
do to help them save some money. Tip we're a
phone fall away eight five nine eight nine nine one
nine three six. We'll see what we can put together
for you. If we can put something together it makes sense,
we do it. If not, we'll have a plan keeping
(19:16):
out on the rates and see what's going on. But
we are at six point seven five on a thirty
year fix six and a quarter on a twenty five
point seven five on a fifteen and so if you've
been in your house, you've been in you know you're
paying above seven percent with our closing costs to be
of what they are depending on you know, the equity
scenario that you present. We can help you get out
of the mortgage insurance and maybe consolidate some bills or
(19:38):
if you've got if you even if for not doing
that and you're paying seven seven out of eight seven
and a quarter seven and a half and I can
get you to six point seventy five. Let's start refinancing
and getting it, you know, starting it's right.
Speaker 2 (19:50):
Don't let alone or rob you of your equities because
he tells you there's no cash out. Yeah, you're going
to pay for that over time, And we just don't
feel it's necessary or guardian. We cut lenders title insurance
out of our settlement statement. We cover that separate leak,
and I mean you owe it to yourself to lay
us down side by side and look at true closing costs.
(20:11):
And I'm not cluded. That doesn't include to set up
your escrows. You've got to pack deposits in those and
you'll get a read phone from your current lender if
you're refinancing about the funds they're holding for you now.
But we don't really require escrows. That's something you can
also think about. But if you like to have the
budget to pay every month your taxing insurance and not
have that big tax bill coming at you in November
(20:32):
right before Christmas, I mean Escrow's work for fifty percent
of Americans, and that's the statistically area that fifty percent
of people do, fifty percent of people don't. And we
we it's we're kind of benign in that if you
have twenty percent equity.
Speaker 1 (20:48):
Yeah, well mine, you know, I've done it both ways
and right now I have escrow set up. And of
course everybody's homeowners insurance well up last year, including mine,
So of course I knew it was coming. We knew
that talked about on the radio show for a long
time that we do rates, we're going to go up
last year on the on the homeowners insurance, and it
an went up on everybody, not just me and you,
but anybody. Every municipality got it. O't care if it's
(21:11):
the police department of the library. Everybody's insurance went up,
to mind went up. So Guardian paid the payment. Then
I had to pay in and get a caught back up,
and then my monthly amount change. So next year, they
know what they're planning on that premium bend.
Speaker 2 (21:26):
So in their defense, in their defense, Larry, when you
go to when you look at your policy, and you're
going to see a major part of it is replacement cost.
And we're still seeing material cost way outside the norm
(21:46):
of what we have experienced really pre pandemic. We really
haven't seen material prices coming down and now I've seen
a report that a lot of homebowners are going to
stuck there. Have reduced their forecast on the homezell bill
this year, and the reason is it's hard to and
now it's going to be harder and maybe turn a
profit in some parts of the country where they can't
(22:08):
sell homes at seven or six point seven five, But
in certain parts of the country they'll be able to
build back up more expensive home and command more money
for it if these rates come down, as you know,
house prices are going to go up. It's you have
to paint with a broad brush in this economy. And
that's not just Kentucky and not just Lexington and Fayet County.
I think we've been very lucky there in fat County
(22:29):
and our surrounding counties in regard to you know, the
values have held and they're continuing to decline.
Speaker 1 (22:37):
I think that's because of the professionalism in the real
estate industry, the realtors that did a great job and
making slight adjustments and keep it homes competitive in value.
You know, we're and I think that if we were lucky,
we were blessed through all this that we had good
common sense, good leadership in the real over community, you know,
and they kept everything, you know, Pat, and they didn't panic,
(22:59):
kept things fair now, you know, buying a new home
and doing the things that you're going to do. I mean,
you're paying a want first square foot. But that's because
during those times we were able to maintain our value,
maintained the integrity of the values in the area, like
you said, not just Laxington, that surrounding areas as well,
in Georgetown, Nicholasville, will Moore, Richmond, you know, Winchester, Paris,
(23:20):
all of our lending communities out here that we get
into Mount Stirley and you know that's you know, you
just have to pay you know, kudos to the realtors.
Speaker 2 (23:29):
But and something else is going on in our backyard
really is over at the Rever River Gorge, uh Slagh, Kentucky.
