Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Good morning. Like contin your listen to Welcome Home show
by Guardian Savings Bank. I'm very freaks. Tim Adam's in
here with you this Saturday morning as usual, glad to
have you tuned into us.
Speaker 2 (00:14):
Bank is over to day from nine to one when
them is eight five nine, eight nine nine one nine
three six South of Drives eight five nine two six
three three three three five.
Speaker 1 (00:23):
So if you can hear us, you can.
Speaker 2 (00:24):
Call us, be glad to help you with any of
your mortgage needs. But and then the bank here we
got our checking and savings and CDs and you know
passbook savings accounts and all those things as well, so
give us a call. You didn't need any of those,
but uh, Tim, and I can't do you a note loan,
boat loan or a parlaan, but uh, you know, we
(00:46):
just do mortgages only. And Tim, we've been you got
to talk to you, had you a couple of applications
this week. I've got me a couple of applications this week.
Speaker 1 (00:52):
And we've been kind of building.
Speaker 2 (00:55):
The pipeline up here with people getting off the snide
and it's been a little crazy because the government's up down,
so you know, when's going to happen. There's going to
be an improvement in ranks. We watched the bad markets constantly,
and so far are thirty or the fixed rate mortgage
programs aren't quing on bondiles at this point. And a
(01:15):
lot of was already baked in to the decision that
was made, you know, last month to lower the FED
fund rates to only a quarter. So now they're the
new FED chairman to be it looks like he is
talking three or four more cuts. Then you're on palace
talking about well, the only thing that has come out
this week is the Beige Book, and it showed that
(01:37):
some of the information that comes into the FEDS the
things had gotten a little worse in the in the
business industry, and that wasn't expected at all. So, you know,
the guy kind of in his speech said, hey, you know,
we're looking maybe making a few more changes that this
information is true and accurate.
Speaker 1 (01:52):
There's one of your clients calling him. You need to
take that.
Speaker 2 (01:54):
I'll keep going doing the show now that's okay. So
but yeah, I mean it's uh, he'd go, tip, I
take this cike of a loan client calling in and
it happens. So AnyWho, we have. I'll tell you what
I got pulled together this week. And as I put
together a bridge loan for a god a spine of
(02:14):
property down in Florida. He's got a property around this area,
and you're gonna have a put bridge loan put together.
Speaker 1 (02:19):
And he's gonna buy him place down there.
Speaker 2 (02:21):
And uh, you know, that's something I haven't always been
able to do, but I'm glad that we're able to
do it. And I've got several purchase loans out and going,
you know, just going with that. People are finally getting
out and buying some stuff. And uh, like we say,
marry the home, date the loan and just we'll stay
in touch with you for nine hundred and forty eight bucks.
And you skip a month's a couple of months payments,
(02:42):
it don't take long to break even on what the
closing costs are in here. And even if they're above that,
if you've got a delivery fee or something along those line,
you're wanting to do something, give us a call. I
that makes sense, we'll do it. Not no, not going
to let us do it. Anyway, keep in mind if
you're in the UH age range or in a situation
where you're gonna be considered retirement soon. Now's a good
time to look at your mortgage and see what's going
(03:04):
on and have a plan for that. We talked about
the last several weeks, and what we want to do
is is, you know, point out the fact that once
you get on a fixed income, it's not always easy
to do a refinance if you need to at that point.
And a lot of people are on short lower rate
fifteen year terms, which is a pretty good chunk of change.
The long the other thirty years at a higher rate
(03:26):
makes the payment less. But once you get on that
retirement income and you don't have any more overtime or bonuses,
there could be you know, a tough time for you
in getting qualified in any new loan capacity, and.
Speaker 1 (03:40):
That's what we want to make sure it doesn't happen.
Speaker 2 (03:41):
And then after everything comes in and you know, you
might be it might be tougher to get done. So
if you're in that realm of considering retirement and you're
in that realm of possibly doing some debt consolidation and
putting some things together before you get everything retired in,
you know, it's a you know, just give us a call.
(04:02):
Let's take a look at and talk to your financial
advisor and led we took it. Let you look at it.
Speaker 1 (04:06):
I don't know.
Speaker 2 (04:07):
We got a few more shows here for two off
along and we'll get to Katrina back on here talk
some more about tax deferred ideas and stuff that she
has if we can get her on here, Like get
Jim Woodrom out here and visit with him a little bit,
see what's going on in the real estate market with him,
the good people to have on the show and chat
with a little bit. I was trying to find the
information here where it said what the Beige book had said,
(04:29):
and Okay, this is what it came out. The Fed's
Beige Book becomes relevant again. This is a compilation of
feedback from various business contacts that report to the FED.
While my while most business report activity is steady, four
regions reported and decline. That's that's the significant as none
(04:51):
reported decline in the last report. The news made wig
on those FED Committee members that may be under the
assumption the business activity is still strong. One of the
speeches given this week, FED member Chris Waller, who's on
the short list for the next chairs, that he thinks
the neutral rate for FED funds is one to one
hundred and twenty five basis points lower than the current levels.
(05:12):
So at twenty five basis points of pop, that's four
or five more quick cuts to come. Yes, he's one
of the only person but a prominent voice in the
committee room. So bonds have been a bit volatile this week,
but continue to end up, you know, somewhere balanced out
on a flat line. So all of that being said,
that's just a little more in depth of you know,
what we were talking about in the verbiage on it.
(05:34):
And so you know, Tim says there's some stuff that's
going to be coming down the line that's going to
be that we think is going to be better, but
we don't know when and if, and there's still some
uncertainty on what's going to happen to him. Well, I
think it boilt down to you know, sometimes it's inconvenience
for our customers to you know, in my case, I've
(05:58):
got some clients that are kind of hole off because
they just want to go through this one more time
and be set for life, and I don't know when
that'll be, but they're toughing it out. That's having a
quarter and hopefully they're getting some benefit with the irs
on the entriest they pay on their loans. But I
can lead them to the water, but I can't make
(06:18):
them drink, Larry, And it's okay. I give them as
much information as I can, but it ultimately it's their decision.
Speaker 1 (06:24):
Yeah, oh yeah.
Speaker 2 (06:25):
And it's one of those things that you know, we
talked about it for years on here, Tim, that you know,
if you can save money today, why not. You know,
there's no guarantees of anything in the future. And I
think a penny saves a penny earned a couple of
months without a payment, and you brought it up last week.
Somebody gets a free finance going on now, they're gonna
have a couple of January, December, January, they probably ain't
going to have a payment at all.
Speaker 1 (06:44):
That free up a little bit that Christmas money. That's right.
Speaker 2 (06:47):
And I've had more inquiries this week for the blanket,
our blanket law. They're just blown away. They can't believe
it that we can do. You know, if they've got
the right actually position, and you know they're there, they're
the right fit for our blanket. I said, you know,
you closed it the first of a month. You're gonna
pay the interest for that month.
Speaker 1 (07:07):
You defer out the full payment for the next month.
Speaker 2 (07:11):
So you've basically gone sixty days without making a full
blown mortgage payment. That goes a long way getting your
house on a marketing, So without making a full blawn
working Yeah, I was putting one together. I talked about
what He's on the phone there for a second with
a guy and he's gonna borrow, you know, a little
bit more than what it's gonna take to complete the
transaction so he can do some things around the house.
Speaker 1 (07:29):
And I told him, as the worst case scenario, man.
Speaker 2 (07:31):
If you pay us back our own money for a
couple of months, you know, I mean, it's just you know,
you're just taking an advance on your equity, uh be,
prior to your sale.
Speaker 1 (07:39):
Then it is a good loan, and it's.
Speaker 2 (07:40):
A it's a it's handy because then you don't have
any contingencies in your purchase offer, you know, And that's
what that frees up. What for people well, and there's
one of the cases is that and they haven't really
outgrown their home, but they have aging parents that as
a stop gap of assisted living, they're building a house
(08:03):
that can accommodate parents aging parents. So that's the investment there.
So both of the mothers are selling their properties and
they want to be on the d and that's fine
because they're going to bring the proceeds into the lower
their loan balance down that they're going to be required
(08:24):
to take initially on the blanket, we're not going to
you know, they're going to be a really good fit
for us given that scenario, because there's a loan to
value on both properties. It's going to be you know,
probably sixty seventy percent. We'll go to eighty percent of
the value of the two properties. But it's a little
more complicated than your average loan, and you're really getting
(08:45):
a cash out loan to go buy the house with cash.
Speaker 1 (08:48):
Taking advance on the equity influce.
Speaker 2 (08:49):
So if everything plays out right in this case, I
just think they're going to be great candidates. And when
all the dust sells and they sell their house and
they have additional funds coming in that they're going to
take care of their parents. You know, they can reduce
their footprint with a principal reduction. Want some and we'll
recast that note. So we did some math and they're
(09:12):
going to be down to maybe one hundred and forty
thousand at the end of the day, going to start
out at four hundred and something, and hopefully we still
got a customer that they don't pass completely off when
the dust settles. But I think that they will carry
the mortgage. And I told them, and you know that's
nothing wrong with that. Any that interests is a taxiductible expense.
But ye, now, great program we have. Now let me
ask you this. They're going to the home that they're
(09:34):
going to make living quarters in both places. They're just
going to keep it, you know, kind of neutral though,
because remember we've been through where somebody's got a living
quarters in the back of the house on top of
a garage something. See it's a four bedroom or bedroom
home and all the bedrooms are upstairs. So I don't
know that's going to work. She said, well, we'll just
put in a lift chair. Yeah someday. Yeah, all right,
because I mean, you know, some people, because then you
(09:54):
can't get them to praise out and you know, you'll
actually Mom's going to have a bedroom and then Mom's
going to have a sitting room.
Speaker 1 (10:01):
Google. Yeah, they've made provisions. It sounds like they've got
a good plan. Yeah. And the other there's going to
live in the basement. Yeah, and it's got a walk
out basement. Yeah. So the other yeah. So I mean,
you know, it's uh, they need two chairman. Yeah, wanted
to get down and wanted to get up.
