WEBVTT 1 00:00:00.800 --> 00:00:13.839 Yea ripped of news. You need advice, so you don't have come running. 2 00:00:14.080 --> 00:00:21.120 Just as fast as we can, Shooter's gonna help come Dix is the 3 00:00:21.320 --> 00:00:27.399 Troubleshooter Show. No Tom Martino, Hi, Tom Martino here, Welcome to 4 00:00:27.480 --> 00:00:32.640 the show. Three oh three seven one three Talk three o three seven one 5 00:00:32.679 --> 00:00:39.200 three eight two five five. Ready to take your calls, questions, complaints, 6 00:00:39.280 --> 00:00:45.799 problems, whatever you have on your mind. And hello everyone. Mike 7 00:00:45.920 --> 00:00:50.200 see I got a good crewd on my YouTube moron starting and uh, Facebook 8 00:00:50.200 --> 00:00:55.359 flunkies, but YouTube morans are far outnumbered. And then I mean the Facebook 9 00:00:55.359 --> 00:01:00.119 flunkies are far far out numbered by YouTube warrants. We're we're basically getting together 10 00:01:00.200 --> 00:01:07.719 every day and try to warn you of problems and questions. I answer questions 11 00:01:07.760 --> 00:01:11.959 and take complaints and really, as I say, to make your life a 12 00:01:11.000 --> 00:01:15.599 little easier. And that's really what we do each and every day, and 13 00:01:15.640 --> 00:01:17.840 we love doing it. So all you have to do is call, and 14 00:01:17.879 --> 00:01:21.000 when we're on the air, you can call three oh three, uh six, 15 00:01:21.319 --> 00:01:25.159 three oh three seven to one three talk three oh three seven one three 16 00:01:25.760 --> 00:01:30.879 eight two five five, or of course you can always call twenty four to 17 00:01:30.879 --> 00:01:34.680 seven three oh three Martino. Now when you call that, whether we're here 18 00:01:34.760 --> 00:01:40.400 or not, you can leave a message and we will get back to you 19 00:01:40.799 --> 00:01:47.799 three oh three six two seven eight four six six. So what I'd like 20 00:01:47.879 --> 00:01:51.040 to do is start out by telling you we have some guests day. We're 21 00:01:51.040 --> 00:01:56.079 going to talk a little finance here and there. And you know, finance, 22 00:01:56.159 --> 00:02:00.560 to me is really important. I think the crux of everyone's success is 23 00:02:00.599 --> 00:02:04.560 how they handle their money. Now I'm not just talking about investments. I'm 24 00:02:04.560 --> 00:02:08.159 just talking about handling their money. I think there are two problems that I 25 00:02:08.280 --> 00:02:13.199 find with young people that start their trouble. And if you're a parent, 26 00:02:13.400 --> 00:02:17.639 grandparent, if you're younger, if you're having kids, if you yourself are 27 00:02:17.680 --> 00:02:23.280 just starting out. I'm going to tell you the two main areas. The 28 00:02:23.400 --> 00:02:31.960 two first areas that cause trouble for people. The two first and foremost credit 29 00:02:32.000 --> 00:02:38.879 cards. Now I'm not the type that says never use credit cards. They're 30 00:02:38.919 --> 00:02:44.759 all bad. They're not bad, they're tools. Credit cards should never be 31 00:02:44.919 --> 00:02:52.560 used as extra income. Ever. I know that sounds so obvious, but 32 00:02:52.639 --> 00:02:59.199 you be shocked at how many people use a credit card to buy things they 33 00:02:59.240 --> 00:03:08.319 can't afford, and then they calculate they calculate the monthly payment, and what 34 00:03:08.400 --> 00:03:13.039 they start thinking is, well, I can make that payment. What they 35 00:03:13.080 --> 00:03:15.960 don't understand is a minimum payment, We'll have you in debt for twenty years. 36 00:03:17.240 --> 00:03:23.120 It's ridiculous and you you know, and it's snowballs. So you should 37 00:03:23.199 --> 00:03:28.560 never buy something with the idea of calculating a payment and yeah, I can 38 00:03:28.599 --> 00:03:34.759 make that monthly payment. Eventually, what happens is those monthly payments become exorbitant. 39 00:03:34.960 --> 00:03:38.680 But even if they're not exorbitant, you're overpaying for everything you buy. 40 00:03:39.960 --> 00:03:46.599 So credit cards are the number one killer because they extend credit to everyone in 41 00:03:46.639 --> 00:03:51.759 the beginning. So if you get a credit card, you can end up 42 00:03:51.800 --> 00:03:57.520 in very big trouble. And I knew a young woman who had six credit 43 00:03:57.560 --> 00:04:01.479 cards and she would buy whatever or she wanted. She wasn't making enough money 44 00:04:01.520 --> 00:04:05.680 to buy that stuff outright, so she would buy it make minimum payments. 45 00:04:06.199 --> 00:04:12.080 She was buried, headed for bankruptcy. That can get you in trouble. 46 00:04:12.960 --> 00:04:15.000 But what's really bad, Well, first of all, then people ask when 47 00:04:15.040 --> 00:04:20.000 do you use credit? Credit is meant as a convenience to buy something, 48 00:04:20.680 --> 00:04:26.480 and then you can It's first it was for emergencies. I mean the wise 49 00:04:26.560 --> 00:04:30.560 person would use it for emergencies. I mean, obviously, something goes wrong 50 00:04:30.879 --> 00:04:33.279 and you can't wait to get it fixed, like your car to get to 51 00:04:33.360 --> 00:04:39.040 work, or maybe something around your house, so you use a credit card 52 00:04:39.079 --> 00:04:43.839 to pay it and then make payments on that. But you should attempt to 53 00:04:43.920 --> 00:04:48.839 pay off anything on your credit card monthly is ideal. If you can't then 54 00:04:49.199 --> 00:04:55.680 in three months, and at the extreme six months. You should never make 55 00:04:55.920 --> 00:05:00.360 a purchase you cannot pay off in six months, and then you did not 56 00:05:00.519 --> 00:05:05.000 have any more than two outstanding for six months. You can have you can 57 00:05:05.079 --> 00:05:09.279 have one that pays off in three months and one that pays off in six 58 00:05:09.319 --> 00:05:13.160 months, but you have to calculate. Never make minimum payments. But credit 59 00:05:13.199 --> 00:05:18.240 card debts snowballs, and people take vacations and buy things that they should not 60 00:05:18.480 --> 00:05:24.680 be doing because they don't have the income. But they start thinking the credit 61 00:05:24.759 --> 00:05:30.480 card is like income, and then they make those feeble payments and it's snowballs. 62 00:05:30.639 --> 00:05:35.639 That's number one credit cards. Okay, So credit is for convenience number 63 00:05:35.759 --> 00:05:41.240 well, first for emergencies obviously, and then yes, convenience. If you 64 00:05:41.399 --> 00:05:44.680 really want something, you want to reward yourself, but you've got to be 65 00:05:44.759 --> 00:05:47.639 able to pay it off in one to three and at the very outside six 66 00:05:47.680 --> 00:05:51.519 months. Okay, and you can't have too many things you're paying off in 67 00:05:51.600 --> 00:05:57.120 six months. I'm talking about you don't keep charging now. I know. 68 00:05:57.360 --> 00:06:00.759 I'm going to tell you something that that that that is a hard concept. 69 00:06:00.759 --> 00:06:13.720 Today, we truly have We have a notion that everyone should have everything they 70 00:06:13.759 --> 00:06:16.920 desire. We really do. We don't say it, but we really believe 71 00:06:16.959 --> 00:06:25.199 that. In fact, there are lawmakers that attempt to control outcomes of things 72 00:06:25.399 --> 00:06:33.639 so people can have everything. And immediate gratification is another concept that has become 73 00:06:34.079 --> 00:06:43.319 common. Everyone wants things now. And what we need was that Joe is 74 00:06:43.439 --> 00:06:46.399 joining us via phone. Good, I got you. I was going to 75 00:06:46.480 --> 00:06:50.560 introduce him. Thank you, thank you, thank you. So people want 76 00:06:50.639 --> 00:06:59.560 stuff now, and what they do is they don't look to the future. 77 00:07:00.120 --> 00:07:03.839 Get it in the future. And that's another concept that gets people in trouble. 78 00:07:03.879 --> 00:07:08.319 Okay, So that's credit. That's credit and the use of credit. 79 00:07:08.800 --> 00:07:15.360 In fact, the second thing negative equity in cars. I swear to God, 80 00:07:15.399 --> 00:07:19.680 if you're listening to me, you can save your kids, save yourself, 81 00:07:20.040 --> 00:07:26.720 save everyone trouble. Those two things kill people. When I talk about 82 00:07:26.759 --> 00:07:29.319 negative equity, and I'm not going to get into it right this second, 83 00:07:29.360 --> 00:07:33.240 but I want to ask Joe Kanno, who's a certified financial planner. He 84 00:07:33.279 --> 00:07:38.399 gives when he does seminars and stuff. He talks about one of the main 85 00:07:38.519 --> 00:07:43.959 problems people have is keeping money out of the dollar they earn. And he 86 00:07:44.000 --> 00:07:46.480 will hold up a dollar and say, this much is for taxes right off 87 00:07:46.480 --> 00:07:51.519 the bat, and then this much you pay to others just to finance things, 88 00:07:53.199 --> 00:07:56.519 and then this much. He goes through it. Joe, let's go 89 00:07:56.600 --> 00:08:01.120 through the dollar scenario. Okay, how much of that dollar? Now, 90 00:08:01.160 --> 00:08:07.279 that dollar up to a third of it goes to taxes right now, right, 91 00:08:07.639 --> 00:08:11.560 and two thirds goes to finance charges. Now now, hold on, 92 00:08:11.639 --> 00:08:16.720 just think so finance charges. So you're saying out of a dollar, are 93 00:08:16.759 --> 00:08:22.040 you truly meaning people can spend sixty percent of their paycheck. Yes, the 94 00:08:22.120 --> 00:08:28.920 average American spends one third on taxes two thirds in finance charges. Well, 95 00:08:28.920 --> 00:08:33.159 then that leaves nothing, Joe, that doesn't make sense. So that leaves 96 00:08:33.720 --> 00:08:37.799 that leaves one third of a dollar. Well, hold on, you just 97 00:08:37.840 --> 00:08:43.799 said one third on taxes, yeah, right, and two thirds on financing. 98 00:08:45.039 --> 00:08:50.519 That's three thirds right, that's all of it, right, It's about 99 00:08:52.320 --> 00:08:56.879 they have about a third left to spend then. So basically, you know, 100 00:08:56.919 --> 00:09:01.200 if you take a dollar bill, if don dollar bill goes to pay 101 00:09:01.279 --> 00:09:07.120 for finance charges, another portion goes to pay for taxes, and they have 102 00:09:07.399 --> 00:09:13.080 a very little amount left for themselves, right, Okay, so whatever, 103 00:09:13.159 --> 00:09:18.559 the percentage doesn't matter, but very little. And the finance part of it, 104 00:09:20.159 --> 00:09:24.200 the finance charge part of it, starts at a very young age. 105 00:09:26.200 --> 00:09:30.480 They do, you know a lot of you know in fact that children, 106 00:09:30.840 --> 00:09:35.600 you know, teenagers are getting credit card offers from banks and credit card companies 107 00:09:37.240 --> 00:09:41.559 at the age of sixteen or seventeen. I used to give them for Jordan 108 00:09:41.600 --> 00:09:48.440 in my milks. So they start on that finance problem right away where they 109 00:09:48.480 --> 00:09:56.679 are paying others to finance things. Now for short term convenience or emergency emergencies. 110 00:09:56.720 --> 00:10:00.759 There's nothing wrong with that at all. What really he gets to be 111 00:10:00.919 --> 00:10:09.360 the problem is when you have several things washers, dryers, or when you're 112 00:10:09.399 --> 00:10:15.519 younger, whatever, vacations, clothing, purses, jewelry, This gets to 113 00:10:15.559 --> 00:10:20.320 be a big problem and it will totally devastate you. Hold on a second, 114 00:10:20.519 --> 00:10:24.080 we have a call coming up. We have Joe, we have your 115 00:10:24.120 --> 00:10:28.840 calls. But listen, people, I'm serious. Do you realize we don't 116 00:10:28.919 --> 00:10:35.039 have a problem with what people are earning. Oh, there's definitely a disparity 117 00:10:35.360 --> 00:10:41.799 between the highest wagers and the lowest. Yes, there is disparity. Is 118 00:10:43.559 --> 00:10:50.879 the nature of the economy. Nothing will ever be equal, ever ever. 119 00:10:52.559 --> 00:10:58.200 Okay, that doesn't mean it's hateful, That doesn't mean it's racist. It's 120 00:10:58.840 --> 00:11:05.159 different. What you contribute is different than what someone else contributes, and society 121 00:11:05.200 --> 00:11:13.879 puts a value on it. There's nothing wrong within equality when it comes to 122 00:11:13.320 --> 00:11:18.000 who makes what for what. They're not all the same, they're not all 123 00:11:18.039 --> 00:11:24.000 equivalent. That's not necessarily bad. People go to the level they can do. 124 00:11:24.480 --> 00:11:28.799 Now, if all you can do is if all you can do, 125 00:11:28.879 --> 00:11:33.480 let's say, is the fast food industry, if that truly is the maximum 126 00:11:33.799 --> 00:11:41.519 you can do and you don't have the capacity to do anything else, that 127 00:11:41.600 --> 00:11:48.799 doesn't mean that you must elevate that job to something that has way more cultural 128 00:11:48.840 --> 00:11:56.360 impact and make it equal. You can't. And that's what we have to 129 00:11:56.399 --> 00:12:03.679 get. We got to get used to the concept that one equality in respect 130 00:12:03.159 --> 00:12:11.440 and the way the laws applied and opportunity should be equal, but outcomes will 131 00:12:11.639 --> 00:12:18.080 never be equal. Your station in life will be what you do with it. 132 00:12:18.080 --> 00:12:22.840 It will never be equal to all. Ever, what we can't do 133 00:12:22.919 --> 00:12:28.320 is try to spend our way out of it with credit cards or try to 134 00:12:28.960 --> 00:12:33.279 we just ruin ourselves. So let's talk about really and truly building wealth, 135 00:12:33.840 --> 00:12:37.720 not BS wealth. And then the net wants to talk about a home warranty, 136 00:12:39.639 --> 00:12:41.600 and I'm going to give her more time, so I'm going to take 137 00:12:41.639 --> 00:12:46.840 this break. And when we're on the topic of products, waterpros dot net 138 00:12:48.360 --> 00:12:52.879 Paul the waterman. He said, I want to make a product, and 139 00:12:52.919 --> 00:12:56.600 not make a product, but import a product here, and I mean import 140 00:12:56.600 --> 00:13:00.799 from the factories. They're American made. I want to bring in products that 141 00:13:00.879 --> 00:13:05.039 are of value that I don't have to charge fifteen grand like other plumbers. 142 00:13:05.440 --> 00:13:09.960 We're gonna do it at a bargain. So his water units for pure, 143 00:13:11.039 --> 00:13:16.720 wonderful drinking water, soft water, a conditioned water, all are under well. 144 00:13:16.759 --> 00:13:18.240 You can get them as much as you want, depending on what you 145 00:13:18.279 --> 00:13:22.159 do, but you can start out for all the drinking water you want for 146 00:13:22.200 --> 00:13:28.720 around fourteen hundred bucks fully installed. It's an amazing company. Waterpros dot Net 147 00:13:28.320 --> 00:13:31.840 three oh three eight six two five five five four. 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Hi Tom Martino, your troubleshooter. 156 00:14:18.919 --> 00:14:24.480 Three O three seven one three talks seven one three A two five five Welcome 157 00:14:24.600 --> 00:14:30.399 to the show. If you're looking for Solarprobdenergy dot com. They can do 158 00:14:30.440 --> 00:14:35.440 it all commercial, residential, and they're great at sales and installation and service. 159 00:14:35.519 --> 00:14:37.519 You know, there are only a few people I believe in for solar. 160 00:14:37.879 --> 00:14:41.759 The rest are clowns. I'm serious. Probdenergy dot Com can take care 161 00:14:41.799 --> 00:14:46.720 of you. Let's go to the net. The nete welcome to the show. 162 00:14:46.720 --> 00:14:48.759 What's going on with you? And welcome to anyone else who wants to 163 00:14:48.840 --> 00:14:52.399 call three O three seven one three talk seven one three eight two five five 164 00:14:52.679 --> 00:14:58.799 what's going on in net? Interested in your opinion about home warran Chy. 165 00:15:00.600 --> 00:15:05.279 These companies are plentiful out there now. And I am I am currently with 166 00:15:07.399 --> 00:15:13.240 and have been with since the eighties of having a maintenance plan on my appliances 167 00:15:13.320 --> 00:15:20.639 and many things in the house. And things have changed and the company is 168 00:15:20.720 --> 00:15:24.679 kind of modeling themselves after all of these newer companies that have cropped up where 169 00:15:24.720 --> 00:15:28.120 you pay a deductible for each visit and so on and so on. So 170 00:15:28.200 --> 00:15:33.600 I was looking into another company, and I was looking at Choice home Warranty 171 00:15:35.080 --> 00:15:39.759 and wondered if you knew anything about that company, and if not, if 172 00:15:39.799 --> 00:15:46.320 you might be able to look into that company and how they perform. May 173 00:15:46.360 --> 00:15:56.200 I ask something, why do you have a warranty? Good question? Well, 174 00:15:56.240 --> 00:16:00.440 because it has. It has over the years served me well. It 175 00:16:00.519 --> 00:16:03.600 takes care of many many things. I mean the current plan that I have, 176 00:16:03.799 --> 00:16:08.080 I could have up to forty items on this plan and there was no 177 00:16:08.799 --> 00:16:12.679 charge for any visit, no matter how many times they came out throughout the 178 00:16:12.799 --> 00:16:18.360 year. If they couldn't fix it, they replaced it. Okay, here's 179 00:16:18.360 --> 00:16:21.440 what I've now. Now, what kind do you have right now that does 180 00:16:21.519 --> 00:16:27.519 that? It's with serious okay and serious changing. I mean they're changing. 181 00:16:27.600 --> 00:16:30.679 Yeah. No, no, you're never going to get a plan like that. 182 00:16:30.919 --> 00:16:33.200 Now, here's what I truly want to ask. What were you paying 183 00:16:33.240 --> 00:16:37.080 by the month? I don't know by the month, by the year. 184 00:16:37.240 --> 00:16:41.600 It had risen over the years, because, like I said, we've had 185 00:16:41.600 --> 00:16:45.679 this. If you had to put in if you had to imagine in an 186 00:16:45.679 --> 00:16:48.919 imaginary bucket, put every dime that you paid for that warranty in that bucket 187 00:16:49.399 --> 00:16:52.559 and then put every dime that you got out of it, would you be 188 00:16:52.639 --> 00:17:00.279 ahead? You know, I never really took pen and pape. No one 189 00:17:00.279 --> 00:17:03.759 does, because you would not be ahead. I'm just gonna tell you you 190 00:17:03.960 --> 00:17:07.200 just won't be. But but but hold on. What you're doing, though, 191 00:17:07.680 --> 00:17:11.519 is you're doing what's called and and by the way, we're assuming they're 192 00:17:11.519 --> 00:17:17.519 going to take care of things. So by a let's just assume they're gonna 193 00:17:17.559 --> 00:17:19.200 take care of everything that they should take care of. They don't, but 194 00:17:19.279 --> 00:17:23.400 let's assume they do. You will still, here's what you're doing. You 195 00:17:23.640 --> 00:17:30.160 are getting a level monthly payment for peace right rather than trying to dish out 196 00:17:30.160 --> 00:17:34.960 two grand at once. Okay, here's the problem. You asked me what 197 00:17:36.039 --> 00:17:41.640 I think of warranties. If truly warranties were warranties, I would like them. 198 00:17:41.160 --> 00:17:45.640 If they would say to you, all right, Nnette, we're gonna 199 00:17:45.640 --> 00:17:48.759 come over and inspect your home, and you're gonna pay for what we're gonna 200 00:17:48.799 --> 00:17:52.359 cover. Okay. So what they do is say, okay, we're gonna 201 00:17:52.359 --> 00:17:57.359 cover this, this, this, this, and this, and they inspected 202 00:17:57.359 --> 00:18:02.039 it and they cover it. Peer I would love it, but they don't 203 00:18:02.039 --> 00:18:06.039 do that. Here's what they say, how many systems do you have? 204 00:18:06.119 --> 00:18:08.119 What do you have? What do you have? And then they tell you 205 00:18:08.119 --> 00:18:14.759 you mentioned forty items. So let's just take realistically twenty five items. Let's 206 00:18:14.759 --> 00:18:18.079 say in your home you have a washer, dryer, water here. Okay, 207 00:18:18.240 --> 00:18:21.400 say they say the Nette, we're going to cover you for twenty five 208 00:18:21.440 --> 00:18:26.160 items, and those twenty five items are going to cost you a certain amount 209 00:18:26.160 --> 00:18:30.440 of month. Okay, So for twenty five items, let's say you're paying 210 00:18:30.599 --> 00:18:33.720 and I'm going to give ridiculous numbers that aren't real. But just just to 211 00:18:33.720 --> 00:18:37.319 give an example, you're going to pay twenty five dollars a month for twenty 212 00:18:37.400 --> 00:18:42.759 five items, okay, and you're going to be covered now. You pay 213 00:18:42.799 --> 00:18:48.680 that, let's say for two years, and when you have a dishwasher problem. 