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All workout options given in this handout apply to secondary liens also. At the same time, we are investing prudently in the core products that we believe will produce acceptable returns in a weak marketand that we believe will produce better returns when the economy begins to recover. By the way, this is a California case. We will now talk with Mr Stone about what course of action can be taken. They followed up like a professional lending company should and I always felt like I was in control, from the type of loan I chose whether it be an ARM, Fixed rate, or Interest only, to rolling in the closing costs.
Shorter amortization schedules make more sense when buying items that quickly fall in value. Are you looking for a second mortgage on an existing home? If the financing is not ratified by the stockholders, then we may need to amend the terms of the financing or we may be required to rescind the purchase, which will require that we return to all purchasers of Debentures all proceeds, with interest, which we received in connection with the financing, and possibly together with any costs and expenses incurred by the purchasers as a result of such rescission. Ask about their rates and terms.
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