[StBernard] SBA Requirement to Sell

[Westley Annis]

Yes Westley,
I closed on a relocation loan in February and that is part of the loan
agreement.  I was told by the legal department that under the circumstances
of the devastation in St. Bernard that they understand that it may not be
possible to sell the property within that time frame.  I understood that
whenever it was sold the money had to be used to pay down the loan.
PD


> -----------------------------------------------------

> Has anyone who is dealing with SBA and a relocation loan been told 

> that they must sell their old property within two years to pay down their

loan?

>

> Westley

>