214 00:18:48.680 --> 00:18:52.119 By the way, I'm giving you all honest to god true scenarios that 215 00:18:52.160 --> 00:18:56.240 have happened. So in two years, your dishwasher, you have a problem 216 00:18:56.240 --> 00:19:00.720 with it, and they go out and say the nette, we're not covering 217 00:19:00.759 --> 00:19:06.759 that. That was a pre existing condition. And you say what you say, 218 00:19:06.839 --> 00:19:10.599 yeah, that thing must have been like that two years ago because it 219 00:19:10.680 --> 00:19:14.759 was too long. They call it a pre existing condition. And your dishwasher, 220 00:19:14.839 --> 00:19:15.839 let's say, is ten years old. Of course, there's a lot 221 00:19:15.880 --> 00:19:22.480 of pre existing conditions. So they say, we're not covering it. Now 222 00:19:22.519 --> 00:19:26.759 do they go back in time and say, but you've been paying twenty five 223 00:19:26.799 --> 00:19:30.720 dollars for twenty five items, which really, since it was pre existing, 224 00:19:30.880 --> 00:19:34.680 we were never covering that to begin with. Therefore, we're going to rebate 225 00:19:34.720 --> 00:19:37.720 to you what you were paying on this dishwasher. No they don't, no, 226 00:19:37.720 --> 00:19:41.319 no, no, they don't. In fact, they keep charging you 227 00:19:41.359 --> 00:19:45.720 twenty five dollars. And let's see, another year goes by and another problem 228 00:19:45.759 --> 00:19:48.519 happens and they say, oh, we're not going to cover that because it's 229 00:19:49.000 --> 00:19:53.799 normal wear and tear. And you go, oh, now do they go 230 00:19:53.880 --> 00:19:56.960 back and adjust your premium? No? No, no they don't. And 231 00:19:57.119 --> 00:20:02.480 I'm going to tell you there are things they will not cover pre existing conditions, 232 00:20:03.119 --> 00:20:07.680 which how the hell do you know? Normal wear and tear and customer 233 00:20:07.720 --> 00:20:11.319 abuse and lack of maintenance. Now, I want you to think of those 234 00:20:11.359 --> 00:20:18.240 things, because almost everything that goes wrong will be previous. It'll be normal 235 00:20:18.279 --> 00:20:22.440 wear and tear, it'll be owner abuse, or it will be lack of 236 00:20:22.440 --> 00:20:27.720 maintance, almost everything. So what are they covering? Manufacturing defects? Now? 237 00:20:27.880 --> 00:20:33.359 I want to tell you something. How often do you have manufacturing defects? 238 00:20:33.000 --> 00:20:37.319 Now? Here's the deal. Here's what I really or catastrophic failure. 239 00:20:37.480 --> 00:20:41.039 Okay, they'll cover that. Now do they pay off? Of course they 240 00:20:41.079 --> 00:20:45.480 do from time to time they pay off. But what I don't like is 241 00:20:45.519 --> 00:20:52.200 this. They extract from you a premium based on what they tell you they 242 00:20:52.240 --> 00:20:57.240 will cover, but you don't know what they're going to cover until it goes 243 00:20:57.279 --> 00:21:03.359 wrong. You don't know. So you're paying for something. Here's what home 244 00:21:03.400 --> 00:21:06.799 warranties companies say. Here's what they say, and they hate when I bring 245 00:21:06.839 --> 00:21:08.920 this up, but you read their contract. Here's what they say. You're 246 00:21:08.960 --> 00:21:15.559 going to pass x amount of dollars based on this many items, but we're 247 00:21:15.599 --> 00:21:21.200 going to let you know what we cover when those items go bad. So 248 00:21:21.559 --> 00:21:26.039 if they went and inspected a home and then said, okay, here's what 249 00:21:26.119 --> 00:21:30.680 we're covering, like a real insurance company or a real service company, but 250 00:21:30.759 --> 00:21:38.440 they don't. They blindly cover everything and then look for exclusions later. Now, 251 00:21:40.039 --> 00:21:44.720 some people happen to hit it right and get something that pays off, 252 00:21:45.200 --> 00:21:51.279 but most of the time they never pay off. They may do something here 253 00:21:51.400 --> 00:21:55.880 and there. But I assure you, if you put into a bucket the 254 00:21:56.000 --> 00:22:00.200 money that they supposedly are going to cover you, and then you take the 255 00:22:00.240 --> 00:22:03.440 other how much you took out of the bucket, you're going to be behind. 256 00:22:03.680 --> 00:22:06.759 And people are going to say, well, of course, that's because 257 00:22:06.839 --> 00:22:11.240 they have to make a profit, that's right. So do they have your 258 00:22:11.240 --> 00:22:14.759 best interests? No, they do not. They're not a home warranty. 259 00:22:15.079 --> 00:22:18.519 Now, Now people say, well, Tom, I like wine. Okay. 260 00:22:18.759 --> 00:22:21.960 Most people that say they like their has never had a problem or they 261 00:22:22.000 --> 00:22:25.480 had something replaced, so they think it's wonderful, But they're going to come 262 00:22:25.519 --> 00:22:29.839 across something major when they won't replace it. And by the way, when 263 00:22:29.920 --> 00:22:33.640 you say replacement, there's an actual cash value max on that that you're going 264 00:22:33.720 --> 00:22:37.319 to find in almost every policy. Here's another thing I want to say, 265 00:22:37.720 --> 00:22:44.240 So what do I recommend? This is the one time you would be doe 266 00:22:44.720 --> 00:22:53.559 head absolutely positively dollars ahead if you took a credit card and put it aside 267 00:22:53.960 --> 00:22:59.359 for home emergency. That's it, home emergency, a credit card. Now 268 00:22:59.759 --> 00:23:03.319 the monthly payment that you are paying for that, put in a savings account, 269 00:23:04.440 --> 00:23:07.599 just put it somewhere, put it in a CD, put it anywhere, 270 00:23:08.200 --> 00:23:11.920 and then when something goes wrong that you can't afford, you put it 271 00:23:11.960 --> 00:23:15.640 on that credit card. And then you pay as much down on that credit 272 00:23:15.720 --> 00:23:19.160 card as you can with the money you've saved, and then you make the 273 00:23:19.200 --> 00:23:23.279 rest of the payments and pay it off. Then when you're done paying that 274 00:23:23.359 --> 00:23:30.160 off, it's done. It's done. And then you don't have a warranty 275 00:23:30.200 --> 00:23:36.240 payment every single month, no matter what. So do I believe in home 276 00:23:36.279 --> 00:23:38.799 warranties? No, not the way they're currently written, they're the worst deal 277 00:23:38.880 --> 00:23:42.839 you can buy. With a credit card and a savings account, you will 278 00:23:42.839 --> 00:23:47.880 be much better off, way better off. Even the interest you pay on 279 00:23:47.920 --> 00:23:53.039 a credit card paying off a home emergency is less money than paying for twenty 280 00:23:53.200 --> 00:23:56.599 years of premiums. You'll see if you put the money, if you put 281 00:23:56.880 --> 00:24:00.039 the if you put down on paper, you will see it. So no, 282 00:24:00.240 --> 00:24:03.480 I would not buy one. In net so I can't tell you. 283 00:24:03.000 --> 00:24:08.000 If you can find one that will inspect your house and guarantee coverage on everything 284 00:24:08.039 --> 00:24:11.799 that they cover, then I pay the premium. Gladly we have more coming 285 00:24:11.880 --> 00:24:22.640 up. I'm Tom Martino. Go with a sure thing Denver's Best roofer Excel 286 00:24:22.720 --> 00:24:29.519 Roofing dot com. You don't pay a cent until you're content. Time for 287 00:24:29.559 --> 00:24:33.920 an insurance check up free, no obligation. In comparison, call Compass Insurance 288 00:24:33.039 --> 00:24:37.200 paying too much your coverage at dozens of insurance companies find out now three oh 289 00:24:37.240 --> 00:24:41.000 three seven seven to one help. You'll think you're his only customer when you 290 00:24:41.079 --> 00:24:45.240 choose Frank durand the real estate Man dot com to list your home with Remax 291 00:24:45.279 --> 00:24:53.799 Alliance three oh three nine two zero sixteen twenty two. I'm Tom Martino. 292 00:24:53.920 --> 00:24:57.599 Welcome to the show. Three oh three seven one three talk three oh three 293 00:24:57.759 --> 00:25:03.920 seven one three eight two fo five. Speaking of wise financial moves, Compass 294 00:25:03.920 --> 00:25:07.440 Insurance Group will do free insurance checkups three oh three nine nine six nine thousand. 295 00:25:07.920 --> 00:25:11.160 They'll compare twenty six companies. Tell them what you have, what you 296 00:25:11.279 --> 00:25:15.680 need, and they'll be honest with you straight up. If they can't beat 297 00:25:15.720 --> 00:25:18.359 it, they can't beat it. Three oh three nine nine six nine thousand. 298 00:25:18.880 --> 00:25:23.039 So the average premium on a home warranty, well, there's no average. 299 00:25:23.279 --> 00:25:29.599 There's a range from thirty five dollars to ninety dollars, honest to god. 300 00:25:30.519 --> 00:25:34.119 Now most of them fall within forty to seventy dollars, and the forty 301 00:25:34.160 --> 00:25:38.519 you get not much. But they're like major systems, supposedly. Here's the 302 00:25:38.559 --> 00:25:44.799 thing. Whether it comes to waterline coverage, sewer line coverage, home warranties, 303 00:25:44.880 --> 00:25:52.359 they all suck. I truly recommend a credit card, and I truly 304 00:25:52.440 --> 00:25:56.519 recommend you stash money away. If you're gonna make the payment on the premium, 305 00:25:56.559 --> 00:26:00.680 just stash it away. You will be mile and miles ahead. That's 306 00:26:00.759 --> 00:26:07.359 just life. And even if you had to finance a furnace with a separate 307 00:26:07.400 --> 00:26:11.319 loan. A lot of these companies Plumbline fix at twenty four to seven eight 308 00:26:11.319 --> 00:26:15.400 eight eight, Heating, dot Com Brothers. All of these major companies on 309 00:26:15.440 --> 00:26:21.519 my referral list have financing and your miles ahead. Some of them be eble 310 00:26:21.519 --> 00:26:26.480 to have twelve months same as cash your miles ahead. Doing that, then 311 00:26:26.559 --> 00:26:33.039 having a home warranty. Home warranties suck. And I defy anyone, and 312 00:26:33.119 --> 00:26:37.880 I promise you, I'll give you your say. Anyone listening anyone, you, 313 00:26:38.359 --> 00:26:42.359 especially if you sell these things, let me know. I want you 314 00:26:42.440 --> 00:26:47.079 to tell me because I know what your exclusions are. I know what your 315 00:26:47.119 --> 00:26:51.319 contracts say. You will never you know, normal wear and tear, for 316 00:26:51.519 --> 00:27:00.519 God's sakes, that's what breaks down. Yeah, what what is this pre 317 00:27:00.880 --> 00:27:11.039 existing condition? Crap? Threeh three seven one three talk three oh three seven 318 00:27:11.119 --> 00:27:18.559 one three A two five five. Now we are talking about your life, 319 00:27:18.839 --> 00:27:23.799 liberty and the pursuit of happiness. And I have some news here that I've 320 00:27:25.319 --> 00:27:32.559 I've gotten together. Okay, right now, people are complaining, listen to 321 00:27:32.599 --> 00:27:37.319 this. I never thought of this, but they claim bosses claim. This 322 00:27:37.559 --> 00:27:45.559 is a research project taken on by one of these big job sites and the 323 00:27:45.599 --> 00:27:53.400 Wall Street Journal. Employers are complaining that employees are now afraid to talk on 324 00:27:53.480 --> 00:28:00.599 the phone. Younger employees. I'm you know, forget all gen and stuff 325 00:28:00.640 --> 00:28:04.839 whatever. Younger employees. Let's just call it what it is. Employees in 326 00:28:04.880 --> 00:28:11.960 their twenties, thirties, and early forties, but mostly twenties and thirties either 327 00:28:11.079 --> 00:28:17.440 don't know how or are afraid to talk on the phone. Why because they're 328 00:28:17.480 --> 00:28:25.359 the texting generations. They text, they do shortcuts and texting, and are 329 00:28:25.440 --> 00:28:32.000 losing communication skills, especially when it comes to phone work, and they're finding 330 00:28:32.160 --> 00:28:37.079 not only do they not like talking on the phone, they don't know how 331 00:28:37.119 --> 00:28:42.680 to communicate and to get people to do phone sales is almost impossible now. 332 00:28:44.519 --> 00:28:51.480 So guess what they're Guess what they're what they're adding. They're adding artificial intelligence. 333 00:28:52.319 --> 00:28:59.680 Artificial intelligence. Artificial intelligence is like the new thing. Do you think 334 00:28:59.720 --> 00:29:03.519 you can tell if you're talking to a robot? Do you think you can 335 00:29:03.559 --> 00:29:07.279 tell? Not? What you think? Now? I had some Did I 336 00:29:07.319 --> 00:29:11.400 ever play these? I actually have honest to God live samples not love. 337 00:29:11.480 --> 00:29:21.079 Yeah, yeah, they're recorded live and they are examples of phone work AI. 338 00:29:21.680 --> 00:29:23.319 I actually I swear to you I did it. I'm gonna try. 339 00:29:23.720 --> 00:29:27.480 I'm looking for one right now. I actually have one. Let me see, 340 00:29:27.559 --> 00:29:32.920 here's one now, this is for sure. Now, this is a 341 00:29:32.960 --> 00:29:40.000 solar company in Florida that was using an AI bot. Listen, Hi, 342 00:29:40.119 --> 00:29:45.680 Judy, it's Amber. How have you been. Yeah, I'm just getting 343 00:29:45.720 --> 00:29:49.640 back to you in regards to the electric meter that was installed at five hundred 344 00:29:49.640 --> 00:29:53.200 and twelve Langford Lane. I've been a photo of your home to make sure 345 00:29:53.200 --> 00:29:59.319 we're looking at the right place. Do I have the right house? I 346 00:29:59.359 --> 00:30:03.359 don't know. Oh, I'm driving right now and I can't divert my attention 347 00:30:03.640 --> 00:30:10.559 to my phone. No worries, I understand when you have a moment. 348 00:30:10.680 --> 00:30:12.279 Could you take a look at the photo and let me know if it's the 349 00:30:12.359 --> 00:30:15.720 right house? Now? Hold on, do you hear what's going on here? 350 00:30:17.200 --> 00:30:21.640 Do you find that remarkable how they respond to the variables? This is 351 00:30:21.680 --> 00:30:25.039 an honest to god real call. That's a robot you're listening to. I 352 00:30:25.079 --> 00:30:30.240 think the lady in the car is a robot. Listen, Well, not 353 00:30:30.400 --> 00:30:36.119 while I'm driving. We'll have to do this call another time. Can you 354 00:30:36.200 --> 00:30:41.880 call me back tomorrow. I totally get it. Unfortunately, I have a 355 00:30:41.880 --> 00:30:44.880 lot of people to speak with and won't be able to call back. However, 356 00:30:44.920 --> 00:30:47.440 if you have some time over the next couple of days, I can 357 00:30:47.480 --> 00:30:51.480 have an expert speak with you. I have availability tomorrow at four pm and 358 00:30:51.519 --> 00:30:56.160 five pm Central time. Which one works better for you? Make it four 359 00:30:56.240 --> 00:31:00.680 pm? Do you hear this? And one ession in regard to is it 360 00:31:02.039 --> 00:31:07.640 to solar panels? So a couple of years back, everyone's electric meter in 361 00:31:07.680 --> 00:31:12.839 New Boston was upgraded from analog to digital in preparation for the net metering program. 362 00:31:14.200 --> 00:31:17.000 This is the reason for my call, which is being recorded for quality 363 00:31:17.039 --> 00:31:21.160 assurance. With this program, there is a possibility we will be able to 364 00:31:21.200 --> 00:31:25.559 help you reduce your electric bill by up to forty Has anybody come by to 365 00:31:25.599 --> 00:31:30.960 talk to you about this upgrade yet? Yes? If the gen regard to 366 00:31:30.119 --> 00:31:34.519 sower panels, then I vouted not to do it. So if that's what 367 00:31:34.640 --> 00:31:42.119 it is, I'm not going with. I understand your concern, but trust 368 00:31:42.160 --> 00:31:45.119 me, our team is really good at what we do. We do a 369 00:31:45.160 --> 00:31:49.319 free energy evaluation for everyone with the new meters, and whether you want to 370 00:31:49.359 --> 00:31:52.079 save money or not, we just want to be able to give you the 371 00:31:52.160 --> 00:31:56.079 information to help. The mornings or afternoons usually work better for us. I 372 00:31:56.079 --> 00:32:02.640 think she goes right to the appointment after gotcha, we are super busy. 373 00:32:02.640 --> 00:32:07.160 But what day in the next day or so works best for you? It 374 00:32:07.160 --> 00:32:13.640 would have to be tomorrow. I'm busy the rest of the week. Okay, 375 00:32:13.759 --> 00:32:16.319 let me check. Now, listen, it's uncanny, tom there's no 376 00:32:16.440 --> 00:32:22.480 question, no no, I mean, can you imagine the intelligence it takes. 377 00:32:22.559 --> 00:32:28.000 I mean that the programming. But this bot goes on and then they 378 00:32:28.039 --> 00:32:30.720 have a mail that does it as well. This bot goes on, I 379 00:32:30.880 --> 00:32:37.720 swear to you, and probably is successful eighty five percent of the time. 380 00:32:38.240 --> 00:32:43.680 Now that's an incredible appointment setting rate. Now I want to tell you. 381 00:32:43.839 --> 00:32:45.160 I'm not going to tell you the name of the company, but I know 382 00:32:45.279 --> 00:32:52.160 someone personally who's using it here in town, and no one suspects it's a 383 00:32:52.160 --> 00:32:54.680 bot. No one, No one I saw him. You know what, 384 00:32:54.759 --> 00:32:59.680 I think we ought to get a bunch of people to sign a petition to 385 00:33:00.039 --> 00:33:06.119 Don'tier airlines use AI. Since you can't talk to the real person at least, 386 00:33:06.119 --> 00:33:13.680 maybe that would help, right right anyway? Three oh three seven one 387 00:33:13.759 --> 00:33:17.039 three talks seven one three eight two five five. You know that's good idea. 388 00:33:17.440 --> 00:33:22.200 We should Anyway, we got more coming up on the Troubleshooter Show. 389 00:33:25.759 --> 00:33:30.039 Go with a sure thing Denver's best roofer Excel Roofing dot com. You don't 390 00:33:30.079 --> 00:33:37.880 pay a cent until you're content. Wait time for an insurance checkup free, 391 00:33:37.960 --> 00:33:42.640 no obligation. In comparison, call Compass Insurance paying too much your coverage at 392 00:33:42.680 --> 00:33:45.759 dozens of insurance companies find out now three oh three seven seven to one help. 393 00:33:45.880 --> 00:33:50.480 You'll think you're his only customer when you choose Frank durand the real estate 394 00:33:50.519 --> 00:33:53.759 Man dot com to list your home with Remax Alliance. Three oh three nine 395 00:33:53.799 --> 00:34:05.640 two zero sixteen twenty two. Yes, I'm Martino, you're Troubleshooter three oh 396 00:34:05.720 --> 00:34:13.400 three seven to one three talk seven one three eight two five five. Okay, 397 00:34:13.440 --> 00:34:15.880 So what's going on in your life and how can we help you? 398 00:34:15.159 --> 00:34:19.199 That's what we ask every day. Three oh three seven one three talk seven 399 00:34:19.239 --> 00:34:21.920 one three eight two five five. Now I don't have time to take probably 400 00:34:21.960 --> 00:34:23.920 calls right now because we're toward the end of the hour, but I will 401 00:34:23.960 --> 00:34:28.920 be ready for your calls anytime you have them. And uh, you can 402 00:34:28.960 --> 00:34:31.760 also call three Zho three Martino and leave a message and we will get back 403 00:34:31.760 --> 00:34:36.159 to you. But there is something very troubling going on that I warned you 404 00:34:36.159 --> 00:34:39.920 people about, and it's happening still. I don't know what the hell's being 405 00:34:39.960 --> 00:34:46.880 done. In fact, I think we should probably try to get someone Kachina, 406 00:34:47.119 --> 00:34:51.280 and you know, Deputy Doc might be able to do that while he's 407 00:34:51.320 --> 00:34:57.719 there. We should try to get someone from the Consumer Finance Protection Bereau on 408 00:34:57.719 --> 00:35:02.599 one of their PR people. This thing about bank fraud is going on all 409 00:35:02.679 --> 00:35:12.119 over the country. It's too mind boggling. They're closing people's accounts for so 410 00:35:12.360 --> 00:35:17.239 called suspicious activity and then you don't get access to your money and they say 411 00:35:17.239 --> 00:35:24.000 we're investigating. We have people losing thousands and thousands of dollars all over and 412 00:35:24.119 --> 00:35:31.039 some of the biggest offenders Wells, Fargo, USAA, major banks just taking 413 00:35:31.119 --> 00:35:37.719 your money and saying it was because of fraud. We got more on that 414 00:35:37.840 --> 00:35:44.480 and coming up. Go with a sure thing Denver's Best roofer Excel roofing dot 415 00:35:44.519 --> 00:35:51.199 com. You don't pay a cent until you're content. Time for an insurance 416 00:35:51.280 --> 00:35:54.840 checkup free, no obligation. In comparison, call Compass Insurance paying too much 417 00:35:54.960 --> 00:35:59.880 your coverage at dozens of insurance companies. Find out now three O three seven 418 00:36:00.039 --> 00:36:04.000 seven one help. You'll think you're his only customer when you choose Frank durand 419 00:36:04.039 --> 00:36:07.440 the real estate man dot com to list your home with Remax Alliance three all 420 00:36:07.480 --> 00:36:20.719 three nine two zero sixteen twenty two. Yeah, ripped up new need advice. 