Speaker 2 (10:18):
Actually yeah either what he get one on these floor, Yeah,
get one to get from the basement, handle two the basement.
May be able to figure something out, we're and go
from the basement to the second floor.
Speaker 1 (10:28):
I don't know.
Speaker 2 (10:29):
Yeah, but it's uh, you know, I've we've had a
situation where somebody had a mother's quarters on the upstairs.
Speaker 1 (10:35):
Of a garage in the back of the house.
Speaker 2 (10:36):
They put a bunch of money into it, and it
was tough to you know, then becomes multi use because
then you got two residences with two separate electric boxes
and all that stuff on the probab it is, but
there's yours is not going to be. But it's people
were doing, you know what these people were doing, just
in a different capacity.
Speaker 1 (10:52):
But don't overbuild the neighborhood.
Speaker 2 (10:54):
When I was getting to just make sure that you
keep it fairly banilla so that you.
Speaker 1 (10:58):
Can, you know, have a marketable home.
Speaker 2 (11:01):
In the end and you don't have something that's that's odd,
but it's I got it right, around a half a
million on this deal. So yeah, of the new purchase price, right,
and that's in the in this area. You think I
don't know where the property is uh at this point, yeah,
very We're just started the preliminary discussions. And she was
just delighted because she had been suffering from this anxiety
(11:25):
and stress over you know, And that's there.
Speaker 1 (11:29):
It's a it's.
Speaker 2 (11:30):
A pie char it's a you know, cat and mouse
to get your household and get the new house bought.
And you want to go ahead and if you can
go ahead and buy the new house, and then you've
got the time to transition into it.
Speaker 1 (11:43):
And that's what the blanket provides. Peace of mind.
Speaker 2 (11:46):
Yeah yeah, and an old contingency, right you thinking about
the house of no contingencies and that's you know, got
two step long closing process.
Speaker 1 (11:54):
But that ain't a big deal, but you know, you
got you know, I think.
Speaker 2 (11:56):
That's what twenty five hundred dollars and closing costs or
something like that somewhere maybe a little bit us you
got two appraise a little two and two of everything
so nine forty eight times two. But we're gonna take
our first break of the day. We're gonna talk a
little bit more about credit and cost closing costs. Some
of those things got the cats. This evening, seven o'clock,
Texas is coming to town. Pregame starts at five thirty.
Gonna be listening to Kevin Thomas to Day on the radio.
(12:17):
You catch them on Spotify and all your music sources
out there, Facebook, Meek, Kevin Thomas, Good the wood down
here in Sumrset area.
Speaker 1 (12:24):
So anyhow, we're gonna take a break. You're listening to Welcome.
Speaker 2 (12:27):
Home Show by Guardian Savings Bank. We're open today from
nine to one. Phone numbers eight five nine, eight nine
nine one nine three six and you've been listened to
us on News Radio six thirty.
Speaker 1 (12:37):
That's w LAP. We'll be right back.
Speaker 2 (12:40):
You're back listening to Welcome Home Show by Guardian Savings Bank.
Speaker 1 (12:43):
Tim Madam's Larry Frank's in here with you this Saturday morning.
Glad to have you tuned into us.
Speaker 2 (12:47):
Gonna be a lot of new people hanging out in
town today, so be on your toes UK and Texas
to night at seven o'clock Paul Coffin was in town
last night, down into a Manchester music hall and there's
a lot of people ten you said, what are hotel
rooms going on?
Speaker 1 (12:59):
Seen was high as one thousand a night.
Speaker 2 (13:01):
I guess there's a lot of interest from the Texas
faithful come in here and first time into Conwell Stadium.
Speaker 1 (13:08):
Yeah, and you got Keveland, you know, like.
Speaker 2 (13:10):
Like Kentucky, a lot of the diehard fans in Texas
may not be able to get tickets in Texas, but
they've probably bought packages. They've probably been promoting packages to
come here to watch. I'm sure they've allotted some of
the stadium capacity to Texas fans.
Speaker 1 (13:26):
Sure, yeah, they do. Everybody up to town.
Speaker 2 (13:28):
So yes, like Kentucky, you know, if you can't get
tickets at Reparena, you can go up to Indianapolis or
you know some of these games they play outside of
repp Aerna and get tickets like they did they went
to what upn Or they played up where the Philadelphia
seventy six ers played last.
Speaker 1 (13:40):
Year, And yeah, brand you get tickets. Way, We're open
today from nine to one.
Speaker 2 (13:45):
By the way, Founders eighty five nine eight nine nine
one nine three six Southland Drive eight five nine two
six three three three three five. So if you can
hear us, you can call six and three eighths on
a thirty five eight seven five on a twenty and
five six two five on a fifteen And Tim and
I've been watching the bond market. We're going to see
what's going on with that. But if you're anything above
(14:06):
six and a half percent and you want to try
and consider refinancing and having a couple of month break
on your payments and you right scenario of equity and
credit and so on and so forth, as it costs
me as little as nine forty eight and that doesn't
include setting up your s CROs or the filing fee
of eighty bucks.
Speaker 1 (14:21):
But I mean that's you.
Speaker 2 (14:22):
Know what it's truly going to cost you to put
the loan together, as far as the praise, a little
title work, all the documents and stuff that we need
processing to get your loan together. So the other things
are called prepaid, so keep that in mind. But we've
got FHA V A, U, s DA well USDA right
now you can't get anything with them because the juvenments
shut down to anything in the pipeline that wasn't already proved,
(14:42):
is kind of on standby, but you know, still not
a bad time to apply for it because they will
open back up. You get everything in line and have it.
You just have to maybe have a little longer contract
and see what happens with that. But we've got, you know,
some competitive programs here. We just want to make sure
that we share with you what they are so that
you don't know. Now, we can't do boat loans, car loans,
or note loans, but you know, real estate only ten.
(15:05):
We can do commercial real estate, we do farms, we
do bridge loans. We've got adjust for rate mortgages. We've
got lot loans, construction loans USDA, FHA VA, Community Housing USDA.
I think I was looking at the jumbo rate today, Tim,
and the jumbo rate is six and three eighth, just
like a thirty year fixed on a regular conventional mortgage.
(15:27):
Anything about ATO sixty five hundred will be considered jumbo. Now,
if you're getting a house for RATO sixty five here
at the bank, thirty year sixt grade is six point
three seven five. If you get anything above that, it's
going to be six point three seventy five. Closing costs
is gonna be different. It's a whole different underwriting deal.
But that's not too bad, So keep that in mind.
So you're talking about maybe a million dollar home, now
(15:48):
you may need a jumbo if you get up in
that price range of jumbo loan might come into play,
depending on what you're bringing to the table and what
the final loan amount is going to be. But ato
six five hundred if one family or above, it's at
one point to me.
Speaker 1 (15:59):
And you cleaned into jump ball.
Speaker 2 (16:01):
Yeah, and when we get back here a little bit,
tim we'll talk about credit again and how important that
is and how to get it, do it, and make
sure that you maintain it and utilize that. And then
once again, you know, if you're staying in, if you're
staying on the radio today, about five thirty, the pregame
will start for the Texas UK game to sevening at
seven o'clock. First time Texas has come to town. So
it's gonna be a big deal and there's a lot
(16:21):
of people planning on. I had some friends from Illinois
that are coming down just to see that. You know,
their daughters goes to school down here, and so they're
gonna come down check it out and there's gonna be
a lot of people out about Keenland going on.
Speaker 1 (16:33):
Weather's good, you know what I mean.
Speaker 2 (16:35):
It's nice fall weather rolling in on us already, and
already I should say it's the middle of the month,
but middle of October, thank you. I guess this is
about right time for it to start chilling out a
little bit in my book.
Speaker 1 (16:46):
Good change of pace for me.
Speaker 2 (16:47):
Yeah, what's the farmer's arm and act say about what
the weather's doing?
Speaker 1 (16:53):
I don't know. Just keep us in mind.
Speaker 2 (16:54):
I mean, we've got some great loan programs and we
can help you. If doesn't make sense, we can't do
it anyway, But we'll talk a little bit about credit
in the next section and go from there.
Speaker 1 (17:01):
Tim might have some picks for the track today.
Speaker 2 (17:04):
You always say four across the board on the four
and the fourth and kind of know what happens from there.
Speaker 1 (17:07):
It's pretty easy to remember. But I haven't really haven't.
Speaker 2 (17:10):
Been to Kentland yet, you know, So watch them online
and see what's going on with that. But that's about
as far as I'm able to take it at this point.
But it's fun.
Speaker 1 (17:20):
Tim.
Speaker 2 (17:20):
You've got several different strategies on how you bet you know,
you got maybe there's a horse out there like gun
Runner or Candy Ride or something. Sometimes you like the connections,
you like the trainer and the rider. Yeah, owner maybe
and and so I mean some people picked by the collars,
some people picked by the name. I had a buddy
money and the horse had a name gold in it.
They would put money on it that could have been
(17:42):
fools gold on occasion for all I noticed. But that's
why they call it Camler. But it's it's a good time.
And if you're in town for the first time that
a Kentland enjoy yourself. Be safe and it is beautiful,
and have fun, take a lot of pictures and be safe,
you know, and get around and just have a great time.
So we're gonna take another break when then we'll be
(18:04):
right back after that.
Speaker 1 (18:05):
Banks Over Day from nine to one.
Speaker 2 (18:06):
Phone Umber's eight five nine eight nine nine one nine
three six that's here twenty five forty one, Sir Barton
Way Southland Drive is eight.
Speaker 1 (18:13):
Five nine two six three three three three five. So
if you can hear she can call us.
Speaker 2 (18:17):
You are a listening to the Welcome Home Show by
Guardian Savings Bank on news Radio six.
Speaker 1 (18:21):
Old Wild cast w L eight eare right fat do
you back?
Speaker 2 (18:28):
Listen to the Welcome Home Show by Guardian Savings Bank
Allry Frank kem Adams in here with you this Saturday morning.