You've seen a renaissance of vacation homes over there vr median,
you know, four hundred thousand dollars Larry and uh. I
was talking to a lady from Camp which is right
you know, just right up the road there, and she said,
(23:51):
there are people coming from Flue States to come to
live in Kentucky and they're buying a land. Uh there,
and that's and and a lot of the locals won't
like it, but I said, that's reality. And I said,
you don't have any shopping opportunities. Oh well, we got
to drive to Winchester, get to get to go to Walmart.
(24:14):
And I said, and because the city council there's there
are resistant to.
Speaker 1 (24:18):
That that going on.
Speaker 2 (24:20):
But the more houses you sell, the more taxes they're
going to bring in. But you got to give them.
Speaker 1 (24:26):
You can't make them go to Winchester get a loaf
of bread to gall on the milk, you know, but
they don't want to sacrifice the piece of land there
and give Walmart a big twenty year free loan and
no taxes of all that you got no dollar. General's
got a footprint.
Speaker 2 (24:37):
Called d G now, which is how you know they
have more grocery produce.
Speaker 1 (24:42):
Uh.
Speaker 2 (24:42):
They need to look at something like that, a stop
gap other than Bucky's coming in.
Speaker 1 (24:46):
Yeah, cut up, I did it, you know, And I
know that you know in some of these places that
just you know, you see a lot of empty malls.
Why is that because people come in, they sign the lease,
and then the people transition from one area to help.
Just like the recent renaissance downtown to Lexton here. Yes,
everybody moved out. Now they're moving back, so you know,
you got to pick your poison, and they want to
(25:07):
keep it. Just like the land the land restrictions here
made La Fett County what it is.
Speaker 2 (25:11):
Well, they don't want to lose the charm of their
community and they want it to be, you know like
Kinglin is the way it was meant to be. But hello,
Larry Chiplock, reality check. If you've cut all this money
coming from outside of Kentucky and they're buying up land
and that's what they're doing is going out and building
a big, you know whatever, five six hundred thousand dollars house.
(25:35):
Wh's where they came from that would have been a
million dollar house or bore. So they're coming here because
and then when they come here and visit, they they're
just fall in love with it. And so that area
is going to have to get used to this tourism
boom over there. Really, yes, and it seems to be
continuing to grow overever.
Speaker 1 (25:54):
But that's I stayed one of the airbnb's that was
on a cliff. Yeah, you had a little bridge walk
up to the built right on the cliffs. It was cool.
It's beautiful down there, and if you haven't been, I
mean you got to go make the trip eventually, and
you know, the Red River Gorge is what it is.
But yeah, there's some good growth going on down there,
some airbnbs, some cool stuff and and uh you know,
(26:14):
spend your money locally down there. They got great pizza
down what's that pizza place to Miguel. Yeah, you know,
that's what everybody always talks about. And uh you know
that's that's you know, part of that community at this
pointment up there. Don't get some other stuff going on.
Speaker 2 (26:27):
Down there, and uh well they're going to have to
accept change at some point.
Speaker 1 (26:33):
Yeah. Well, you know, I look at like this. You know,
we had a houseboat down there at a down Maticello. Yeah,
I mean you had to get up get out of
there to go get a go to Walmart. You'd drive
a little bit to get over there, you know. Uh
so there's just some areas where you'd go to Winchester
and get groceries.
Speaker 2 (26:49):
And you just build a seven hundred thousand dollar house
and now you've got no shopping nearby, and you'll look
at any appraisal, Larry, they mentioned it, Yeah, coase proximity
to the restaurant.
Speaker 1 (27:01):
Yeah, and that helps the value of a home. Yeah,
I mean the times are changing. We've seen Lexington grow.
We've been doing this for eighteen eighteen years now, the show,
and uh, we've seen all these changes around, like stud
and filling up the land that they had set up
that was put back, but that was putting the plan
was put in place what thirty years ago, forty years
(27:21):
ago the land you know, for all of the properties
here and maintained the integrity and the values and the
land and the esthetic value that Lexington offers. And uh,
that's why it is what it is and the values
are what they are. If you'll see that in other
communities as they change and grow and move on. But yeah,
I mean it's uh, that area down there is, it's happened.
I like it. I got a guy getting red building
(27:43):
one then down there myself, it ain't gonna be you know,
be about half of what you're talking about, money wise,
but he's got any less little plot down to his
own for a while. New homes bring in more property
taxes and that's helpful for the area of schools. And uh,
you know, but I understand the mentality of folks wanting
to maintain the.
Speaker 2 (28:01):
Character of their communities. They've lived them for years and
years and years. Nothing lasts forever, the people.