421 00:36:20.800 --> 00:36:28.519 Who you don't have? Come running sustas as we can. Shooter's gonna 422 00:36:28.599 --> 00:36:37.039 help coming Man Dix is the Troubleshooter Show. Now Tom Martino, Hi, 423 00:36:37.159 --> 00:36:42.599 Tom Martino, your trouble Shooter three oh three seven one three talk three all 424 00:36:42.639 --> 00:36:46.079 three seven one three eight two five five, Welcome to the show. We 425 00:36:46.199 --> 00:36:51.320 got a lot going on here. And uh I have a Joe Cano with 426 00:36:51.400 --> 00:36:57.599 us from uh my Moneymway dot com, a certified financial planner, and we 427 00:36:57.599 --> 00:37:04.760 were talking about in the first hour some of the things that cause financial ruin. 428 00:37:05.239 --> 00:37:07.440 Credit cards are the first thing to go wrong with young people. Credit 429 00:37:07.519 --> 00:37:10.800 cards, credit card deck. Now that's not to say I'm not going to 430 00:37:10.880 --> 00:37:14.280 go over the whole thing again. It's not to say you shouldn't use credit 431 00:37:14.360 --> 00:37:16.440 cards, but you should use them wisely. They're not meant to be extra 432 00:37:16.480 --> 00:37:21.480 income. They're meant for emergencies or convenience, and when it's for convenience, 433 00:37:21.519 --> 00:37:23.760 you want to get something and then pay, you should limit that to something 434 00:37:23.800 --> 00:37:29.199 you can pay in thirty days to sixty and on the very outside six months 435 00:37:29.199 --> 00:37:32.199 for major purchases. Again, I also believe you should have a credit card 436 00:37:32.239 --> 00:37:38.320 for homer emergencies instead of home warranties. Home warranties suck. They absolutely positively 437 00:37:38.760 --> 00:37:43.679 suck. There is just no other way to put it. I can think 438 00:37:43.719 --> 00:37:46.679 of no home warranty worth the paper it's written on. Now. The second 439 00:37:46.679 --> 00:37:53.880 way people get in trouble is with cars. It's the number two financial ruination 440 00:37:54.119 --> 00:38:04.280 tool in the devil's toolbox. Now, I'm saying that what people do is 441 00:38:04.320 --> 00:38:08.159 they make the wrong purchase for too much money about ninety percent of the time. 442 00:38:09.000 --> 00:38:13.840 Now, if they work their ass off and just pay it off, 443 00:38:14.400 --> 00:38:17.599 they might get out of it. The big problem is when people buy a 444 00:38:17.760 --> 00:38:23.639 car, whether new or used, and do not commit to keeping it or 445 00:38:23.960 --> 00:38:29.360 destroy it, don't take care of it, don't maintain it. For whatever 446 00:38:29.400 --> 00:38:34.119 reason, they have to get rid of it and they're underwater. The negative 447 00:38:34.159 --> 00:38:38.119 equity in that car when you owe more than it is worth, will never 448 00:38:38.519 --> 00:38:46.440 go away unless you simply work and pay it off. You cannot. Ever, 449 00:38:46.840 --> 00:38:51.920 you should never get rid of a car with negative equity. Now the 450 00:38:51.920 --> 00:38:54.239 car blows up and is no good. That means you made a stupid purchase 451 00:38:54.280 --> 00:39:01.320 to begin with. But a negative equity. Okay, So let's say you're 452 00:39:01.360 --> 00:39:08.039 upside down six thousand dollars. When you buy another car. That six thousand 453 00:39:08.119 --> 00:39:14.840 dollars goes on that car. That's going to multiply your negative equity in that 454 00:39:14.960 --> 00:39:27.000 car. Now, if you're stupid, and if you truly buy something that 455 00:39:25.480 --> 00:39:30.480 that that got you in trouble, the way to get out of it. 456 00:39:30.599 --> 00:39:35.320 One of the ways would be to get a load to no interest loan on 457 00:39:35.360 --> 00:39:42.239 a special incentive from a manufacturer, put the negative equity on a new car, 458 00:39:43.039 --> 00:39:47.440 and then work like hell to keep that car in perfect condition and pay 459 00:39:49.000 --> 00:39:54.639 it off. Do not buy another car or trade that car until it is 460 00:39:54.760 --> 00:40:00.320 paid off. That's one of the few times you can really get ahead of 461 00:40:00.400 --> 00:40:05.920 negative equity. But the best thing is not to have the negative equity to 462 00:40:06.079 --> 00:40:12.239 begin with. Negative equity will kill you, and it just keeps growing. 463 00:40:12.880 --> 00:40:16.360 I give an example of a kid I knew who bought a car. He 464 00:40:16.440 --> 00:40:22.119 had to have a muscle car. He paid too much, ran the crap 465 00:40:22.159 --> 00:40:29.960 out of it, traded it because he did something to the engine. Had 466 00:40:30.079 --> 00:40:34.840 eight thousand dollars in negative equity in his next car. That car turned out 467 00:40:34.840 --> 00:40:37.480 to be four thousand. He had twelve thousand going forward. So he had 468 00:40:37.519 --> 00:40:40.360 to buy a piece of crap so we could afford the payments to put that 469 00:40:40.400 --> 00:40:45.920 twelve thousand on it. So he bought a piece of crap. So now 470 00:40:45.960 --> 00:40:49.719 he had twelve and a piece of crap. Six He had an eighteen thousand 471 00:40:49.800 --> 00:40:53.119 dollars loan on a piece of crap that would not last the time he owed 472 00:40:53.159 --> 00:40:59.960 the money, and he had to declare bankruptcy from a car, credit card 473 00:41:00.280 --> 00:41:04.800 and cars. So what do I recommend you do? I recommend the wise 474 00:41:04.920 --> 00:41:07.719 use of credit. As I said, and I'm going to give you two 475 00:41:07.840 --> 00:41:15.480 words that I swear to you are going to send shock waves. Shock waves. 476 00:41:17.320 --> 00:41:22.559 But it's something that we need to know, we need to know. 477 00:41:22.639 --> 00:41:28.039 It's something that we must come to grips with as young people. I'm saying 478 00:41:28.079 --> 00:41:30.360 as young people. I'm not young, but something that I came to grips 479 00:41:30.440 --> 00:41:35.840 with and it made me rich Yep, at a very young age. Do 480 00:41:35.880 --> 00:41:38.920 you know why I came to grips with something? And it's something that you 481 00:41:39.480 --> 00:41:45.679 need to come to grips with, and it's going to scare the living hell 482 00:41:45.719 --> 00:41:49.000 out of you. Does anyone want to take a stab at what I'm going 483 00:41:49.039 --> 00:41:52.280 to say? Because it will, I swear to you, it will scare 484 00:41:52.360 --> 00:42:01.639 you. And here's what it is. Ready, you must sometimes times do 485 00:42:05.480 --> 00:42:19.519 without? No, no, no, no never. Yep, you have 486 00:42:19.599 --> 00:42:27.280 to sometimes do without. Do you know that is actually something that you should 487 00:42:27.320 --> 00:42:35.239 consider doing without? How does that sound? Do you think anyone can do 488 00:42:35.280 --> 00:42:43.519 that? Joe Cannon My Money, Myway dot com. Joe, we talked 489 00:42:43.559 --> 00:42:50.519 about much of the dollar for tax much of the dollar for financing, because 490 00:42:50.559 --> 00:42:55.719 we've done stupid things and we've purchased things we shouldn't be purchased, or we 491 00:42:55.880 --> 00:43:02.119 finance things we can't afford, and we're up side down with financing and taxes, 492 00:43:02.440 --> 00:43:07.159 hardly have any for ourselves. So what's your recommendation? Come on, 493 00:43:07.400 --> 00:43:10.199 you're a certified financial planner. If you were instructing a young person, what 494 00:43:10.199 --> 00:43:15.119 would you tell them? Yeah? Tom, you know, we actually we 495 00:43:15.199 --> 00:43:19.199 got the numbers, We got the percentages, for the dollar bill that you 496 00:43:19.239 --> 00:43:23.679 and I were talking about earlier, actually thirty six percent of each dollar goes 497 00:43:23.719 --> 00:43:30.760 to pay taxes. Thirty four point five percent of that dollar bill goes to 498 00:43:30.920 --> 00:43:37.760 banks for finance charges. So people today are left with only one third of 499 00:43:37.800 --> 00:43:42.840 a dollar. And you know what most people do. They put this money 500 00:43:43.039 --> 00:43:45.840 at risk, the one third of the dollar that they have. Now, 501 00:43:45.880 --> 00:43:49.679 by the way, when you're talking about taxes, that's not to say everyone's 502 00:43:49.719 --> 00:43:52.559 in that tax bracket, but what you're talking about with taxes are all kinds 503 00:43:52.599 --> 00:43:58.239 of taxes. That is, okay, gotcha entertain human tax and all that. 504 00:43:58.360 --> 00:44:01.880 Right, So one third of that dollar bill that is left actually people 505 00:44:01.920 --> 00:44:07.039 put the money at risk and put it in the stock market, so when 506 00:44:07.039 --> 00:44:10.400 the market goes down, they have nothing. And this is exactly what I've 507 00:44:10.400 --> 00:44:15.960 been talking to people about. And okay, on your point, on your 508 00:44:15.039 --> 00:44:20.320 point, Tom regarding what to do, you know is to get out of 509 00:44:20.400 --> 00:44:25.400 debt. And we have a program helped become the banker that you can actually. 510 00:44:25.480 --> 00:44:28.519 Now this is just for young people. You know. We talk a 511 00:44:28.559 --> 00:44:32.880 lot about taking money you've accumulated through your life in a retirement plan and rolling 512 00:44:32.920 --> 00:44:37.199 it over to a guaranteed product for income. But now let's talk about young 513 00:44:37.239 --> 00:44:42.440 people. I want you to tell me what Jordan did your son? Yeah, 514 00:44:42.559 --> 00:44:45.360 Jordan, actually you know when it was sixteen years you know, I 515 00:44:45.400 --> 00:44:51.320 bet him up. I become the banker life insurance policy. I overfunded that 516 00:44:51.559 --> 00:44:55.400 policy, being that I paid more than the premium into the policy. It 517 00:44:55.480 --> 00:45:04.239 builds tax free cash value. And when he was sixteen years old, we 518 00:45:04.239 --> 00:45:09.760 were able to take a policy loan against the policy bake cash for that car. 519 00:45:09.840 --> 00:45:15.360 It was the nineteen seventy nine Grand Cherchu Larredo, okay, and he 520 00:45:15.440 --> 00:45:19.920 got a job a subway and he began making money and I told him, 521 00:45:19.960 --> 00:45:23.840 Jordan, you're going to have to pay back the policy loan, just like 522 00:45:23.960 --> 00:45:29.880 you would at the first Bank of Littleton, which was back at that point. 523 00:45:30.280 --> 00:45:32.679 But he bought himself a car, right, Yeah, So in three 524 00:45:32.800 --> 00:45:37.519 years that car was paid off. He had the money and instead of paying 525 00:45:37.559 --> 00:45:43.239 the interest, instead of paying the interest to a bank, the interest went 526 00:45:43.320 --> 00:45:51.320 into his account at the at the insurance and grew tax free exactly. And 527 00:45:51.400 --> 00:45:55.400 he did the same thing with a condo that he bought in Dringwood Village like 528 00:45:55.639 --> 00:46:01.440 fifteen years ago. He's renting that out now and he's doing the same thing 529 00:46:01.559 --> 00:46:07.800 with the swimming and here in Parker that he did about five years ago. 530 00:46:07.039 --> 00:46:12.800 So it is a tool for young people that want to be totally out of 531 00:46:12.840 --> 00:46:17.400 debt. We can actually show people how to get out of debt tom and 532 00:46:17.519 --> 00:46:23.559 nine years or less by using the principle of becoming their own bankers. See, 533 00:46:23.639 --> 00:46:27.920 banks make a lot of money. They make now. By the way, 534 00:46:28.000 --> 00:46:30.159 if people think, well, I'll just have a savings account, you 535 00:46:30.159 --> 00:46:35.159 know, there's nothing wrong with a savings account, but this other way as 536 00:46:35.199 --> 00:46:39.880 well. A few bucks a month overfunding a life insurance policy. You have 537 00:46:39.960 --> 00:46:44.800 life insurance, but that's not the reason you do this, younger. You 538 00:46:44.920 --> 00:46:51.039 do this mainly for the tax deferred growth. Yeah the text deferred growth. 539 00:46:51.079 --> 00:46:52.559 And you know, having a savings account is okay, like you said, 540 00:46:52.599 --> 00:46:57.480 but it's not the same. You See, when you borrow money from a 541 00:46:57.480 --> 00:47:01.199 life insurance policy, you don't borrow from your own money. You don't borrow 542 00:47:01.280 --> 00:47:06.440 it from your cash value of the policy. You're borrowing the money from the 543 00:47:06.480 --> 00:47:12.039 life insurance company. So that means that your cash value stays the same, 544 00:47:12.320 --> 00:47:16.880 right, And then they charge you an interest rate, a very small rate 545 00:47:17.800 --> 00:47:22.599 and then you charge yourself more than that on purpose, right, that is 546 00:47:22.719 --> 00:47:29.320 right, that's what we call overfunding the policy. And so it's not the 547 00:47:29.360 --> 00:47:32.960 same as a savings account. It's better than a savings account. No, 548 00:47:34.000 --> 00:47:37.559 I understand that because for sure, because when you need cash you can take 549 00:47:37.599 --> 00:47:42.760 it out as a loan and then pay it back to yourself instead of becoming 550 00:47:43.039 --> 00:47:46.920 beholding to a credit card company or a bank, You're just doing it for 551 00:47:46.920 --> 00:47:52.519 yourself. It's such a wonderful tool. It is. So what happens if 552 00:47:52.559 --> 00:47:55.000 you miss a payment? You're the banker. You don't know what's make it 553 00:47:55.079 --> 00:48:00.320 up later? You can't. And also I want to say this, like 554 00:48:00.360 --> 00:48:04.480 for my son coming up on eighteen. So and I know I'm an old 555 00:48:04.480 --> 00:48:07.320 fart for an eighteen year old, but here's what I want to ask you. 556 00:48:07.400 --> 00:48:12.960 Joe, the cost of insurance is cheap. Oh it is. The 557 00:48:13.039 --> 00:48:16.880 younger you are, the better. So this is a perfect time for somebody. 558 00:48:17.159 --> 00:48:22.400 What would you suggest for what would you suggest if I'm getting my first 559 00:48:22.440 --> 00:48:24.880 policy for my son, because I want to mimic what Jason did, oh, 560 00:48:24.960 --> 00:48:29.760 which is me what your son did? And Jordan, yeah, George, 561 00:48:29.800 --> 00:48:35.079 of course, of course. So what I meant was what amount what 562 00:48:35.280 --> 00:48:38.679 face value to put on a policy for a young person? Yeah, you 563 00:48:38.719 --> 00:48:44.480 don't do a face value in those on the beginning, I mean a death 564 00:48:44.519 --> 00:48:46.800 benefit. What kind of death benefit is what I meant, not even a 565 00:48:46.800 --> 00:48:50.519 death benefit. What you're going to be concerned about is the money that you 566 00:48:50.519 --> 00:48:54.239 want to put into the policy. Oh, you should be asking what premium 567 00:48:54.239 --> 00:48:58.840 do I want to put in? So you know, it's up to you. 568 00:48:59.239 --> 00:49:02.280 But the more premium that you put into the ball c the faster that 569 00:49:02.320 --> 00:49:07.440 the cash value will build and the sooner that your son will be able to 570 00:49:07.440 --> 00:49:09.800 tell. Yeah, but obviously here's what I mean, Joe. If here's 571 00:49:09.800 --> 00:49:14.440 what I mean by that the premium, Yes, but the life would be 572 00:49:14.480 --> 00:49:16.159 too. For example, if you want to put two hundred miles a month 573 00:49:16.199 --> 00:49:22.760 away, right, but then you had a high death death benefit, then 574 00:49:22.880 --> 00:49:25.000 it would be less cash value than if you had a lower death That is 575 00:49:25.079 --> 00:49:30.280 right. That is right, tom. So we become the banker's strategy. 576 00:49:30.639 --> 00:49:37.480 We tried to minimize the death benefit. So you you start with how much 577 00:49:37.559 --> 00:49:42.679 do you want to save? Basically that is right, and then we'll figure 578 00:49:42.719 --> 00:49:47.519 the rest of it out. Yeah, okay, we'll think okay, all 579 00:49:47.599 --> 00:49:51.119 right, thank you very much. That's Joe Canno. We got more coming 580 00:49:51.199 --> 00:49:52.119 up. I want you to give me a call if you have any questions 581 00:49:52.159 --> 00:49:55.719 for him or for me, or any problems, questions and complaints of course 582 00:49:55.760 --> 00:50:00.960 of any kind. Three zho three seven to one three eight two five five. 583 00:50:00.079 --> 00:50:07.280 And I want to tell you also about Denverregen dot com. Denver Regen, 584 00:50:07.639 --> 00:50:12.880 let me just tell you they have a new revolutionary hair restoration system they're 585 00:50:12.920 --> 00:50:15.639 doing with stem cells, better than stem cells. It's a mixture and its 586 00:50:15.719 --> 00:50:20.679 Denverregen dot com. Along with of course, they're doing the weight loss supplement. 587 00:50:21.199 --> 00:50:23.960 I say supplement. It's a drug Semaglue Tide at pennies on the dollar 588 00:50:24.039 --> 00:50:34.360 compared to everyone else. Denver Regen dot com. Go with a sure thing 589 00:50:34.480 --> 00:50:37.920 Denver's best roofer Excel Roofing dot com. You don't pay a cent until you're 590 00:50:37.960 --> 00:50:45.320 content. Time for an insurance check up, free, no obligation comparison call 591 00:50:45.400 --> 00:50:51.159 compass insurance, pay too much your coverage at dozens of insurance companies find out 592 00:50:51.159 --> 00:50:53.280 now three O three seven seven to one. Help. You'll think you're his 593 00:50:53.440 --> 00:50:58.400 only customer when you choose Frank durand the real estate man dot com to list 594 00:50:58.440 --> 00:51:06.960 your home with remax a lot three all three nine two zero sixteen twenty two. 595 00:51:12.920 --> 00:51:19.119 Hi Tom Martino, your troubleshooter three O three seven one three talk three 596 00:51:19.119 --> 00:51:22.960 oh three seven one three eight two five five. Welcome to the show. 597 00:51:22.800 --> 00:51:30.559 Okay, let's uh talk about your problems, questions and complaints. And we 598 00:51:30.679 --> 00:51:37.880 have a financial discussion going on and what makes financial ruin or what starts it? 599 00:51:38.159 --> 00:51:44.159 And I definitely say it all boils down to financing, first with credit 600 00:51:44.199 --> 00:51:50.320 cards and then with cars and being upside down with cars. So as you 601 00:51:50.440 --> 00:51:57.760 approach, as you approach adulthood and have you kids, you have kids who 602 00:51:57.800 --> 00:52:01.519 are doing this. The biggest mistake people make, in my opinion, is 603 00:52:01.559 --> 00:52:07.480 buying an old, used car for someone. I really mean that. Now, 604 00:52:09.000 --> 00:52:15.559 if you get a slightly used, truly good car, it could last 605 00:52:15.599 --> 00:52:22.280 someone. But the problem is they're getting to be so expensive that people make 606 00:52:22.320 --> 00:52:29.840 a mistake of buying used cars and spending too much for them, or they 607 00:52:29.920 --> 00:52:34.599 buy cars with one hundred and fifty thousand miles or more on them. I'm 608 00:52:34.639 --> 00:52:39.920 just going to tell you something, Okay, don't buy cars with over one 609 00:52:40.000 --> 00:52:44.840 hundred thousand miles. Just don't. I don't know how else to put it. 610 00:52:45.079 --> 00:52:51.440 Don't. If you want to do your kit of favor, look for 611 00:52:51.559 --> 00:52:58.719 special finance deals on an entry level new car with a five or ten year 612 00:52:58.760 --> 00:53:06.599 warranty. Those small payments that you make on that car will more than be 613 00:53:06.719 --> 00:53:09.239 made up for, because if you buy an old used car with one hundred 614 00:53:09.280 --> 00:53:14.840 and fifty thousand miles, you will have major problems with it. It's not 615 00:53:14.920 --> 00:53:20.440 a it's just not a question. You're going to now. In very very 616 00:53:21.000 --> 00:53:25.480 rare, rare, rare situations, you have people that take care of cars, 617 00:53:27.039 --> 00:53:30.840 and you might find a gem from a little old lady from Pasadena. 618 00:53:30.920 --> 00:53:35.880 That would be fine. If you can find a gem that was truly taken 619 00:53:35.920 --> 00:53:43.079 care of, do it. But that rarely happens. So in the absence 620 00:53:43.079 --> 00:53:52.079 of thatw a brand new entry level vehicle with the good warranties and really good 621 00:53:52.199 --> 00:53:55.880 loan rates on newer cars they have at all, they do it right there, 622 00:53:55.920 --> 00:54:00.760 and they're incentivizing you to buy that, and you can really get ahead 623 00:54:00.800 --> 00:54:05.719 of the system, but you must keep it for the duration of the loan 624 00:54:06.000 --> 00:54:09.199 or you will never get ahead. Ever, and for older people, you 625 00:54:09.280 --> 00:54:15.880 should look into leasing, but only only if you lease from an honest less 626 00:54:16.000 --> 00:54:22.119 or who does it in a way that you're not paying extra Because it's a 627 00:54:22.199 --> 00:54:29.199 lease, that's a whole different ballgame. See leasing, if only they did 628 00:54:29.239 --> 00:54:32.679 it right, would be very beneficial to people. But most leasing companies don't 629 00:54:32.719 --> 00:54:37.360 do it right. Because it's a lease and the payment is lower because you're 630 00:54:38.079 --> 00:54:43.960 financing the depreciation. What they do is take advantage of that and then pack 631 00:54:44.079 --> 00:54:46.840 the car and make the payment higher. But they say, well, you're 632 00:54:46.840 --> 00:54:52.519 still saving money over a purchase. But it's just I can't even get into 633 00:54:52.559 --> 00:54:55.679 it right now. It's the most stupid way to lease a car. Let's 634 00:54:55.719 --> 00:54:59.920 talk to Al. Al, welcome to the show. What's going on? 635 00:55:00.880 --> 00:55:06.639 Yeah? Uh, you were talking about credit cards earlier, and I have 636 00:55:06.960 --> 00:55:13.000 a fair amount of credit debt due to various reasons, fighting court battles and 637 00:55:15.400 --> 00:55:17.440 I'm unemployed. How much how much that are you in now? Just tell 638 00:55:17.480 --> 00:55:28.519 me how much debt credit cards? Probably forty five thousand and then I you 639 00:55:28.559 --> 00:55:32.880 know, I got a maybe a fifteen thousand dollars car loan, And tell 640 00:55:32.880 --> 00:55:38.199 me how much how much equity in your car? Oh it's yeah, it's 641 00:55:38.239 --> 00:55:43.920 probably twenty five or thirty thousand, that's not that's not my biggest concern. 