Banks open to day from nine to one. Phone Umber's
eighty five nine eight nine, nine one nine three six
Southland Drives eight five nine two six three three three
three five.
Speaker 1 (18:44):
So if you can hear, she can call twenty five.
Speaker 2 (18:46):
Forty one Sir Barton Way over in Hamburg five oh
one Southland Drive over on that corridor town So Jamie Mortimer,
Aaron O'Brien, Alex Malanie, Jim McKenzie working out of that
branch over there. Of course right here, we've still got
the uh same old crew here on the Sir Barton Way.
Alex Tingle, Lorie Hawkins commentaries, Rob McBride, Richard Clunch and
(19:11):
then yours truly and Tim are in here and just give.
Speaker 1 (19:14):
Us a call.
Speaker 2 (19:14):
We'll put something together and just eight five nine, eight
nine nine six. You can get online if you want to,
but please call us ask for the local representative. They
might hook up with somebody up north. They're not They're
good people and you're going to get the same deal.
But we like to do it here. So if you
can keep that in mind, just uh, we'll work with
you on now. And Tim, I want to talk a
(19:35):
little bit about credit again. I had had a couple
of conversations this week with some people that are our
age and they've got their kids and they've you know,
their credit getting them started and so on and so forth,
and uh, they have authorized.
Speaker 1 (19:51):
Users, you know.
Speaker 2 (19:52):
I with my girls, I put them on his authorized
user on account to get something in the credit girl
and then as they got older and got their own
stuff going. Obviously that was not element, never was used
or anything, but it got them in the system. And
after that point, to maximize and get the best credit
score you have, you have to have three open lines
of credit in some capacity with a history that shows
that you're managing your money well, making your payments on time.
(20:14):
You want to have a little balance on them as possible.
And so one of the kids I was working with
out of Dambo area recently, I was like, you know,
you're gonna have to get a gas card.
Speaker 1 (20:23):
You're gonna have to get something.
Speaker 2 (20:26):
You can go to the mall over there and get
a credit card, buy a wallet and then get that
account open, get your ten percent discount, pay it full,
you know, and just.
Speaker 1 (20:34):
Let it sit.
Speaker 2 (20:35):
You know, if you get a gas card or something
that you can use, you know, let the gas go
all month, put it on auto deduct and then at
the end of the month, let it pay it off
and then that'll help you. The other thing, you get
cell phone bill or something. All right, I'm gonna I've
got a little card. I'm gonna put it on this
my cell phone bill out. You're gonna pay it anyway.
You're just having that third piece of transaction, and if
you paid it a full every month, that's not cost
(20:56):
anything in the long haul anyway. But Tim, everybody, we're
all as saying that credit score is so important that
a lot of people, you know, the credit score is
helps us and it helped lets us know your borrowing
history and your payback ability and the you know, the
things that we can put together for you are based
(21:16):
on that score. And you know, what's the highest score
you've ever seen? Eight sixty Yeah, I don't know if
I've ever seen one of that idea, So you know,
and then you know it's and it changes all the
time based on the analytics that come into play and everybody.
Scores are just just based on balances, length of time
(21:36):
in the bureau, the type of credit that you have.
You know, I can't we can use it out of
necessity if needed, you know, to get to create file
for FHA or first time home by our program. We
might have to create a file for where you using
monthly payment per gas, water, electric, but those don't show
up on your credit bureau otherwise, so those aren't doing anything.
Speaker 1 (21:57):
You have to have an open line of credit.
Speaker 2 (21:58):
That's been extending to you from your credit union, your
bank or whatever, and get that going and then that'll
help maintain your you know, your credit score. At least
three open items, not too many more than that. But
you have to have something. And my oldest daughter, she
don't want nothing.
Speaker 1 (22:12):
Thinking she don't want nothing, she don't want to I said, honey,
I ain't always going to be here.
Speaker 2 (22:16):
My other daughter gets it. She got her little three things.
But you know, the b oldest ones like that. I
don't want to owe anybody anything, and I get it,
there's a lot of people out there. But if she
does need something, you know, we don't have anything to
go by. And that's what it has to you know
that's where you have to go. Well, my train of
thought there letterry is it especially for someone your daughter's age,
(22:36):
you know younger and Jim Z or whatever they are
can't keep up but now they're just regularly.
Speaker 1 (22:43):
But you know that debit cards are not helpful.
Speaker 2 (22:48):
Nope, And most debit cards I have seen here recently
where there are some online credit card companies that do
offer debit and reform, but typically your debit card at
where you have your checking account does not report. So
you're buying gas and groceries every week or every every week,
(23:09):
and there's a monthly expense there. So the train of
thought there is, get off the debt, get you a
solid you know, a Discover card or wherever you get
the best deal, and pump your gas, buy your groceries,
and pay it back every month as if you have
the money in your account. Like you want a debit
(23:29):
that reports, that gives you some grounding on your credit score.
And you know a lot of people have the misconception
ten that the cable bill and all that stuff reports
on there. It won't report on there unless you mess
it up, unless you don't turn something in or don't
pay it, and you don't want to, you know, ever
have that happen. Another thing is is, you know, if
you're getting to a point where you're going to end up.
(23:51):
You got some roommates and you guys are your leases
up and you're moving out and moving on, and somebody's
got the water in their name, somebody's got the cable
in their name or whatever. When you leave and something
in your name, you cut it off. Don't count on
somebody else to stay another week or two before they
start their job or move out or what have you
to take care of it for you, because if they don't,
it's gonna mess you up. And I've seen that time
and time and time again in my career where somebody's like, well,
(24:12):
I had to leave started my job. I left in
the middle of the month, but Bob was gonna get
the cable box turned in and do this or do that,
and he didn't do it, and then all of a
sudden it shows up on the guy's credit. I for god,
you know, I had the car and I was gonna
take it down there, or you know, last person's gonna
turn the water up. Be on your toes for that.
Try not to let that happen. You're gonna have to
look after you, and that's always the most important thing
(24:34):
to do anyway, because it's everybody else in it was
gonna look after you. But those are a couple of hents,
but just three open lines of credit. And then and
headed into the wintertime, it's not gonna be too hard
to do. You're gonna have some people when you go
into shop or Christmas shop, or you like to open
up a car, we'll give you a thirty percent discount.
And you may not have any credit at all, but
they will, they will make an exception during this time
(24:55):
of the year in some circumstances and a lot of
circumstances to let you get a credit card. If you're
down on campus and you're listening, or you got kids
on campus or whatever. Remind them be very aware of
the offer that the credit that's offered them on campus,
because a lot of people will get a credit card
not realizing the responsibilities of it tim and then all
of a sudden they've got a you know, eleven thousand
(25:17):
dollars discover card balance and they didn't taking everybody out
to dinner and eating here and eating there, and you
know they're paying a little bit of the time on it,
but it can, you know, can get out of hand
on you if you are careful. And I'll be honest
with you, I've got a little more debt now than
I've had in a long time, and I even want
to have. But with medical stuff that I had going,
I had to do a little hair and a little there,
and a little bit of traveling and some stuff. And
so I'll get a nipped here for long. But so
(25:40):
we all go through it, and we do it through
a living, you know, we do it for a living.
It's just important to you understand how the credit bureau
works and how to help you. And it's just like
I guess, just like in class tim everybody starts off
with an A until you start testing, you know, and
then credit reports the same way.
Speaker 1 (25:56):
You can start off and have it open.
Speaker 2 (25:58):
And not have any blemishes and be clean as a whistle,
and then all of a sudden, one blemish can set
you back so and not thirty day late, and you
don't want you don't want to have that. But you know,
I find that that some kids ten are.
Speaker 1 (26:11):
Are very very aware of their credit.
Speaker 2 (26:13):
They don't want to have any you know, But that
and I'm proud of that, and I'm you know, I
see people that are young to have a lot of
money saved that because of it, in my opinion. And uh,
but you've got to have some credit scores, don't you agree.
I mean you have to have it. You can't get
out and Dowty absolutely you can't buy a house without
good credit. And of course that's why you know, some
(26:34):
of the other government programs that exist like FAHA and UH.
USDA is like a six sixty and I've seen some
Lenners investors that will go down to six hundred on FAHA,
but that's you know, it's just ane. It's more flexible
to do those launch uh and that's for a reason
because everybody don't have the credit scores, but you can
(26:57):
get there. But mainly FAHA, I think designed to be
a first time buyer loan and hopefully you're moving to
another house and turning that money back in and getting
the conventional loan in five years. I think that's the
logic there, right with FHA. Use that money and then
give it back and give it to somebody else to
use and get you a conventional loan on your next purchase.
(27:19):
And if you have an FAHA loan right now, and
you've had it for a little while and you want
to get out of it and get rid of.
Speaker 1 (27:23):
That mortgage insurance.
Speaker 2 (27:25):
Even if you're at six and a half or six
six two five or something, give it. You know, if
we'ren't six and three eight, you're going to get a
lower rate and get rid of that mortgage insurance. So
we're going to save you some money on rate, then
we should be able to save you some money off
that mortgage insurance. And that mortgage insurance will never come
off that loan. So if we have to do it
now that you've been in the house a little bit,
you developed a little equity, you may still have mortgage insurance,
but once you get to a certain point, it's going
(27:46):
to fall off. But part of the mortgage insurance program
on FHA that you're paying too all the time offsets
the losses for people who because they don't have any
much money in skinning the game in their life. To
start with tim, if something goes south, and you know
what I mean, it's easy for him to walk away
from it. So that you're paying into a pile of
money to help off set losses that other people may
(28:08):
create and so it's not going to affect your you know,
whatever your payment is, it is what it is. Your
taxes and insurance can go up, but they're not going
to change, you know, what your cost is. But if
you come in here and your refinance and we can
take you from one hundred and thirty seven dollars a
month mortgage insurance with FHA to sixty seven or fifty
seven or whatever it may be, and then if you
(28:28):
stay in the house long enough, it'll come off on
its own. But faha, you're gonna have that insurance on
there the whole time. And and uh so, but that's
because of that, that's because it's such a lope down
payment program. So we got a faha loan and you
want to do something different, be glad to talk to
you about usd any of the loans that you got
in your house with. You know, we take a look
(28:49):
to if a refinance makes any sense. Tim, it's we
just got to, you know, get to give us a
call eight five nine eight nine nine nine three six
as listen to the radio show, and and I just
wanted to, you know, have some look at my information,
see what we can do and we'll have a plan,
we'll have a vision, we'll put something together or ten
years good as anybody and saying, hey, this is what
I think is gonna happen with the rate. This is
(29:09):
what I think we should do, and that's what they
can count on from any loan officer in here, in
all reality, would you say, absolutely, we're going to try
to put you in the right program at the right time.
