| Thank you from the bottom of my heart for taking the time to respond with your comments. I really appreciate it. Mom's interest rate is 7% fixed. Yes. She owns other property that she used as security for the loan. She's done well by paying off all but $14k of the loan already (prepay penalty period expired after 3 mos of the date the loan became effective). Because of the non-disclosure of important information on the bank's part, my mom has agreed to shop around for a different lender for the remaining $14k. Mike, you're right about this showing up as a liability on her credit report and being shown as a lien. She didn't realize that. I've been in Alabama for 3 years and I'm still surprised by a few things. Thanks again for your feedback. |