642 00:55:44.000 --> 00:55:45.559 No, No, I know, I know. I'm just trying to get 643 00:55:45.599 --> 00:55:47.119 a picture here because I know you're going to ask some questions. So the 644 00:55:47.599 --> 00:55:53.559 car is you owe how much on it? Fifteen? Yeah? About fifteen? 645 00:55:54.079 --> 00:56:00.440 And it's truly worth double that? Yes, okay, I'll pay down 646 00:56:00.440 --> 00:56:05.880 in that. I'm good. Uh, just just a tremendous amount of credit 647 00:56:05.920 --> 00:56:10.079 card debt, and I'm curious if there's do you own a home? Yes? 648 00:56:10.920 --> 00:56:17.000 And how much equity in your home? Oh? Five hundred thousand, 649 00:56:17.039 --> 00:56:22.599 But I can't access it because I don't have the credit rating to get a 650 00:56:22.679 --> 00:56:32.480 decent Wait a minute, you have five hundred thousand dollars in equity somewhere in 651 00:56:32.519 --> 00:56:37.559 that range four hundred to five hundred, and you own it alone? Yes? 652 00:56:38.920 --> 00:56:43.039 Okay, wow, Okay, that takes you out of that takes you 653 00:56:43.079 --> 00:56:45.840 out of the bankruptcy thing. Okay, go ahead, right, I can't 654 00:56:45.920 --> 00:56:47.519 I can't go bankrupt. What is the rate? What is the rate on 655 00:56:47.559 --> 00:56:54.760 your loan? Home loan? Yeah? Two point seventy five? I think 656 00:56:54.920 --> 00:56:57.960 something like, God, are you in? Are you in good shape? 657 00:56:58.000 --> 00:57:01.519 There? Keep going? So? Yeah, I'm just I'm The problem I 658 00:57:01.559 --> 00:57:06.320 have is all these credit cards you know there, their interest rates are just 659 00:57:06.440 --> 00:57:13.159 rising every year, and I every time I start making progress on it, 660 00:57:13.400 --> 00:57:16.280 something happens and I go back into, you know, not being able to 661 00:57:16.320 --> 00:57:22.320 pay. And I really want to pay them off. But the idea I'm 662 00:57:22.320 --> 00:57:25.440 looking at is how do I get the lowest interest rate for all my debt 663 00:57:27.760 --> 00:57:30.159 outside? Well, you just said you can't qualify because you have bad credit. 664 00:57:30.239 --> 00:57:35.960 Do you have bad credit? Yeah? Because because I have too much 665 00:57:36.159 --> 00:57:40.440 credit, too or too much did I owe versus? You know? Well, 666 00:57:42.880 --> 00:57:45.559 how much you make a year? How much you make a year? 667 00:57:45.920 --> 00:57:52.320 Well, I was making one forty until March and then I got laid off. 668 00:57:52.360 --> 00:57:55.559 So now I'm doing small jobs, handyman type of work, and so 669 00:57:55.679 --> 00:58:04.480 I'm maybe making thirty in a year. What were you making before? What 670 00:58:04.519 --> 00:58:09.320 were you doing? What were you doing? Engineering? And you can't get 671 00:58:09.360 --> 00:58:15.480 another engineering job. I'm having a real tough time right now finding one. 672 00:58:15.760 --> 00:58:19.639 And everything that I'm finding is usually out of state, and then they put 673 00:58:19.679 --> 00:58:25.239 them on hold. What I'm seeing is that I keep getting interviewed and then 674 00:58:25.320 --> 00:58:32.719 they they just cancel the whole They cancel the position so it's like, I'm 675 00:58:32.760 --> 00:58:36.960 going to tell you you're not alone in this, bro. You want to 676 00:58:36.960 --> 00:58:40.960 hear what I'm hearing. People are not very I don't know why. And 677 00:58:42.159 --> 00:58:45.280 again when I say I don't know why, I don't know the specifics. 678 00:58:45.320 --> 00:58:51.039 I really don't. But people are becoming very hesitant right now about the future. 679 00:58:51.400 --> 00:58:55.039 And I don't know if it's because they fear Biden will be re elected 680 00:58:55.159 --> 00:58:59.119 or if they fear Trump will be elected. I don't know the reason. 681 00:58:59.159 --> 00:59:05.039 I really don't, but I find a lot of corporations right now are hesitant 682 00:59:05.360 --> 00:59:12.559 on hiring right right. They really are. You're the third person I heard 683 00:59:13.239 --> 00:59:17.920 where they started interviewing for a position then eliminated or said we're not going to 684 00:59:19.199 --> 00:59:22.480 fill it right now. Yeah. Well, it's an election year, which 685 00:59:22.519 --> 00:59:28.519 is always tough to find, you know, higher profile jobs, but man 686 00:59:28.599 --> 00:59:34.400 it I think it's worse this year. I'm kind of engineering. Oh well, 687 00:59:34.440 --> 00:59:38.320 I've done mechanical, I've done instrument and controls, and I've been a 688 00:59:38.320 --> 00:59:43.800 project manager for over twenty years. So where was your last year? What 689 00:59:43.840 --> 00:59:51.920 corporation did you work for last Sergeant Lundy? Okay, Now, now I 690 00:59:52.000 --> 01:00:01.079 want to know about your monthly payments on those How many credit cards? Well, 691 01:00:01.079 --> 01:00:06.639 there's primarily there's two that I have the majority of the debt on the 692 01:00:06.679 --> 01:00:10.159 third one I was keeping paid off, but that's not going to continue right 693 01:00:10.199 --> 01:00:15.760 now. So are you? What are your payments on those three credit cards? 694 01:00:15.679 --> 01:00:22.360 Oh? Add it up? Yeah, probably two thousand a month? 695 01:00:23.159 --> 01:00:29.039 Holy crap? And how and and and so at two thousand a month? 696 01:00:29.360 --> 01:00:35.639 How long will you be in debt on that forty five grand? That for? 697 01:00:36.079 --> 01:00:39.440 Yeah, forever? Twenty years? Yeah? What is your fiico right 698 01:00:39.440 --> 01:00:46.519 now? It's not. It just dropped due to a late payment and it's 699 01:00:46.559 --> 01:00:53.519 down to six point thirty. It was at six eighty. But okay, 700 01:00:53.519 --> 01:00:59.599 hold on a second, And how how old are you? Fifty five? 701 01:01:00.800 --> 01:01:04.280 All right, hold on, I want to talk to a couple people here. 702 01:01:04.800 --> 01:01:07.480 Three oh three. You're a very interesting case and we should look into 703 01:01:07.519 --> 01:01:10.920 this. Hold on three oh three, seven, one, three, eight, 704 01:01:10.960 --> 01:01:21.039 two five five. Go with a sure thing Denver's best roofer Excel roofing 705 01:01:21.119 --> 01:01:27.599 dot com. You don't pay a cent until you're content. Time for an 706 01:01:27.639 --> 01:01:32.000 insurance check up, free no obligation comparison call Compass insurance paying too much your 707 01:01:32.039 --> 01:01:37.119 coverage at dozens of insurance companies find out now three oh three seven seven to 708 01:01:37.199 --> 01:01:39.880 one. Help. You'll think you're his only customer when you choose Frank durand 709 01:01:39.880 --> 01:01:45.360 the real estate man dot com to list your home with Remax Alliance three oh 710 01:01:45.360 --> 01:01:52.599 three nine two zero sixteen twenty two. Hi Tom Artino, you're troubleshooter three 711 01:01:52.679 --> 01:01:58.280 O three seven one three talks seven one three eight two five five. All 712 01:01:58.360 --> 01:02:02.480 right, I want to I got a crazy idea for Al. You bring 713 01:02:02.599 --> 01:02:07.079 up Al, I'm going to bring up Mark Massey. Mark, are you 714 01:02:07.119 --> 01:02:14.320 there? Yes, Sir, Mark Massey is in the reverse loan business. 715 01:02:15.199 --> 01:02:19.079 Now, before you go crazy, Al, just hear me out. I 716 01:02:19.119 --> 01:02:23.800 know you're not really a candidate for a reverse loan under normal circumstances, but 717 01:02:24.400 --> 01:02:29.400 you got a very weird situation. And again I might be barking up the 718 01:02:29.400 --> 01:02:32.719 wrong tree. You're fifty five, you have five hundred thousand dollars in equity, 719 01:02:34.039 --> 01:02:37.360 but you have a six thirty FICO and you're struggling with credit card debt 720 01:02:37.400 --> 01:02:43.760 you want to get rid of. So this credit card debt is costing you 721 01:02:43.840 --> 01:02:46.360 a ton of money. And if you got rid of the credit card debt, 722 01:02:46.719 --> 01:02:54.320 your other debt would be manageable, right, yes, now, Mark 723 01:02:54.400 --> 01:02:59.239 Massey, I have a crazy question. If you had somebody like Al with 724 01:02:59.280 --> 01:03:05.360 a six thirty FICO five hundred thousand dollars in equity and he's trying to get 725 01:03:05.400 --> 01:03:09.360 out of debt, all he wants is to get out of forty five thousand 726 01:03:09.400 --> 01:03:14.199 dollars worth of debt. If he got a reverse loan at fifty five. 727 01:03:14.440 --> 01:03:19.119 I know that fifty five there are special reverse loans you can get, and 728 01:03:19.199 --> 01:03:22.840 he simply put enough money in there to pay off the credit cards. And 729 01:03:22.880 --> 01:03:27.039 that was one of the understandings that at closing he'd pay off these credit cards 730 01:03:27.559 --> 01:03:31.800 and then he literally kept the loan until he could refinance it, maybe until 731 01:03:31.880 --> 01:03:35.960 rates go down or whatever, or or keep it. I don't give a 732 01:03:36.039 --> 01:03:39.360 damn what he does. But what I'm saying is is that have you had 733 01:03:39.400 --> 01:03:45.639 people do reverse loans for a temporary measure to get out of debt and then 734 01:03:45.719 --> 01:03:52.039 go back to a conventional loan or keep it. Most people do keep it, 735 01:03:52.079 --> 01:03:55.280 Tom but absolutely that makes sense because it'll pencil out. You know, 736 01:03:55.280 --> 01:04:00.360 if you're paying twenty five to thirty percent on your credit cards, you turn 737 01:04:00.360 --> 01:04:02.559 around and pay seven and a half on forty five thousand. That's a heck 738 01:04:02.599 --> 01:04:06.559 of a lot better, and it helps the situation with a six thirty five, 739 01:04:06.760 --> 01:04:10.320 anything kind of north of six hundred is going to be fine. On 740 01:04:10.360 --> 01:04:14.559 the reverse side, they you know, they get a little the problem. 741 01:04:14.599 --> 01:04:16.960 I see, there's a few things. I see that's a big problem. 742 01:04:17.280 --> 01:04:23.559 His damn loan is only right now, just two point seven five percent. 743 01:04:23.639 --> 01:04:28.519 It's almost like free money for God's sakes. But I but but when you 744 01:04:28.599 --> 01:04:31.920 think about it, when you take his two point seventy five on that and 745 01:04:31.960 --> 01:04:39.320 you average it into his other debt, then you have a blended rate that's 746 01:04:39.360 --> 01:04:44.840 way higher. So so L and that's the right that's the right comparison point. 747 01:04:44.840 --> 01:04:46.719 Tom, Like you're saying what you should do out here, I'm not 748 01:04:46.800 --> 01:04:50.920 recommending you rush into this, but what I'm what I'm saying is if you 749 01:04:51.079 --> 01:04:57.119 pencil it out and you can get a pretty decent rate, that will lower 750 01:04:57.159 --> 01:05:01.960 your overall blended rate, and you can get out of that debt and listen 751 01:05:01.960 --> 01:05:05.400 to this and not have a house payment until you want to refinance it, 752 01:05:05.880 --> 01:05:09.400 or you can make it. You can make your interest payments, you can 753 01:05:09.400 --> 01:05:14.199 do whatever you want. But what I'm getting at is you would have breathing 754 01:05:14.320 --> 01:05:17.960 room here and you would be able to get rid of the high interest debt, 755 01:05:18.039 --> 01:05:23.320 preserve your credit, build your credit back, and I think you'd be 756 01:05:23.360 --> 01:05:28.599 an excellent candidate. But but you have to really put the pencil to it. 757 01:05:29.199 --> 01:05:32.559 And Mark Massey, I think he's honest enough. I don't think I 758 01:05:32.599 --> 01:05:35.599 know's he's not going to tell you to get it if it's not going to 759 01:05:35.679 --> 01:05:41.159 do you any good. It's called suitability, but it's something you may want 760 01:05:41.199 --> 01:05:46.599 to consider, Okay, it's something you go ahead. My question would be 761 01:05:46.800 --> 01:05:55.039 like if you if I do a reverse loan on the house, then then 762 01:05:55.119 --> 01:06:00.719 I have a blended blended rate, right So no, no, no, 763 01:06:00.719 --> 01:06:03.320 no. What I'm saying is this is that you you have a blended rate. 764 01:06:03.400 --> 01:06:05.880 Now, so the only way to know what that is is you take 765 01:06:05.920 --> 01:06:10.039 your two point seventy five and add up to three other cards and divide it 766 01:06:10.079 --> 01:06:14.519 by four or yeah, or if you have three cards plus your loan and 767 01:06:14.559 --> 01:06:17.840 you divide it by four and get your arithmetic. Mean, that's what you're 768 01:06:17.880 --> 01:06:21.360 paying, that's what you that's what your blended rate is. And if you 769 01:06:21.440 --> 01:06:25.960 can get close to that, even if you're paying a tiny bit more on 770 01:06:26.000 --> 01:06:30.400 that blended rate. Your payment will be manageable because you can make it your 771 01:06:30.440 --> 01:06:32.920 payment or not make it. But the greatest part of this is you're not 772 01:06:32.960 --> 01:06:36.519 going to miss any more payments. You're going to build credit. And then 773 01:06:36.599 --> 01:06:41.360 what you have to do after that is decide what to do after that. 774 01:06:41.639 --> 01:06:44.639 Well, you can take a breather until you get a job, you can 775 01:06:44.679 --> 01:06:48.880 refinance it after that, whatever. But you it's it's a product that you 776 01:06:48.920 --> 01:06:53.559 can get without a lot of credit, and it will it will stop the 777 01:06:53.719 --> 01:06:57.320 bleeding, is what I'm saying. But I want to ask Mark Massy something 778 01:06:57.360 --> 01:07:00.519 straight up, Mark, what is the action cost of this? How much 779 01:07:00.599 --> 01:07:03.400 is he going to add? I mean, we know he's going to add 780 01:07:03.440 --> 01:07:06.480 something because there's going to be some points or something. If you had to 781 01:07:06.519 --> 01:07:11.360 put a price on it, and let's face it, on a five hundred 782 01:07:11.360 --> 01:07:14.800 thousand dollars equity, he's not looking for you know, at fifty five, 783 01:07:14.880 --> 01:07:16.559 he's not looking for a lot of money. But if he did like one 784 01:07:16.639 --> 01:07:20.880 hundred grand, let's say, buffer one hundred grand line of credit, how 785 01:07:21.000 --> 01:07:27.400 much are we talking about in cost? So the cost that I could walk 786 01:07:27.400 --> 01:07:30.440 you through is going to be real close SAHA. This is not an FAHA 787 01:07:30.559 --> 01:07:34.639 product. So if he doesn't have to pay the two percent of the appraised 788 01:07:34.719 --> 01:07:40.480 value of the home, so we're probably looking at about let's just call it 789 01:07:42.280 --> 01:07:45.280 three, let's call it, call it nine thousand dollars. Oh, correct, 790 01:07:45.320 --> 01:07:49.559 and we're going to be close with nine thousand dollars and nine thousand dollars. 791 01:07:49.599 --> 01:07:51.920 He didn't have to come out of pocket. That just rolls to the 792 01:07:51.960 --> 01:07:59.320 back of the loan, okay. But so his forty five turns into fifty 793 01:07:59.400 --> 01:08:03.239 four basically is his but he does a way. Like I said, you 794 01:08:03.400 --> 01:08:08.360 got to do the math here, al and look at your long term plan. 795 01:08:08.559 --> 01:08:12.039 Man, you really do. I'm not suggesting it will work. I'm 796 01:08:12.079 --> 01:08:15.440 just giving a suggestion on what to do. Mark, give out your phone 797 01:08:15.480 --> 01:08:18.439 number right now. Sure, my number is. You can just call me 798 01:08:18.520 --> 01:08:24.399 direct seven one three two five six four six seven six. I'm here in 799 01:08:24.439 --> 01:08:27.800 Colorado, and I'd like to help you do the math and walk through the 800 01:08:27.800 --> 01:08:30.760 different scenarios. And I do both reverse and forward. So if there's a 801 01:08:30.800 --> 01:08:34.239 better regular mortgage option, let's just look at it. It's going to be 802 01:08:34.279 --> 01:08:38.239 a math formula. You can kind of tell me what you want to do 803 01:08:38.439 --> 01:08:41.479 and maybe can you Can he get it right now? Can he get a 804 01:08:41.520 --> 01:08:44.880 second? But he can't get a second with that low rate? Could he 805 01:08:45.000 --> 01:08:48.079 with that low score? Yeah, the score starts to affect you on the 806 01:08:48.439 --> 01:08:53.159 front side. Even more so is his income. Give your number again? 807 01:08:53.199 --> 01:08:57.000 You have to give your number again. Seven one, three, two five, 808 01:08:57.119 --> 01:09:00.880 six four six seven now hold on, okay, thank you very much. 809 01:09:00.920 --> 01:09:06.159 Mark, go with a sure thing Denver's Best roofer Excel Roofing dot com. 810 01:09:06.199 --> 01:09:14.039 You don't pay a cent until you're content. Time for an insurance checkup 811 01:09:14.079 --> 01:09:17.479 free, no obligation. In comparison, call Compass Insurance paying too much your 812 01:09:17.479 --> 01:09:21.520 coverage at dozens of insurance companies find out now three all three seven to seven 813 01:09:21.560 --> 01:09:26.359 to one help. You'll think you're his only customer when you choose Frank durand 814 01:09:26.359 --> 01:09:30.800 the real estate Man dot com to list your home with Remax Alliance three oh 815 01:09:30.800 --> 01:09:38.880 three nine two zero sixteen twenty two. Hey Tom Martine here three three seven 816 01:09:38.920 --> 01:09:41.880 on three. I don't have a lot to Hannah. We will take you, 817 01:09:41.960 --> 01:09:45.079 I promise, but I need to go back to Al. Joe Canno, 818 01:09:45.359 --> 01:09:47.640 do you have any suggestions for Al? You heard a situation what do 819 01:09:47.720 --> 01:09:53.760 you think. You know, Tom, that's pretty uh you know, that's 820 01:09:53.800 --> 01:09:57.680 pretty common really. You know. My suggestion would be, you know that 821 01:09:57.760 --> 01:10:04.520 maybe uh either get I mean try to get a refinance and pay a higher 822 01:10:04.600 --> 01:10:08.800 rate. But I mean i don't see anybody that, uh, you know, 823 01:10:08.880 --> 01:10:13.760 I'm not sure there's slender stuff could actually offer, you know, some 824 01:10:13.760 --> 01:10:16.960 some kind of refinancing treadom for him. Now, when you let me ask 825 01:10:17.000 --> 01:10:21.720 you something, Joe, when you talk about getting people out of debt, 826 01:10:23.119 --> 01:10:26.640 like like, how do you guys do it? I mean, he's he's 827 01:10:26.640 --> 01:10:30.159 already pretty tapped out. So I'd like to talk about your plan where you 828 01:10:30.199 --> 01:10:32.920 have a plan to get people out of debt, and we can do that 829 01:10:33.039 --> 01:10:38.359 coming up after the break in general. But I'm gonna take Hannah after the 830 01:10:38.359 --> 01:10:41.199 break and then we'll go back to this because I like to know what that 831 01:10:41.239 --> 01:10:44.600 looks like. Now. He might be too far gone with what he's got 832 01:10:44.640 --> 01:10:48.159 going on right now, but I'd like to to tap your brain on it. 833 01:10:48.560 --> 01:10:53.520 I'm Tom Martinez three oh three seven, one three eight two five five 834 01:10:53.640 --> 01:10:59.000 more coming right up. Go with a sure thing Denver's best roofer excel roofing 835 01:10:59.079 --> 01:11:05.279 dot Com. You don't a cent until you're contenthave time for an insurance check 836 01:11:05.359 --> 01:11:10.359 up free, no obligation. In comparison, call Compass Insurance. Pay too 837 01:11:10.439 --> 01:11:14.359 much your coverage at dozens of insurance companies. Find out now three oh three 838 01:11:14.479 --> 01:11:17.239 seven seven to one help. You'll think you're his only customer when you choose 839 01:11:17.239 --> 01:11:21.680 Frank durand the real estate Man dot com to list your home with Remax Alliance 840 01:11:21.920 --> 01:11:34.680 three oh three nine two zero sixteen twenty two Ye ripped of news? Need 841 01:11:34.840 --> 01:11:42.640 that who you don't have? Come running as fast as you can. Show 842 01:11:42.840 --> 01:11:49.479 Shooter's gonna help. Come Man six is the Troubleshooter Show. Now Tom Martino, 843 01:11:50.520 --> 01:11:54.439 Hi, Tom Martino here, Welcome to the show. Three oh three 844 01:11:54.520 --> 01:11:58.520 seven one three talks seven one three eight two five five. I'm gonna go 845 01:11:58.600 --> 01:12:00.079 right to the phones and help you in any way I can. I just 846 01:12:00.119 --> 01:12:03.279 want to tell you that this hour brought to you by Frank Duran the real 847 01:12:03.399 --> 01:12:11.039 Estateman dot com for free market analyzes of your home. An analysis of your 848 01:12:11.119 --> 01:12:14.399 home. He will do it. He will take your home and put it 849 01:12:14.439 --> 01:12:18.640 out there as far as the comps the neighborhood supplying demand interest rates and tell 850 01:12:18.680 --> 01:12:23.319 you what you can reasonably expect to get on the market, especially with him 851 01:12:23.319 --> 01:12:27.479 at the helm. And it's a great learning experience free of charge if you're 852 01:12:27.520 --> 01:12:30.920 even thinking about selling your house. Three ZHO three nine two zero sixteen twenty 853 01:12:31.000 --> 01:12:38.640 two Frank Duran, the real Estateman dot com. All right, let's talk 854 01:12:38.920 --> 01:12:44.279 about your problems. Okay, I'm going to start with I believe Al. 855 01:12:44.359 --> 01:12:50.960 I want to finish up with AL and AL on your debt consolidation. Are 856 01:12:50.960 --> 01:12:56.680 you still there? Okay? I think that that is. You know, 857 01:12:56.720 --> 01:13:00.560 that's going to be an expensive option because you're adding nine grand in costs. 