Latest / WCHS Network Podcasts / 06/23/2025 Retire Right Radio with Dan Smithson

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06/23/2025 Retire Right Radio with Dan Smithson · WCHS Network Podcasts

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  Speaker 1: Unlock your dream property with Meeks Realty Group, where Rich
• 0:03
  Speaker 1: the realtor makes real estate dreams a reality, whether it's
• 0:05
  Speaker 1: residential or commercial. We've got Charleston to Huntington covered. Your
• 0:09
  Speaker 1: key to exceptional real estate experience is start here Meeks Realtygroup.
• 0:13
  Speaker 1: Contact us at Meeks dot us.
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  Speaker 2: The views and opinions expressed on this program do not
• 0:18
  Speaker 2: necessarily reflect the views and opinions of five eight WCCHS
• 0:22
  Speaker 2: its employees or WVRC Media. This is retire Right Radio,
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  Speaker 2: a weekly show from John Verdett at Fourth Avenue Financial
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  Speaker 2: that aims to answer your questions about financial planning, investing,
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  Speaker 2: and how to retire right. Fourth Avenue Financial is located
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  Speaker 2: in downtown Charleston at one seventy Court Street. More information
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  Speaker 2: online at Fourth Avenue Financial dot com. Join the conversation
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  Speaker 2: by calling three oh four three four five fifty eight
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  Speaker 2: fifty eight or text three oh four nine three five
• 0:52
  Speaker 2: fifty oh eight. On Retire Right Radio, let's go live
• 0:57
  Speaker 2: to the studio with host Dale Cooper and John Verdett
• 0:59
  Speaker 2: from four to have any financial nae.
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  Speaker 3: And a very pleasant Monday morning to you.
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  Speaker 4: Thank you for listening to retire Writing Radio one five
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  Speaker 4: ad w c HS, the voice of charleson a little
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  Speaker 4: different tune to the show this morning. We're still gonna
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  Speaker 4: help you on how you can retire right, We're gonna
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  Speaker 4: take a little different track to get there. John is
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  Speaker 4: out of town this week and he has invited a
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  Speaker 4: guest onto the program, our returning guest who's been on
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  Speaker 4: the program before with John And did you do the
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  Speaker 4: show before, Dan, when John was out of town before. Yes,
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  Speaker 4: we did the show ourselves before as well. That in
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  Speaker 4: studio with us this morning is Dan Smithson. He is
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  Speaker 4: the president and CEO of a Star USA Financial Credit Union.
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  Speaker 4: We're going to talk about mortgages this morning, so I
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  Speaker 4: know that's something that a lot of people are talking about,
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  Speaker 4: whether it be from a if you're looking to purchase,
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  Speaker 4: if you're looking to be into a refinance situation, maybe
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  Speaker 4: a second mortgage, or a heatlock, something along those lines,
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  Speaker 4: all kinds of things that we can talk about this
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  Speaker 4: morning from the mortgage perspective. We'll do a little education
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  Speaker 4: piece on credit scores and the economy where things are
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  Speaker 4: right now. Try to keep you as educated as you
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  Speaker 4: could possibly be. So if you're in the space where
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  Speaker 4: you're looking for a mortgage or a second mortgage, you're
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  Speaker 4: looking to purchase a home, any of those things. Dan
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  Speaker 4: can help you out this morning and help isolating your
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  Speaker 4: questions and hopefully answering those. If you have any questions,
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  Speaker 4: you can give us a call this morning three zero
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  Speaker 4: four three four five fifty eight fifty eight three four
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  Speaker 4: five fifty eight fifty eight. You can also text over
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  Speaker 4: questions to three zero four non three five five zero
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  Speaker 4: zero eight.
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  Speaker 3: Well, Dan, thanks for coming in this morning, and welcome
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  Speaker 3: back to the radio.
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  Speaker 5: Thanks like your new digs. Definitely a lot different than last.
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  Speaker 4: Time, a lot different than the little closet that we
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  Speaker 4: were in probably the last time we did it. So yeah,
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  Speaker 4: it is much nicer, and so I'm glad that you're
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  Speaker 4: over your experiencing it experiencing it this way.
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  Speaker 3: For sure.
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  Speaker 4: You're no stranger to the radio here, but I do
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  Speaker 4: want folks to kind of be reacquainted with you, if
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  Speaker 4: you don't mind just introducing yourself a little bit and
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  Speaker 4: tell us a little bit about the credit union.
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  Speaker 3: Sure.
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  Speaker 5: I'm the president of Star USA Federal Credit Union. We're
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  Speaker 5: headquartered here in Charleston. We have six locations in southern
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  Speaker 5: West Virginia from Huntington in Tays Valley, Beckley, Summersville, and
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  Speaker 5: we're full service financial institution, savings products all your lending needs,
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  Speaker 5: everything from auto loans to business loans. We take pride
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  Speaker 5: in having very competitive rates and as a credit union,
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  Speaker 5: we return all of our profits to our members in
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  Speaker 5: the form of higher dividend rates, what we will pay
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  Speaker 5: on savings and lower loan rates.
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  Speaker 4: And that's really what it's all about, though. You great
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  Speaker 4: customer service, great servicing, and then competitive interest rates in
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  Speaker 4: the environment that we're in, and plus the hometown folks
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  Speaker 4: that will help people get through their financing decisions and
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  Speaker 4: things like that. You're not talking necessarily to a one
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  Speaker 4: eight hundred number that sends you to who knows where
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  Speaker 4: to talk about your finances. You have local offices here
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  Speaker 4: in West Virginia, so you can talk to people that
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  Speaker 4: know the lay of the land a little bit, which
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  Speaker 4: in this region is kind of important.
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  Speaker 5: Very important. And our folks are geared towards helping West
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  Speaker 5: Virginia folks, so that that goes a long way in
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  Speaker 5: today's environment.
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  Speaker 4: And when you think about things like that, just from
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  Speaker 4: a just like a quick blush at looking at at
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  Speaker 4: real estate in West Virginia. I mean you have tons
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  Speaker 4: of like modulor properties and and pre manufactured homes and
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  Speaker 4: different things like that, even like double wides on on
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  Speaker 4: a piece of land. It's if you've never done finance
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  Speaker 4: on mortgages and things like that before, these can be
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  Speaker 4: unique properties. You know, if you don't know what you're doing,
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  Speaker 4: just looking for a standard conventional loan or something like that,
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  Speaker 4: and you don't have you don't know how to do
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  Speaker 4: some of these things. You have to know how to
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  Speaker 4: pick pick and choose your way through these different loan
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  Speaker 4: programs and find the right thing that matches up with
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  Speaker 4: with the homeowner or the potential homeowner that you're working with.
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  Speaker 5: Right very diverse. You have rural areas, obviously urban areas
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  Speaker 5: as well, so so we see a lot of a
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  Speaker 5: lot of different loan types.
