From my journal: "Richard went back to work in June or July of 1970, I think he went back sooner than he should have.
Mansfield Mills was sold to So. California First which meant a lot of shares for us in So. California Bank but Richard had a hard time getting along with some of their big wheels. This was not good. They wanted to run the business different than Richard had been running it."
There was continual problems between Richard and the new owners and it put so much stress on Richard who already had a damaged heart.
"In October of 1972 Richard had an angiogram to see how his heart was doing and he only had 20% the capacity in his arteries as the rest of us do. The Dr. declared him "disabled" and he didn't have to work but...he continued to work.
Things got more ugly at work and in December of 1972 Richard was asked to leave. It was not a shock to him, but it was to me. It would certainly be better for his heart though to get out of the stock market business. Richard had a "non-compete" agreement so had to find another business besides the stock market to do. He took his disability while he thought about going into business for himself or join another firm."
Richard was often depressed during this time. He had worked so hard to master stock investing through the use of mail-order clients and would now have to start over. It was a big decision as to what he should do.
"While he stayed at home on disability, I took classes at Kelsey-Jenney (in case Richard might work at home and needed a secretary) As an older lady with a college education I found I knew a lot more about English than the young high school graduates taking classes with me and I quite enjoyed the classes though it was always a challenge for me to do multiple things all the time and do them well.
Richard had been introduced to the Second Trust Deed business by Brother Dastrup and after looking into it finally in July of 1973 he decided to join up with Richard Jones Mortgage Inc, a second trust deed company in El Cajon.
He had all the equipment at home for us to do mailers for the business and that became quite an asset to Jones Mortgage. At least I did not have to be a secretary yet, but we did have all that equipment and somebody had do that and that became my job (of course)."
Even though Richard did receive some disability pay during this time our finances were very tight and we found all that food storage we had in our garage could finally be put to use!!
It was stressful for me to be away from home so much as well as have money problems. Things became more and more stressful as we tried to bring income into the home, keep our family running smooth and maintain our church callings as well. I really did not enjoy working in the business but I was trying to help Richard and so unfortunately I kept learning more and more about working in the business world (which eventually would be an asset to me).
Letter Regarding Richard's New Employment:
"After considerable investigation into a wide range of financial counseling activities, I have decided on a business affiliation with Richard D. Jones Mortgage Services, Inc. This new association is in a field that many people do not understand...Trust Deed Investments.
A trust deed is an investment in real estate. It is a recorded document evidencing an agreement between a lender and a borrower that a parcel of real estate will be held in trust as security for a loan. Trust deed investments offer a high stated return, with a possibility of additional earnings. As a trust deed investor, you have no property management responsibility. Your ownership interest is documented on official county records. you receive a promissory note, trust agreement, and title insurance policy evidencing and protecting your interest in the property.
Trust deeds offered by Richard D. Jones Mortgage Services, Inc. are screened by our Loan Committee to ensure ample protection for you, the investor, as well as economic benefits to the borrower. Each investment offering includes details on the property represented by the deed of trust.
Investors at Jones Mortgage earn 10% per annum from the date funds are received. Additional earnings are derived from pre-payment bonuses. Most clients utilize our free Full Service Trust Deed Management Agreement which I will be pleased to discuss with you at your convenience.
Selected trust deed investments have been part of my family financial planning for many years. Now, through my association with Richard D. Jones, I can assist you in achieving the same high return on your investment dollars.
What do these services cost? Surprisingly, there is no charge to the investor. Jones Mortgage arranges trust deed loans. We find the borrower. For this we charge a fee. It is paid by the borrower, not the investor.
There is a lot more to the story. I can't tell it all in this letter, but I would like to introduce you to Richard D. Jones. Mr. Jones has been a mortgage broker for more than 20 years. He is now servicing trust deeds in excess of 3 million dollars. Not one of the firm's trust deed investors has ever suffered a loss of interest or principal.
The enclosed folder will answer a few important questions. If you would like to know more about trust deed investing, or if I can assist you in your personal financial planning, please give me a call at 460-4644.
Sincerely yours,
Richard C. Hardy"
