[StBernard] sba loans

[Westley Annis]

KM,
 
Try to get the written letter from your mortgage company stating that they
used the insurance money to call the mortgage or if you can have a mortgage
company rep actually speak directly to your SBA loan rep and explain how the
money was used by their decision not yours it may help keep the insurance
from being calculated as benefits for you.
 
Good luck and God Bless,
Craig


-----Original Message-----


>I would like to know if anyone who had flood insurance got approved for 

>a SBA loan and actually went through the whole process yet.  I was 

>declined because they said insurance proceeds meet my needs.  However, 

>I used the proceeds to pay off my mortgage with only a couple of 

>thousand

remaining.

>My mortgage company has not been helpful in supplying a demand letter 

>for me.  Was anyone successful in getting a demand letter?  Any advice 

>or further info on this would be appreciated.

>

>KM

>