"Mom" is pledging a second mortage on her home for collateral. LO wants to close on loan within the three day ROR."
There is somethng wrong with a bank that would allow a debt consolidation loan be secured by someone's mother's house. They have no sense of reputational risk apparently. I see the headlines now. Bank kicks mom into the street after deadbeat son scams mother.
Ha ha, Randy....well, I think a more accurate discription would be:
Mother = Idiot
I co-signed with my daughter on a car loan one time. I have given various people hammers with which to hit me in the head should I ever decide to do that again. Nothing real bad came of it and I never had to fork over a payment (actually...didn't have one to fork over!!) but I DID take some late payment hickys on my credit and I had four years of constant monthly worrying about that dern payment!!