Tahnk you all for answering my question. I have personally negotiated with the MI company and cut the promissory note in half with an greement of half of the original request. Payment will be very minimal at $55.00 per month however, it is over a long perid of time. The only good thing is this is an unsecured note and is interest free. I wasl also informed by the MI copany that if we are able to pay a conciderable ($5K) amount after a year, we can call them to see if they will agree to take the lump sum as payment in full to settle the note. I certainly will be giving that a try. Again, all your answers were helpful and appreciated. - Fri Aug 22 2008, 08:21
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