In 2006 we rewrote our second mortgage to put a new roof on our house. At the signing table the bank switched us from a fixed to a balloon. They knew we already had contracts signed on the roof. In 2009 when the balloon matured they again forced us into another balloon. The principal of the loan decrease over three years of payments was negated by the life insurance needed on the loan and the interest rate increase would insure that we will have this debt forever and unless we die. The loan will never be paid off. This is counter productive to the aid our government gave the banks and they were to recipricate to the American People.
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