But you know, I've got folks that are they're waiting,
they're at seven a quarter, and those are loans that
are originated in twenty twenty three, and we're we've seen
(29:34):
this improvement gradually over time since twenty twenty three to
where we are in the low sixes. And we're optimistic
that we can spur more people here in the weeks
to come with some better rates. But it's no foregone conclusion.
The Feds are pretty powerful and they can do what
they want on their.
Speaker 1 (29:54):
Terms, right, And we'll keep you at breath of that.
Speaker 2 (29:57):
I mean, we've had pim you know, we've had people
that'll refinance with us a couple of times a year
if need be. You know, if rates come down, we'll
keep you know, we'll keep an eye we'll stay in
touch with you. If we can work with you on
saving you some time and money, that's what we want
to do. And and if do it, do it interest
rate through getting rid of mortgage insurance or even if
you have mortgage insurance on a conventional loan. Now that
(30:19):
you create a little equity over the last year and
the houses are appreciating the necess area between six and
a half and eight percent, depending on where you're at
what's going on, we would be able to, you know,
maybe get you some cheaper on that too, so save
ray have a couple of months without a payment and
then maybe save some money a mortgage insurance if you
still have it. But you know, you don't ask if
you don't know, and you just got to give us
(30:40):
a shot. So we got one more part of the
show left, and we'll talk a little bit more about
what's going on around town today and visit get to
talked about more about different ways of handicapping and look
at the horses and so on and so forth. But
banks open to day from nine to one. Phone number
here on Sir Barton is eight five nine eight nine
nine one nine three six southand drives eighty five nine
two three three three three five, So if you can hear,
(31:02):
if you can call.
Speaker 1 (31:02):
Off once, you give me a living.
Speaker 2 (31:03):
You're listening to music today by Kevin Thomas, guy out
of Somerset area. Got some songs out and we appreciate
you Spotify iTunes find him on Facebook.
Speaker 1 (31:11):
But we'll be right back. You our listened Welcome Home
Show by Guardian Savings Bank on news Radio six thirty
w Lad, We'll be right back.
Speaker 2 (31:20):
You're back listening to the Welcome Home Show by Guardian
Saves Bank, Larry Franks and Tim Adams in here this
Saturday morning.
Speaker 1 (31:27):
We're glad to have you tuned into us.
Speaker 2 (31:29):
Glad to have all the visitors in town for Keenland
Texas and concert last night. So hope everybody's having a
good time. Be safe, uber around, do what you need
to do. They'll be drinking and driving. Take care of yourself,
you know, just enjoy it. We appreciate having you come
to town. Guardian Savings Bank located twenty five forty one,
Sir Bartin way right here in Lexington. Phone number again
eight five nine eight nine nine one nine three six
(31:51):
six point three seven five on a thirty year fix
five eight seven five on A twenty and five point
six two five on a fifteen, So about nine hundred
forty eight dollars in closing costs. That covers everything. But
you're escual establishment, praise, will, title work, document preparation, underwriting,
all that stuff in there, and to claim to fame
for nobody's ever heard the road, the show Today or
(32:11):
anything here about Guardian Savings Bank. We service our loans.
We have about three and a half being in servicing
pinky something like that, so the payback's truly in the payback.
We're not gonna kill you in closing costs. We're gonna
follow them Fanny may or Freddie mac underwriting guidelines. But
you know we we we're just gonna service your loan,
so you'll wind up paying us in the long haul.
(32:32):
On the government loans, the f h a v A
and those types of things, we're not paying. You know
that those we don't service, so you're gonna wind up
paying somebody else eventually, and they'll both those up and
sell them. But closing costs are different on those as well.
But we do do a good job of them. We
do do a.
Speaker 1 (32:46):
Lot of them.
Speaker 2 (32:47):
We've got some fantastic programs out here, all right. So
back to the horse racing stuff. Some tend Some of
the stuff that I kind of look at on occasion
is if I'm looking at a horse and I got
you know, I'm looking and seeing, first off, the way
horse races. Once a horse wins a race, that's that's
a notch in his belt. He's he's knocked that off
his bucket list. He can't go back and win the
same race twice. As far as the race set up.
Speaker 1 (33:10):
You got to step up his game. Yeah, you got
it right. You can go up pretty competent, so you
got to.
Speaker 2 (33:15):
So, you know, sometimes I look at that if somebody's
coming down in class, you know, over the last they
were in for one hundred and twenty five thousand, now
they're running for seventy five or sixty, or if they're
going from sixty to one to twenty five, then you
want to look at the quality of horses they ran against,
some of their speeds and workouts and so on and
so forth. I like to look and see if something's
going turf to dirt or vice versa. And I think
(33:36):
that sometimes, you know, these people get out here and
the horses run four or five times they're trying to
find out where it's fitting, and so they might try
it on the turf a couple of times and then
it may or may not do okay, and then they
bring it back to dirt.
Speaker 1 (33:47):
You know what I mean.
Speaker 2 (33:48):
That's kind of an angle that I like to look at.
I look to look and see, you know, if there's
jockeys in town and how many rides they've got each day.
Sometimes you'll see, like Mike Smith or some of these
jockeys come in tim and they all in there for
one race, you know what I mean. There might be
ten races all day long, but they only riding one horse.
So I kind of look at that angle to si
if it's the deal. And then owners and trainers, I mean,
(34:10):
those guys know where they want to place their horses.
Speaker 1 (34:13):
You know, they're the all all in the house.
Speaker 2 (34:16):
Sometimes that's a giveaway, but you don't have to get
to in depth of just have some fun.
Speaker 1 (34:20):
And you know, one of.
Speaker 2 (34:21):
The things we've done before is just everybody put in
ten or twenty bucks and everybody decide on what horse
we're going to do. Just put it to show, and
you know, once it comes in and take the money
half of it, do it again. If you run out
of money, re up. But everybody get six, seven people
or how many people's in your group. Everybody put in
ten bucks and you put you know, half of it
to show on the whatever horse. And if it comes
(34:45):
in and you take that money, add it to your pile,
spend half of it, and then hopefully by the end
of the day everybody walks out of there with some
with some cash and you don't have to re up
at any time. But we've done that at time or
two and come out with a pocket full of money.
We've re up to time or two and wound up losing.
But if you're you know, just a few different ideas.
I had somebody one time they would bet on which
(35:05):
horse would come back across the finish line first after
the race.
Speaker 1 (35:08):
Yeah, you know.
Speaker 2 (35:10):
So it's just there's all kinds of different things to
have fun with it, and it's gonna be crowded.
Speaker 1 (35:14):
It's a lot of great people out there in a
big day.
Speaker 2 (35:17):
So well, I can't ever think of a better weather
for a meat than we've had. And the only day
at rain was a day that the track was dark
and we needed the rain, and we probably still need
more rain, but man, we got a day lose there.
I think that helped the condition of the track. And
they just hit the jackpot with weather this.
Speaker 1 (35:36):
Year, yep, and we were due for it. So we
hope you have a good time with it.
Speaker 2 (35:40):
We're having fun and we'll pick them out a little
bit on twin spires or fan duel or whatever. You
get on too, but like to look through them and
see what's going on and see what we can get
out of it. But it's really just fun and I
had a good time to get into it. So you
don't have to bet a whole lot. Two dollars across
the board cost you six bucks. I think you can
put a dollar across the board if you want to.
Some people play their birthday, you know, just whatever I
(36:04):
mean after nine to eleven. I played exact the box
one two three every race for a long time and
want a lot of money just doing that, you know,
so you know this exact is where you you know,
the courses have to come in first and second and
do an exact box. You can do one, two, three,
and any of those come in and whatever order three
one two, two, one three whatever whatever. The first two
horses are are your winners. So it's a it's fun
(36:26):
and it's a it's a good time. And there's been
times I just felt like I should just send them
a check ten because I couldn't pick a winner. I
couldn't pick my mom out of a police line up
to to be correct on anything. And then sometimes you know,
if you get on a roll and pay attention, have
time to handicap, you can win some money but enjoy.
Speaker 1 (36:41):
Your time in Lexington.
Speaker 2 (36:43):
You've been listening to the Welcome Home Show today by
Guardian Savings Bank and we've been around here for a
long time. We like to decide be local, by a
local and stay local. That's what you get here Guardian
Savings Bank. We service loans. You can come in here
and make a payment, do what you want to do.
We're six and three eighths on a thirty year fix
five eight seven five on a twenty five six two
five on a fifteen two ninety nine Closing costs special
just saw an ad for that tim so the instead
(37:05):
of nine fortyges two ninety nine and nine cover everything
you need and you can have a couple of months
without having a payment headed into the Christmas time season.
Speaker 1 (37:13):
If you need a little extra Mama, don't know money
for the track for the cover. I'm just teasing, but
have a great time. Enjoy Lexington.
Speaker 2 (37:23):
You got the pre game of five point thirty Riding
here on six thirty WLAP Texas and UK live at
seven pm.
Speaker 1 (37:29):
Banks open against nine to one for them is eight
five nine eight ninety nine one nine three six.
Speaker 2 (37:34):
If you can hear what you can call it you
been listened to Welcome Home Show by Guardian Savers Bank
on News Radio
Speaker 1 (37:38):
Tex thirty w LAP AM Golt Cats
Good morning. Like contin your listen to Welcome Home show
by Guardian Savings Bank. I'm very freaks. Tim Adam's in
here with you this Saturday morning as usual, glad to
have you tuned into us.