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  Speaker 4: When we when we talk about and and and that
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  Speaker 4: is and that goes for you out there. If you
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  Speaker 4: find yourself in kind of a unique situation as far
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  Speaker 4: as not sure what to do with your loan, this
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  Speaker 4: is a great opportunity. Maybe if Dan can't even necessarily
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  Speaker 4: help you out with a program that he has, and
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  Speaker 4: he may very well have the program that you need
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  Speaker 4: you can at least maybe get rid of some of
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  Speaker 4: the ambiguity that you're not under. You're not sure about
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  Speaker 4: with your loan situation. If you have like some sort
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  Speaker 4: of a combo property or something along those lines, you're
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  Speaker 4: not really sure how that works, or you just came
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  Speaker 4: out through some sort of intense legal thing. If you
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  Speaker 4: need some direction on this, you can give us a
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  Speaker 4: call this morning. Dan can help you out. Three zero
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  Speaker 4: four three four five fifty eight fifty eight. Three zero four,
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  Speaker 4: three four five fifty eight fifty eight. One of the
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  Speaker 4: things I thought would be interesting for us to just
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  Speaker 4: to for you to touch one for just a moment.
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  Speaker 4: Of course, depending on where you are in life, you
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  Speaker 4: may have bought or refinanced houses many times at this point.
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  Speaker 3: As far as.
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  Speaker 4: The today goes the environment today, for folks that have
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  Speaker 4: you been in this, they've been alive, you know, they've
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  Speaker 4: bought houses, they've refinanced, they've done different things. What's different
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  Speaker 4: today than maybe in the recent past.
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  Speaker 5: Well, the biggest differences are that folks are more into
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  Speaker 5: into the online borrowing, and that comes with challenges that
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  Speaker 5: you don't see. First of all, you're going to get
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  Speaker 5: inundated with offers and a lot of high pressure offers,
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  Speaker 5: so that that's really changed in the last four or
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  Speaker 5: five years to where the pressure that is put on
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  Speaker 5: folks that apply online and by using a credit union,
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  Speaker 5: you can you can sit down and talk things through,
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  Speaker 5: see what your options are. Because not every option is
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  Speaker 5: right for every person, and there are a lot of
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  Speaker 5: options out there.
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  Speaker 4: People need to maybe be aware that, especially if you
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  Speaker 4: go online. And I ran it wasn't really a test,
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  Speaker 4: but as we talked about before I went on here,
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  Speaker 4: I've been sort of stuck in a holding pattern for
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  Speaker 4: it seems like years now where I can't get quite
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  Speaker 4: to the position where I can expand my property the
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  Speaker 4: way that i'd want to, and we really can't get
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  Speaker 4: into the position to get into a new home. But
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  Speaker 4: if you're out there and you're looking, and I did this,
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  Speaker 4: and you know, I'm at least somewhat savvy when it
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  Speaker 4: comes to protecting my privacy online. So I have an
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  Speaker 4: email account that allows me to create alias emails, and
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  Speaker 4: I have a Google Voice number where I can spawn
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  Speaker 4: off and give that number to like, you know, instead
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  Speaker 4: of getting spam on my phone, I can give my
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  Speaker 4: Google Voice number. It just people can just ring into eternity.
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  Speaker 4: I never forget those calls, and it works out very
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  Speaker 4: well for me. But so when I first started looking
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  Speaker 4: into this, you're absolutely right. I went to one site,
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  Speaker 4: went to one site just because I wanted to poke around.
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  Speaker 4: I have experience in the mortgage industry. I worked in
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  Speaker 4: it for years, so I just needed the basics of
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  Speaker 4: what's going on now so I could kind of infer
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  Speaker 4: what my situation was going to be. I filled out
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  Speaker 4: one form just to get a little bit of information
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  Speaker 4: on kind of thing where things to decline everything else.
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  Speaker 4: No thank you, no thank you, no thank you, and
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  Speaker 4: really didn't get all the information I wanted, but got enough.
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  Speaker 4: But immediately the moment I closed that window, I started
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  Speaker 4: getting emails, I got text messages, I got voice messages
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  Speaker 4: from all kinds of different places. I guess that, boy,
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  Speaker 4: these leads that you get on these websites, you leave
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  Speaker 4: your forensic traces of your online activity behind, and those
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  Speaker 4: turn into data leads that people call, hey, I see
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  Speaker 4: that you live in Charleston, West Virginia, and you're looking
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  Speaker 4: I mean, they know way too much about you, just
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  Speaker 4: from your forensics.
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  Speaker 3: From your broth. Absolutely and frankly.
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  Speaker 4: I don't want to do business with them just because
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  Speaker 4: of the way they cut my information and makes it
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  Speaker 4: a little bit bad.
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  Speaker 5: And they're not even the really even in many cases,
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  Speaker 5: the institution you'd be doing business with in the end,
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  Speaker 5: their marketing companies they hire to try to close.
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  Speaker 4: The deal, and you have no idea what products they
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  Speaker 4: actually have. So you might be somebody up here with
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  Speaker 4: a somewhat unique situation that maybe a different kind of
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  Speaker 4: loan would work for you, but it's ten times harder
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  Speaker 4: than one that would actually work for you, that would
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  Speaker 4: fit perfectly for you. But because you went online, you
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  Speaker 4: filled out these forums, a guy calls you with a
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  Speaker 4: high pressure of tactic. Hey, this is the best interest
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  Speaker 4: rate you can get. Trust me, YadA, YadA, YadA. Before
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  Speaker 4: you know it, you signed this mortgage. Maybe it services
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  Speaker 4: what you need, maybe it doesn't. But you probably didn't
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  Speaker 4: get the best deal from the best hometown.
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  Speaker 5: A loan officer that you could have right, And it's
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  Speaker 5: hard to tell whether you got the best deal or not.
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  Speaker 3: But there are a lot of people.
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  Speaker 5: You see a lot of consumer complaints related to those
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  Speaker 5: online services, sure for that reason. At the end of
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  Speaker 5: the day, sometimes they don't get what they thought they
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  Speaker 5: were getting.
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  Speaker 4: Yeah, there's and there's in different states. When you're located
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  Speaker 4: out of state, you can hide fees in different ways,
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  Speaker 4: and it's just it's no good. If you can do
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  Speaker 4: if you can do it locally, trust me, you're gonna
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  Speaker 4: be better served and you're not gonna get inundated with
• 9:16
  Speaker 4: the spam. And you can just walk into an office
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  Speaker 4: or pick up a phone call and call somebody directly
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  Speaker 4: and get that sort of thing taken care of. By
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  Speaker 4: the way, the contact number four for the Star USA
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  Speaker 4: Federal Credit Union, that's three five to seven twenty three nineteen,
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  Speaker 4: Is that right, that's correct. Threes are four three five
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  Speaker 4: seven twenty three nineteen. Threes are four three five to
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  Speaker 4: seven twenty three nineteen. Any calls that you have before
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  Speaker 4: or after we leave the airwaves today, you can call
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  Speaker 4: us this morning at threes are four three four five
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  Speaker 4: fifty eight fifty eight. Three four five fifty eight fifty eight.
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  Speaker 4: So there there's been a lot of I don't know
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  Speaker 4: about a lot of changes, but there's been some modifications
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  Speaker 4: to the way that credits scored, especially as it comes
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  Speaker 4: to like medical debt and stuff like that. In recent years,
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  Speaker 4: credit has become people kind of forget the credit scoring
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  Speaker 4: is not really that old of a of a thing.
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  Speaker 4: I mean, we're like three or four decades into it.
