[StBernard] SBA Requirement to Sell
Westley Annis
westley at da-parish.com
Sun Jul 2 12:21:53 EDT 2006
Well Westley when we originally signed the repair loan and requested a
relocation loan the legal lady told us that they were not requireing people
to sell any more because they were flooding to market with homes (no pun
intended) but recently I was told that we would be required to sell or have
it on the market within two years. So I'm not sure what the bottom line is.
I was wondering and I guess I have to talk to a lawyer, if sba requires
someone sell and they want to keep it could a trust be set up with their
children and sold to them? Any input would be appreciated.
D
-----Original Message-----
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
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