858 01:13:00.560 --> 01:13:02.640 Okay, I mean that's just the way it is. However, if you 859 01:13:02.800 --> 01:13:05.960 needed to keep that loan for a full year or two or as long as 860 01:13:06.039 --> 01:13:11.680 you want, you don't have to worry about it. Well, again, 861 01:13:11.840 --> 01:13:15.359 it's going to accrue interest and it's going to also eat up equity, but 862 01:13:15.960 --> 01:13:21.279 you can also make payments on it if you want to maintain equity. But 863 01:13:21.600 --> 01:13:28.000 here's what I'm thinking, I would never suggest it under your circumstances. Normally, 864 01:13:28.439 --> 01:13:32.199 if you could get a home equity loan, so you might want to 865 01:13:32.239 --> 01:13:36.840 see you might want to see what a home equity loan would you know, 866 01:13:36.920 --> 01:13:42.159 with your low credit, if someone would do a higher rate and take more 867 01:13:42.239 --> 01:13:45.840 risk with that, and then it might turn out to be cheaper. Let's 868 01:13:45.840 --> 01:13:50.479 say someone would do that for you for lower points. Let's say somebody would 869 01:13:50.560 --> 01:13:56.119 do a second, a peer to peer lender would do a second on your 870 01:13:56.119 --> 01:14:00.600 home, and they would charge you instead of all that you know, nine 871 01:14:00.640 --> 01:14:03.439 grand, let's say three three or four thousand dollars or two thousand or what, 872 01:14:03.680 --> 01:14:10.720 and then a substantial rate even but but but what it would be even 873 01:14:10.760 --> 01:14:14.239 if they charge you eight percent, you still have your two point seventy five 874 01:14:14.239 --> 01:14:16.800 percent on your house, and then you get a small equity loan just to 875 01:14:16.880 --> 01:14:19.640 pay off what you need to. You might want to go. I don't 876 01:14:19.680 --> 01:14:24.840 know how. I don't know anything about peer to peer lending al but I 877 01:14:24.880 --> 01:14:30.479 do know people do it. Okay, again, that is something you may 878 01:14:30.520 --> 01:14:33.920 want to look into. It's called peer to peer lending. I will check 879 01:14:33.960 --> 01:14:40.720 that out, and I know, I don't know. I could talk to 880 01:14:40.760 --> 01:14:44.159 my credit unions and see if they do that. I kind of yeah, 881 01:14:44.319 --> 01:14:46.520 they I don't think with your score, but you can talk to them. 882 01:14:46.560 --> 01:14:50.319 Nothing wrong with it. But but I wouldn't refin if I didn't have to 883 01:14:50.359 --> 01:14:56.680 refly that first. I wouldn't. I don't want to refly. That's going 884 01:14:56.760 --> 01:15:04.960 to be a you know how much you are on that first probably about three 885 01:15:05.079 --> 01:15:10.039 hundred and sixty, So you're saying your house is worth over eight hundred. 886 01:15:10.960 --> 01:15:15.520 Yeah, Okay, listen out, just tread lightly. Call me with any 887 01:15:15.520 --> 01:15:20.199 advice you need. But at least you're starting to look for ways to get 888 01:15:20.199 --> 01:15:26.680 out of this mess. And you do, you do. I have to 889 01:15:26.720 --> 01:15:30.640 look for ways out of this mess. And I would try to get a 890 01:15:30.720 --> 01:15:34.359 peer to peer second. That's probably my first option. Try to get a 891 01:15:34.439 --> 01:15:39.640 second and where they're not going to rob you. But then you're going to 892 01:15:39.720 --> 01:15:43.199 have to have a prospect for getting a job or doing something. You're not 893 01:15:43.279 --> 01:15:46.880 gonna you know, it's just going to kick the ball down down the street 894 01:15:47.000 --> 01:15:50.760 right now. But what you have to do is look for a longer term 895 01:15:50.800 --> 01:15:55.640 plan. Okay, let's go back to the phones. Now. It is 896 01:15:55.720 --> 01:16:01.159 Hannah's Hannah, go ahead, Hannah, what's happening? Hello, Hi, 897 01:16:01.239 --> 01:16:06.720 Hannah, what's happening? Hi? Tom? So, my car was toad 898 01:16:06.840 --> 01:16:13.439 on the thirtieth of May by this Toad company down here in Colorado Springs. 899 01:16:14.439 --> 01:16:18.880 It was toad because they were painting the parking lot the next morning and my 900 01:16:19.039 --> 01:16:25.960 husband had parked there unknowing that is it in your apartment complex? Yeah it 901 01:16:26.079 --> 01:16:30.039 is, okay, And so were their notices put out and all that, 902 01:16:30.279 --> 01:16:32.319 because usually they do it the right way. Usually they do it the right 903 01:16:32.319 --> 01:16:36.640 way. So you're not contesting the reason, are you? No? No, 904 01:16:36.720 --> 01:16:40.640 I'm not contesting why it was told? Okay, got it? So 905 01:16:40.680 --> 01:16:44.960 what are you contell? What are you calling about then? So it's a 906 01:16:45.000 --> 01:16:48.199 whole big thing. So they towed my car, not contesting why it was 907 01:16:48.239 --> 01:16:53.720 toad. I called I'd say an hour after it was toad it toad at 908 01:16:53.720 --> 01:16:58.199 seven thirty three in the morning. We called within the hour, maybe an 909 01:16:58.199 --> 01:17:00.439 hour and a half because I had to go to work that morning. The 910 01:17:00.560 --> 01:17:05.039 car. They said that we could come pick the car up and pay two 911 01:17:05.159 --> 01:17:09.560 fifty to get it or three hundred for them to come drop it back off. 912 01:17:10.079 --> 01:17:13.000 So we went up there to get that's me, that's very that's very 913 01:17:13.039 --> 01:17:18.239 reasonable by today's standards. Yeah, that's reasonable. So I had no problem 914 01:17:18.279 --> 01:17:23.399 paying for the toe by the way, no problem. So we went up 915 01:17:23.439 --> 01:17:25.840 there, My mom and my husband went up there because I was at work 916 01:17:25.960 --> 01:17:29.680 to pick up the car. They get there, the car's not there. 917 01:17:30.800 --> 01:17:32.880 Now this is by that time, two hours after it had been toed. 918 01:17:33.439 --> 01:17:40.319 The car's not there. So they sat around and waited and waited and waited 919 01:17:40.600 --> 01:17:44.720 with no answers. There were other cars coming that had been told from the 920 01:17:44.720 --> 01:17:47.960 same apartment car, Where was your car? That's what I'm saying, Where 921 01:17:48.039 --> 01:17:55.439 was my car? So? But get this, they didn't show up until 922 01:17:55.560 --> 01:18:00.399 or they didn't end up telling us until afternoon where the car was. So 923 01:18:00.640 --> 01:18:04.279 at around twelve thirty noon they come and say, my car's been in an 924 01:18:04.359 --> 01:18:10.920 accident. What but yeah, yeah, but no, wait wait, wait, 925 01:18:10.960 --> 01:18:15.039 wait, Hannah, Hannah, Hannah. It was towed into this yard. 926 01:18:15.760 --> 01:18:18.319 How did it get into an accident? That's what I'm saying. So 927 01:18:18.479 --> 01:18:23.560 it was towed at seven thirty three in the morning. At noon they tell 928 01:18:23.640 --> 01:18:28.000 us it's been in at like twelve thirty almost one, they say, it's 929 01:18:28.039 --> 01:18:32.920 been in an accident, But the accident didn't happen until noon. So where 930 01:18:32.960 --> 01:18:39.920 were they with my car from seven thirty three in the morning until twelve o'clock 931 01:18:40.079 --> 01:18:43.600 in the afternoon? But what kind of an accident? Tell me about the 932 01:18:43.720 --> 01:18:46.399 accident? Like like what do they mean? And was someone driving it? 933 01:18:47.640 --> 01:18:51.640 No, so the toe come, the toe driver got in the car accident 934 01:18:51.720 --> 01:18:57.880 with my car on his toe Okay, but they what was he driving around 935 01:18:57.880 --> 01:19:01.039 with it all morning? Yes, from seven point thirty three in the morning 936 01:19:01.159 --> 01:19:06.840 until noon that afternoon on a one car tow bed. So there's no reason 937 01:19:06.880 --> 01:19:10.880 why. I mean, I could understand if he was towing other cars, 938 01:19:11.560 --> 01:19:15.279 but it's a one bed. It's a one car toe bed, so he 939 01:19:15.279 --> 01:19:18.760 couldn't have been towing anyone else. So how what happened to your truck to 940 01:19:18.800 --> 01:19:26.319 your car? So when the car when the tow truck rammed or hit the 941 01:19:26.399 --> 01:19:33.199 other car, my car flew backwards into the pole that holds the the toe 942 01:19:33.319 --> 01:19:39.119 rig thing. So it the back of my car wrapped around that pole. 943 01:19:40.800 --> 01:19:45.119 What are they going to do about it? They got insurance, so that's 944 01:19:45.159 --> 01:19:49.640 the thing. They won't give me their insurance. All right, this is 945 01:19:49.720 --> 01:19:54.960 ridiculous. Hold on, Hold on, hold on, this is absolutely what's 946 01:19:55.000 --> 01:20:00.079 the name of the toe company. It's called toe Pros LLC, Colorado Springs 947 01:20:00.079 --> 01:20:04.880 And by the way, through the Better Business Bureau website, it says they 948 01:20:04.880 --> 01:20:11.399 have an F rating. They're not Better Business bureau accredited and they don't have 949 01:20:11.520 --> 01:20:19.399 licensing. Oh oh uh oh uh oh, they probably don't have insurance or 950 01:20:19.439 --> 01:20:27.880 anything. That's what I'm saying. So I called the apartment complex an apartment 951 01:20:28.199 --> 01:20:32.159 complex man or the own whatever. The property manager, who I've never spoken 952 01:20:32.199 --> 01:20:36.239 to before, says that they do have insurance. He assures me they have 953 01:20:36.319 --> 01:20:41.520 insurance, but because of what happens, they want to pay for it out 954 01:20:41.560 --> 01:20:46.439 of pocket. Because they want to pay for it out of pocket, because 955 01:20:46.520 --> 01:20:50.640 how much damage do you have? Have you had it assessed? Yeah, 956 01:20:50.680 --> 01:20:54.840 So that's what I'm trying to get to. So the they say they want 957 01:20:54.840 --> 01:21:00.079 to pay for it out of pocket because they don't want their their insurance rape. 958 01:21:00.279 --> 01:21:04.199 Okay, got it? How much damage? So they told it to 959 01:21:04.239 --> 01:21:10.359 an autobody shop. Thisll just tell me how much damage right now? Well, 960 01:21:10.720 --> 01:21:14.520 so there's it's. I think it was like twenty five hundred dollars for 961 01:21:14.600 --> 01:21:16.640 the damage to the back of the car. But because they won't give me 962 01:21:16.680 --> 01:21:20.960 their insurance information or anything, I mean, I'm thinking it probably should have 963 01:21:20.960 --> 01:21:27.000 been totaled out. Well, what year is your car? It's a twenty 964 01:21:27.079 --> 01:21:31.399 nineteen fourd escape. Okay, first of all, you shouldn't let them get 965 01:21:31.399 --> 01:21:35.239 it estimated. You need to do it. Do you have insurance? Oh? 966 01:21:38.159 --> 01:21:41.079 Yeah? So but here's the thing though, they towed it to the 967 01:21:41.239 --> 01:21:45.520 autobody shop, and the autobody guy has it. So then they were calling 968 01:21:45.560 --> 01:21:49.479 me telling me they were going to give me a loaner car because this has 969 01:21:49.520 --> 01:21:55.359 already happened. This was May, May thirtieth that all this happened. So 970 01:21:55.760 --> 01:21:58.479 they said they want to give me a loaner car, they'll get the car 971 01:21:58.600 --> 01:22:01.640 fixed and all this. So then they call back a couple hours later they 972 01:22:01.800 --> 01:22:05.000 now they don't want to because the loaner car that they were going to give 973 01:22:05.079 --> 01:22:11.439 me was I guess the owner of the toe company's car. Hey, Hannah, 974 01:22:11.840 --> 01:22:15.520 Hannah, listen, Hannah, these guys are just screwing you guys royally. 975 01:22:15.960 --> 01:22:21.239 Now hold on, I mean you need to do you have insurance? 976 01:22:24.199 --> 01:22:28.760 Yeah? I do have insurance. You need to send your insurance guy over 977 01:22:28.840 --> 01:22:32.600 there to assess the adjuster to find out how much damage there is. And 978 01:22:32.640 --> 01:22:36.439 you need to put an acclaim with your insurance and let them fight their insurance. 979 01:22:36.800 --> 01:22:42.800 That's what you need to do. Yeah, but I'm I'm I'm already 980 01:22:42.960 --> 01:22:45.960 I'm already way screwed past that point. Well, what do you mean screwed? 981 01:22:45.960 --> 01:22:49.680 Did they take it apart and start fixing it? Yeah, they've already 982 01:22:49.680 --> 01:22:55.279 started fixing it. And and what hold on a second, and what kind 983 01:22:55.319 --> 01:22:58.920 of repair job are they going to do? What if this toe company is 984 01:22:58.960 --> 01:23:04.239 good friends with the body shop and they're gonna screw you, Well, you 985 01:23:04.319 --> 01:23:10.800 can't let that happen. Send your insurance person over, or send an expert 986 01:23:10.840 --> 01:23:15.600 over that you know and trust. You can't let these people do it without 987 01:23:15.760 --> 01:23:23.920 checking. Are you listening, Hannah? Yeah? I am. I just 988 01:23:24.079 --> 01:23:27.319 you gotta let this. Hannah. You need an expert on your side. 989 01:23:27.399 --> 01:23:29.960 I don't care who it is. You need to hire someone to look at 990 01:23:29.960 --> 01:23:34.319 that car. Now, here's the next thing. Okay, you say they 991 01:23:34.720 --> 01:23:39.119 started fixing it, what have you been doing for another car so far? 992 01:23:40.560 --> 01:23:44.199 So that's what they said. So they said that they'd get me a rental 993 01:23:44.239 --> 01:23:45.920 car, but they didn't, did they Or did they? Yes? Or 994 01:23:45.920 --> 01:23:49.760 no? Did you get a replacement car? They did give me a rental, 995 01:23:49.960 --> 01:23:55.840 but they would not put the rental under their like, they would not 996 01:23:56.079 --> 01:24:00.640 put it under their insurance. So they were cashapping me the money for the 997 01:24:00.640 --> 01:24:05.159 rental car. So the rental car is under my name through they were sending 998 01:24:05.159 --> 01:24:09.039 me money through cash app for the PRIs. You are you know, Hannah, 999 01:24:09.239 --> 01:24:13.479 you handled this all wrong? So right now? Did they stop making 1000 01:24:13.479 --> 01:24:17.319 payments on the rental? Yeah, they did over the weeks as of Friday. 1001 01:24:17.760 --> 01:24:24.159 Why I so Friday came around. This is a thing. They said 1002 01:24:24.199 --> 01:24:29.880 my car would be ready on Friday to pick up, so then they only 1003 01:24:29.920 --> 01:24:34.039 had extended the rental through the fourteenth. So Friday came around. I called 1004 01:24:34.119 --> 01:24:38.600 the auto body shop. He says that he told them the car was ready 1005 01:24:38.960 --> 01:24:43.000 at eleven am, and then they stopped contacting him after he told them the 1006 01:24:43.000 --> 01:24:46.239 car was ready. So they're not going to pay for the car. Well, 1007 01:24:46.279 --> 01:24:49.520 they already put a deposit to the guy because the guy said he wasn't 1008 01:24:49.560 --> 01:24:54.960 going to do a work on it unless they paid him a deposit first. 1009 01:24:56.000 --> 01:25:02.399 How much is owed on it? I think probably half of the three hundred. 1010 01:25:02.840 --> 01:25:10.279 These guys sound like These guys sound like scumbags, Yeah they are. 1011 01:25:10.439 --> 01:25:15.000 So then I did some research over the weekend, like looking at reviews, 1012 01:25:15.039 --> 01:25:19.960 and that's how I found out about the Better Business Bureau accreditation and stuff. 1013 01:25:20.800 --> 01:25:25.680 I don't care about the Better Business Bureau. Okay that that's the last thing 1014 01:25:25.720 --> 01:25:30.479 on my mind, because the Better Business Bureau is a is a dinosaur organization 1015 01:25:30.640 --> 01:25:35.520 with no credibility whatsoever. They're just they're during ancient organization. Their credit, 1016 01:25:35.720 --> 01:25:43.800 their accreditation means absolutely nothing, absolutely nothing. Did you do any research on 1017 01:25:43.840 --> 01:25:47.479 the auto body shop? Well? What about you know they took it there, 1018 01:25:47.840 --> 01:25:54.319 not her, so what research would But they're I'm just curious if they 1019 01:25:54.399 --> 01:25:59.359 have a good reputation that they do have a good reputation the auto body shop. 1020 01:25:59.399 --> 01:26:01.279 I've talked to the guy who owns the auto body shop, he's the 1021 01:26:01.319 --> 01:26:08.079 one working on the car. He's he's he does have a good reputation. 1022 01:26:08.640 --> 01:26:13.439 But what about the fact that it says that they're licensing is they don't? 1023 01:26:13.560 --> 01:26:16.680 They have nothing? Well, what's the state doing about it? I don't 1024 01:26:16.720 --> 01:26:23.239 know if the Department of Regulatory Agencies Dora. They haven't obtained licensing through them. 1025 01:26:23.960 --> 01:26:27.720 Okay, you need to contact and put in a complaint, did you? 1026 01:26:29.319 --> 01:26:31.319 Yeah, So that's the thing. When I tried calling Friday, they 1027 01:26:31.319 --> 01:26:33.800 weren't open. So I was planning on doing that today, putting in a 1028 01:26:33.840 --> 01:26:38.560 complaint through them, because what I ended up doing Friday night was contacting the 1029 01:26:38.560 --> 01:26:43.439 police. But at this point, because of the I guess agreement that I've 1030 01:26:43.439 --> 01:26:46.239 had with them, they the police said it's the civil matter at this point, 1031 01:26:46.279 --> 01:26:50.119 which I understand. I was expecting that it is. Listen, here's 1032 01:26:50.119 --> 01:26:54.199 what we have to do. I need to put somebody on. This is 1033 01:26:54.199 --> 01:27:00.359 Deputy Bow there, We've got Deputy jock In and we do have Deputy Bow 1034 01:27:00.720 --> 01:27:04.039 as well. Yeah, Deputy Bow. I want to because I think Doc 1035 01:27:04.079 --> 01:27:11.760 said he was working on to already. Is that right? And I mean 1036 01:27:11.840 --> 01:27:17.159 the the the reviews about this toe company are just outrageous. Like the Toner 1037 01:27:17.359 --> 01:27:23.159 that's the owner, Tony. I guess he just screams racial slurs at people. 1038 01:27:23.279 --> 01:27:28.359 He's gotten arrested at toe site before. He's They've done this to multiple 1039 01:27:28.439 --> 01:27:31.199 cars, have caused damage and recked multiple cars, and then they just go 1040 01:27:31.359 --> 01:27:35.079 no contact. Hannah. I just wait, I have a question. The 1041 01:27:35.640 --> 01:27:40.119 body shop said it's gonna be ready on Friday. What happened? Did you 1042 01:27:40.159 --> 01:27:44.960 go to pick it up? So they wouldn't let me pick it up on 1043 01:27:45.039 --> 01:27:50.359 Friday because they hadn't been paid for So he's telling me, but hold on, 1044 01:27:50.600 --> 01:27:54.279 is it done right now? Hannah, is it done right? Now? 1045 01:27:54.319 --> 01:27:57.960 It's done, It's done. Yes. So you know, I've been 1046 01:27:57.960 --> 01:28:00.560 in contact with the terry as a while. We've been on the phone, 1047 01:28:01.079 --> 01:28:05.800 and he's telling me that he contacted them this morning and that they said they 1048 01:28:05.800 --> 01:28:10.000 would call and pay him was a credit card. So I don't know, 1049 01:28:10.279 --> 01:28:12.560 all right. I got to say, hold on, hold on, hold 1050 01:28:12.640 --> 01:28:16.039 on, Deputy Bow, call these people, call these clowns. I want 1051 01:28:16.039 --> 01:28:20.359 to assign it to Bow unless Bo is slammed. But I don't think he 1052 01:28:20.439 --> 01:28:23.680 is right now. I'm not sure. I'm trying to keep track here, 1053 01:28:24.159 --> 01:28:34.800 Okay. Three oh three seven one three eight two five five go with a 1054 01:28:34.840 --> 01:28:40.199 sure thing Denver's best roofer Excel Roofing dot com. You don't pay a cent 1055 01:28:40.399 --> 01:28:46.920 until you're content. Time for an insurance checkup free, no obligation in comparison, 1056 01:28:47.039 --> 01:28:51.920 call Compass Insurance Paying too much your coverage at dozens of insurance companies find 1057 01:28:51.920 --> 01:28:56.119 out now three oh three seven to seven to one help. You'll think you're 1058 01:28:56.159 --> 01:29:00.000 his only customer when you choose Frank durand the Real estate Man dot com. 1059 01:29:00.199 --> 01:29:06.199 List your home with Remax Alliance three oh three nine two zero sixteen twenty two 1060 01:29:10.000 --> 01:29:14.319 Hi, Tom Martino, you're a troubleshooter. Three all three seven to one 1061 01:29:14.399 --> 01:29:18.479 three talk three oh three seven one three eight two five five. Okay, 1062 01:29:19.600 --> 01:29:29.680 So Butch, what's going on with you? Butch? Hey? But what's 1063 01:29:29.720 --> 01:29:32.880 going on? Hey? Man? How you doing? By the way, 1064 01:29:32.880 --> 01:29:35.479 what do you get up on a weekend? You have a good weekend? 