Speaker 2 (00:14):
Bank is over to day from nine to one when
them is eight five nine, eight nine nine one nine
three six South of Drives eight five nine two six
three three three three five.
Speaker 1 (00:23):
So if you can hear us, you can.
Speaker 2 (00:24):
Call us, be glad to help you with any of
your mortgage needs. But and then the bank here we
got our checking and savings and CDs and you know
passbook savings accounts and all those things as well, so
give us a call. You didn't need any of those,
but uh, Tim, and I can't do you a note loan,
boat loan or a parlaan, but uh, you know, we
(00:46):
just do mortgages only. And Tim, we've been you got
to talk to you, had you a couple of applications
this week. I've got me a couple of applications this week.
Speaker 1 (00:52):
And we've been kind of building.
Speaker 2 (00:55):
The pipeline up here with people getting off the snide
and it's been a little crazy because the government's up down,
so you know, when's going to happen. There's going to
be an improvement in ranks. We watched the bad markets constantly,
and so far are thirty or the fixed rate mortgage
programs aren't quing on bondiles at this point. And a
(01:15):
lot of was already baked in to the decision that
was made, you know, last month to lower the FED
fund rates to only a quarter. So now they're the
new FED chairman to be it looks like he is
talking three or four more cuts. Then you're on palace
talking about well, the only thing that has come out
this week is the Beige Book, and it showed that
(01:37):
some of the information that comes into the FEDS the
things had gotten a little worse in the in the
business industry, and that wasn't expected at all. So, you know,
the guy kind of in his speech said, hey, you know,
we're looking maybe making a few more changes that this
information is true and accurate.
Speaker 1 (01:52):
There's one of your clients calling him. You need to
take that.
Speaker 2 (01:54):
I'll keep going doing the show now that's okay. So
but yeah, I mean it's uh, he'd go, tip, I
take this cike of a loan client calling in and
it happens. So AnyWho, we have. I'll tell you what
I got pulled together this week. And as I put
together a bridge loan for a god a spine of
(02:14):
property down in Florida. He's got a property around this area,
and you're gonna have a put bridge loan put together.
Speaker 1 (02:19):
And he's gonna buy him place down there.
Speaker 2 (02:21):
And uh, you know, that's something I haven't always been
able to do, but I'm glad that we're able to
do it. And I've got several purchase loans out and going,
you know, just going with that. People are finally getting
out and buying some stuff. And uh, like we say,
marry the home, date the loan and just we'll stay
in touch with you for nine hundred and forty eight bucks.
And you skip a month's a couple of months payments,
(02:42):
it don't take long to break even on what the
closing costs are in here. And even if they're above that,
if you've got a delivery fee or something along those line,
you're wanting to do something, give us a call. I
that makes sense, we'll do it. Not no, not going
to let us do it. Anyway, keep in mind if
you're in the UH age range or in a situation
where you're gonna be considered retirement soon. Now's a good
time to look at your mortgage and see what's going
(03:04):
on and have a plan for that. We talked about
the last several weeks, and what we want to do
is is, you know, point out the fact that once
you get on a fixed income, it's not always easy
to do a refinance if you need to at that point.
And a lot of people are on short lower rate
fifteen year terms, which is a pretty good chunk of change.
The long the other thirty years at a higher rate
(03:26):
makes the payment less. But once you get on that
retirement income and you don't have any more overtime or bonuses,
there could be you know, a tough time for you
in getting qualified in any new loan capacity, and.
Speaker 1 (03:40):
That's what we want to make sure it doesn't happen.
Speaker 2 (03:41):
And then after everything comes in and you know, you
might be it might be tougher to get done. So
if you're in that realm of considering retirement and you're
in that realm of possibly doing some debt consolidation and
putting some things together before you get everything retired in,
you know, it's a you know, just give us a call.
(04:02):
Let's take a look at and talk to your financial
advisor and led we took it. Let you look at it.
Speaker 1 (04:06):
I don't know.
Speaker 2 (04:07):
We got a few more shows here for two off
along and we'll get to Katrina back on here talk
some more about tax deferred ideas and stuff that she
has if we can get her on here, Like get
Jim Woodrom out here and visit with him a little bit,
see what's going on in the real estate market with him,
the good people to have on the show and chat
with a little bit. I was trying to find the
information here where it said what the Beige book had said,
(04:29):
and Okay, this is what it came out. The Fed's
Beige Book becomes relevant again. This is a compilation of
feedback from various business contacts that report to the FED.
While my while most business report activity is steady, four
regions reported and decline. That's that's the significant as none
(04:51):
reported decline in the last report. The news made wig
on those FED Committee members that may be under the
assumption the business activity is still strong. One of the
speeches given this week, FED member Chris Waller, who's on
the short list for the next chairs, that he thinks
the neutral rate for FED funds is one to one
hundred and twenty five basis points lower than the current levels.
(05:12):
So at twenty five basis points of pop, that's four
or five more quick cuts to come. Yes, he's one
of the only person but a prominent voice in the
committee room. So bonds have been a bit volatile this week,
but continue to end up, you know, somewhere balanced out
on a flat line. So all of that being said,
that's just a little more in depth of you know,
what we were talking about in the verbiage on it.
(05:34):
And so you know, Tim says there's some stuff that's
going to be coming down the line that's going to
be that we think is going to be better, but
we don't know when and if, and there's still some
uncertainty on what's going to happen to him. Well, I
think it boilt down to you know, sometimes it's inconvenience
for our customers to you know, in my case, I've
(05:58):
got some clients that are kind of hole off because
they just want to go through this one more time
and be set for life, and I don't know when
that'll be, but they're toughing it out. That's having a
quarter and hopefully they're getting some benefit with the irs
on the entriest they pay on their loans. But I
can lead them to the water, but I can't make
(06:18):
them drink, Larry, And it's okay. I give them as
much information as I can, but it ultimately it's their decision.
Speaker 1 (06:24):
Yeah, oh yeah.
Speaker 2 (06:25):
And it's one of those things that you know, we
talked about it for years on here, Tim, that you know,
if you can save money today, why not. You know,
there's no guarantees of anything in the future. And I
think a penny saves a penny earned a couple of
months without a payment, and you brought it up last week.
Somebody gets a free finance going on now, they're gonna
have a couple of January, December, January, they probably ain't
going to have a payment at all.
Speaker 1 (06:44):
That free up a little bit that Christmas money. That's right.
Speaker 2 (06:47):
And I've had more inquiries this week for the blanket,
our blanket law. They're just blown away. They can't believe
it that we can do. You know, if they've got
the right actually position, and you know they're there, they're
the right fit for our blanket. I said, you know,
you closed it the first of a month. You're gonna
pay the interest for that month.
Speaker 1 (07:07):
You defer out the full payment for the next month.
Speaker 2 (07:11):
So you've basically gone sixty days without making a full
blown mortgage payment. That goes a long way getting your
house on a marketing, So without making a full blawn
working Yeah, I was putting one together. I talked about
what He's on the phone there for a second with
a guy and he's gonna borrow, you know, a little
bit more than what it's gonna take to complete the
transaction so he can do some things around the house.
Speaker 1 (07:29):
And I told him, as the worst case scenario, man.
Speaker 2 (07:31):
If you pay us back our own money for a
couple of months, you know, I mean, it's just you know,
you're just taking an advance on your equity, uh be,
prior to your sale.
Speaker 1 (07:39):
Then it is a good loan, and it's.
Speaker 2 (07:40):
A it's a it's handy because then you don't have
any contingencies in your purchase offer, you know, And that's
what that frees up. What for people well, and there's
one of the cases is that and they haven't really
outgrown their home, but they have aging parents that as
a stop gap of assisted living, they're building a house
(08:03):
that can accommodate parents aging parents. So that's the investment there.
So both of the mothers are selling their properties and
they want to be on the d and that's fine
because they're going to bring the proceeds into the lower
their loan balance down that they're going to be required
(08:24):
to take initially on the blanket, we're not going to
you know, they're going to be a really good fit
for us given that scenario, because there's a loan to
value on both properties. It's going to be you know,
probably sixty seventy percent. We'll go to eighty percent of
the value of the two properties. But it's a little
more complicated than your average loan, and you're really getting
(08:45):
a cash out loan to go buy the house with cash.
Speaker 1 (08:48):
Taking advance on the equity influce.
Speaker 2 (08:49):
So if everything plays out right in this case, I
just think they're going to be great candidates. And when
all the dust sells and they sell their house and
they have additional funds coming in that they're going to
take care of their parents. You know, they can reduce
their footprint with a principal reduction. Want some and we'll
recast that note. So we did some math and they're
(09:12):
going to be down to maybe one hundred and forty
thousand at the end of the day, going to start
out at four hundred and something, and hopefully we still
got a customer that they don't pass completely off when
the dust settles. But I think that they will carry
the mortgage. And I told them, and you know that's
nothing wrong with that. Any that interests is a taxiductible expense.
But ye, now, great program we have. Now let me
ask you this. They're going to the home that they're
(09:34):
going to make living quarters in both places. They're just
going to keep it, you know, kind of neutral though,
because remember we've been through where somebody's got a living
quarters in the back of the house on top of
a garage something. See it's a four bedroom or bedroom
home and all the bedrooms are upstairs. So I don't
know that's going to work. She said, well, we'll just
put in a lift chair. Yeah someday. Yeah, all right,
because I mean, you know, some people, because then you
(09:54):
can't get them to praise out and you know, you'll
actually Mom's going to have a bedroom and then Mom's
going to have a sitting room.
Speaker 1 (10:01):
Google. Yeah, they've made provisions. It sounds like they've got
a good plan. Yeah. And the other there's going to
live in the basement. Yeah, and it's got a walk
out basement. Yeah. So the other yeah. So I mean,
you know, it's uh, they need two chairman. Yeah, wanted
to get down and wanted to get up.