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  Speaker 4: I think it's all that we are. But it's become
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  Speaker 4: such a obviously a prominent part of our financing and
• 10:09
  Speaker 4: how we get into financing and stuff. So let's talk
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  Speaker 4: a little bit about credit and what you're looking for
• 10:14
  Speaker 4: in credit and maybe what people can do to make
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  Speaker 4: sure that their credits as good as it can possibly be.
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  Speaker 5: Sure, and I'll be the first to tell you that
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  Speaker 5: credit scoring is in far from perfect and obviously that's
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  Speaker 5: not something that we as an institution controlled, Yeah, not yours.
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  Speaker 3: Yeah, yeah.
• 10:30
  Speaker 5: Just to give folks an idea what what a credit
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  Speaker 5: score is made of. And that's a question I get
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  Speaker 5: a lot of what how how do they come up
• 10:36
  Speaker 5: with my credit score? Well, there are five main factors. First,
• 10:41
  Speaker 5: is your pay history. Obviously that's forty percent of your
• 10:44
  Speaker 5: credit score. Your pay usage that's twenty three percent. I
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  Speaker 5: pay usage. That means, if you've got ten thousand dollars
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  Speaker 5: in an available line of credit, how much of that
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  Speaker 5: are you using? Are you maxed out? As a good
• 10:58
  Speaker 5: rule of thumb, there as if you should try to
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  Speaker 5: be at thirty percent or less that to maximize your
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  Speaker 5: credit score. The mix of your credit, you know, is
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  Speaker 5: it unsecured, that's eleven percent of the score. Is it unsecured?
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  Speaker 5: Is it a mortgage or is it is it an
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  Speaker 5: auto line? For example? And in recent credit, if if
• 11:18
  Speaker 5: you've got a lot of recent credit, that's that's going
• 11:20
  Speaker 5: to ing in a lot of recent inquiries, that's that's
• 11:23
  Speaker 5: going to hurt your credit score as well. That makes
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  Speaker 5: up five percent of the total. And it goes a
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  Speaker 5: little bit further too, because most lenders are looking or
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  Speaker 5: using analytics nowadays and we're no different, and they're looking away,
• 11:38
  Speaker 5: is this a thick file? Is it's a thin file?
• 11:41
  Speaker 5: And one thing we run into a lot in the
• 11:44
  Speaker 5: last several years is folks are going on they're they're
• 11:47
  Speaker 5: getting that instant bump that they're being advertised bump your
• 11:51
  Speaker 5: score every time you check this, And what happens is
• 11:55
  Speaker 5: they end up with a credit score that doesn't reflect
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  Speaker 5: their actual passe position. And when lenders are looking at
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  Speaker 5: the analytics of it, the risk isn't worth their reward
• 12:05
  Speaker 5: and those people get hurt. Because there's many cases are
• 12:08
  Speaker 5: unable to obtain credit for that reason. So obviously folks
• 12:12
  Speaker 5: need to be careful with that. But that's the makeup
• 12:16
  Speaker 5: of the credit score. And you know, we see credit
• 12:20
  Speaker 5: apps the la our loan folks do that. The credit
• 12:23
  Speaker 5: score sometimes make absolutely no sense, but buying layers it
• 12:27
  Speaker 5: does make sense.
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  Speaker 3: You have to understand.
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  Speaker 4: That's why as a consumer it's really important that you
• 12:32
  Speaker 4: can get your credit score. You can check your score,
• 12:34
  Speaker 4: you can make sure your debt, but you really need
• 12:36
  Speaker 4: to get a what's the best thing to prequalification or
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  Speaker 4: a or what I know, there's some different terminology we
• 12:42
  Speaker 4: use today, so I want to make sure they get
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  Speaker 4: the right thing right.
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  Speaker 5: Well, you can definitely get pre qualified for really any
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  Speaker 5: loan that we offer. And another thing that that people
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  Speaker 5: should do is know their credit score. And we offer
• 12:54
  Speaker 5: free product. Any member of the credit Union has a
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  Speaker 5: five dollars deposit and can can go through onto our
• 13:01
  Speaker 5: one line platform and go go to what we call
• 13:03
  Speaker 5: credit Savvy, and credit Savvy will actually track their credit score,
• 13:09
  Speaker 5: tell them what their score is, what they need to
• 13:10
  Speaker 5: do to improve it. It will tell you if you
• 13:12
  Speaker 5: get inquiries, It will tell you if there's new new
• 13:17
  Speaker 5: credit on your report. So it protects you as well.
• 13:21
  Speaker 5: And you know that's a that it is a free service,
• 13:23
  Speaker 5: and whether it be a product through us or through
• 13:28
  Speaker 5: any other institution, people need to know and understand their
• 13:31
  Speaker 5: credit score and track it and watch it.
• 13:34
  Speaker 4: If somebody is applying for a loan product with with
• 13:37
  Speaker 4: a story o S a federal credit union, that's that
• 13:40
  Speaker 4: would only be a one credit poll thing too, so
• 13:42
  Speaker 4: that you guys would be able to find the right product,
• 13:44
  Speaker 4: the right the right loan for that person and you
• 13:47
  Speaker 4: don't have to pull their credit six or seven different times.
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  Speaker 5: That's correct, unless something really crazy is.
• 13:53
  Speaker 3: Going on, right right, yeah, I mean there's always a
• 13:55
  Speaker 3: right that's that's very unusual.
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  Speaker 5: And our our website is my Star USA dot com,
• 14:04
  Speaker 5: so folks can go on. They can apply online, which
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  Speaker 5: is it is unfortunately the way the world it is headed,
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  Speaker 5: whether we like it or not. But any any loan
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  Speaker 5: that that remember, whether it be mortgage, auto, unsecured, you
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  Speaker 5: can not only apply online, but you can reach out
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  Speaker 5: to us and get try to get pre approved if you.
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  Speaker 4: Like, as far as target number for credit score goes.
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  Speaker 4: If somebody's out there and assuming everything is right, they
• 14:34
  Speaker 4: have a depth of history, they have what would be
• 14:36
  Speaker 4: considered a fairly typical credit profile, except for their score
• 14:39
  Speaker 4: needs to go up in some way, shape or form.
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  Speaker 4: What is sort of the once you reach this level,
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  Speaker 4: if all other considerations are in line, this opens up
• 14:48
  Speaker 4: the toolbox for you. What is the level that people
• 14:50
  Speaker 4: should should kind of shoot for now?
• 14:52
  Speaker 5: Well, it depends on type of loan you're looking for,
• 14:55
  Speaker 5: So that's that's kind of a broad question. But usually
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  Speaker 5: in the seven twenty range would be a good score.
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  Speaker 5: That that does not mean that you can't get a loan.
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  Speaker 4: You have.
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  Speaker 5: A score less than that, and we look at a
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  Speaker 5: lot of loans that obviously fall fullow seven hundred as
• 15:13
  Speaker 5: an example, And there are factors that take in consideration.
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  Speaker 5: Let's say you that you have a six seventy or
• 15:19
  Speaker 5: six' eighty credit score and you're struggling to get a
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  Speaker 5: good loan, deal and if you've got a little saving set,
• 15:24
  Speaker 5: aside or you've got some, equity that helps your situation.