1065 01:29:36.239 --> 01:29:43.000 Father's Day celebration. I I was the father's day, first Father's Day for 1066 01:29:43.119 --> 01:29:46.680 me. Oh that's very cool. That's howlds your holds your baby? Then 1067 01:29:46.800 --> 01:29:51.640 less than a year obviously, right, three months? Almost a three months 1068 01:29:51.680 --> 01:29:59.119 and he is a very very smart somebody. Oh he's even smarter than daddy 1069 01:29:59.159 --> 01:30:01.560 already. I say, come on, that's a little too much. So 1070 01:30:01.680 --> 01:30:08.560 what's going on? Man? So I was wondering, I'm going on the 1071 01:30:08.560 --> 01:30:15.039 internet a lot on there. Yeah, yeah, and I'll be looking at 1072 01:30:15.359 --> 01:30:19.119 for a for a product. What are you looking at? A mousepad? 1073 01:30:19.279 --> 01:30:24.199 Mousepad? I want to get a mousepad. I don't know what's the best 1074 01:30:24.239 --> 01:30:27.880 mousepad. Which one is the best mousepad? How do a mousepad? And 1075 01:30:28.039 --> 01:30:30.760 you click a mousepad? Yes, sir, I say take a gamble? 1076 01:30:30.840 --> 01:30:36.119 Shit, okay, well I don't gamble, sir. I'd like to be 1077 01:30:36.279 --> 01:30:40.479 very serious about what are they? Fifteen dollars? If that? How much 1078 01:30:40.520 --> 01:30:46.199 are they? One of them has cost three hundred a mousepad. Yeah, 1079 01:30:46.199 --> 01:30:50.239 it's got a special tracking technology. And come on, man, come on, 1080 01:30:50.279 --> 01:30:55.520 okay, give your entire desk with led a mousepad for goodness sake. 1081 01:30:55.640 --> 01:31:00.199 I mean I thought you're talking about just like a little rubber eyed mousepad. 1082 01:31:00.199 --> 01:31:02.840 Well I could be. And what's the other guy off of cam? He 1083 01:31:02.960 --> 01:31:06.159 said? The interesting thing? Oh, the whole desk. There's a very 1084 01:31:06.199 --> 01:31:10.119 big one as well that you can put a whole your whole desk is a 1085 01:31:10.159 --> 01:31:15.960 mousepad that costs a lot more than twelve dollars. Now the mouse pads. 1086 01:31:15.000 --> 01:31:19.520 I just went on Amazon and I put mousepad down. They got one with 1087 01:31:19.560 --> 01:31:23.920 a risk guard for eight bucks. They got nine dollars. They have a 1088 01:31:24.079 --> 01:31:26.840 seven sixty five. I mean, I don't know what the hell you're looking. 1089 01:31:26.920 --> 01:31:30.880 I don't tracking technology? Does that have tracking technology? Well? Hold 1090 01:31:30.920 --> 01:31:32.239 on, what kind of mouse do you have? Optical? Or is it? 1091 01:31:32.399 --> 01:31:38.640 Is it the little ball on the bottom? Oh can you imagine? 1092 01:31:38.720 --> 01:31:40.960 It's a no? No, what kind of mouse do you play this? 1093 01:31:41.119 --> 01:31:45.119 Gamer? Bro? What kind of mouse do you have? I have an 1094 01:31:45.119 --> 01:31:47.319 optical mouse. They don't even make the role. Oh okay, good, 1095 01:31:47.359 --> 01:31:50.359 I didn't know that. Okay, right, optic, So now you have 1096 01:31:50.880 --> 01:31:55.880 Yeah, are you a serious gamer? Good question, Greg, great question. 1097 01:31:56.000 --> 01:31:59.399 Yes, I'm a very serious gamer. And the book big game I 1098 01:31:59.439 --> 01:32:08.119 play is Lazier Suit Larry. Now I'm looking at advanced technology here, but 1099 01:32:08.279 --> 01:32:12.119 come on, truly, what is some of your fellow game serious? Is 1100 01:32:12.119 --> 01:32:15.000 what kind of machine you're running for? Leisure shut, Larry, leisure shut 1101 01:32:15.039 --> 01:32:20.680 Larry. Well, I got a Penteum three that I'm running an original version 1102 01:32:20.720 --> 01:32:25.720 of leisure Suit Larry, the original one from a Then I wouldn't worry too 1103 01:32:25.760 --> 01:32:28.359 much about a mouse pad. It's not going to up your game, bro. 1104 01:32:28.640 --> 01:32:31.520 Come on. But my big question is when you go to one of 1105 01:32:31.520 --> 01:32:34.239 these sites, how do you know this is a serious question? How do 1106 01:32:34.279 --> 01:32:36.640 you? Okay? God? Because they have all these sights and they say 1107 01:32:36.760 --> 01:32:40.640 go ahead, oh this is the best one. They have them all listed 1108 01:32:40.680 --> 01:32:43.560 out, but they seem like ads a lot of them. Is there like 1109 01:32:43.600 --> 01:32:46.279 a real place for consumer, like an actual site that is good? I 1110 01:32:46.520 --> 01:32:50.079 like this. Okay, here's what I do seriously, on a serious note, 1111 01:32:50.159 --> 01:32:55.520 here's what I do on Amazon. If you go to the reviews. 1112 01:32:55.560 --> 01:33:00.319 You're gonna get some honest reviews. You really are, okay, so Amazon 1113 01:33:00.359 --> 01:33:03.439 reviews is good. What I do is, for example, let me see 1114 01:33:03.479 --> 01:33:09.640 what's the name of the one you're looking at, the witch, the mouthpad, 1115 01:33:10.159 --> 01:33:12.279 the one that was really expensive just for the heck of it. I 1116 01:33:12.279 --> 01:33:15.800 want to see what the reviews are. Go ahead, Oh, I have 1117 01:33:15.880 --> 01:33:16.880 to pull it up. Now, let me pull it up the moment, 1118 01:33:16.920 --> 01:33:20.640 Yeah, pull it because here's what I do. Now, Now a dragon, 1119 01:33:20.680 --> 01:33:26.079 have you done that? Have you gone on and looked at the actual 1120 01:33:26.119 --> 01:33:29.439 people's purchased it, or they have questions, you know? And I try 1121 01:33:29.439 --> 01:33:32.199 to stay away from the guys that all all five stars, all one stars. 1122 01:33:32.239 --> 01:33:34.560 Try and find the medium guys, because then those are the ones are 1123 01:33:34.560 --> 01:33:39.880 a little bit more honest about everything that's right, that's true, or beware 1124 01:33:40.119 --> 01:33:42.960 of if they're all five stars, you get a few one or two, 1125 01:33:43.000 --> 01:33:45.760 I don't care. But if you get a bunch of bad ones and then 1126 01:33:45.760 --> 01:33:47.960 all of a sudden a few good ones, that's a really bad algorithm right 1127 01:33:48.000 --> 01:33:53.119 there. But I just want to know because I go on here and you 1128 01:33:53.279 --> 01:33:57.159 have all kinds of ratings, but you really read them, and you can 1129 01:33:57.199 --> 01:34:00.399 see, they're not all they're they're pretty genuine. I mean, you can 1130 01:34:00.479 --> 01:34:05.720 actually see it. If so, you get enough people responding and talking about 1131 01:34:05.800 --> 01:34:10.800 your, uh the product, you're gonna get some honesty there. You really 1132 01:34:10.840 --> 01:34:15.079 will, so I appreciate it. Tom. Do you have the name? 1133 01:34:15.239 --> 01:34:16.600 Do you have the name of yours? I'm just curious right now. The 1134 01:34:16.680 --> 01:34:23.039 expensive one this one here that I'm looking at as a charging one though, 1135 01:34:23.039 --> 01:34:29.239 it's the Alti Ultra Fast wireless charging desk. It's a full moustpad covers the 1136 01:34:29.239 --> 01:34:32.720 whole desk, charges up products as well. Oh okay, that's okay, 1137 01:34:32.760 --> 01:34:39.439 that's a whole different ballgame. Okay, okay, but listen, if you 1138 01:34:39.560 --> 01:34:43.159 go, even if you don't buy on Amazon. By the way, if 1139 01:34:43.199 --> 01:34:45.720 you don't go the Amazon, yeah I don't, Well, okay, but 1140 01:34:45.800 --> 01:34:50.439 you can. But it's still a great place to go for the reviews. 1141 01:34:50.760 --> 01:34:57.199 I'm looking on here though, I can't find anything expensive on any of these. 1142 01:34:57.720 --> 01:35:04.000 I mean, I'm luxury mousepad. It's a black leather two and call 1143 01:35:04.279 --> 01:35:08.439 Lee. You know, there's a whole bunch of people that don't even use 1144 01:35:08.479 --> 01:35:11.000 mousepads. They just go straight on top of the desk and it works. 1145 01:35:11.079 --> 01:35:14.640 No I would never do that. Desk. Tell me you're telling me people 1146 01:35:14.760 --> 01:35:19.720 hitting a raw dog. Yep, thanks for that call, all right, 1147 01:35:19.760 --> 01:35:25.960 man, thank you. Yeah, you tell them they're hitting it raw dog. 1148 01:35:27.439 --> 01:35:31.039 Come on, you hitting a raw dog. Got three mouse four mouses 1149 01:35:31.119 --> 01:35:34.000 right in front of me, and none of them have a mousepad. Tom 1150 01:35:34.119 --> 01:35:38.199 is fine for us. You know, I'm an atheist. I'm gonna say 1151 01:35:38.199 --> 01:35:42.119 a prayer for his son because I think he's gonna need it. Yeah, 1152 01:35:42.279 --> 01:35:45.920 okay. By the way, I don't know why he had to make that 1153 01:35:45.159 --> 01:35:49.239 plane to everybody he meets in the world, but people just deal with it. 1154 01:35:49.279 --> 01:35:51.760 What you want. I'm Tom Martine. We have more coming up. 1155 01:35:57.720 --> 01:36:00.760 Go with a sure thing Denver's Best roof for Excel Roofing dot com. You 1156 01:36:00.800 --> 01:36:08.960 don't pay a cent until you're content. Time for an insurance checkup free no 1157 01:36:09.039 --> 01:36:15.000 obligation comparison call Compass Insurance paying too much your coverage at dozens of insurance companies 1158 01:36:15.079 --> 01:36:17.520 find out now three all three seven seven to one help. You'll think you're 1159 01:36:17.520 --> 01:36:21.439 his only customer when you choose Frank durand the Real estate Man dot com to 1160 01:36:21.520 --> 01:36:27.239 list your home with Remax Alliance three all three nine two zero sixteen twenty two. 1161 01:36:30.840 --> 01:36:35.600 Hi Tom Martino, you're troubleshooter one texture at five seven seven three nine 1162 01:36:35.600 --> 01:36:41.880 wants to know why Tesla drivers get away with no front license. First, 1163 01:36:41.880 --> 01:36:46.359 of all, front license plates are raising our carbon footprint. We don't need 1164 01:36:46.399 --> 01:36:50.479 to make extra plates. All you need is a rare license plate. So 1165 01:36:51.039 --> 01:36:58.319 if you're of the Church of Climate change, then you need to urge states 1166 01:36:58.359 --> 01:37:00.640 to go with one. License plates. Just don't look right with a front 1167 01:37:00.640 --> 01:37:06.600 plate. All right, Leo, what's going on? Hi Leo? Oh? 1168 01:37:08.119 --> 01:37:13.520 Wow, my? A few years ago, my daughter's driving her nineteen 1169 01:37:13.560 --> 01:37:16.920 eighty nine Shivvy suv ye. Okay, well intin. She just got off 1170 01:37:16.960 --> 01:37:23.199 the streetway. Did you say an eighty nine? Did you say a nineteen 1171 01:37:23.439 --> 01:37:30.520 eighty nine? Yes? Okay, go ahead? A few years ago? 1172 01:37:30.239 --> 01:37:38.840 How many years ago? Okay? Gotcha, sir, gotcha? Okay, 1173 01:37:39.399 --> 01:37:43.159 yeah, and a parking lot. She backed up a couple of feet and 1174 01:37:43.239 --> 01:37:47.840 the left front top wheel assembly fell, came off and laid down on the 1175 01:37:47.880 --> 01:37:51.079 pavement. I don't know how many miles were on it then, how many 1176 01:37:51.119 --> 01:37:58.479 miles on it? Oh? I don't know. But that doesn't happen to 1177 01:37:58.520 --> 01:38:02.840 any car. But the Shivvy. The mechanic says the upper A arm. 1178 01:38:03.960 --> 01:38:10.439 And then we got that replaced, and she got a nineteen ninety nine uh 1179 01:38:11.079 --> 01:38:17.119 vy and that started shaking got very loose, Sam Willa. Shaking has pulled 1180 01:38:17.159 --> 01:38:21.079 over. And so you're calling now you're calling about a different one. Right, 1181 01:38:21.079 --> 01:38:24.359 you're not calling about the eighty nine. What do you what are you 1182 01:38:24.399 --> 01:38:30.319 calling about today? The ninety eight or what year is it' It was the 1183 01:38:30.399 --> 01:38:36.079 ninety nine. I'm talking about General Motors since nineteen sixties. I've got two 1184 01:38:36.119 --> 01:38:41.920 other cars the same way has had this problem for the upper A arm. 1185 01:38:42.319 --> 01:38:46.600 And what when you say the upper When you say the upper A arm, 1186 01:38:47.199 --> 01:38:50.640 what are you actually referring to? What part? I've not heard it called 1187 01:38:50.600 --> 01:38:57.600 the upper A arm. I haven't either, But it's what the hill assembly 1188 01:38:57.680 --> 01:39:01.560 fastens onto. Okay, you build the junkyard. Look in the chivy section. 1189 01:39:02.039 --> 01:39:06.199 Do you see those front wheels over the forty five good angle? I 1190 01:39:06.279 --> 01:39:12.159 counted twenty three of them as pick you apart, no forge, no dodgers, 1191 01:39:12.399 --> 01:39:15.000 nobody's jail. Oh, I get it. So you're saying that General 1192 01:39:15.119 --> 01:39:21.199 Motors has and it actually, by the way, it actually is called an 1193 01:39:21.279 --> 01:39:27.439 upper a arm. It's a control arm, and I looked it up, 1194 01:39:27.800 --> 01:39:30.600 and so they actually do call it that. I just never heard it anyway. 1195 01:39:30.800 --> 01:39:36.920 So you're saying that General Motors has a problem, a known problem or 1196 01:39:36.960 --> 01:39:43.000 is it something they're not talking about. Well, it's something they're not talking 1197 01:39:43.000 --> 01:39:46.560 about. But I had a nineteen sixty seven Chivy did that, So they've 1198 01:39:46.600 --> 01:39:51.039 had this for forty years. Okay, but how about this, let's get 1199 01:39:51.079 --> 01:39:55.560 into this century, because you haven't talked about a twenty twenty or newer. 1200 01:39:56.520 --> 01:40:03.760 Is what about now? Do they problems now? Well? I don't care 1201 01:40:03.800 --> 01:40:08.680 about now. I'm talking That day came within about two minutes of killing my 1202 01:40:08.800 --> 01:40:14.520 daughter. She is on the freeway just before that happened. Yeah, but 1203 01:40:15.199 --> 01:40:20.680 there's so many variables like how was it taken care of? How many miles 1204 01:40:20.760 --> 01:40:26.119 on it? There's so many things, and and if they've had a problem, 1205 01:40:26.279 --> 01:40:31.520 I can't find it. Go to your local, pick your part, 1206 01:40:31.760 --> 01:40:35.279 go to the Chevy section. Okay. I want to call Kevin hold on 1207 01:40:35.319 --> 01:40:38.840 a second to put him on hold. I want to get Kevin call kin 1208 01:40:38.960 --> 01:40:43.079 on or and also jeffik either one of them one or both. I really 1209 01:40:43.079 --> 01:40:45.880 do want to ask him about this, the upper arm. He's saying it's 1210 01:40:45.880 --> 01:40:55.640 a known problem. Okay, I want to say, because I am looking 1211 01:40:55.760 --> 01:41:00.560 here and it says here they have experienced some issues with up for control arms 1212 01:41:00.600 --> 01:41:10.920 in old, older models. Okay, up until nineteen ninety eight. My 1213 01:41:11.079 --> 01:41:15.399 god, I mean, I don't know. We'll we'll ask our people. 1214 01:41:15.760 --> 01:41:20.600 Are you really really three thirty years old? To be perfect? I'm confused. 1215 01:41:20.600 --> 01:41:24.840 I see. That's what I don't understand why he would even bitch about 1216 01:41:24.880 --> 01:41:30.640 that. It's thirty plus years old. Mickey, hang on, We'll be 1217 01:41:30.720 --> 01:41:35.920 right back, Mickey, hang on. Go with a sure thing Denver's best 1218 01:41:36.000 --> 01:41:41.039 roofer Excel Roofing dot com. You don't pay a cent until you're content. 1219 01:41:44.399 --> 01:41:46.960 Time for an insurance check up free, no obligation. In comparison, call 1220 01:41:47.079 --> 01:41:53.039 Compass Insurance paying too much your coverage at dozens of insurance companies find out now 1221 01:41:53.119 --> 01:41:56.960 three oh three seven seven to one help. You'll think you're his only customer 1222 01:41:57.000 --> 01:42:00.640 when you choose Frank durand the real estate Man dot com to listen your home 1223 01:42:00.840 --> 01:42:06.520 with Remax Alliance three oh three nine two zero sixteen twenty two hin Tom Martino 1224 01:42:06.640 --> 01:42:12.800 here. Kevin Calkins shared an autotech. Have you ever heard of General motors 1225 01:42:12.840 --> 01:42:17.079 in the eighties and nineties having problems with the upper A arms in their suspension? 1226 01:42:18.560 --> 01:42:24.239 Not chronically? No, Okay. I looked it up too, and 1227 01:42:24.279 --> 01:42:29.000 they said they had a few issues with in the early nineteen nineties. But 1228 01:42:30.920 --> 01:42:34.319 Leo said, they have a problem. But Leo, it doesn't seem to 1229 01:42:34.399 --> 01:42:42.000 extend into any vehicles two thousand and up. So we're talking about twenty four 1230 01:42:42.079 --> 01:42:49.239 years ago. This problem was overcome, Leo, necessarily. Well, what 1231 01:42:49.239 --> 01:42:51.560 do you mean, I mean, I got a guy on here does all 1232 01:42:51.640 --> 01:42:56.119 kinds of work. Do you see any major problems, Kevin, with any 1233 01:42:56.239 --> 01:43:00.640 of the control arms in the in the front of you know, sort of 1234 01:43:00.720 --> 01:43:02.840 just sort of just worn out parts. I don't say, any chronic issues, 1235 01:43:02.920 --> 01:43:11.279 No, Cleo, Well you have to do the junk yard. Check 1236 01:43:11.319 --> 01:43:16.479 out the shivvies only and what years? What years, Leo, I don't 1237 01:43:16.520 --> 01:43:20.000 know the US. There are some cars that are not happening in the year 1238 01:43:20.039 --> 01:43:26.720 two thousand and above, and it doesn't matter. There's other brands of cars 1239 01:43:27.000 --> 01:43:30.600 no matter how old they are, they don't come apart. Okay, So 1240 01:43:30.840 --> 01:43:33.800 anyway, what is the point though, Leo, Leo, what is the 1241 01:43:33.840 --> 01:43:38.760 point, if you are correct, what is the point that we have established 1242 01:43:38.960 --> 01:43:44.800 that General Motors has a problem with upper A arms in vehicles up to year 1243 01:43:44.960 --> 01:43:48.560 nineteen ninety nine? What is the point It goes a way to bewond Okay, 1244 01:43:48.760 --> 01:43:54.840 the point is that they've had that since nineteen sixties. But they're not 1245 01:43:54.880 --> 01:43:58.159 going to fix it now. Those cars are being those cars. They're not 1246 01:43:58.279 --> 01:44:01.079 going to redesign a damn thing. They're they're all out there. Man, 1247 01:44:01.319 --> 01:44:09.199 they're old cars. So is my old sixty six forward. Okay, So 1248 01:44:09.279 --> 01:44:12.560 what can you do to change it? They can't go back in time and 1249 01:44:12.680 --> 01:44:15.560 change it. Leo, what you're even if what you're saying is true, 1250 01:44:15.800 --> 01:44:21.079 there's no solution. Do you expect them to have a recall on nineteen ninety 1251 01:44:21.119 --> 01:44:29.000 cars. I'm not talking about recall. I didn't mention that. Okay, 1252 01:44:29.039 --> 01:44:31.439 what are then? Here's what I want to know. I'm sorry, Leo, 1253 01:44:31.600 --> 01:44:35.439 I'm sorry. I don't understand the reason for the call. Let's say 1254 01:44:35.439 --> 01:44:41.600 you're correct, and let's say there has been a chronic problem and still is 1255 01:44:42.039 --> 01:44:45.399 on cars up to let's say year two thousand. What should they do about 1256 01:44:45.439 --> 01:44:55.520 it? They came within two minutes of killing my daughter all over, Leo, 1257 01:44:55.800 --> 01:44:59.920 I'm asking you a question. Leo, you're not answering the question. 1258 01:45:00.439 --> 01:45:11.920 If what you're saying is correct, what should they do? Really, I'm 1259 01:45:11.960 --> 01:45:15.920 asking, I really am asking, Leo. It took care. You can't 1260 01:45:16.039 --> 01:45:23.239 change the truth, you but I'm Leo. Let's say you're telling the truth. 1261 01:45:23.880 --> 01:45:30.880 What can be done? General Motors talk to me about Nerdy taking my 1262 01:45:31.000 --> 01:45:35.640 life, the life of my droughter. Okay, first of all, what 1263 01:45:35.760 --> 01:45:39.920 could have happened didn't happen. Okay, I'm sorry, and I'm glad it 1264 01:45:39.960 --> 01:45:45.319 didn't. There is absolutely no point to that call. I'm sorry. Tell 1265 01:45:45.359 --> 01:45:50.239 me what you want? What do you want? We have more coming up. 1266 01:45:53.199 --> 01:45:57.239 Go with a sure thing Denver's best roofer Excel Roofing dot com. You 1267 01:45:57.279 --> 01:46:02.760 don't pay a cent until you're content. Three leave time for an insurance check 1268 01:46:02.840 --> 01:46:09.399 up free no obligation comparison call Compass Insurance paying too much your coverage at dozens 1269 01:46:09.439 --> 01:46:13.560 of insurance companies find out now three all three seven seven one help. You'll 1270 01:46:13.560 --> 01:46:16.399 think you're his only customer when you choose Frank durand the real estate Man dot 1271 01:46:16.399 --> 01:46:21.119 com to list your home with Remax Alliance three all three nine two zero sixteen 1272 01:46:21.199 --> 01:46:35.159 twenty two. Yeah, ripped, you need ADVI so you don't have come 1273 01:46:35.359 --> 01:46:42.880 run anxious. As fast as we can show Shooter's gonna help come. Man 1274 01:46:43.079 --> 01:46:50.319 six is the Troubleshooter Show. No Tom Martino, Hi Tom Martino, your 1275 01:46:50.520 --> 01:46:56.199 troubleshooter three all three seven one three talk seven one three eight two five five. 1276 01:46:56.640 --> 01:46:59.359 Welcome to the show. I want to tell you, and we'll talk 1277 01:46:59.399 --> 01:47:01.800 to him in just a minute. Please mark your calendars for Thursday evening. 