[00:01.26]A Place of Our Own
[00:05.97]ACT III
[00:08.01]How do you do?
[00:09.70]Hello.
[00:11.43]I'm Ralph Riley.
[00:12.50]I'm Richard Stewart, and this is my wife, Marilyn.
[00:15.11]Pleased to meet you.
[00:15.75]Likewise, Mr. Riley.
[00:16.55]Please, sit down. What can I do for you?
[00:21.29]We'd like to discuss a mortgage.
[00:24.07]For a house.
[00:25.00]Fine. Are you buying a house
[00:27.37]or are you refinancing your present home?
[00:29.27]We're planning to buy a house.
[00:31.15]And we'd like to find out about a mortgage.
[00:33.47]We are customers of the bank.
[00:35.41]As a matter of fact, my whole family banks here.
[00:38.38]I have some questions to ask.
[00:41.74]Do you own your house or do you rent?
[00:44.24]Neither.
[00:45.19]We live with my parents, Dr. and Mrs. Philip Stewart.
[00:50.25]And how old are you?
[00:52.25]I'm twenty-nine.
[00:53.23]I'm thirty.
[00:55.70]And, Mr. Stewart, what is your occupation?
[00:58.51]I'm a freelance photographer.
[01:00.37]And, Mrs. Stewart, are you working?
[01:01.90]Yes. I'm a designer, and I work in a boutique.
[01:05.37]Did you bring any savings or salary information?
[01:07.95]Last year's tax forms?
[01:09.20]Yes. Here they are.
[01:17.28]OK. What ... what kind of house did you have in mind?
[01:19.97]We're talking about buying
[01:21.09]a two-bedroom house in Mount Kisco.
[01:23.37]Here are the financial details on the house.
[01:29.48]Thank you.
[01:30.41]Are you prepared to make a ten-percent down payment?
[01:31.92]Yes, we are.
[01:33.69]Payments over thirty years?
[01:35.51]Yes.
[01:39.37]Do you think we can get a loan?
[01:41.80]Well, it depends. Do you own any other property?
[01:46.34]Any stocks or bonds?
[01:49.45]No.
[01:51.55]I see. Then you don't have any collateral.
[01:56.21]Perhaps you could get a guarantor--
[01:58.53]someone to sign for the loan for you.
[02:01.17]Why is that necessary?
[02:03.23]Since you don't have enough income,
[02:04.58]and you don't already own any property,
[02:06.69]the bank needs to be sure
[02:08.02]you can pay the mortgage every month.
[02:09.92]A guarantor is responsible for the loan
[02:11.91]if you can't make the payments.
[02:14.21]I see. Well, the idea of buying a house is exciting.
[02:21.08]Thank you, Mr. Riley. We'll read this over carefully.
[02:24.87]Thank you.
[02:25.93]Good-bye. Thanks.
[02:27.00]Good-bye. And hope to see you soon.
[02:30.61]I hope so, too.
[02:31.28]Take care.
[02:32.54]Good-bye.
[02:52.54]It all sounded so easy
[02:53.44]until they mentioned needing collateral or a guarantor.
[02:57.67]We have no collateral.
[03:00.69]And I don't think it's a good idea
[03:02.05]to ask Dad to sign as a guarantor.
[03:05.25]I don't feel right about it.
[03:06.82]I understand your feelings about it, Richard.
[03:22.16]We can get a loan from the bank
[03:30.06][03:25.43]if we can put up some collateral.
[03:31.41]And we don't own anything to use as collateral.
[03:33.65]Or someone can sign with us as a guarantor.
[03:39.27]Why don't you speak to Dad?
[03:41.18]No. If we buy a house, I want to be able to handle it alone.
[03:46.33]Everybody needs help sometimes, Richard.
[03:49.52]I understand Richard's feelings about it, Ellen.
[03:51.69]In two or three months, I'll have an advance on my book
[03:54.53]and be able to put more money down.
[03:57.57]What about the house in Mount Kisco?
[04:00.86]Somebody else'll buy it by then.
[04:02.92]Then there'll be other houses, Marilyn.
[04:05.79]Richard has a point. You're just beginning to look. Richard
[04:10.39]We're in no great rush. It's true.
[04:11.45]This has been a great learning experience for us, Marilyn.
[04:13.63]Talking to the real-estate agent.
[04:15.72]Looking at the houses.
[04:18.07]Talking to the loan officer at the bank.
[04:21.89]It has been a learning experience. That's true.
[04:24.02]I think you're doing the right thing. Taking your time.
[04:26.74]Looking around. Especially with a purchase of this kind.
[04:30.18]You're talking about a lot of money.
[04:33.74]We'll call Mrs. Martinelli and tell her to keep looking for us.
[04:37.21]And I'll call Mr. Riley at the bank
[04:42.20]and tell him we'll see him in a couple of months.
[04:42.88]And if you ever need Dad or me to help you ...
[04:45.22]We know.
[04:46.30]You know we'll be there for you.
[04:48.48]It's a Stewart tradition. We're a family.