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  Speaker 5: Greatly not only what can it help with your, rate
• 15:30
  Speaker 5: but give you an opportunity to be approved and moving.
• 15:34
  Speaker 5: Forward because you had equity to begin, with you're going
• 15:37
  Speaker 5: to be in a better situation than when that loan pays, off.
• 15:40
  Speaker 4: And that makes a lot of sense to. Me that's
• 15:41
  Speaker 4: incorporating like some common sense to underwriting guidelines into like
• 15:46
  Speaker 4: just the straight credit. Score, sure you have the credit
• 15:47
  Speaker 4: score that's sort of gives you a starting, place but
• 15:49
  Speaker 4: you have to have factors that could either elevate or
• 15:52
  Speaker 4: or maybe depreciate the risk factor of the. Loan you
• 15:55
  Speaker 4: have enough elevating factors in, there you can get loans
• 15:58
  Speaker 4: to go through even if your credit score a little
• 16:00
  Speaker 4: bit in the gray.
• 16:00
  Speaker 3: AREA i guess that's.
• 16:01
  Speaker 5: Correct and we see a lot of borrowers that are
• 16:05
  Speaker 5: that are upside down and that that makes a difference
• 16:08
  Speaker 5: too when they're trading. Cars and then we see folks
• 16:13
  Speaker 5: that maybe don't have such a great credit, score but
• 16:15
  Speaker 5: they've got equity because they've done things. Right and so
• 16:18
  Speaker 5: every situation is, different and we look at each individual.
• 16:22
  Speaker 5: Loan it's, not, yes we run through credit scoring, models
• 16:26
  Speaker 5: but at the end of the, day every loan that comes,
• 16:27
  Speaker 5: through we're looking at to see if there's a way
• 16:29
  Speaker 5: we can make the.
• 16:30
  Speaker 4: Loan and the last bit on credit score THAT i
• 16:32
  Speaker 4: throw out, there just BECAUSE i had some experience with,
• 16:34
  Speaker 4: THIS i just pulled the government used TO i don't
• 16:37
  Speaker 4: know if it still. Does but the government used to
• 16:39
  Speaker 4: give you a free credit, score one from each bureau every.
• 16:41
  Speaker 4: Year you could you could pull one from each bureau
• 16:44
  Speaker 4: or give at least credit. REPORT i don't think they
• 16:46
  Speaker 4: all necessarily have the score attached to, it BUT i
• 16:47
  Speaker 4: did that when it's about twelve or thirteen years ago
• 16:50
  Speaker 4: AND i had okay, credit but the score wasn't WHERE
• 16:53
  Speaker 4: i really wanted it to. Be AND i noticed BECAUSE
• 16:55
  Speaker 4: i had moved around a lot AND i owned businesses
• 16:57
  Speaker 4: and things like, THAT i had noticed on my credit
• 16:59
  Speaker 4: report there was like four there were things on there
• 17:01
  Speaker 4: that one thing was way paid off and it was
• 17:04
  Speaker 4: still showing up when my credit report is. OUTSTANDING i
• 17:09
  Speaker 4: had something on there that was from a family member
• 17:11
  Speaker 4: that somehow got bled over onto my. Account there was
• 17:13
  Speaker 4: some anomalies that were on my. Credit it took a
• 17:15
  Speaker 4: little bit of time that, frankly it wasn't that.
• 17:18
  Speaker 3: BAD i.
• 17:18
  Speaker 4: Worked there was a number THAT i. Called they told
• 17:21
  Speaker 4: me what to go Through to do, IT i had
• 17:22
  Speaker 4: to make some. SCANS i got. Some, Luckily i'm a
• 17:24
  Speaker 4: decent record, keeper SO i had the records in. PLACE
• 17:27
  Speaker 4: i sent the stuff over. There it took like sixty
• 17:29
  Speaker 4: days for it to be removed from my credit. Report
• 17:31
  Speaker 4: but my score went up like one hundred and twenty
• 17:33
  Speaker 4: points after getting that stuff taken care of one and
• 17:35
  Speaker 4: ever since then it's just been, up up and. Up
• 17:37
  Speaker 4: it really FIXED i guess the leakiness of what my
• 17:41
  Speaker 4: report was doing because there was a bunch of stuff on.
• 17:42
  Speaker 4: There there was an accurate and everything's.
• 17:44
  Speaker 6: Fine.
• 17:44
  Speaker 4: Now it might take a little, work but if you
• 17:46
  Speaker 4: have some anomalies on, there you can repair. Mistakes if
• 17:50
  Speaker 4: you missed a mortgage, payment you're not gonna be able
• 17:51
  Speaker 4: to fix that miss mortgage payments a miss mortgage, Payment
• 17:54
  Speaker 4: but if there's stuff on there that are kind of
• 17:56
  Speaker 4: mistakes or things that you can't get cleared, off it
• 17:57
  Speaker 4: is possible to do.
• 17:58
  Speaker 3: It the credit agencies will work with you want it.
• 18:00
  Speaker 5: Right in our credit score program THAT i mentioned, Earlier
• 18:03
  Speaker 5: Credit savvy will actually tell a, Member, hell here's what
• 18:07
  Speaker 5: you need to, do here's where you, are here's what's your,
• 18:10
  Speaker 5: negative and here's what you need to do to get
• 18:12
  Speaker 5: your score.
• 18:13
  Speaker 4: Higher how valuable is that for somebody that's looking to
• 18:16
  Speaker 4: get Targeted.
• 18:17
  Speaker 5: And it's perfect and it really whether you have good
• 18:21
  Speaker 5: credit or, not you need to be. Checking you need
• 18:23
  Speaker 5: to take advantage of a free service like, that so
• 18:25
  Speaker 5: you know where you.
• 18:26
  Speaker 4: Stand think about what you. Know credit means basis points
• 18:30
  Speaker 4: on interest. RATES i, mean think about what you know
• 18:32
  Speaker 4: twenty five basis points means on a thirty year, mortgage you.
• 18:35
  Speaker 4: KNOW i mean it could save you a ton of
• 18:37
  Speaker 4: money if you could just increase your. CREDIT a lover
• 18:39
  Speaker 4: to help you build up equity as you move. Forward
• 18:41
  Speaker 4: that's all great. Information if you have a, question no
• 18:44
  Speaker 4: questions are better than than listener. Questions you can give
• 18:46
  Speaker 4: us a call this morning three zero four three four
• 18:48
  Speaker 4: five fifty to fifty anything to do with with. Mortgages
• 18:50
  Speaker 4: Dan smith and is. Here he is the owner Of
• 18:53
  Speaker 4: STAR Usa Federal Credit union here In charleston and all
• 18:55
  Speaker 4: across the Southern West. Virginia and give us a call
• 18:57
  Speaker 4: this morning three zero four three four five fifty to fifty.
• 18:59
  Speaker 4: Eight three zero, four three four five fifty eight fifty.
• 19:01
  Speaker 4: Eight talking a little bit about credit and at mortgages
• 19:04
  Speaker 4: this morning, too we're gonna get a little bit more
• 19:06
  Speaker 4: into mortgage mortgage products and things along those. Lines you're
• 19:09
  Speaker 4: welcome to join in this morning and give us a.