Speaker 1 (28:08):
The highway system, and they're doing that new highway down
around Somerset, you know, the new freeway stuff down there.
And you know, the more easier just for people to
get around, the more people are going to come. You
build it, they will come type of thing.
Speaker 2 (28:20):
Well, they have improved the infrastructure of the highway system
from Somerset city limits all the way down. You know,
obviously the bypass takes you right at the burnside and
you eliminate all that twenty seven traffic that's.
Speaker 1 (28:34):
All about tourism.
Speaker 2 (28:35):
But now they've got that infrastructure where you can go
down to lower parts of like you're talking about Conley Bottom.
Speaker 1 (28:43):
And then Dell haf yep.
Speaker 2 (28:45):
And I was there down there earlier this week, and
I was amazed at the infrastructure and the highway systems
that now and you can easily and which a much
faster get to two Lakes. And when it usedee to
go through Albany and blah blah blahing it to the
lake and so a lot of the highways that we
(29:07):
have in Somerset are a result of promotion of tourists.
Speaker 1 (29:10):
Yeah. Yeah, and it's beautiful down there too. I love
going down there. I love being at the lake. And
and but if you you know, you can get out
and have to take your groceries with it. If you
run out, you go to get out and go somewhere,
and there's you know, you're gonna drive for med to
get it. But that's just part of what you expecting,
that type of a deal. And uh, but it's beautiful,
I mean the highway infrastructure and so on and so forth.
You know, like I say, you build it, they'll come.
(29:31):
It's just, uh, it's got to have access to it,
you know. I mean there's places still down there out
here don't have internet. Team can you believe that? I mean,
it's totally off the side of I mean, I know,
you know, you're just thinking where are we at?
Speaker 2 (29:43):
You know, I go through parts of when I'm going
for sixty one to Somerset, I lose service. So I
don't know if the people there then well they got
landlines and or tying to an electric pole. I don't know,
but they may not be able to use a cell
phone if I won't get a signal there the people
that live in that neighborhood don't have it. And maybe
you know the the new star Link yep, you know,
(30:03):
to provide internet service for more people. But if that
needs to happen, because now you never know when we're
going back to remote learning and you got to have internet.
Speaker 1 (30:12):
Yep, yep, you got that right. Hey, we're going to
take another break. Listen to Welcome Home Show Banks open
today from nine to one numbers eighty five, nine eight
nine nine one nine three six. Music you're listening to
today is from our local artist, Vana Dean Grief. You
can get up catcher, check her on Facebook and see
what's going on. Great great little gal, great singer, good
show and if you get a chance to get out
(30:33):
check her out, please do so. Finer on iTunes or
Spotify if you want to listen to your music. So
we're gonna be right back here. Listen to Welcome Home
Show by Guardian Saves Bank on News Radio six thirty
w Lad We'll be right back. You're a back Listen
of the Welcome Home Show by Guardian Saves Bank, Lary Freks,
Tim Adam's coming at you this Saturday morning. We appreciate
you tuning in to us and lett us chew on
(30:53):
your ear a little bit while you're traveling around doing
your yard work, working, or whatever's going on in your
life this morning. Get out and enjoy the weekend. Do
what you're gonna do. And and if you're thinking about buying,
you need to preapproval, give us a call. If you're
thinking about trying to consolidate some credit card debt and
putting your interest rate all together in one payment, you know,
several different bills into one cash out refinance payment, give
(31:15):
us a call. Right eight five nine eight nine nine
nine three six in Hamburg eight five nine two six
three three three three five and south of Trive call us.
You know, I'm glad to see as many of the
SEC schools move forward as they did. My brackets are
a little messed up. They always are. Yeah, all right, yeah,
and uh uh it was uh. It is such a
(31:37):
fun time of the year to be able to watch
these games and watch all the different things and how
hard everybody plays, and you know the strategy that's used
on different teams and what they're going to try to
do and Uh, well, I.
Speaker 2 (31:47):
Like all the opinions that I hear talking to you
to hardcore basketball fans, whether they be Kentucky or who not,
about there how they would set up in IL and
it is complicated issues. But I don't think it's going
to run basketball.
