Mr.Riley： How do you do？

    Richard： Hello.

    Mr.Riley： I'm Ralph Riley.

    Richard： I'm Richard Stewart, and this is my wife, Marilyn.

    Mr.Riley： Pleased to meet you.

    Marilyn： Likewise, Mr.Riley.

    MR.Riley： Please, sit down. What can I do for you？

    Richard： We'd like to discuss a mortgage.

    Marilyn： For a house.

    Mr.Riley： Fine. Are you buying a house or are you reinancing your present home？

    Richard： We're planning to buy a house.

    Marilyn： And we'd like to find out about a mortgage.

    Richard： We are customers of the bank. As a matter of fact, my whole Family banks here.

    Mr.Riley： I have some questions to ask. Do you own your house or do you rent？

    Richard： Neither. We live with my parents, Dr. and Mrs. Philip Stewart.

    Mr.Riley： And how old are you？

    Marilyn： I'm twenty-nine.

    Richard： I'm thirty.

    Mr.RIley： And, Mr. Stewat, what is your occupation？

    RIchard： I'm a freelance photographer.

    Mr.Riley： And, Mrs. Stewart, are you working？

    Marilyn： Yes. I'm a designer, and I work in a boutique.

    Mr.Riley： Did you bring any savings or salary information？ Last year's tax forms？

    Richard： Yes. Here they are.

    Mr. Riley： OK. What……what kind of house did you have in mind？

    Richard： We're talking about buying a two-bedroom house in Mount Kisco. Here are the financial details on the house.

    Mr.Riley： Thank you. Are you prepared to make a ten-percent down payment？

    Richard： Yes, we are.

    Mr.Riley： Payments over thirty years？

    Richard： Yes.

    Marilyn： Do you think we can get a loan？

    Mr.Riley： Well, it depends. Do you own any other property？ Any stocks or bonds？

    Richard： No.

    Mr.Riley： I see. Then you don't have any collateral. Perhaps you could get a guarantor- someone to sign for the loan for you.

    Richard： Why is that necessary？

    Mr.Riley： Since you don't have enough income, and you don't already own any property, the bank needs to be sure you can pay the mortgage every month. A guarantor is responsible for the loan if you can't make the payments.

    Richard： I see. Well, the idea of buying a house is exciting.

    Marilyn： Thank you, Mr.Riley. We'll read this over carefully.

    Mr.Riley： Thank you.

    Richard： Good-bye. Thanks.

    Mr.Riley： Godd-bye. And hope to see you soon.

    Richard： I hope so, too.

    Mr.Riley： Take care.

    Marilyn： Good-bye.

    Richard： It all sounded so easy until they mentioned needing collateral or a guarantor.

    Marilyn： We have no collateral.

    Richard： And I don't think it's a good idea to ask Dad to sign as a guarantor. I don't feel right about it.

    Marilyn： I understand your feelings about it, Richard.

    Ellen： Now, tell me, what's the problem？

    Marilyn： We can get a loan from the bank if we can put up some collateral.

    Richard： And we don't own anything to use as collateral.

    Marilyn： Or someone can sign with us as a guarantor.

    Ellen： Why don't you speak to Dad？

    Richard： No. If we buy a house, I want to be able to handle it alone.

    Ellen： Everybody needs help sometimes, Richard.

    Marilyn： I understand Richard's feelings about it, Ellen.

    Richard： In two or three months, I'll have an advance on my book and be able to put more money down.

    Marilyn： What about the house in Mount Kisco？ Somebody else'll buy it by then.

    Richard： Then there'll be other houses, Marilyn.

    Ellen： Richard has a point. You're just beginning to look.

    Marilyn： We're in no great rush. It's true.

    Richard： This has been a great learning experience for us, Marilyn. Talking to the real-estate agent. Looking at the houses. Talking to the loan officer at the bank.

    Marilyn： It has been a learning experience. That's true.

    Ellen： I think you're doing the right thing. Taking your time. Looking around. Especially with a purchase of this kind. You're talking about a lot of money.

    Marilyn： We'll call Mrs. Martinelli and tell her to keep looking for us.

    Richard： And I'll call Mr.Riley at the bank and tell him we'll see him in a couple of months.

    Ellen： And if you ever need Dad or me to help you……

    Marilyn： We know.

    Ellen： You know we'll be there for you.

    Richard： It's a Stewart tradition. We're a family.