• 19:11
  Speaker 4: Call just give us a call three zero four three
• 19:12
  Speaker 4: four five fifty eight fifty, eight or you can text
• 19:14
  Speaker 4: three zero four non three five five zero zero eight
• 19:17
  Speaker 4: three zero four non three five five zero zero. Eight
• 19:19
  Speaker 4: we're gonna go and take a. Break when we come,
• 19:20
  Speaker 4: back we still have plenty more we're going to talk.
• 19:22
  Speaker 4: About you're listening to ask The expert this. Morning this
• 19:25
  Speaker 4: is Retire Right. Radio But John bredet from Fourth ava
• 19:27
  Speaker 4: to The Financial john's not here this. Morning So Dan,
• 19:29
  Speaker 4: smithson the owner Of STAR Usa Federal Credit, union is
• 19:33
  Speaker 4: our guest this, morning and we'll be back right after.
• 19:35
  Speaker 4: This you're listening to as The expert five ADWC, hs
• 19:38
  Speaker 4: The voice Of.
• 19:38
  Speaker 7: Charleston I'm John morgan Of morgan And. MORGAN i am
• 19:41
  Speaker 7: often asked what is the value of my? Case the,
• 19:44
  Speaker 7: answer of, course depends on your, injuries liability and the
• 19:47
  Speaker 7: damage is to you, financially and it also very much
• 19:50
  Speaker 7: depends on the law firm you hire to represent.
• 19:52
  Speaker 6: You all firms are not the. Same for over thirty.
• 19:55
  Speaker 7: Years morgan And morgan has been, here and your time of,
• 19:57
  Speaker 7: need there's only One morgan And morgan.
• 20:00
  Speaker 3: Office two twenty Two Capitol, Street.
• 20:01
  Speaker 8: Charleston pieces will be handled By West virginia licensed.
• 20:04
  Speaker 6: Attorneys the attorney in the sat is not licensed In West.
• 20:07
  Speaker 2: Virginia for the people dot, Com.
• 20:09
  Speaker 8: Hi I'm Abraham, jones project manager WITH. Cec as a
• 20:12
  Speaker 8: Proud Fairmount state grad with thirty years in the natural gas,
• 20:15
  Speaker 8: Industry i've really seen it, all but WHEN i wanted
• 20:17
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• 20:20
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  Speaker 6: Virginia find out WHAT cec can do for. You visit
• 20:36
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  Speaker 9: Com this is Retire Ripe radio With John burdett From
• 20:42
  Speaker 9: Fourth Avenue, financial taking your calls at three oh four
• 20:46
  Speaker 9: three four five fifty eight fifty eight or texts on
• 20:49
  Speaker 9: three oh four nine three five fifty oh.
• 20:52
  Speaker 6: Eight you're listening to for Try Ray radio On.
• 21:03
  Speaker 4: Commage he'll SEE hs The voice Of charleston a special
• 21:06
  Speaker 4: program this. Morning John bredet from Forth avenue Financialporth Avenue
• 21:09
  Speaker 4: financial dot com out of town. Today john will be back,
• 21:11
  Speaker 4: tomorrow But Dan smithson is. Here he is the president
• 21:13
  Speaker 4: AND ceo Of STARR Usa Federal Credit. Union you can
• 21:17
  Speaker 4: give us a call this morning at three zero four
• 21:19
  Speaker 4: three four five fifty eight fifty, eight three four five
• 21:21
  Speaker 4: fifty eight fifteen if you have any questions about your.
• 21:23
  Speaker 4: Mortgage maybe you're in a situation where you're looking for
• 21:26
  Speaker 4: a new homing you're wondering what the how things are
• 21:28
  Speaker 4: going as far as getting qualified for that. Goes maybe
• 21:30
  Speaker 4: you're in a house and you've been waiting to refinance
• 21:33
  Speaker 4: and you're looking for an easy way to put that.
• 21:34
  Speaker 4: Together or if refinance isn't right because you have that
• 21:37
  Speaker 4: low first mortgage rate right, now maybe you're looking into
• 21:40
  Speaker 4: a heelock or a second mortgage or something like. That
• 21:42
  Speaker 4: you give us a call this morning three zero four
• 21:43
  Speaker 4: three four five fifty eight fifty eight three zero four
• 21:46
  Speaker 4: three four five fifty to. Fifty SO i guess that's
• 21:47
  Speaker 4: where we can. START i don't think we had The
• 21:51
  Speaker 4: there was some hope that we would see a plummeting
• 21:54
  Speaker 4: of the interest rates again at some point coming out
• 21:57
  Speaker 4: of inflationary measures and things along those. Lines we never
• 22:00
  Speaker 4: really saw that things. STABILIZED i guess a little. Bit
• 22:03
  Speaker 4: but you're the expert on. This where are we at
• 22:04
  Speaker 4: as far as rates go for folks looking to purchase a, Refinance.
• 22:09
  Speaker 5: Well the market rates for a thirty year fixed mortgage
• 22:14
  Speaker 5: are a little bit below seven, percent and there's a
• 22:18
  Speaker 5: lot of hope out, there particularly in the real estate,
• 22:21
  Speaker 5: community that we'll see lower interest. Rates and the big
• 22:29
  Speaker 5: big factor there is you, know what's THE fed going to?
• 22:32
  Speaker 5: Do and The fed face is facing a lot of
• 22:34
  Speaker 5: uncertainty right. Now there's the, tariffs which really have an
• 22:38
  Speaker 5: affected inflation at this, point but have the potential to
• 22:43
  Speaker 5: certainly to affect, inflation and then inflationary numbers themselves have
• 22:49
  Speaker 5: been without tariffs have been very. Stubborn so that is
• 22:55
  Speaker 5: a concern that obviously THE fed has to deal. With
• 22:59
  Speaker 5: and you, know they've got to also balance A, gdp
• 23:03
  Speaker 5: which is a little sluggish right. Now we've we've lost
• 23:07
  Speaker 5: some momentum from the green energy spending package that the
• 23:11
  Speaker 5: government had previous you, know had in the last administration
• 23:17
  Speaker 5: that's carried forward to this administration That i'm not trying
• 23:20
  Speaker 5: to get into, politics but it helped boost THE, gdp
• 23:24
  Speaker 5: right and you know that that's starting to wind. Down
• 23:27
  Speaker 5: SO gdp is not a whole lot different than where
• 23:31
  Speaker 5: it was if you take, that exclude that that government,
• 23:34
  Speaker 5: spending but it's it's still a little bit sluggish at
• 23:37
  Speaker 5: this point in. Time so The fed's in a tough.
• 23:39
  Speaker 5: Situation and what people need to understand is even if
• 23:43
  Speaker 5: they do start to lower the interest, rates that doesn't
• 23:48
  Speaker 5: mean that longer term interest rates are going to. Fall in,
• 23:52
  Speaker 5: fact most of the economists that that we use feel
• 23:57
  Speaker 5: that longer term rates are are going To if they do,
• 24:00
  Speaker 5: drop it's going to be a minimal.