Speaker 1 (32:04):
Well. This was the thing. I just I don't. I
don't like the fact that the coach. What a tough
spot to be at the coaches and I hadn't, you know,
made a comment on ks R it's supposed to you know,
and the lady was like, these these coaches get paid
so much. And I agree with that, but man, what
a tough job. Tim you got somebody on your rosters,
you're catering to them, trying to get through playing time going,
(32:25):
and you're building them, and the whole time, in the
back of your mind you're thinking this person could leave.
I need to be recruiting somebody as good as this
person or better. So you know, there's it's just got
to be such a tough deal because you're you're telling
this one, hey, you know, and you're patting them on
the back, and the whole time over here, you don't
you know who you recruiting and who's going to leave
and who is and and it ain't an easy.
Speaker 2 (32:43):
Job, I know. And for these players to go ahead
and announce they're going on the transfer portal when their
team is still in the n C Double A sixty four,
they're in the n C Double A tournament and he's he's,
I don't.
Speaker 1 (32:54):
Think that's good for the mentality of the team. Happens
in football season. People they you know, somebody I was
thought of, somebody that than I.
Speaker 2 (33:02):
They said, they just need to make an iron clad
role where you can't go into portal of that final
buzz are on the final game. Y'll see.
Speaker 1 (33:09):
Yeah, but you know they do that. That that that
hurts a lot of teams in the ball games. A
lot of these guys say, man, I'm not gonna play,
I'm not gonna play. I don't want to get hurt
or what have you. And it's you know, it's more
about the safety and the advantage of their own life.
But I mean, and I'm okay with people. You got
a coach's here, he's been here three years, or recruiter
you come in here. All of a sudden, he gets
(33:29):
he wants to move. He gets a more better job,
high paying someplace else in the different conference. And here
you sit, you got a new coach coming. You don't
know Adam. You don't know from Adam, you know, and
so you got to, you know, trying to get your education,
trying to learn a new coach. It's not the person
recruited you. He had some people and he's you know,
it's just a compoluted deal. But it's tough, man, it's
got to be so tough. I think Pope's on the
right track. He obviously has a good eye for talent,
(33:52):
or he couldn't have put together the player the roster
he's got this year. And so, you know, I think
these these.
Speaker 2 (33:58):
Freshmen have had a great you know, it's been a
great experience to get exposure because you know, Butler's you know,
and Jackson Robinson and we've lost some players there.
Speaker 1 (34:09):
I liked it, you know. When I was coaching fast
pitch softball, uh, you know, we had our circle of
affirmation after game, everybody said what somebody else on the
team did good. Then we had our accountability meeting where
they said, you could have done this better. And I
saw them doing that with the team earlier on. And
that creates such good team chemistry. Where everybody knows that
they're all being watched. You know, you cutting corners, on
running your sprints, are you doing this or that? Or
(34:31):
did you put in an extra effort to make an
out and get us an out? And you know in softball,
did you die and catch a ball and miss it?
Or you know, did you ball take a bad hop
on you? Yeah, he took a bad hop that you
made a great play, moved on to the next play.
And that's you know, Pops, that his mental coaching of
the game and the way he prepares the kids. You know,
the best athletes are the players that can move on
(34:51):
to the next play the quickest. You know that you
can't sit around worry about that shots you missed three
minutes ago. That's you know, that's that's the secret to success.
But I think Mark's done a good job, so we'll
see what happens. I'm glad that he's here. I'm glad
the excitement's back, and I'm glad they've had a good season,
knocked off some good teams and that the depth of
the team with everybody that's had to play, is as spectacular.
I like that part of it as well. And it's
(35:14):
been fun to watch them. We'll see what's going on,
hopefully if they're playing tomorrow, you know. But anyhow, we
appreciate you turning in. Listen to us today six point
seventy five on a thirty or fix six and the
quarter on and twenty five point seventy five on fifteen.
If you can hear us, you can call us. If
you want to get preyer proof for a purchase, please
do it. If you want to consolidate several bills into one,
we can do it. Just let us know how we
can help you. Banks open today from nine to one.
(35:34):
Phone numbers eight five, nine, eight nine, nine one, nine
three six. If you could hear us, she could call us.
You've been listening to Savannah Dean Reeves playing the music
this morning. Look her up on iTunes or Spotify and
catch her around town here. She's a great little artist
and does a great job. I hope you enjoy her
music this morning. But you have been listened to the
Welcome Home Show by Guardian Savings Bank. Hope to They's
(35:55):
ninety one. Give us a call eighty five nine eight
ninety nine one nine three sick list us on news
reread you know six thirty w l a D. Be
back next Saturday. Have a great weekend.
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