Okay so here is a quick simple way of changing the rear brake pads. I don't know if it is the recommended way, but its how I did it and it worked for me and only took 30-45 min a side.
What You'll Need
Jack and Jack Stands
Power Bar or impact driver
Large Socket Wrench with 3/4 inch head (what I used)
Small Socket Wrench with 7/16 head (what I used)
Replacement Pads with Pressure Grease
Bottle of DOT 3 Brake Fluid
What To Do
1.) Crack bolts before lifting, its safer to do on the ground than in the air!
2.) Raise vehicle, always use jack stands, to be extra safe I stick my spare under the car as well.
3.) Remove wheel
4.) Loosen four 7/16 heads behind caliper to hand turnable, and than remove the two 3/4 mounting bolts
5.) Remove the caliper from disk
6.) Remove the four bolts from caliper body
7.) Pull the caliper body apart (you may need to tap caliper a little to loosen seam)
8.) Suspend the side that has the fluid line with a bungee cord connected to spring or shock
9.) Use your C-Clamp to compress your pistons you may also want to check your rotors for wear or damage.
10.) Remove old pads
11.) Remove rust and brake dust from caliper using wire brush
12.) Grease all metal contact point on the new pad, and the caliper. Do not grease pad surface!
13.) Reassemble caliper with new pads, don't forget the little clip that goes in between the pads
14.) After caliper is reassembled, mount on to rotor.
15.) Mount wheel
16.) Top up your Brake Fluid Resovior
17.) Pump brakes a few times before starting car to charge pistons.
Note: This post is information only, with all DIY jobs you assume the risk. With that said, I am not responsible for any issues that may arrise from attempting to install your new brake pads.
If anyone has a better method or would like to add to this post please feel free!