• 24:01
  Speaker 4: Drop so that's Uh so for folks that are that
• 24:06
  Speaker 4: are holding out and hoping that there's going to be
• 24:08
  Speaker 4: like a sudden drop of interest rates or something like,
• 24:11
  Speaker 4: that you're really anything that happens for the most, part
• 24:14
  Speaker 4: but in the foreseeable future is going to be, basic
• 24:18
  Speaker 4: like small basis points. Fluctuations we're not going to see
• 24:21
  Speaker 4: a huge half point or percentage point drops over that's.
• 24:24
  Speaker 5: Correct of, course you, know anything's possible with you, know
• 24:28
  Speaker 5: look AT covid or something along those. Lines it could
• 24:31
  Speaker 5: totally change in a. Heartbeat but based on all the
• 24:35
  Speaker 5: evidence that's out there right now and what most economists
• 24:37
  Speaker 5: are are saying that we're we're not looking at, big
• 24:41
  Speaker 5: great reductions in the near.
• 24:43
  Speaker 4: Future SO i, mean you it might be AND i
• 24:47
  Speaker 4: find myself in this, situation So I'm i'm kind of
• 24:49
  Speaker 4: putting myself in the listeners stead here and to ask these.
• 24:52
  Speaker 4: Questions it might be a situation where things just are
• 24:56
  Speaker 4: how they, are you, know waiting and waiting and. Waiting
• 24:58
  Speaker 4: if there's something that you need to do and and
• 25:00
  Speaker 4: there's a way that you, can you can do it
• 25:02
  Speaker 4: now you've just been holding off because you're hoping to
• 25:04
  Speaker 4: get a little bit more. Clear there may be not
• 25:06
  Speaker 4: much of a point in. THAT i, mean try to
• 25:08
  Speaker 4: find a situation that's good for. You maybe you're in
• 25:12
  Speaker 4: a situation where you can buy down an interest rate
• 25:13
  Speaker 4: a little bit or something to make it a little
• 25:15
  Speaker 4: bit more appetizing if you have. To but waiting right,
• 25:18
  Speaker 4: now you're just waiting to wait because there's probably not
• 25:20
  Speaker 4: going to be a huge relief. Coming in, FACT i,
• 25:23
  Speaker 4: mean it might go the other way if you're not, careful.
• 25:25
  Speaker 5: Right and you know that's a good. Point you get
• 25:30
  Speaker 5: to a certain point where you certainly don't want to
• 25:32
  Speaker 5: put off repairs to home as an. Example that's What
• 25:34
  Speaker 5: i'm that's Where i'm at. Right you need to take
• 25:37
  Speaker 5: care of, business so to. Speak and that doesn't mean
• 25:41
  Speaker 5: that you can't sit, down factor in where you, stand
• 25:45
  Speaker 5: where your equity situation, is and get some get some projects.
• 25:50
  Speaker 5: Done we have right now a thirty year special it's
• 25:53
  Speaker 5: six and a half, percent which is almost a half point.
• 25:56
  Speaker 5: Lower it's good just as low as six and a
• 25:58
  Speaker 5: half percent depending on your, situation almost half point. Lower
• 26:01
  Speaker 5: twenty years it's six and a. Quarter so there are.
• 26:05
  Speaker 5: Options and if you really sit down and start looking ato,
• 26:08
  Speaker 5: payments unless you're a ridiculously low, rate which some people,
• 26:12
  Speaker 5: are it may go ahead and make sense for you
• 26:16
  Speaker 5: to do. That, also home equity loans are not as
• 26:19
  Speaker 5: evil as people.
• 26:19
  Speaker 3: THINK i, mean you've got.
• 26:20
  Speaker 5: Tax deductions that could go along with them depending on your.
• 26:24
  Speaker 5: Situation and home equity loans have been, booming not only,
• 26:28
  Speaker 5: nationwide but it's the Credit. Union we've done a lot
• 26:31
  Speaker 5: of home equity lines.
• 26:32
  Speaker 4: To educate just a little bit on home equity. Lines
• 26:37
  Speaker 4: these you get it established for it's like a second,
• 26:40
  Speaker 4: mortgage but it acts more like almost a credit card or. Something,
• 26:42
  Speaker 4: right so you have a max, balance but you don't
• 26:44
  Speaker 4: necessarily take that all out at, once and then as
• 26:47
  Speaker 4: there's a term where you can draw from right and
• 26:49
  Speaker 4: then you pay any.
• 26:50
  Speaker 3: Interest is that the way that? Works that's.
• 26:51
  Speaker 5: Correct, now we also have we have several types of second,
• 26:55
  Speaker 5: mortgage so we have the home he, locks which is
• 26:57
  Speaker 5: what you're talking, about and he locks our adjustable. Rate
• 27:03
  Speaker 5: but you have a line of, credit and you'll have
• 27:06
  Speaker 5: that line of credit for the first fifteen years and
• 27:09
  Speaker 5: THEN i might have that backwards first ten, years and
• 27:11
  Speaker 5: then the final fifteen years is your payback period and
• 27:14
  Speaker 5: it's interest only during that time fram and you, do
• 27:16
  Speaker 5: indeed get a credit. Card, now a wise consumer would
• 27:21
  Speaker 5: go ahead and make more than the minimum.
• 27:23
  Speaker 3: Payments for, sure, right.
• 27:24
  Speaker 5: And go ahead and call the credit union get an.
• 27:27
  Speaker 5: Amortization you, know here's WHAT i. Borrowed what DO i
• 27:29
  Speaker 5: need to do to be at this point where my
• 27:33
  Speaker 5: balance is xxx at a certain period of, time and
• 27:36
  Speaker 5: we'll help you help you do.
• 27:38
  Speaker 3: That is there a?
• 27:40
  Speaker 4: Minimum so could you start that process within the ten
• 27:43
  Speaker 4: year period at the start when you're first drawing from
• 27:47
  Speaker 4: it or is that going to be is it ten
• 27:49
  Speaker 4: years period and then it switches over to the pay by.
• 27:52
  Speaker 3: Period you can do?
• 27:54
  Speaker 5: That you Could you can't necessarily set your payment because
• 27:58
  Speaker 5: your payment's going to fluctuate because it's a line of,
• 28:01
  Speaker 5: credit right, right, okay, right but you can you will
• 28:06
  Speaker 5: know based on your balance and in conferring with a
• 28:10
  Speaker 5: staff member that, hey this is WHERE i need to.
• 28:12
  Speaker 4: Be i'm thinking, here like for a, helock ten years
• 28:15
  Speaker 4: is a relatively long amount of. Time i'm thinking if
• 28:17
  Speaker 4: you if you took this and you had you were
• 28:19
  Speaker 4: doing a draw and maybe you didn't even mix it
• 28:21
  Speaker 4: all out right away or whatever you're you were kind
• 28:23
  Speaker 4: of waiting on that and at some point between now
• 28:25
  Speaker 4: and that ten year period when you would normally that
• 28:27
  Speaker 4: would convert over to a to a traditional, second if
• 28:30
  Speaker 4: the interest rates dropped a, lot could you then roll
• 28:33
  Speaker 4: that in and just refinance your, home incorporate that, helock
• 28:35
  Speaker 4: and just pay the whole, absolutely because that COULD i,
• 28:38
  Speaker 4: mean if you're out there and you're in you're kind
• 28:40
  Speaker 4: of in a holding pattern thinking interest rates might, drop
• 28:42
  Speaker 4: that might be another alternate for you that gives you
• 28:44
  Speaker 4: a ten year rollout basically to find the right.
