Hopefully that home equity line will save him. While I’m sure the broker did tell him they would consolidate the 5 advances, the merchant knew what he was doing.

I love the line about having a lender that will provide them a 5 year term to consolidate the advances. Why not just go to them in the first place. Because they don’t exist. And deep down the merchant knows it, too. They just want to have someone to blame when everything crumbles.