Update

So, last night, I mentioned our difficulties with PRIMERICA and our debt consolidation. Well, I just wanted to fill you in on the latest happenings.

First, last night, I contacted AMERIQUEST and spoke with two gentlemen there -- Andy and Jason. Both men confirmed that it is not illegal for Primerica to give us our credit reports. In fact, Jason assured me that, even though it is not routine to give out credit reports for second mortgages, he would give it to us, if we went with Ameriquest. So, I gave Jason our information and he will be calling me back at 1PM today. I'll fill you in on whether or not it is a better deal.

Second, Cheryl went through our paperwork this AM from Primerica. They even say in there that they will provide us with our credit report.

I know that it might seem a little silly to not take a loan merely because of one issue, but if they are willing to lie and tell us that something they choose not to do is illegal, what else are they hiding? As I say, don't blow smoke up my skirt and tell me it is foggy!

Finally, one point. We've signed up for a SmartLoan with Primerica. Their representatives informed us that they were the only ones who offered this particular loan. Another fallacy.

According to Jason at Ameriquest, there are other companies who offer the same type of loan, even though they are rare and difficult to find.

Here's how the loan works -- in brief -- It should be noted that I am not a mortgage person and I do not have professional knowledge of how this works.

To continue...

You take our a loan and make arrangements to pay bi-weekly. So, say you take out a $10,000 loan for 10 years at 10% interest.

Your payment would be 132.15 per month and you would pay off the loan in 10 years. If you made the payments bi-weekly, your payments would still be 132.15 per month, but you would pay off the loan sooner -- roughly in five years.

I don't have a table with which I can demostrate, but I'll post one when I get one for you to see. Remember, I am not in a position to offer advice in this field, so you would want to double-check anything I have said.

God Bless.