• 28:46
  Speaker 5: Opportunity or if you're in a situation where you were
• 28:49
  Speaker 5: paying extra on your mortgage now that you needed to
• 28:51
  Speaker 5: go with this home, equity you take the take the
• 28:55
  Speaker 5: extra payments you were making on the first and add
• 28:57
  Speaker 5: it to this new second so that you're paying that down.
• 29:00
  Speaker 4: Faster and of, course the risk is that the payment
• 29:02
  Speaker 4: is based off of an index off of the interest.
• 29:04
  Speaker 4: Rates so if interest rates to go up instead of,
• 29:06
  Speaker 4: down then you're even if you're not adding to the
• 29:09
  Speaker 4: principle of your draw your payments could go up because
• 29:12
  Speaker 4: the interest rates could go.
• 29:13
  Speaker 5: Up, Right but you know we're going to pre qualifies.
• 29:15
  Speaker 5: Folks it's not like we're going to put someone in
• 29:17
  Speaker 5: a situation where they can't make the.
• 29:19
  Speaker 3: Payments and there's limits right to how. Far there's limits to.
• 29:21
  Speaker 5: How far you can go and how far they go
• 29:23
  Speaker 5: up in each particular. Period and it just gives you
• 29:26
  Speaker 5: a lot of flexibility because then you've got that moving.
• 29:28
  Speaker 5: Forward let's say you do this deck project and you
• 29:31
  Speaker 5: find out that the missus decided you need a roof
• 29:34
  Speaker 5: over that, Deck, well then you can go back, in,
• 29:36
  Speaker 5: right you don't have to redo the. Paperwork and how
• 29:39
  Speaker 5: equities are. EASY i, mean you get to proceeds.
• 29:41
  Speaker 4: The sort of Where i'm leaning honestly, This i've been
• 29:43
  Speaker 4: doing some research for about two weeks, now AND i
• 29:45
  Speaker 4: think that this might be like my best solution to
• 29:48
  Speaker 4: WHERE i am right, now the second mortgage I've i've been.
• 29:51
  Speaker 4: Conditioned you, KNOW i think that as consumers were, conditioned they're.
• 29:54
  Speaker 3: Horrible they're, Horrible they're, Horrible.
• 29:55
  Speaker 4: AND i think that's because people sometimes go into them
• 29:58
  Speaker 4: without their eyes completely and maybe they're going into it
• 30:01
  Speaker 4: in a desperate situation where that may not be the
• 30:03
  Speaker 4: Best the best situation to take out like a like
• 30:07
  Speaker 4: a loan against your property is when you're. Desperate maybe
• 30:10
  Speaker 4: not the best, time but if you're looking to like
• 30:12
  Speaker 4: reinvest it into the, home you're trying to make the home,
• 30:14
  Speaker 4: better it may not be a bad situation to do
• 30:17
  Speaker 4: something like that right.
• 30:17
  Speaker 3: Now, no that's exactly.
• 30:19
  Speaker 5: Right AND i guess it gets the bad rap from
• 30:23
  Speaker 5: people saying that people that were desperate and these unsc
• 30:29
  Speaker 5: scrupulous lenders go in and put a high rate second
• 30:32
  Speaker 5: mortgage on somebody's. Home you, know there's a difference between
• 30:35
  Speaker 5: that and planning and planning a loan properly and executing
• 30:41
  Speaker 5: it properly to meet your media.
• 30:43
  Speaker 4: Needs it was so predatory back in the pre crash
• 30:47
  Speaker 4: when WHEN i was in the, industry that there were
• 30:48
  Speaker 4: a competition to the company THAT i worked. For there
• 30:50
  Speaker 4: was competition that had their what it was like their
• 30:53
  Speaker 4: vacation SPECIAL i can't remember what, was but basically it
• 30:56
  Speaker 4: was encouraging people to take out like small, heelocks or
• 30:58
  Speaker 4: to refinance or do whatever to pull equity out of
• 31:00
  Speaker 4: their home.
• 31:01
  Speaker 2: To go on.
• 31:01
  Speaker 4: Vacation that makes no, sense it's zero. Sense but people
• 31:05
  Speaker 4: did it because they found. Themselves you, know they had
• 31:07
  Speaker 4: great credit with a twelve percent interest rate and fifty
• 31:09
  Speaker 4: percent equity in their. Home so why WOULDN'T i want
• 31:11
  Speaker 4: to refinance pull out twenty grand and my payment doesn't.
• 31:14
  Speaker 4: Change that sounds, great, Right so you realize how much
• 31:17
  Speaker 4: you're paying Bike.
• 31:18
  Speaker 5: And we have people that use home equities for a
• 31:20
  Speaker 5: lot of, things putting kids through college now good, investment
• 31:24
  Speaker 5: so you know there's a lot of purposes for the
• 31:28
  Speaker 5: home equity. Loans and we also have fixed rate second
• 31:31
  Speaker 5: mortgages if you're worried, about, HEY i don't want the
• 31:34
  Speaker 5: temptation of using this as a line of, credit OR
• 31:37
  Speaker 5: i don't want this credit card that goes with. It
• 31:40
  Speaker 5: fixed rates are actually lower than the addressable rates right
• 31:43
  Speaker 5: now and you can lock in and have peace of
• 31:46
  Speaker 5: mind and KNOWING i will have this thing paid off
• 31:48
  Speaker 5: in a certain period of, time.
• 31:49
  Speaker 4: So it's like a traditional second, mortgage and you can that.
• 31:52
  Speaker 4: Way you can just set it and you know exactly
• 31:54
  Speaker 4: what's going to, happen and you can you can roll
• 31:56
  Speaker 4: it out that way and again down the. Line if
• 31:58
  Speaker 4: interest rates are, dropping it looks like you have the
• 32:00
  Speaker 4: equity and everything for, it you could roll that into
• 32:01
  Speaker 4: your first, again maybe cut term off of your first
• 32:03
  Speaker 4: and maybe save some money that. WAY i, mean there's
• 32:05
  Speaker 4: options out there exactly that we're having a great conversation this.
• 32:09
  Speaker 4: Morning would love for you to direct the last few
• 32:12
  Speaker 4: minutes of the. Program you're more than welcome to do
• 32:13
  Speaker 4: that and give us a call at three zero four
• 32:14
  Speaker 4: three four five fifty eight fifty. Eight you can text
• 32:16
  Speaker 4: three zero four non three five five zero zero. EIGHT
• 32:18
  Speaker 4: i better text check our text.
• 32:20
  Speaker 3: Line in a.
• 32:20
  Speaker 4: MOMENT i haven't done that in just a little. While
• 32:23
  Speaker 4: another THING i thought we could touch on that you
• 32:24
  Speaker 4: mentioned we have a couple of minutes left in the.
