[StBernard] sba loans

[Westley Annis]

cathi,
 
you may want to contact the sba again. i have been told by three different
people at the sba that the lien would include my home on judy drive.  the
reason is that if and when the home on judy drive is sold, the sba wants
that money to put down on the new loan for the new house.  (imagine that,
three people with the sba gave me the same answer, haha)  craig also stated
that this is what they told him.  anyway, didn't want you to be misinformed
and counting on the money from the sale of your home in st. bernard, as you
will not get that money, it will go to the sba loan.  
 
good luck to you,
 
nancy sinopoli 
 
-------Original Message-------
 
I don't know if this will help much but here goes:
We applied for SBA and told them from the beginning it was for relocation.
I received the packet and all information on it was for my home in Meraux.
I questioned SBA about this and was told it was a formality, complete packet
and send in, then they would do a modification.  We are at that point now,
with a purchase agreement on a home in Abita Springs.  After the
modification paperwork is complete, we were told we would received a new
package with the information being on the pending home purchase.  I did,
however, have to file the SBA lien paperwork at the courthouse and the
mortgage, this was on the home in Meraux.  I was told by the SBA legal
department that these would be released once the paperwork on the new home
is completed and that the lien would be released on our Meraux home.  We are
supposed to close by the end of the month.  Once I get to that point I wi ll
gladly post the results.
I would also suggest writing a letter to SBA and sending any and all
documentation that supports your reason for relocating.  I did this in the
beginning and was told it helped in the process for relocation approval.
Good Luck!
 
Cathi