C
cholley
Guest
My husband has a loan with a bank for 85,000.00 on a piece of heavy equipment. The loan is written to Holley Hauling & Logging LLC, which is his business. The equipment is titled in his name. Since the business was setup as a partnership, they used my name too. He is 4 payments behind, and the bank is looking at liquadating him. The only option they offered was to discount the loan around 24,000.00, if he would borrow the remaining amount from another bank to pay them. He would have to have a co-signer. Our home has a first, and second mortgage. The second one is owned by this bank. If they liquadate, what happens to our home? Also, I have real estate I purchased not long ago titled in mine, and my daughter's name. The mortgage on that belongs to the finance company I work for. Can the bank come after that. I don't have a lot equity in it yet. This is in Alabama.