1278 01:47:02.279 --> 01:47:06.439 That's the twentieth six point thirty at the Sheridan DTC. We're going to have 1279 01:47:08.039 --> 01:47:13.239 a seminar there my moneymway dot com about financial things, especially going on into 1280 01:47:13.239 --> 01:47:15.840 older age. We'll talk about all kinds of stuff coming up all right, 1281 01:47:16.359 --> 01:47:20.920 like, for example, the main thing safe and secure retirement. We'll talk 1282 01:47:20.920 --> 01:47:27.079 about investing, we'll talk about Medicare, social security, also reverse loans and 1283 01:47:27.119 --> 01:47:29.119 the like. And we'll talk to Jordan in a minute. I want to 1284 01:47:29.159 --> 01:47:31.479 go to Micky, who's been waiting, and of course anybody with any calls 1285 01:47:31.520 --> 01:47:35.600 on anything. Three oh three seven to one to three talk three oh three 1286 01:47:35.640 --> 01:47:40.279 seven one three eight two five to five Mickey, go ahead, Hi Tom 1287 01:47:40.319 --> 01:47:44.520 can you hear me? Hey, what's going on? Okay? I've got 1288 01:47:44.560 --> 01:47:51.920 a social Security slash PRARA retirement question. My wife is krok okay on social 1289 01:47:53.000 --> 01:48:00.560 Security, has been for ten years, and she's also a Puro employee or 1290 01:48:00.600 --> 01:48:08.079 a chip cool public school employee who is just retired, and she could take 1291 01:48:08.199 --> 01:48:13.560 a Peyerra retirement. Also, if she does right, takes a two thirds 1292 01:48:13.680 --> 01:48:18.680 hit on her social security right. Okay, if she doesn't take Peerra, 1293 01:48:19.800 --> 01:48:25.239 what happens? Could you just let that pieri sit there and not take that 1294 01:48:25.359 --> 01:48:31.199 hit? You know what? I've never even thought of that because normally it 1295 01:48:31.399 --> 01:48:35.079 benefits you to take the PARA and the hit. So the question would be 1296 01:48:35.119 --> 01:48:40.840 why would you not? There is what's called the windfall. There's called the 1297 01:48:40.920 --> 01:48:46.479 windfall elimination of provision. Okay. That means that para who also receives Social 1298 01:48:46.520 --> 01:48:53.760 security, right, they do some kind of formula yes, and the maximum 1299 01:48:53.960 --> 01:49:01.199 monthly reduction. However, is now you what they do is you get a 1300 01:49:01.239 --> 01:49:06.560 maximum reduction from your para. It's not I don't think it's your social security 1301 01:49:06.600 --> 01:49:12.199 that takes a hit. I think it's your para. It's the social security 1302 01:49:12.239 --> 01:49:15.920 that takes the hit. All right, Okay, that's not what I'm reading. 1303 01:49:15.960 --> 01:49:19.800 Are you sure of that? Because I mean it says, wait, 1304 01:49:19.840 --> 01:49:24.960 oh, hold on, your parent benefit will not be reduced due to social 1305 01:49:25.000 --> 01:49:30.119 Security. I'm sorry. However, there are some provisions depending on how much 1306 01:49:30.159 --> 01:49:34.279 you make. It says this applies to PARA retirees who also receives Social Security 1307 01:49:34.279 --> 01:49:40.960 earned benefit. It says, the windfall provision reduces You're right, your social 1308 01:49:40.960 --> 01:49:48.159 Security benefit based on a formula, and in twenty twenty three, the maximum 1309 01:49:48.600 --> 01:49:56.520 the maximum reduction of your Social Security is five hundred and fifty seven dollars or 1310 01:49:56.600 --> 01:50:04.760 one half of PARA. Well, if she's according to Social Security who I 1311 01:50:04.800 --> 01:50:10.760 talked to, they told us that she would take a sixty six percent, 1312 01:50:10.880 --> 01:50:16.159 yet two thirds offer social security. Yeah, but how much does that in 1313 01:50:16.239 --> 01:50:23.840 dollars offer social offer social that? Yeah? I'm asking what, I'm asking 1314 01:50:23.880 --> 01:50:29.199 what the what does the what? What does the math add up to? 1315 01:50:29.279 --> 01:50:34.359 Does she actually get less doing the PARA and the Social Security? She gets 1316 01:50:34.399 --> 01:50:39.880 the same amount, but she loses two thirds to offer for social Security. 1317 01:50:40.199 --> 01:50:43.680 I understand. But when they add them both together, it's essentially the same 1318 01:50:43.960 --> 01:50:48.000 benefit. It's essentially the same benefit. Yes, that's weird. Why would 1319 01:50:48.000 --> 01:50:53.279 they take I don't understand why if you paid into Social Security they would ding 1320 01:50:53.399 --> 01:50:58.159 you like that. Yeah, we're talking about the government here, I know. 1321 01:50:59.159 --> 01:51:04.520 Oh, let's see. There's another hitchy in here also that currently, 1322 01:51:05.319 --> 01:51:12.760 if I die and she's not on PARA, she can replace her Social Security 1323 01:51:12.840 --> 01:51:17.960 with mine. Okay. The way now, the way that work. Okay, 1324 01:51:17.960 --> 01:51:23.159 it's called survivor's benefits, and it's kind of like that. It's kind 1325 01:51:23.159 --> 01:51:27.359 of like that. What they do is they take they take the survivor benefit 1326 01:51:27.479 --> 01:51:30.760 or her, and she'll get whatever's more right, and mine is twice what 1327 01:51:30.800 --> 01:51:34.159 hers is, so she'll get more with you. But no, no, 1328 01:51:34.239 --> 01:51:38.399 she won't get your whole benefit. She's not going to get one percent of 1329 01:51:38.399 --> 01:51:43.239 your benefit. Oh, according to Social Security, she does afore you talk 1330 01:51:43.319 --> 01:51:46.800 to them. My god, I can't believe. Okay. First of all, 1331 01:51:46.920 --> 01:51:53.279 let me just answer this one question. According to the Parrot website, 1332 01:51:53.359 --> 01:51:58.840 you do not have to take PARA okay, Okay, you can remain on 1333 01:51:58.880 --> 01:52:00.960 Social Security. They can't force you to take it, and they can't reduce 1334 01:52:00.960 --> 01:52:09.159 your Social Security okay, And there's no penalty or anything else because you didn't 1335 01:52:09.159 --> 01:52:13.000 take it. No, there's none, none that I can It says here 1336 01:52:13.399 --> 01:52:17.399 that parasocial security have their own eligibility criteria. As long as you are are 1337 01:52:17.399 --> 01:52:21.680 fully invested in one, you don't have to take the other. Okay, 1338 01:52:23.560 --> 01:52:28.279 and then the other thing is now what I'm very interested though. Survivor benefits 1339 01:52:28.359 --> 01:52:34.880 have always befuddled me. And you're saying that Social Security told you that you 1340 01:52:34.920 --> 01:52:40.600 could take that she gets all of your benefit when you die, Yes, 1341 01:52:40.760 --> 01:52:45.439 as long as she's on social Security and not parap. Yeah, but your 1342 01:52:45.560 --> 01:52:53.600 and your wife is on her own social security correct, Okay, Okay, 1343 01:52:53.840 --> 01:52:56.119 we know what. I'm going to find that out. I'm going to the 1344 01:52:56.159 --> 01:53:00.760 Social Security website because this is something I go over and over, and I 1345 01:53:00.880 --> 01:53:04.439 was told you don't get one hundred percent of your spouse's social there's a formula. 1346 01:53:04.680 --> 01:53:08.800 Yours goes up a little, but it's not it doesn't equal the whole 1347 01:53:08.840 --> 01:53:14.720 thing. But but I'll find out. But that's not what that was told 1348 01:53:14.760 --> 01:53:23.439 face to face. In addition to that, if I die and she gets 1349 01:53:23.479 --> 01:53:30.479 my social Security and she's also on PARA, she takes a hit on my 1350 01:53:30.640 --> 01:53:33.800 social security, she won't get all of my social security. She takes that 1351 01:53:34.039 --> 01:53:41.319 same two thor as hit. Okay, if your benefit is higher, she 1352 01:53:41.479 --> 01:53:46.640 can switch to the higher survivor benefit. Now listen, the survivor benefit is 1353 01:53:46.800 --> 01:53:53.560 generally again you're right, generally equal to the full benefit you're receiving at the 1354 01:53:53.600 --> 01:53:59.960 time of your death. If your wife starts receiving survivor benefits at full return 1355 01:54:00.439 --> 01:54:09.079 age, the benefit will be reduced. Okay, So like so in other 1356 01:54:09.079 --> 01:54:14.720 words, you it depends if she was taking your benefit or not your benefit. 1357 01:54:14.760 --> 01:54:19.920 But it says here if your wife starts receiving survivor benefits before her full 1358 01:54:20.000 --> 01:54:26.319 retirement age, so apparently she's allowed to take it. But if she waits 1359 01:54:26.560 --> 01:54:30.600 to her full retirement age, she will get one hundred percent of your benefit. 1360 01:54:30.640 --> 01:54:33.479 Does that make sense? Yes? And she said, okay, we'll 1361 01:54:33.520 --> 01:54:41.960 beyond that. And if she does take your benefit along with PARA, it 1362 01:54:42.000 --> 01:54:45.119 will be reduced with a formula. Again, I don't know the exact formula, 1363 01:54:45.159 --> 01:54:48.800 but in other words, they're never going to let you totally add them 1364 01:54:48.840 --> 01:54:57.920 up right, And I think the formula comes out kind of to you having 1365 01:54:57.920 --> 01:55:00.720 the same benefit. I don't even know why they do it, I swear 1366 01:55:00.760 --> 01:55:03.239 to you. The way it looks here, the math The way the math 1367 01:55:03.319 --> 01:55:08.079 seems to be working out is that they reduce it, so you end up 1368 01:55:08.079 --> 01:55:11.319 getting the same amount, but you get it from two sources. How stupid 1369 01:55:11.439 --> 01:55:15.600 is that? Exactly? Man? You're losing that amount on your Social Security 1370 01:55:15.920 --> 01:55:19.520 that you have worked for and put in for all your life. That's what 1371 01:55:19.520 --> 01:55:21.880 it sounds like. Mike's got a comment. Go ahead, Mike. What's 1372 01:55:21.880 --> 01:55:30.319 your comment? Mike? I thought Mike said he had a comment on Mickey's 1373 01:55:30.359 --> 01:55:33.520 situation. Mike is there? Mike still there? And now are you there? 1374 01:55:34.000 --> 01:55:36.880 Yes, Mike, I'm here, Go ahead, sir. Yes, 1375 01:55:40.520 --> 01:55:46.479 what he's referring to. I was a thirty year PARA employee inside business that 1376 01:55:46.640 --> 01:55:53.199 I paid Social Security into. So when I retired from my parent job, 1377 01:55:53.560 --> 01:55:56.960 I had four options. I could take all the cash out I put into 1378 01:55:57.039 --> 01:56:01.560 pair of I could take the benefit pair at one, and when I died 1379 01:56:01.800 --> 01:56:06.199 it went away. The other option is I could take a reduced benefit. 1380 01:56:06.439 --> 01:56:12.000 When I passed, my spouse got half of that, and the other benefit 1381 01:56:12.279 --> 01:56:16.239 was if I took PARA at another reduced rate. I passed, my wife 1382 01:56:16.279 --> 01:56:21.800 continued to get that same PARA amount until her death. But unfortunately the Social 1383 01:56:21.800 --> 01:56:29.720 Security has what's called a windfall program. And right, so I paid in 1384 01:56:29.760 --> 01:56:33.920 to Medicare and Medicaid, but I never paid in to Social Security through my 1385 01:56:34.000 --> 01:56:41.439 para job. So my social Security was supposed to be eleven hundred dollars a 1386 01:56:41.520 --> 01:56:45.239 month. When they factored my Paara retirement monthly account, that went down to 1387 01:56:45.279 --> 01:56:50.000 three hundred and fifty and that money I will never get back that additional pair 1388 01:56:50.279 --> 01:56:55.119 or additional social security. Wow, that's bad. Or to go to the 1389 01:56:55.119 --> 01:57:00.720 Social Security website and look up the windfall program. That's how they explain that. 1390 01:57:01.880 --> 01:57:09.159 Okay, So does that make sense to you, Mickey? Yes, 1391 01:57:09.359 --> 01:57:13.760 yeah, I knew all of that. My real all way question was if 1392 01:57:13.800 --> 01:57:18.760 she doesn't take her PARA retirement, will social Security thing her for that in 1393 01:57:19.279 --> 01:57:26.880 some way, shape or form if you contact If you contact Para, Parah 1394 01:57:27.840 --> 01:57:31.319 will hold that money for her. It will continue to accrue interest and then 1395 01:57:31.399 --> 01:57:35.199 she can take that out of a lump sum later. But I don't know 1396 01:57:35.239 --> 01:57:40.960 how that will affect social Security now. But Para's pretty good about speaking to 1397 01:57:41.039 --> 01:57:44.119 that very question. My wife was in that situation. She had a part 1398 01:57:44.119 --> 01:57:46.720 time job at the library, left the money in there, and she can 1399 01:57:46.760 --> 01:57:50.359 take that out and can now, if you did not tell me this, 1400 01:57:50.920 --> 01:58:00.800 if you did not do a working enough like for Social Security and only worked 1401 01:58:00.840 --> 01:58:05.000 as a teacher, then you don't become You don't you don't become eligible at 1402 01:58:05.039 --> 01:58:11.119 all for social right. You just have to depend on PARA. That is 1403 01:58:11.239 --> 01:58:15.640 correct. That is correct, and PARA does give you a break. Since 1404 01:58:15.720 --> 01:58:19.359 I'm now retired and I have to pay for Medicare, I can continue on 1405 01:58:19.600 --> 01:58:25.479 with the para insurance with the Medicare, or what I do now is I'm 1406 01:58:25.479 --> 01:58:30.760 on a supplement which is not the Paracare, and my Social Security goes to 1407 01:58:30.800 --> 01:58:35.600 pay that one hundred and fifty dollars a month or whatever. Okay, cool, 1408 01:58:36.520 --> 01:58:40.399 Thank you for the information we got. We got more coming up on 1409 01:58:40.439 --> 01:58:43.319 the Troubleshooter Show. Three oh three seven one, three eight, two five 1410 01:58:43.479 --> 01:58:51.800 five Go with a sure thing Denver's Best Roofer Excel roofing dot com. You 1411 01:58:51.840 --> 01:58:59.560 don't pay a cent until you're content. Time for an insurance check up, 1412 01:58:59.600 --> 01:59:04.560 free obligation comparison call Compass Insurance paying too much your coverage at dozens of insurance 1413 01:59:04.600 --> 01:59:09.560 companies find out now three all three seven seven to one help You'll think you're 1414 01:59:09.600 --> 01:59:13.479 his only customer when you choose Frank durand the real estate Man dot com to 1415 01:59:13.560 --> 01:59:17.239 list your home with Remax Alliance three all three nine two zero sixteen twenty two. 1416 01:59:20.640 --> 01:59:26.600 All right, I want to talk to Jordan Cano, part of the 1417 01:59:27.399 --> 01:59:32.720 My Moneymway dot com group. We're having the seminar Thursday night. Jordan, 1418 01:59:32.800 --> 01:59:36.640 what can people expect and why should they make an appointment? Who should make 1419 01:59:36.680 --> 01:59:41.920 an appointment? And again, there's nothing to buy, nothing to pay for. 1420 01:59:42.079 --> 01:59:45.520 Everything is no obligation. Talk about that, Jordan, You got it. 1421 01:59:45.600 --> 01:59:49.000 Yeah, we're gonna be having experts not only in the financial arena, 1422 01:59:49.039 --> 01:59:53.439 which is not building just tax free money and earning guarantees, but we have 1423 01:59:53.479 --> 01:59:57.479 people to do with tax benefits. So we have a CPA, not only 1424 01:59:57.479 --> 02:00:00.479 our personal CPA, but he helps our clients and they to help answer questions. 1425 02:00:00.520 --> 02:00:03.600 We have a mortgage specialist, and of course social security, some of 1426 02:00:03.600 --> 02:00:06.159 those topics you guys were just talking about a few minutes ago, and I 1427 02:00:06.199 --> 02:00:10.600 just want to add one piece. You were talking about para R and D 1428 02:00:10.760 --> 02:00:14.359 kind of thing. Keep in mind this is where the tax advisors are gonna 1429 02:00:14.359 --> 02:00:17.000 best in. But most para accounts SUFFICIH in Florida, there are typically r 1430 02:00:17.039 --> 02:00:19.239 and gs that they have to take almost like a four to one k. 1431 02:00:19.720 --> 02:00:24.760 So for that, gentleman, when you talk about so security and para accounts, 1432 02:00:25.159 --> 02:00:30.640 at some point you can't just differ forever. Okay, Now talk about 1433 02:00:30.920 --> 02:00:34.600 some of the things you'll be learning tomorrow or will be learning. Well, 1434 02:00:34.680 --> 02:00:41.079 yeah, and it's going to be going on having information for not only getting 1435 02:00:41.119 --> 02:00:43.920 out of debt. I mean we tell people not only you can just pay 1436 02:00:43.920 --> 02:00:47.000 off your mortgages, and also credit cards that we've been seeing people rack up 1437 02:00:47.039 --> 02:00:50.600 lately, it's going to be showing people how to use it with their money 1438 02:00:50.760 --> 02:00:55.439 and keep earning interests instead of giving away those banks or credit card companies. 1439 02:00:55.560 --> 02:00:59.720 That's just become the banker concept. And then of course the guaranteed pension account. 1440 02:01:00.079 --> 02:01:02.520 This one tom it's earning money, protecting your money, learning market crashes. 1441 02:01:02.760 --> 02:01:06.319 But the best part is you have guaranteed floors that lock your cash in 1442 02:01:06.359 --> 02:01:11.239 every year so that you can't go backwards. That is. Explain explain how 1443 02:01:11.279 --> 02:01:15.239 that works in real life? Yeah, real life I always equated to a 1444 02:01:15.239 --> 02:01:16.640 stairway. You know, when you have money is going to go up. 1445 02:01:16.640 --> 02:01:20.600 When the market's up, and you get to earn the participation of whatever the 1446 02:01:20.600 --> 02:01:25.039 market grows to. But the best part is when it comes down with these 1447 02:01:25.039 --> 02:01:29.279 accounts, it's stays level. It's it's like a stairway and go up sideways, 1448 02:01:29.359 --> 02:01:32.760 up sideways, so your account will increase and anytimes market drops, the 1449 02:01:32.800 --> 02:01:36.079 lowest you can hit is zero percent. You can't go negative and you won't 1450 02:01:36.079 --> 02:01:44.319 go backwards. And then how does that then turn into income? Like can 1451 02:01:44.359 --> 02:01:48.720 you do you set the date when you open it or do you decide as 1452 02:01:48.760 --> 02:01:53.199 you're going on? In other words, what if I set a date and 1453 02:01:53.239 --> 02:01:57.920 it's farther out than I want it? Can you alter that date? You 1454 02:01:57.960 --> 02:02:00.119 can? You can, indeed, And that's a great question. This is 1455 02:02:00.159 --> 02:02:02.760 what life's about. We're not you know, we can plan for five years 1456 02:02:02.800 --> 02:02:05.640 out, ten years up, but in reality it changes every year for everybody. 1457 02:02:05.720 --> 02:02:10.359 Right. So the point is is with these accounts, they are fluid. 1458 02:02:10.399 --> 02:02:12.800 You can choose when it's with that income on, you can choose to 1459 02:02:12.800 --> 02:02:15.119 if you need to take more. When you have that income on, you 1460 02:02:15.119 --> 02:02:17.359 have the ability to take extra cash out if you need to. And so 1461 02:02:17.600 --> 02:02:21.359 these are the way to have those pension accounts like the good old day pensions. 1462 02:02:21.680 --> 02:02:27.640 But with more flexibility, more growth, and more protection. Okay, 1463 02:02:27.760 --> 02:02:32.840 so one of the things you guys talk about from time to time are reverse 1464 02:02:32.920 --> 02:02:40.000 loans. Okay, now, how have you seen people using reverse loans? 1465 02:02:40.279 --> 02:02:46.000 You know, I think they have a definite place for certain situations. When 1466 02:02:46.039 --> 02:02:51.720 do you guys recommend them? You know, I used to be pretty kind 1467 02:02:51.760 --> 02:02:56.760 of didn't think they were the best benefit for that. It's changed our mind 1468 02:02:56.840 --> 02:02:59.680 completely. My mind changed. And you're right, because we have our mortage 1469 02:02:59.680 --> 02:03:02.720 special ruth that will be there. But it makes sense a lot of times, 1470 02:03:02.760 --> 02:03:05.359 I'll say, when you don't have enough money, if you just have 1471 02:03:05.520 --> 02:03:10.880 some security in your entirement, if you're widowed and you're not receiving the same 1472 02:03:10.880 --> 02:03:13.960 benefits you thought you were before because the spouse passed away, maybe the pension 1473 02:03:14.000 --> 02:03:15.640 wasn't paying out like one hundred percent like you guy were talking about earlier, 1474 02:03:15.800 --> 02:03:18.800 so nothing got to the widow. Well, this is right. Reverse mortgage, 1475 02:03:18.840 --> 02:03:23.399 I would say, would make sense because you can then be able to 1476 02:03:23.439 --> 02:03:26.840 remain in that location, your spouse can remain in that location, whoever it 1477 02:03:26.920 --> 02:03:30.720 is, and not have to worry about paying that mortgage payment if they didn't 1478 02:03:30.720 --> 02:03:33.239 pay the house off. That's one way, and just another way would just 1479 02:03:33.239 --> 02:03:38.239 be able to have the ability to still participate in getting some cash out. 1480 02:03:38.359 --> 02:03:41.800 A lot of times you still can get money and live there. And if 1481 02:03:41.800 --> 02:03:45.039 the mortgage values continue to go up, I've been told you can all these 1482 02:03:45.039 --> 02:03:48.319 refinance and get more out. So those reverse mortgages have places. But you're 1483 02:03:48.399 --> 02:03:53.079 right, it's time and place for certain people. It just depends on the 1484 02:03:53.079 --> 02:04:00.760 situation. Okay, again, this is going to be Thursday evening and all 1485 02:04:00.800 --> 02:04:03.359 people have to do is bring themselves right. There's nothing to pay, nothing 1486 02:04:03.399 --> 02:04:06.000 to do, you got it, nothing to be anyhing to new. You've 1487 02:04:06.039 --> 02:04:10.239 been there before, we've had standing room only, and you've been in as 1488 02:04:10.239 --> 02:04:13.920 events. It gets exciting when people start asking questions because everybody gets to talk 1489 02:04:14.159 --> 02:04:17.800 and we get to have the experts like ourselves and the CPA and mortgage help 1490 02:04:17.880 --> 02:04:24.399 answer these questions for anybody free of charge. All right, and again all 1491 02:04:24.439 --> 02:04:27.920 they have to do is call first or go to my moneymway dot com three 1492 02:04:27.960 --> 02:04:32.760 oh three seven seven nine sixty six hundred seven seven nine sixty six hundred. 