Today to get a good job these days, more and more employers are pulling credit reports to look at their candidates Credit Profile.

A person, especially in today’s economy, could have a bad credit report for a number of reasons, being laid off, medical issues, or for many other reasons and now they can’t even get a job. The statistics that were shown in the newspaper referenced a survey that was done by the Society for Human Resources. They found that in 2009, 60 percent of the employers ran credit checks which are up from 42 percent in comparison to 2006.

What would you do if you had bad credit and at the same time no one wanted to hire you because of your bad credit?

Duration : 0:3:41

Part 7 – We have Dan Havey the author of Real Estates Future in the studio today.

Michael, I was just curious, back when I got into the industry many, many years ago there used to be a rule of thumb that if you were going to refinance you had to lower your interest rate by at least two percent and I know as time went along and products changed that really became unnecessary, but I am just curious in todays mortgage market its a lot different than we were dealing with even two years ago. Is that still true that there is a 2% rule? Whats going on now?

I happened to catch Suze Orman on television and she was talking about Mortgages, the caller who called in to the program, the question became I believe similar to what Dan just asked, her comment was that basically if you’re in 6% interest rate or above now is the time to re-fi. That is what she said, a blanket recommendation. I know a lot of people put a lot of credence into what she says, maybe you could speak to that, the lowest interest rates you’ve seen in your career, you have been doing this for a while.

I have, and they are. You know there was a lot of speak the last couple weeks about the Fed, the Fed funds rate by the way is the lowest it’s ever been in history. As of this week the discount rate is to the point that banks are lending money to each other at nothing, the Fed funds rate for intrabank lending is at zero, the problem is the banks don’t have any money.

To be serious about the refinancing, because its a serious topic, I think people are starting to see their mail boxes filled with lots of advertising crap about refinance. I believe that doing the refinance is no different from doing a loan modification or buying a house, you need to sit down with the human being that’s local, that you can know is a legitimate source. You’re going to give all this personal information about you, your family, your kids, your Social Security number, you want to make sure you have somebody there that you know whos legit.

In regard to the old rule of thumb 2%, nothing could be further from the truth, and I will expand, but to the point of Ms Ormond that if youre at 6% or higher, that is a blanket statement and blanket statements never work. We just did a refinance for a guy who was at 5 1/2%, and it makes sense. Every situation is different, as far as how much do I have to lower my interest rate to make it work? It depends on the type of mortgage that you get.

The only type of loan to get today in December of 2008 is a 30 year fixed. I know that one of the things that was really interesting to me, and that you and I have referred clients to one another for several years, so we share a number of clients, were familiar with those families and those households, and this is Wednesday, on Monday and Tuesday of this week I’ve had seven phone calls from clients who you’ve already done loans for, refinances for, asking if this is the time to refinance a loan that is only a couple years old.

And I know in several of those cases the answer is yes you’re actually helping families right now with that process. I am and we do. To answer the question, you need to determine what the payback term is, in other words when your refinance is done it’s a new loan, there’s the title insurance, appraisals, lots of different things may need to be done, not in every case, but in most cases there are costs associated with that. The cost has to be offset by the amount of savings. Its a breakeven analysis

Absolutely it is, the shorter the breakeven the better the Loan. I am working on a case right now which is going to be done in the next couple of days where the guy lowered his interest rate by an1/8 of a percent and it made sense for him. It’s not for everybody, 2 percent or lower, 2% is significant, now you’re talking about really significant savings in terms of cash flow… http://realestatemarketingthisweek.com

Duration : 0:6:31

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- Fandom: DQMW/LHOTP
- Program: Sony Vegas Pro 8

- Description:
I’ve been working on this video for quite some time now; started in June 2009, but even before June, I collected, while watching Little House on the Prairie for the first time, material, scenes/audio from the series, that I thought would fit with this video, bringing the Ingalls to Colorado Springs. I think the result turned out rather well, but sorry for the poor quality in some parts.

- Story/Spoiler:
The family Ingalls, consisting of Charles, his wife Caroline and his three daughters Mary the oldest, Laura, and little Carrie, decide to travel to the town of Colorado Springs and perhaps, if the town is to their liking, settle down.
When the Ingalls reach the new town, they are warmly greeted by the local townspeople. Charles is slightly surprised, when Dr. Quinn introduces herself, since he has not really heard of a lady doctor before and definitely never met one, but he has nothing against it and just repeats her name out of astonishment.
While Laura Ingalls befriends Brian Cooper, Charles and Caroline receive a loan offer from the banker Preston Lodge, which they accept.
Having decided to stay in Colorado Springs, the Ingalls explore town and Mary and Laura attend school.
After a certain time in Colorado Springs, Charles and his family decides to move on, and they peacefully leave town.

- Audio dialog in the video:
Charles: Everybody all set back there?
Laura: Yeah!
Charles: Here we come!
Laura: Ready or not…
*Charles giggles*

Local man: Welcome to Colorado Springs!
Charles: Thank you!
Michaela: Morning….I’d like to welcome you to our town.
Charles: Name’s Ingalls. This is my wife Caroline…
Caroline: How do you do.
Charles: And my daughters, Mary, Laura and Carrie.
Michaela: I’m Dr. Quinn.
Charles: Dr. Quinn….
Loren: Now if you should find need of any of life’s little necessities, you just don’t hesitate, come over and see me, at the general store.
Caroline: Oh we have no cash….
Preston: Leave that to me, I’ll draw up a loan in no time.
Charles: Thank you!
Caroline: Oh wonderful!
***
Caroline: Boston…
Preston: That’s right…
***
Brian: I’m Brian.
Laura: I’m Laura Ingalls.
Brian: You’ll like it here…
***
Charles: Thank you very much, it’s a real pleasure to be here.
***

Preston: Good afternoon.

***

Grace: Got everything you need?
Charles: It’s fine, thank you.

***

Dorothy: Afternoon…
Charles: Never thought I’d see a day a woman would be running a newspaper..
Dorothy: oh…
Charles: Good for the town.

- Notes: I know the part with Preston being so quickly willing to give the Ingalls a Loan and them being overly happy to accept, isn’t really keeping them in character, but it was an idea that gave me an opportunity to create the other scene just before it (with the Loren/Caroline speech), and with the audio parts, it worked really well.
And at the end it’s so funny, Preston is smiling, waving good bye to the family as they depart, but what about the loan? Well, we can always assume the Ingalls stayed for a longer time in Colorado Springs (a year maybe), so Charles was able to pay off the loan, and of course, Caroline earned some money, selling eggs to Loren, lol.
Oh and another funny thing, in my video, Laura talks to Brian, but in reality, it would be more fitting if she talked to Preston, since the two of them are the same age *giggle* and that makes me think of a ship between them…. I could use footage of Melissa Gilbert in more recent films, while still using footage of Caroline and Charles, for her parents…well, that could maybe be an idea for a future project, … we’ll see.

Duration : 0:3:5

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Duration : 0:1:40

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