Butter Pecan Sauce

1/2 cup coarsely chopped pecans
2 tablespoons butter or margarine, melted
1 can sweetened condensed milk
1/2 cup water
1 teaspoon rum extract (optional)

Saut pecans in butter in a saucepan until lightly browned. Add condensed milk and water, stirring until blended. Cook over medium heat 10 minutes or until thickened, stirring occasionally.

Remove from heat; stir in rum extract. Let cool.

Makes 1 3/4 cups.