Speaker 2 (10:18):
Actually yeah either what he get one on these floor, Yeah,
get one to get from the basement, handle two the basement.
May be able to figure something out, we're and go
from the basement to the second floor.
Speaker 1 (10:28):
I don't know.
Speaker 2 (10:29):
Yeah, but it's uh, you know, I've we've had a
situation where somebody had a mother's quarters on the upstairs.
Speaker 1 (10:35):
Of a garage in the back of the house.
Speaker 2 (10:36):
They put a bunch of money into it, and it
was tough to you know, then becomes multi use because
then you got two residences with two separate electric boxes
and all that stuff on the probab it is, but
there's yours is not going to be. But it's people
were doing, you know what these people were doing, just
in a different capacity.
Speaker 1 (10:52):
But don't overbuild the neighborhood.
Speaker 2 (10:54):
When I was getting to just make sure that you
keep it fairly banilla so that you.
Speaker 1 (10:58):
Can, you know, have a marketable home.
Speaker 2 (11:01):
In the end and you don't have something that's that's odd,
but it's I got it right, around a half a
million on this deal. So yeah, of the new purchase price, right,
and that's in the in this area. You think I
don't know where the property is uh at this point, yeah,
very We're just started the preliminary discussions. And she was
just delighted because she had been suffering from this anxiety
(11:25):
and stress over you know, And that's there.
Speaker 1 (11:29):
It's a it's.
Speaker 2 (11:30):
A pie char it's a you know, cat and mouse
to get your household and get the new house bought.
And you want to go ahead and if you can
go ahead and buy the new house, and then you've
got the time to transition into it.
Speaker 1 (11:43):
And that's what the blanket provides. Peace of mind.
Speaker 2 (11:46):
Yeah yeah, and an old contingency, right you thinking about
the house of no contingencies and that's you know, got
two step long closing process.
Speaker 1 (11:54):
But that ain't a big deal, but you know, you
got you know, I think.
Speaker 2 (11:56):
That's what twenty five hundred dollars and closing costs or
something like that somewhere maybe a little bit us you
got two appraise a little two and two of everything
so nine forty eight times two. But we're gonna take
our first break of the day. We're gonna talk a
little bit more about credit and cost closing costs. Some
of those things got the cats. This evening, seven o'clock,
Texas is coming to town. Pregame starts at five thirty.
Gonna be listening to Kevin Thomas to Day on the radio.
(12:17):
You catch them on Spotify and all your music sources
out there, Facebook, Meek, Kevin Thomas, Good the wood down
here in Sumrset area.
Speaker 1 (12:24):
So anyhow, we're gonna take a break. You're listening to Welcome.
Speaker 2 (12:27):
Home Show by Guardian Savings Bank. We're open today from
nine to one. Phone numbers eight five nine, eight nine
nine one nine three six and you've been listened to
us on News Radio six thirty.
Speaker 1 (12:37):
That's w LAP. We'll be right back.
Speaker 2 (12:40):
You're back listening to Welcome Home Show by Guardian Savings Bank.
Speaker 1 (12:43):
Tim Madam's Larry Frank's in here with you this Saturday morning.
Glad to have you tuned into us.
Speaker 2 (12:47):
Gonna be a lot of new people hanging out in
town today, so be on your toes UK and Texas
to night at seven o'clock Paul Coffin was in town
last night, down into a Manchester music hall and there's
a lot of people ten you said, what are hotel
rooms going on?
Speaker 1 (12:59):
Seen was high as one thousand a night.
Speaker 2 (13:01):
I guess there's a lot of interest from the Texas
faithful come in here and first time into Conwell Stadium.
Speaker 1 (13:08):
Yeah, and you got Keveland, you know, like.
Speaker 2 (13:10):
Like Kentucky, a lot of the diehard fans in Texas
may not be able to get tickets in Texas, but
they've probably bought packages. They've probably been promoting packages to
come here to watch. I'm sure they've allotted some of
the stadium capacity to Texas fans.
Speaker 1 (13:26):
Sure, yeah, they do. Everybody up to town.
Speaker 2 (13:28):
So yes, like Kentucky, you know, if you can't get
tickets at Reparena, you can go up to Indianapolis or
you know some of these games they play outside of
repp Aerna and get tickets like they did they went
to what upn Or they played up where the Philadelphia
seventy six ers played last.
Speaker 1 (13:40):
Year, And yeah, brand you get tickets. Way, We're open
today from nine to one.
Speaker 2 (13:45):
By the way, Founders eighty five nine eight nine nine
one nine three six Southland Drive eight five nine two
six three three three three five. So if you can
hear us, you can call six and three eighths on
a thirty five eight seven five on a twenty and
five six two five on a fifteen And Tim and
I've been watching the bond market. We're going to see
what's going on with that. But if you're anything above
(14:06):
six and a half percent and you want to try
and consider refinancing and having a couple of month break
on your payments and you right scenario of equity and
credit and so on and so forth, as it costs
me as little as nine forty eight and that doesn't
include setting up your s CROs or the filing fee
of eighty bucks.
Speaker 1 (14:21):
But I mean that's you.
Speaker 2 (14:22):
Know what it's truly going to cost you to put
the loan together, as far as the praise, a little
title work, all the documents and stuff that we need
processing to get your loan together. So the other things
are called prepaid, so keep that in mind. But we've
got FHA V A, U, s DA well USDA right
now you can't get anything with them because the juvenments
shut down to anything in the pipeline that wasn't already proved,
(14:42):
is kind of on standby, but you know, still not
a bad time to apply for it because they will
open back up. You get everything in line and have it.
You just have to maybe have a little longer contract
and see what happens with that. But we've got, you know,
some competitive programs here. We just want to make sure
that we share with you what they are so that
you don't know. Now, we can't do boat loans, car loans,
or note loans, but you know, real estate only ten.
(15:05):
We can do commercial real estate, we do farms, we
do bridge loans. We've got adjust for rate mortgages. We've
got lot loans, construction loans USDA, FHA VA, Community Housing USDA.
I think I was looking at the jumbo rate today, Tim,
and the jumbo rate is six and three eighth, just
like a thirty year fixed on a regular conventional mortgage.
(15:27):
Anything about ATO sixty five hundred will be considered jumbo. Now,
if you're getting a house for RATO sixty five here
at the bank, thirty year sixt grade is six point
three seven five. If you get anything above that, it's
going to be six point three seventy five. Closing costs
is gonna be different. It's a whole different underwriting deal.
But that's not too bad, So keep that in mind.
So you're talking about maybe a million dollar home, now
(15:48):
you may need a jumbo if you get up in
that price range of jumbo loan might come into play,
depending on what you're bringing to the table and what
the final loan amount is going to be. But ato
six five hundred if one family or above, it's at
one point to me.
Speaker 1 (15:59):
And you cleaned into jump ball.
Speaker 2 (16:01):
Yeah, and when we get back here a little bit,
tim we'll talk about credit again and how important that
is and how to get it, do it, and make
sure that you maintain it and utilize that. And then
once again, you know, if you're staying in, if you're
staying on the radio today, about five thirty, the pregame
will start for the Texas UK game to sevening at
seven o'clock. First time Texas has come to town. So
it's gonna be a big deal and there's a lot
(16:21):
of people planning on. I had some friends from Illinois
that are coming down just to see that. You know,
their daughters goes to school down here, and so they're
gonna come down check it out and there's gonna be
a lot of people out about Keenland going on.
Speaker 1 (16:33):
Weather's good, you know what I mean.
Speaker 2 (16:35):
It's nice fall weather rolling in on us already, and
already I should say it's the middle of the month,
but middle of October, thank you. I guess this is
about right time for it to start chilling out a
little bit in my book.
Speaker 1 (16:46):
Good change of pace for me.
Speaker 2 (16:47):
Yeah, what's the farmer's arm and act say about what
the weather's doing?
Speaker 1 (16:53):
I don't know. Just keep us in mind.
Speaker 2 (16:54):
I mean, we've got some great loan programs and we
can help you. If doesn't make sense, we can't do
it anyway, But we'll talk a little bit about credit
in the next section and go from there.
Speaker 1 (17:01):
Tim might have some picks for the track today.
Speaker 2 (17:04):
You always say four across the board on the four
and the fourth and kind of know what happens from there.
Speaker 1 (17:07):
It's pretty easy to remember. But I haven't really haven't.
Speaker 2 (17:10):
Been to Kentland yet, you know, So watch them online
and see what's going on with that. But that's about
as far as I'm able to take it at this point.
But it's fun.
Speaker 1 (17:20):
Tim.
Speaker 2 (17:20):
You've got several different strategies on how you bet you know,
you got maybe there's a horse out there like gun
Runner or Candy Ride or something. Sometimes you like the connections,
you like the trainer and the rider. Yeah, owner maybe
and and so I mean some people picked by the collars,
some people picked by the name. I had a buddy
money and the horse had a name gold in it.
They would put money on it that could have been
(17:42):
fools gold on occasion for all I noticed. But that's
why they call it Camler. But it's it's a good time.
And if you're in town for the first time that
a Kentland enjoy yourself. Be safe and it is beautiful,
and have fun, take a lot of pictures and be safe,
you know, and get around and just have a great time.
So we're gonna take another break when then we'll be
(18:04):
right back after that.
Speaker 1 (18:05):
Banks Over Day from nine to one.
Speaker 2 (18:06):
Phone Umber's eight five nine eight nine nine one nine
three six that's here twenty five forty one, Sir Barton
Way Southland Drive is eight.
Speaker 1 (18:13):
Five nine two six three three three three five. So
if you can hear she can call us.
Speaker 2 (18:17):
You are a listening to the Welcome Home Show by
Guardian Savings Bank on news Radio six.
Speaker 1 (18:21):
Old Wild cast w L eight eare right fat do
you back?
Speaker 2 (18:28):
Listen to the Welcome Home Show by Guardian Savings Bank
Allry Frank kem Adams in here with you this Saturday morning.
