[StBernard] SBA Requirement to Sell

[Westley Annis]

Reading the loan application, once you are approved for a relocation loan,
they require you to have SBA listed as the 1st lean holder on both hazzard
and flood.  Nothing about the old property.

George


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

>No personal experience, but I have heard a few friends say this is so 

>about selling the property within a certain time frame.  I want to know 

>if anyone knows if you still can get a relocation loan from SBA if you 

>have already sold the property in St. Bernard before the SBA loan 

>closing.  If so, does the SBA deduct the house sale amount from the 

>loan amount you were originally approved for?

>

>Thanks,

>Km

>