we [husband &I] took out a loan with them in nov.2007 we asked if there was a penalty to pay off early we were told no [our loan is for 9+% and we are trying to lower our interest rate as we no longer can afford these payments of over $823 not counting taxes and insurance. plus they never send us any paper work except at tax time when they sent us our interest [which was over $7000] On this tax paper we find out we are stuck with a pre-paid interest of over $2000 this was never mentioned when we took out the loan. i know we were stupid for taking a loan with this kind of payment but our financial situation was better until everything in this country went down EXCEPT our interest rate THE PRE-PAID INTEREST really makes me angry because they didn't disclose this info to us and we have had 3 other home loans and quite a few car loans and we haver never, never ever had this happen before. and we have tried but they won't even talk to us about a lower interest rate until 1/1010.
to OUR FAMILY AND FRIENDS THEY have never heard of such a practice.Although this should make no difference this is a second home

carolyn and gayle boyd
these kind of loan co. are a disgrace to our great country.