Banks open to day from nine to one. Phone Umber's
eighty five nine eight nine, nine one nine three six
Southland Drives eight five nine two six three three three
three five.
Speaker 1 (18:44):
So if you can hear, she can call twenty five.
Speaker 2 (18:46):
Forty one Sir Barton Way over in Hamburg five oh
one Southland Drive over on that corridor town So Jamie Mortimer,
Aaron O'Brien, Alex Malanie, Jim McKenzie working out of that
branch over there. Of course right here, we've still got
the uh same old crew here on the Sir Barton Way.
Alex Tingle, Lorie Hawkins commentaries, Rob McBride, Richard Clunch and
(19:11):
then yours truly and Tim are in here and just give.
Speaker 1 (19:14):
Us a call.
Speaker 2 (19:14):
We'll put something together and just eight five nine, eight
nine nine six. You can get online if you want to,
but please call us ask for the local representative. They
might hook up with somebody up north. They're not They're
good people and you're going to get the same deal.
But we like to do it here. So if you
can keep that in mind, just uh, we'll work with
you on now. And Tim, I want to talk a
(19:35):
little bit about credit again. I had had a couple
of conversations this week with some people that are our
age and they've got their kids and they've you know,
their credit getting them started and so on and so forth,
and uh, they have authorized.
Speaker 1 (19:51):
Users, you know.
Speaker 2 (19:52):
I with my girls, I put them on his authorized
user on account to get something in the credit girl
and then as they got older and got their own
stuff going. Obviously that was not element, never was used
or anything, but it got them in the system. And
after that point, to maximize and get the best credit
score you have, you have to have three open lines
of credit in some capacity with a history that shows
that you're managing your money well, making your payments on time.
(20:14):
You want to have a little balance on them as possible.
And so one of the kids I was working with
out of Dambo area recently, I was like, you know,
you're gonna have to get a gas card.
Speaker 1 (20:23):
You're gonna have to get something.
Speaker 2 (20:26):
You can go to the mall over there and get
a credit card, buy a wallet and then get that
account open, get your ten percent discount, pay it full,
you know, and just.
Speaker 1 (20:34):
Let it sit.
Speaker 2 (20:35):
You know, if you get a gas card or something
that you can use, you know, let the gas go
all month, put it on auto deduct and then at
the end of the month, let it pay it off
and then that'll help you. The other thing, you get
cell phone bill or something. All right, I'm gonna I've
got a little card. I'm gonna put it on this
my cell phone bill out. You're gonna pay it anyway.
You're just having that third piece of transaction, and if
you paid it a full every month, that's not cost
(20:56):
anything in the long haul anyway. But Tim, everybody, we're
all as saying that credit score is so important that
a lot of people, you know, the credit score is
helps us and it helped lets us know your borrowing
history and your payback ability and the you know, the
things that we can put together for you are based
(21:16):
on that score. And you know, what's the highest score
you've ever seen? Eight sixty Yeah, I don't know if
I've ever seen one of that idea, So you know,
and then you know it's and it changes all the
time based on the analytics that come into play and everybody.
Scores are just just based on balances, length of time
(21:36):
in the bureau, the type of credit that you have.
You know, I can't we can use it out of
necessity if needed, you know, to get to create file
for FHA or first time home by our program. We
might have to create a file for where you using
monthly payment per gas, water, electric, but those don't show
up on your credit bureau otherwise, so those aren't doing anything.
Speaker 1 (21:57):
You have to have an open line of credit.
Speaker 2 (21:58):
That's been extending to you from your credit union, your
bank or whatever, and get that going and then that'll
help maintain your you know, your credit score. At least
three open items, not too many more than that. But
you have to have something. And my oldest daughter, she
don't want nothing.
Speaker 1 (22:12):
Thinking she don't want nothing, she don't want to I said, honey,
I ain't always going to be here.
Speaker 2 (22:16):
My other daughter gets it. She got her little three things.
But you know, the b oldest ones like that. I
don't want to owe anybody anything, and I get it,
there's a lot of people out there. But if she
does need something, you know, we don't have anything to
go by. And that's what it has to you know
that's where you have to go. Well, my train of
thought there letterry is it especially for someone your daughter's age,
(22:36):
you know younger and Jim Z or whatever they are
can't keep up but now they're just regularly.
Speaker 1 (22:43):
But you know that debit cards are not helpful.
Speaker 2 (22:48):
Nope, And most debit cards I have seen here recently
where there are some online credit card companies that do
offer debit and reform, but typically your debit card at
where you have your checking account does not report. So
you're buying gas and groceries every week or every every week,
(23:09):
and there's a monthly expense there. So the train of
thought there is, get off the debt, get you a
solid you know, a Discover card or wherever you get
the best deal, and pump your gas, buy your groceries,
and pay it back every month as if you have
the money in your account. Like you want a debit
(23:29):
that reports, that gives you some grounding on your credit score.
And you know a lot of people have the misconception
ten that the cable bill and all that stuff reports
on there. It won't report on there unless you mess
it up, unless you don't turn something in or don't
pay it, and you don't want to, you know, ever
have that happen. Another thing is is, you know, if
you're getting to a point where you're going to end up.
(23:51):
You got some roommates and you guys are your leases
up and you're moving out and moving on, and somebody's
got the water in their name, somebody's got the cable
in their name or whatever. When you leave and something
in your name, you cut it off. Don't count on
somebody else to stay another week or two before they
start their job or move out or what have you
to take care of it for you, because if they don't,
it's gonna mess you up. And I've seen that time
and time and time again in my career where somebody's like, well,
(24:12):
I had to leave started my job. I left in
the middle of the month, but Bob was gonna get
the cable box turned in and do this or do that,
and he didn't do it, and then all of a
sudden it shows up on the guy's credit. I for god,
you know, I had the car and I was gonna
take it down there, or you know, last person's gonna
turn the water up. Be on your toes for that.
Try not to let that happen. You're gonna have to
look after you, and that's always the most important thing
(24:34):
to do anyway, because it's everybody else in it was
gonna look after you. But those are a couple of hents,
but just three open lines of credit. And then and
headed into the wintertime, it's not gonna be too hard
to do. You're gonna have some people when you go
into shop or Christmas shop, or you like to open
up a car, we'll give you a thirty percent discount.
And you may not have any credit at all, but
they will, they will make an exception during this time
(24:55):
of the year in some circumstances and a lot of
circumstances to let you get a credit card. If you're
down on campus and you're listening, or you got kids
on campus or whatever. Remind them be very aware of
the offer that the credit that's offered them on campus,
because a lot of people will get a credit card
not realizing the responsibilities of it tim and then all
of a sudden they've got a you know, eleven thousand
(25:17):
dollars discover card balance and they didn't taking everybody out
to dinner and eating here and eating there, and you
know they're paying a little bit of the time on it,
but it can, you know, can get out of hand
on you if you are careful. And I'll be honest
with you, I've got a little more debt now than
I've had in a long time, and I even want
to have. But with medical stuff that I had going,
I had to do a little hair and a little there,
and a little bit of traveling and some stuff. And
so I'll get a nipped here for long. But so
(25:40):
we all go through it, and we do it through
a living, you know, we do it for a living.
It's just important to you understand how the credit bureau
works and how to help you. And it's just like
I guess, just like in class tim everybody starts off
with an A until you start testing, you know, and
then credit reports the same way.
Speaker 1 (25:56):
You can start off and have it open.
Speaker 2 (25:58):
And not have any blemishes and be clean as a whistle,
and then all of a sudden, one blemish can set
you back so and not thirty day late, and you
don't want you don't want to have that. But you know,
I find that that some kids ten are.
Speaker 1 (26:11):
Are very very aware of their credit.
Speaker 2 (26:13):
They don't want to have any you know, But that
and I'm proud of that, and I'm you know, I
see people that are young to have a lot of
money saved that because of it, in my opinion. And uh,
but you've got to have some credit scores, don't you agree.
I mean you have to have it. You can't get
out and Dowty absolutely you can't buy a house without
good credit. And of course that's why you know, some
(26:34):
of the other government programs that exist like FAHA and UH.
USDA is like a six sixty and I've seen some
Lenners investors that will go down to six hundred on FAHA,
but that's you know, it's just ane. It's more flexible
to do those launch uh and that's for a reason
because everybody don't have the credit scores, but you can
(26:57):
get there. But mainly FAHA, I think designed to be
a first time buyer loan and hopefully you're moving to
another house and turning that money back in and getting
the conventional loan in five years. I think that's the
logic there, right with FHA. Use that money and then
give it back and give it to somebody else to
use and get you a conventional loan on your next purchase.
(27:19):
And if you have an FAHA loan right now, and
you've had it for a little while and you want
to get out of it and get rid of.
Speaker 1 (27:23):
That mortgage insurance.
Speaker 2 (27:25):
Even if you're at six and a half or six
six two five or something, give it. You know, if
we'ren't six and three eight, you're going to get a
lower rate and get rid of that mortgage insurance. So
we're going to save you some money on rate, then
we should be able to save you some money off
that mortgage insurance. And that mortgage insurance will never come
off that loan. So if we have to do it
now that you've been in the house a little bit,
you developed a little equity, you may still have mortgage insurance,
but once you get to a certain point, it's going
(27:46):
to fall off. But part of the mortgage insurance program
on FHA that you're paying too all the time offsets
the losses for people who because they don't have any
much money in skinning the game in their life. To
start with tim, if something goes south, and you know
what I mean, it's easy for him to walk away
from it. So that you're paying into a pile of
money to help off set losses that other people may
(28:08):
create and so it's not going to affect your you know,
whatever your payment is, it is what it is. Your
taxes and insurance can go up, but they're not going
to change, you know, what your cost is. But if
you come in here and your refinance and we can
take you from one hundred and thirty seven dollars a
month mortgage insurance with FHA to sixty seven or fifty
seven or whatever it may be, and then if you
(28:28):
stay in the house long enough, it'll come off on
its own. But faha, you're gonna have that insurance on
there the whole time. And and uh so, but that's
because of that, that's because it's such a lope down
payment program. So we got a faha loan and you
want to do something different, be glad to talk to
you about usd any of the loans that you got
in your house with. You know, we take a look
(28:49):
to if a refinance makes any sense. Tim, it's we
just got to, you know, get to give us a
call eight five nine eight nine nine nine three six
as listen to the radio show, and and I just
wanted to, you know, have some look at my information,
see what we can do and we'll have a plan,
we'll have a vision, we'll put something together or ten
years good as anybody and saying, hey, this is what
I think is gonna happen with the rate. This is
(29:09):
what I think we should do, and that's what they
can count on from any loan officer in here, in
all reality, would you say, absolutely, we're going to try
to put you in the right program at the right time.