• 32:26
  Speaker 4: Program we touched on being careful going online filling out
• 32:31
  Speaker 4: the information because of all the information that you'll get
• 32:33
  Speaker 4: back with people maybe offering legitimate. Products but there's just
• 32:37
  Speaker 4: a lot of gray area out. There but there's also
• 32:39
  Speaker 4: just straight up. Scams not necessarily people just bat at
• 32:43
  Speaker 4: their jobs giving you a product that doesn't fit. Perfectly
• 32:45
  Speaker 4: but there's people out there just trying to separate you
• 32:48
  Speaker 4: from your. Money and that's something. Else when you're dealing
• 32:50
  Speaker 4: with a lot of stuff online and giving people information and,
• 32:52
  Speaker 4: stuff look, at you got to be.
• 32:53
  Speaker 5: Very, careful Right and we see a lot of a
• 32:57
  Speaker 5: lot of. Scams dale obviously as a chief financial institution
• 33:02
  Speaker 5: for many of our members that they're they're running their
• 33:06
  Speaker 5: accounts through us and all their finances are handled through
• 33:09
  Speaker 5: the Credit. Union and we see the romance, scams which are,
• 33:14
  Speaker 5: disheartening but you know, it it happens to. Folks they're,
• 33:17
  Speaker 5: lonely and what seems real on the outset from the
• 33:22
  Speaker 5: outside is not real when you get right.
• 33:25
  Speaker 4: Down so are these people making contact and convincing folks
• 33:28
  Speaker 4: to take out like mortgages or second.
• 33:30
  Speaker 5: Mortgages or just to give them, money or to run
• 33:34
  Speaker 5: checks through their account here's this, check or to help
• 33:37
  Speaker 5: them under. Money we see the romance, Scams we see
• 33:41
  Speaker 5: the fake government. Scams you, Know i'm with the, Government
• 33:44
  Speaker 5: i'm with The Secret. SERVICE i need all your. Information you,
• 33:47
  Speaker 5: know when you get calls like, that take a step.
• 33:51
  Speaker 5: Back don't let the emotion of the, Moment, hey, Gosh
• 33:55
  Speaker 5: i'm in trouble kind of. Emotion don't let that influence
• 33:58
  Speaker 5: you and take a step back and really think why
• 34:02
  Speaker 5: why did they need this? Information And i'm you, know,
• 34:06
  Speaker 5: Shoot i'm gonna call my local law enforcement find out
• 34:09
  Speaker 5: whether it's true or.
• 34:10
  Speaker 4: Not that's what anytime we've had somebody who need it
• 34:12
  Speaker 4: from The attorney general office or anything, else separate from
• 34:15
  Speaker 4: the phone, call find the agency and call them by.
• 34:16
  Speaker 4: Yourself if you can't find somebody that knows what you're talking,
• 34:19
  Speaker 4: about you might have been being, scammed.
• 34:22
  Speaker 5: Right or that the whole concept of you, KNOW i
• 34:25
  Speaker 5: don't have an. Account can you help me cash this?
• 34:28
  Speaker 5: Check i'll give you part of the money because you
• 34:31
  Speaker 5: Know i'm having a hard. Time i'm in difficult, times
• 34:34
  Speaker 5: and can you help me out? Here And i'll help you. Out,
• 34:37
  Speaker 5: well you, know these these checks are bad, checks and
• 34:41
  Speaker 5: you become a money, mule which can subject you to
• 34:44
  Speaker 5: prosecution in that. Situation so people need to be wary of.
• 34:47
  Speaker 5: Those if it's too good to be, true someone's coming to, You,
• 34:51
  Speaker 5: hey help me out And i'll give you. Something it
• 34:54
  Speaker 5: probably is too good to be, true and you need
• 34:56
  Speaker 5: to be.
• 34:56
  Speaker 4: AWARE i found out a couple of years ago that
• 34:58
  Speaker 4: the folks that work at places Like West Ring, union
• 35:00
  Speaker 4: like usually A Western union is just at your drug
• 35:03
  Speaker 4: store or something like. That you, know they're not allowed
• 35:05
  Speaker 4: to question what you're sending the money. For so even
• 35:08
  Speaker 4: if they're, like, man your your grandson really isn't in
• 35:11
  Speaker 4: A nigerian, prison you, know like like they want to
• 35:14
  Speaker 4: tell you, that but they're actually not allowed, to and
• 35:17
  Speaker 4: so that makes that's a whole other level of you
• 35:20
  Speaker 4: just need ton't be aware out.
• 35:21
  Speaker 5: There, Right and we do question, folks that's part of
• 35:25
  Speaker 5: part of our, job and all federally charge institutions will do,
• 35:30
  Speaker 5: that but those those scams are really. Prominent and if
• 35:36
  Speaker 5: it's too good to be, true or if you're in
• 35:39
  Speaker 5: a relationship with someone that you've never actually, met take
• 35:42
  Speaker 5: a step back and think it through before you release
• 35:45
  Speaker 5: funds to someone in that.
• 35:46
  Speaker 4: Situation it's a, great great advice of course From Dan,
• 35:50
  Speaker 4: smiths and he is the president AND ceo Of STAR
• 35:53
  Speaker 4: Usa Federal Credit. Union let me get you the contact.
• 35:55
  Speaker 4: Information we're wrapping up the program. Now SO i want
• 35:57
  Speaker 4: to make sure you have plenty of information out there
• 35:59
  Speaker 4: so you can get a hold Of STAR Usa Federal Credit.
• 36:02
  Speaker 4: Union the website Is STAR USA fcu dot. Com That's
• 36:05
  Speaker 4: STAR USA fcu dot. Com and the phone number is
• 36:08
  Speaker 4: three zero four three five seven twenty three nineteen three
• 36:11
  Speaker 4: zero four three five seven two three one NINE u
• 36:15
  Speaker 4: is the number to call to get a hold of.
• 36:16
  Speaker 3: You is that? Right, damn that's.
• 36:17
  Speaker 4: Correct and folks that are calling in whether it has
• 36:20
  Speaker 4: to do with mortgageses anything along those, lines they can
• 36:21
  Speaker 4: just make the call first and they'll go through a
• 36:23
  Speaker 4: fact finding process and find out though maybe what paperwork
• 36:26
  Speaker 4: they need.
• 36:26
  Speaker 3: To have the next time they. Call, absolutely that's great.
• 36:29
  Speaker 4: Information as, Always once, again the phone number then me
• 36:31
  Speaker 4: give it to you one more time so you can
• 36:32
  Speaker 4: give them a. Call three zero four three five seven
• 36:34
  Speaker 4: twenty three nineteen three zero four three five seven twenty
• 36:37
  Speaker 4: three nineteen three five seven twenty three nineteen Day and
• 36:39
  Speaker 4: thank you so much for your time. Today really appreciate.
• 36:41
  Speaker 4: It i'll appreciate look.
• 36:42
  Speaker 3: Forward to talk to you next.
• 36:43
  Speaker 4: Time that's A dan smiss it the president AND ceo
• 36:46
  Speaker 4: Of START Usa Federal Credit. Union we're going to wrap
• 36:49
  Speaker 4: it up for this. Hour coming up next and we'll
• 36:51
  Speaker 4: Be Dave allen on five Eighty. Live dave AND tj
• 36:53
  Speaker 4: will be back on Talk, line and Then i'll be
• 36:55
  Speaker 4: back this afternoon with the weekly On.
• 36:58
  Speaker 3: Hotline have a great day everyone on FIVE ad w C,
• 37:00
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