1493 02:04:33.159 --> 02:04:38.520 I appreciate that. Now we'll be back to Jordan, Deputy BO. I 1494 02:04:38.560 --> 02:04:43.439 want to bring I want to bring this thing pissed me off earlier. Yes, 1495 02:04:43.680 --> 02:04:46.279 it was a car was towed. Now, okay, so the car's 1496 02:04:46.319 --> 02:04:53.279 towed, but we find out it was towed by a company called Tow Pros 1497 02:04:54.359 --> 02:04:57.960 and they don't have a license to be in business, according to this woman 1498 02:04:58.039 --> 02:05:02.600 Hannah. And also they did damage to her car and then sent it to 1499 02:05:02.640 --> 02:05:08.119 a body shop, and now they're ghosting the body shop and they're not paying 1500 02:05:08.159 --> 02:05:11.720 for her rental. I mean, this sounds like a pretty bad damn company. 1501 02:05:11.760 --> 02:05:15.039 What's going on with toe Pros? Did you get a hold of them? 1502 02:05:15.159 --> 02:05:17.319 Yes, on a service. That does sound bad, especially if they 1503 02:05:17.319 --> 02:05:21.520 don't have the license. But the bottom line is the take care of Hannah. 1504 02:05:21.560 --> 02:05:27.439 So I did call over there, talk to a person named Kelly at 1505 02:05:27.479 --> 02:05:31.239 toe Pros, told him the situation who I was, and she said she'd 1506 02:05:31.239 --> 02:05:36.159 get the owner's wife, Melanie, to call over to the body shop and 1507 02:05:36.319 --> 02:05:42.800 make a credit card payment so Hannah could get the car. So I waited 1508 02:05:43.319 --> 02:05:48.159 to the next segment and called the body shop, Terry's Auto Body. Talked 1509 02:05:48.199 --> 02:05:55.239 to the owner there and they did pay the man they tendered over a credit 1510 02:05:55.279 --> 02:06:00.159 card. And I called Hannah and she's on her way to pick up up 1511 02:06:00.159 --> 02:06:02.760 the car right now, So, bro, that is wonderful. Hold on, 1512 02:06:02.920 --> 02:06:06.760 you know what you get right? Okay? Oh no bell, No, 1513 02:06:06.880 --> 02:06:11.000 we don't call that. He don't call that a bell. You get 1514 02:06:11.039 --> 02:06:13.760 my dinger? Man, Come on, Tom whipped out his dinger for you. 1515 02:06:13.800 --> 02:06:17.119 There, yeah, there it goes again. That means I get to 1516 02:06:17.119 --> 02:06:19.960 come back later in the week. Yes, you do, and we're gonna 1517 02:06:20.000 --> 02:06:26.359 double your pay as a volunteer. As an unpaid volunteer, you get double. 1518 02:06:26.600 --> 02:06:30.199 And by the way, I have another one too that'll take us to 1519 02:06:30.239 --> 02:06:32.600 break. It's the same dinger, but it has some special for you. 1520 02:06:32.680 --> 02:06:43.840 There. Oh yeah, thank you. That was an easy one. More 1521 02:06:43.840 --> 02:06:51.880 coming up. Go with a sure thing Denver's best roofer Excel Roofing dot com. 1522 02:06:51.920 --> 02:06:59.520 You don't pay a cent until you're content. Time for an insurance check 1523 02:06:59.600 --> 02:07:03.680 up. No obligation in comparison, call Compass Insurance paying too much your coverage 1524 02:07:03.680 --> 02:07:08.560 at dozens of insurance companies find out now three all three seven seven to one 1525 02:07:08.640 --> 02:07:12.319 help. You'll think you're his only customer when you choose Frank durand the Real 1526 02:07:12.399 --> 02:07:16.000 estate Man dot com to list your home with Remax Alliance three all three nine 1527 02:07:16.000 --> 02:07:24.520 two zero sixteen twenty two. Hi Tom Martino, you're troubleshooter. Three oh 1528 02:07:24.640 --> 02:07:29.640 three seven one three talk three all three seven one three eight two five five. 1529 02:07:30.079 --> 02:07:31.520 Okay, I want to go to the phones, and I have a 1530 02:07:32.319 --> 02:07:39.520 Mike. Mike, what's going on? So I have a rental house right 1531 02:07:39.600 --> 02:07:43.560 now and the tenant in it is my daughter and they want to buy the 1532 02:07:43.600 --> 02:07:46.560 house, and I'm wondering about doing an owner financing and what's involved with that 1533 02:07:46.680 --> 02:07:50.279 and if it makes sense or what now? Is the house paid for? 1534 02:07:53.000 --> 02:07:59.800 No, then you can't do an owner finance. Well, okay, so 1535 02:08:00.079 --> 02:08:01.600 have to be paid off first? Right? Well? Yeah, if you 1536 02:08:01.880 --> 02:08:07.239 if you want to finance a house and you don't own it, you can't 1537 02:08:07.520 --> 02:08:11.159 have you can't sell it while you have it loan on it. You would 1538 02:08:11.239 --> 02:08:16.239 it's against every loan I know if you if you let that house out of 1539 02:08:16.279 --> 02:08:22.199 your possession, so it's truly could trigger a do on sale clause, and 1540 02:08:22.399 --> 02:08:26.720 it's not a good idea. It's very dangerous practice. Now what you could 1541 02:08:26.760 --> 02:08:31.680 do is also dangerous, but it's your daughter. You could co sign the 1542 02:08:31.720 --> 02:08:39.880 loan and then just let her buy it from you. What do you mean 1543 02:08:39.880 --> 02:08:43.159 by co sign the loan co signer onto my Well, first of all, 1544 02:08:43.199 --> 02:08:46.600 why are you doing an owner finance? Can she qualify for a loan on 1545 02:08:46.640 --> 02:08:50.880 her own? Yes? Okay, Then why would you suggest doing an owner 1546 02:08:50.920 --> 02:08:54.560 finance. I don't understand that. If she can borrow money on her own, 1547 02:08:54.960 --> 02:08:58.319 why would you do an owner finance? What would be the benefit to 1548 02:08:58.359 --> 02:09:03.239 either of you? I don't want another rental, and I don't want the 1549 02:09:03.279 --> 02:09:09.239 tax consequences. Well, hold on a second, you're still going to get 1550 02:09:09.279 --> 02:09:13.720 tax consequences even if you finance it. They don't let you put off the 1551 02:09:13.960 --> 02:09:22.840 taxes. Huh okay, yeah, Then I know you're thinking about an installment 1552 02:09:22.920 --> 02:09:26.359 sale. First of all, you can't do an installment sale. And they 1553 02:09:26.359 --> 02:09:30.600 took the tax benefits out of installment sales long ago. There's no way to 1554 02:09:30.640 --> 02:09:33.439 trick the government when you don't want another rental. I get it, you 1555 02:09:33.479 --> 02:09:37.479 want to sell it. But when you sell it, you're going to have 1556 02:09:37.560 --> 02:09:41.880 some gains. And because it's a rental, have you been depreciating it? 1557 02:09:43.119 --> 02:09:48.760 No? More bad news? How long have you owned it? Twenty years? 1558 02:09:50.159 --> 02:09:52.239 Okay? Let me tell you some day. Let me tell you the 1559 02:09:52.279 --> 02:09:58.600 real problem you have. Okay, the real serious problem that you have at 1560 02:09:58.600 --> 02:10:07.680 this point. You bought the house for how much I don't remember. I 1561 02:10:07.680 --> 02:10:11.920 think there's about one hundred thousand left on the loan. Well, okay, 1562 02:10:13.079 --> 02:10:18.199 for okay, let me explain something to you. For every year you did 1563 02:10:18.239 --> 02:10:22.399 not depreciate that house, and for the life of me, I don't know 1564 02:10:22.439 --> 02:10:28.600 why you did not do that. If it was a rental moment initially you 1565 02:10:28.760 --> 02:10:33.079 or what keeping it as a second home, Well, when did it convert 1566 02:10:33.079 --> 02:10:41.840 to a rental? Never did because it's my daughter that's in there. Okay, 1567 02:10:43.359 --> 02:10:48.039 So it was never officially an income property. It's a secondary home, 1568 02:10:48.119 --> 02:10:54.279 is that right? Okay? If it wasn't held for investment, you're going 1569 02:10:54.319 --> 02:10:58.680 to escape this. But let me tell you, under normal circumstances what this 1570 02:10:58.800 --> 02:11:05.279 means. If it was a rental, you would have been obligated to depreciate 1571 02:11:05.319 --> 02:11:11.520 it each year. Now there are different depreciation schedules, but if you did 1572 02:11:11.520 --> 02:11:13.199 not depreciate it, a lot of people feel, oh, I'm not going 1573 02:11:13.279 --> 02:11:18.359 to depreciate it, so I don't lower my basis. The government will force 1574 02:11:18.399 --> 02:11:24.319 you to depreciate it even if you never took that depreciation, and you'll have 1575 02:11:24.359 --> 02:11:26.479 a higher gain when you sell it, no matter what, no matter what. 1576 02:11:26.880 --> 02:11:31.119 If you had it for twenty years, your basis would be zero in 1577 02:11:31.159 --> 02:11:35.880 that house approximately right now, which means every dime you make is long term 1578 02:11:35.920 --> 02:11:41.279 capital gain. Okay, that is if it was a rental. If it's 1579 02:11:41.479 --> 02:11:46.079 not a rental and your daughters, has your daughter been living in their free 1580 02:11:46.319 --> 02:11:56.239 No? Has she been paying you rent she's been helping pay the mortgage. 1581 02:11:56.279 --> 02:12:07.399 Have you been declaring it as income. That's a good question. Have you 1582 02:12:07.479 --> 02:12:13.880 ever written any kind of expenses off on that house as a rental? No? 1583 02:12:13.760 --> 02:12:18.239 Okay, here's what I'm gonna tell you. It would be best if 1584 02:12:18.279 --> 02:12:22.079 it was just a second home. Then they're not going to force you to 1585 02:12:22.159 --> 02:12:26.800 depreciate it. Okay, you're not gonna have to depreciate it, but you're 1586 02:12:26.840 --> 02:12:33.479 gonna have to realize every penny above what you bought that house for. And 1587 02:12:33.520 --> 02:12:37.079 now you're allowed to add to that basis. If you did any permanent improvements, 1588 02:12:37.479 --> 02:12:41.920 you can add to that basis. Okay, and then and then that 1589 02:12:43.000 --> 02:12:46.039 will be your basis. So let's say, do you have any idea what 1590 02:12:46.079 --> 02:12:52.000 the purchase price was back then? Any idea at all about one hundred and 1591 02:12:52.000 --> 02:12:56.720 sixty Let's say one hundred and sixty thousand, and let's say over the years 1592 02:12:56.760 --> 02:13:01.800 you put forty into it, okay, in not in interest or not in 1593 02:13:03.840 --> 02:13:09.800 minor stuff. I'm talking about in capital improvements. If you did, just 1594 02:13:09.840 --> 02:13:13.479 to make numbers easy, your basis would be two hundred thousand, What will 1595 02:13:13.520 --> 02:13:22.840 it sell for for forty four forty? Okay? Now were you hoping? 1596 02:13:24.800 --> 02:13:28.920 Because then what you're gonna have is two forty minus any commissions or expenses you're 1597 02:13:28.960 --> 02:13:33.079 gonna have. That's gonna be ordinary enuctions, not ordinary. That's gonna be 1598 02:13:33.119 --> 02:13:37.399 long term capital gain. What's your income other than that capital gain? What's 1599 02:13:37.399 --> 02:13:43.119 your income retired? Okay? So you're gonna have some capital gains to pay. 1600 02:13:43.159 --> 02:13:48.880 Okay, you're gonna have capital gains tax to pay. And the worst 1601 02:13:48.880 --> 02:13:52.199 case scenario, the worst case is going to be twenty five percent. That's 1602 02:13:52.239 --> 02:13:58.840 statement and federal. Okay. So if you make two hundred, let's say, 1603 02:13:58.960 --> 02:14:01.920 or two forty, then do the math. You're going to have to 1604 02:14:01.920 --> 02:14:05.199 pay the rest of that to the government. There's no there's no way around 1605 02:14:05.239 --> 02:14:07.920 it. There's just I mean, you can try, but there's no way 1606 02:14:07.960 --> 02:14:11.840 around it. So if you sold it for if you sold it for two 1607 02:14:11.920 --> 02:14:16.359 forty You're going to subtract excuse me, not two forty whatever you're going to 1608 02:14:16.399 --> 02:14:18.720 make, Let's say two forty in your in your gain. If you make 1609 02:14:18.760 --> 02:14:24.000 two forty in your gain, you're going to have about sixty thousand to paying 1610 02:14:24.119 --> 02:14:30.279 taxes. Ohly crap. And you're not going to get it. I mean, 1611 02:14:30.359 --> 02:14:31.800 I know people think they can get it right with it, but you're 1612 02:14:31.800 --> 02:14:35.439 not. You're not going to get out of it. Okay. You know 1613 02:14:35.119 --> 02:14:39.720 you can do a ten thirty one into another rental, but you don't want 1614 02:14:39.760 --> 02:14:41.720 another income. Now, let me ask you something. What were you going 1615 02:14:41.800 --> 02:14:46.079 to Were you hoping to get money or to just help your daughter with a 1616 02:14:46.159 --> 02:14:50.680 house? What do you mean? Well, when you sell it to her, 1617 02:14:50.960 --> 02:14:54.319 did you want to make money? Were you going to do something with 1618 02:14:54.359 --> 02:15:00.479 the money? Were you selling it to her when you I want to sell 1619 02:15:00.479 --> 02:15:03.199 it to her. Were you going to sell it to her for market value? 1620 02:15:05.960 --> 02:15:07.359 Not quite? I mean, I'm gonna give her, you know, 1621 02:15:07.479 --> 02:15:11.439 a discount on it. Okay, So you did want money, here's what 1622 02:15:11.600 --> 02:15:15.920 Let me let me get right to the reason I'm asking. If you did 1623 02:15:15.960 --> 02:15:18.880 not want to get money out of it, and you simply want to help 1624 02:15:18.920 --> 02:15:20.840 your daughter. You could gift her the house, then there would be no 1625 02:15:20.960 --> 02:15:28.560 taxes to either of you. But you can't gift her the house. If 1626 02:15:28.640 --> 02:15:31.920 you want to get money out of it, you need to sell it to 1627 02:15:31.960 --> 02:15:35.600 her, and she needs to go and get a loan. But there's no 1628 02:15:35.760 --> 02:15:39.640 benefit for you carrying the paper. It's not going to save you on taxes, 1629 02:15:39.680 --> 02:15:43.640 all right. So, so I know you're going to have people tell 1630 02:15:43.680 --> 02:15:46.840 you otherwise, and you're gonna get in trouble if you listen to them. 1631 02:15:48.119 --> 02:15:52.439 Okay, So I'm telling you the real way to do this is to sell 1632 02:15:52.439 --> 02:15:56.680 it, have her get her own loan, and pay your taxes. That's 1633 02:15:56.720 --> 02:15:58.840 the true way to do it. I mean, you know, other than 1634 02:15:58.880 --> 02:16:03.760 that, at it's going to be hocus pocus and that's not what you want. 1635 02:16:03.760 --> 02:16:07.000 Uh three O three seven to one three talk. We got more coming 1636 02:16:07.079 --> 02:16:11.760 up. Go with a sure thing Denver's Best Roofer Excel roofing dot com. 1637 02:16:11.800 --> 02:16:18.920 You don't pay a cent until you're content. Time for an insurance checkup free, 1638 02:16:20.000 --> 02:16:24.039 no obligation. In comparison, call Compass Insurance. Pay too much your 1639 02:16:24.079 --> 02:16:28.119 coverage at dozens of insurance companies find out now three oh three seven to seven 1640 02:16:28.159 --> 02:16:31.560 to one. Help. You'll think you're his only customer when you choose Frank 1641 02:16:31.640 --> 02:16:35.159 durand the real estate man dot Com to list your home with Remax Alliance three 1642 02:16:35.239 --> 02:16:39.760 oh three nine two zero sixteen twenty two. All right, I don't want 1643 02:16:39.760 --> 02:16:43.639 to hesitate here. Let's go to Frank. Frank. What's going on, 1644 02:16:43.680 --> 02:16:48.120 sir? Hello Frank? Say Tom, you've mentioned the Colorado Motor Repair Act. 1645 02:16:48.600 --> 02:16:52.079 Yeah, the Auto Repair Act, right, Yeah, to give estimates, 1646 02:16:52.159 --> 02:16:56.040 get consent from the customer to make Yeah. What it says is this, 1647 02:16:56.159 --> 02:17:01.079 basically, if you drop your car off. First of all, if 1648 02:17:01.120 --> 02:17:03.840 it's after hours, they don't have to do it by writing. They can 1649 02:17:03.879 --> 02:17:07.200 call you, but they can charge you up to one hundred and twenty five 1650 02:17:07.239 --> 02:17:11.280 bucks. If it's going to be beyond that, they have to get your 1651 02:17:11.319 --> 02:17:16.600 consent. And if you drop your car off like during normal business hours, 1652 02:17:16.959 --> 02:17:22.319 the estimate has to be in writing, and any changes that will be more 1653 02:17:22.360 --> 02:17:26.479 than twenty I believe ten percent more or more than that, they have to 1654 02:17:26.520 --> 02:17:31.159 get your approval. Okay, Tom. The Act permits customers to waive the 1655 02:17:31.280 --> 02:17:35.920 right to receive an estimate. I don't know if they do. I don't 1656 02:17:35.920 --> 02:17:37.680 actually I don't know that. I mean, maybe it does. I think 1657 02:17:37.799 --> 02:17:41.920 it's been a long time since I read it. Yeah. Well, anyway, 1658 02:17:43.000 --> 02:17:46.559 my repair shop is a new owner. The requests that I waive those 1659 02:17:46.680 --> 02:17:52.840 rights. Oh okay, what do you think? Well, I would never 1660 02:17:52.879 --> 02:17:56.680 wave it. Yeah, that's what I thought. I thought it was kind 1661 02:17:56.680 --> 02:18:01.520 of it's buried in a long list of things that they want us to approve 1662 02:18:01.000 --> 02:18:05.479 before we start using them. Well, I mean, I'm not saying that 1663 02:18:05.600 --> 02:18:13.399 automatically makes them guilty, but let's see you actually actually hold on a second. 1664 02:18:13.520 --> 02:18:22.440 Under the actual act itself, you cannot wave your right. Oh. 1665 02:18:22.159 --> 02:18:28.559 I have read it in the identify specific language that the customer can use to 1666 02:18:28.600 --> 02:18:35.079 wave their rights. Well, the customer can do it. The customer can 1667 02:18:35.120 --> 02:18:39.360 say I don't want a written okay, but you can't do it in their 1668 02:18:39.399 --> 02:18:46.840 contract. Look, well they they asked that, Okay, you can sign 1669 02:18:46.000 --> 02:18:50.280 Okay, you have to technically initiate it. I'm not going to split hairs 1670 02:18:50.280 --> 02:18:54.040 with you. There are exceptions. Yes, you can sign your rights away, 1671 02:18:54.120 --> 02:19:00.879 Yes you can, yes, okay, okay, but but why would 1672 02:19:00.959 --> 02:19:03.799 you do that? Exactly? That's what I was looking for. I don't 1673 02:19:03.799 --> 02:19:09.200 see any advantage to me doing it. Well, I don't even know why 1674 02:19:09.200 --> 02:19:13.079 they're asking you to. I don't like the idea at all. So there's 1675 02:19:13.120 --> 02:19:18.440 some right now. What they may not want to do is get stuck with 1676 02:19:18.520 --> 02:19:22.399 a car that they can't work on. That's why they should give you an 1677 02:19:22.399 --> 02:19:26.200 initial one up front that'll cover their ass and then on the off chance it's 1678 02:19:26.280 --> 02:19:31.360 more, that's what they should do. I got to go on to hold 1679 02:19:31.399 --> 02:19:33.200 on a second, Ernie, you have a comment on housing purchase. Go 1680 02:19:33.239 --> 02:19:37.600 ahead, Ernie, Yes, can you hear me? Okay, yes, 1681 02:19:37.639 --> 02:19:41.399 sir, go ahead, Yeah, just coming on the gentleman that called in 1682 02:19:41.440 --> 02:19:45.879 and telling the house to his daughter. Yes, Tom, is it possible 1683 02:19:45.920 --> 02:19:48.680 that this gentleman, well, just because ardn't say was retired, But do 1684 02:19:50.079 --> 02:19:52.239 take out a reverse mortgage? He catches out? I think you said. 1685 02:19:52.319 --> 02:19:56.440 Helster works like four hundred and he's got three twenty pays off his old house. 1686 02:19:56.520 --> 02:20:00.959 He's got two hundred and something. Yeah, but he he can't take 1687 02:20:01.000 --> 02:20:05.239 a reverse loan out on a home that's not his primary residents, that he's 1688 02:20:05.280 --> 02:20:07.959 not living in. That's the problem. By the way, I'm running out 1689 02:20:07.000 --> 02:20:11.200 of time. Let me let me give this out real quick call for your 1690 02:20:11.239 --> 02:20:16.959 tickets for Thursday night. Please reserve a seat free of charge. Three oh 1691 02:20:16.040 --> 02:20:20.879 three seven seven nine sixty six hundred. Three oh three seven seventy nine sixty 1692 02:20:20.920 --> 02:20:24.920 six hundred. My Money, Myway dot com. That's seven seven nine sixty 1693 02:20:24.959 --> 02:20:28.399 six hundred. Save all your problems for me