But you know, I've got folks that are they're waiting,
they're at seven a quarter, and those are loans that
are originated in twenty twenty three, and we're we've seen
(29:34):
this improvement gradually over time since twenty twenty three to
where we are in the low sixes. And we're optimistic
that we can spur more people here in the weeks
to come with some better rates. But it's no foregone conclusion.
The Feds are pretty powerful and they can do what
they want on their.
Speaker 1 (29:54):
Terms, right, And we'll keep you at breath of that.
Speaker 2 (29:57):
I mean, we've had pim you know, we've had people
that'll refinance with us a couple of times a year
if need be. You know, if rates come down, we'll
keep you know, we'll keep an eye we'll stay in
touch with you. If we can work with you on
saving you some time and money, that's what we want
to do. And and if do it, do it interest
rate through getting rid of mortgage insurance or even if
you have mortgage insurance on a conventional loan. Now that
(30:19):
you create a little equity over the last year and
the houses are appreciating the necess area between six and
a half and eight percent, depending on where you're at
what's going on, we would be able to, you know,
maybe get you some cheaper on that too, so save
ray have a couple of months without a payment and
then maybe save some money a mortgage insurance if you
still have it. But you know, you don't ask if
you don't know, and you just got to give us
(30:40):
a shot. So we got one more part of the
show left, and we'll talk a little bit more about
what's going on around town today and visit get to
talked about more about different ways of handicapping and look
at the horses and so on and so forth. But
banks open to day from nine to one. Phone number
here on Sir Barton is eight five nine eight nine
nine one nine three six southand drives eighty five nine
two three three three three five, So if you can hear,
(31:02):
if you can call.
Speaker 1 (31:02):
Off once, you give me a living.
Speaker 2 (31:03):
You're listening to music today by Kevin Thomas, guy out
of Somerset area. Got some songs out and we appreciate
you Spotify iTunes find him on Facebook.
Speaker 1 (31:11):
But we'll be right back. You our listened Welcome Home
Show by Guardian Savings Bank on news Radio six thirty
w Lad, We'll be right back.
Speaker 2 (31:20):
You're back listening to the Welcome Home Show by Guardian
Saves Bank, Larry Franks and Tim Adams in here this
Saturday morning.
Speaker 1 (31:27):
We're glad to have you tuned into us.
Speaker 2 (31:29):
Glad to have all the visitors in town for Keenland
Texas and concert last night. So hope everybody's having a
good time. Be safe, uber around, do what you need
to do. They'll be drinking and driving. Take care of yourself,
you know, just enjoy it. We appreciate having you come
to town. Guardian Savings Bank located twenty five forty one,
Sir Bartin way right here in Lexington. Phone number again
eight five nine eight nine nine one nine three six
(31:51):
six point three seven five on a thirty year fix
five eight seven five on A twenty and five point
six two five on a fifteen, So about nine hundred
forty eight dollars in closing costs. That covers everything. But
you're escual establishment, praise, will, title work, document preparation, underwriting,
all that stuff in there, and to claim to fame
for nobody's ever heard the road, the show Today or
(32:11):
anything here about Guardian Savings Bank. We service our loans.
We have about three and a half being in servicing
pinky something like that, so the payback's truly in the payback.
We're not gonna kill you in closing costs. We're gonna
follow them Fanny may or Freddie mac underwriting guidelines. But
you know we we we're just gonna service your loan,
so you'll wind up paying us in the long haul.
(32:32):
On the government loans, the f h a v A
and those types of things, we're not paying. You know
that those we don't service, so you're gonna wind up
paying somebody else eventually, and they'll both those up and
sell them. But closing costs are different on those as well.
But we do do a good job of them. We
do do a.
Speaker 1 (32:46):
Lot of them.
Speaker 2 (32:47):
We've got some fantastic programs out here, all right. So
back to the horse racing stuff. Some tend Some of
the stuff that I kind of look at on occasion
is if I'm looking at a horse and I got
you know, I'm looking and seeing, first off, the way
horse races. Once a horse wins a race, that's that's
a notch in his belt. He's he's knocked that off
his bucket list. He can't go back and win the
same race twice. As far as the race set up.
Speaker 1 (33:10):
You got to step up his game. Yeah, you got
it right. You can go up pretty competent, so you
got to.
Speaker 2 (33:15):
So, you know, sometimes I look at that if somebody's
coming down in class, you know, over the last they
were in for one hundred and twenty five thousand, now
they're running for seventy five or sixty, or if they're
going from sixty to one to twenty five, then you
want to look at the quality of horses they ran against,
some of their speeds and workouts and so on and
so forth. I like to look and see if something's
going turf to dirt or vice versa. And I think
(33:36):
that sometimes, you know, these people get out here and
the horses run four or five times they're trying to
find out where it's fitting, and so they might try
it on the turf a couple of times and then
it may or may not do okay, and then they
bring it back to dirt.
Speaker 1 (33:47):
You know what I mean.
Speaker 2 (33:48):
That's kind of an angle that I like to look at.
I look to look and see, you know, if there's
jockeys in town and how many rides they've got each day.
Sometimes you'll see, like Mike Smith or some of these
jockeys come in tim and they all in there for
one race, you know what I mean. There might be
ten races all day long, but they only riding one horse.
So I kind of look at that angle to si
if it's the deal. And then owners and trainers, I mean,
(34:10):
those guys know where they want to place their horses.
Speaker 1 (34:13):
You know, they're the all all in the house.
Speaker 2 (34:16):
Sometimes that's a giveaway, but you don't have to get
to in depth of just have some fun.
Speaker 1 (34:20):
And you know, one of.
Speaker 2 (34:21):
The things we've done before is just everybody put in
ten or twenty bucks and everybody decide on what horse
we're going to do. Just put it to show, and
you know, once it comes in and take the money
half of it, do it again. If you run out
of money, re up. But everybody get six, seven people
or how many people's in your group. Everybody put in
ten bucks and you put you know, half of it
to show on the whatever horse. And if it comes
(34:45):
in and you take that money, add it to your pile,
spend half of it, and then hopefully by the end
of the day everybody walks out of there with some
with some cash and you don't have to re up
at any time. But we've done that at time or
two and come out with a pocket full of money.
We've re up to time or two and wound up losing.
But if you're you know, just a few different ideas.
I had somebody one time they would bet on which
(35:05):
horse would come back across the finish line first after
the race.
Speaker 1 (35:08):
Yeah, you know.
Speaker 2 (35:10):
So it's just there's all kinds of different things to
have fun with it, and it's gonna be crowded.
Speaker 1 (35:14):
It's a lot of great people out there in a
big day.
Speaker 2 (35:17):
So well, I can't ever think of a better weather
for a meat than we've had. And the only day
at rain was a day that the track was dark
and we needed the rain, and we probably still need
more rain, but man, we got a day lose there.
I think that helped the condition of the track. And
they just hit the jackpot with weather this.
Speaker 1 (35:36):
Year, yep, and we were due for it. So we
hope you have a good time with it.
Speaker 2 (35:40):
We're having fun and we'll pick them out a little
bit on twin spires or fan duel or whatever. You
get on too, but like to look through them and
see what's going on and see what we can get
out of it. But it's really just fun and I
had a good time to get into it. So you
don't have to bet a whole lot. Two dollars across
the board cost you six bucks. I think you can
put a dollar across the board if you want to.
Some people play their birthday, you know, just whatever I
(36:04):
mean after nine to eleven. I played exact the box
one two three every race for a long time and
want a lot of money just doing that, you know,
so you know this exact is where you you know,
the courses have to come in first and second and
do an exact box. You can do one, two, three,
and any of those come in and whatever order three
one two, two, one three whatever whatever. The first two
horses are are your winners. So it's a it's fun
(36:26):
and it's a it's a good time. And there's been
times I just felt like I should just send them
a check ten because I couldn't pick a winner. I
couldn't pick my mom out of a police line up
to to be correct on anything. And then sometimes you know,
if you get on a roll and pay attention, have
time to handicap, you can win some money but enjoy.
Speaker 1 (36:41):
Your time in Lexington.
Speaker 2 (36:43):
You've been listening to the Welcome Home Show today by
Guardian Savings Bank and we've been around here for a
long time. We like to decide be local, by a
local and stay local. That's what you get here Guardian
Savings Bank. We service loans. You can come in here
and make a payment, do what you want to do.
We're six and three eighths on a thirty year fix
five eight seven five on a twenty five six two
five on a fifteen two ninety nine Closing costs special
just saw an ad for that tim so the instead
(37:05):
of nine fortyges two ninety nine and nine cover everything
you need and you can have a couple of months
without having a payment headed into the Christmas time season.
Speaker 1 (37:13):
If you need a little extra Mama, don't know money
for the track for the cover. I'm just teasing, but
have a great time. Enjoy Lexington.
Speaker 2 (37:23):
You got the pre game of five point thirty Riding
here on six thirty WLAP Texas and UK live at
seven pm.
Speaker 1 (37:29):
Banks open against nine to one for them is eight
five nine eight ninety nine one nine three six.
Speaker 2 (37:34):
If you can hear what you can call it you
been listened to Welcome Home Show by Guardian Savers Bank
on News Radio
Speaker 1 (37:38):
Tex thirty w LAP AM Golt Cats
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