Ladybug asked:

I checked out the loan and the interest is not too bad giving that this is a second mortgage that gives money for repairs and pay offs. The only thing I see is that it eats up all the equity and we will need to live in our home for at least 15 years before trying to sell…so that alone is the biggest decision. I am just wondering if there is anything else I should be looking for???
Thank you for the advice. The rate is 9.5% Fixed for 15 or 20 years. There is no pre payment penalty.

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