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Young Chuck in Montana bought a horse from a farmer for $100. The farmer agreed to deliver the horse the next day. The next day he drove up and said, 'Sorry son, but I have some bad news, the horse died.'

Chuck replied, 'Well, then just give me my money back.'

The farmer said, 'can’t do that. I went and spent it already.'

Chuck said, 'Ok, then, just bring me the dead horse.'

The farmer asked, 'what ya gonna do with him?

Chuck said, 'I'm going to raffle him off.'

The farmer said, 'You can't raffle off a dead horse!'

Chuck said, 'Sure I can, Watch me. I just won't tell any body he's dead.'

A month later, the farmer met up with Chuck and asked, 'What
happened with that dead horse?'

Chuck said, 'I raffled him off. I sold 500 tickets at two dollars a piece and made a profit of $998.'

The farmer said, 'Didn't anyone complain?'

Chuck said, 'Just the guy who won. So I gave him his two dollars back.'

Chuck grew up and now works for the government. He was the one who figured out how to "bail” us out

Hal Tennant

Not a day goes by that I don't hear someone in a panic over the credit crunch. The TV, radio and newspapers have us all scared we won't be able to get mortgage money or buy a car or that our credit cards will self destruct any minute now.

If that's so, why is my mailbox full of credit card solicitations and offers to refi my home?

As a mortgage lender, let me assure you that mortgage money is available. What has disappeared is the Sub-Prime, No Money Down, Stated Income type of loan. These are the loans in default - what the industry calls Non-Performing Loans.

As a matter of fact, this may be a window of opportunity for first-time homebuyers. Some experts are calling this a Perfect Storm. How can this be? Let me explain - write or call for details. Ask for the Perfect Storm report.

Hal

Aren't you glad? No more campaign ads; no more watching cable news all evening long. So what does that mean for rates?

Today's rates are significantly lower as the money sitting on the sidelines flows into the bond market. It's too soon to tell if this is a trend. If you are a student of how the economy effects rates - or maybe you have a closing coming up, log on to my Daily Rate Lock Advisory for the latest.

Hal Tennant