Comments on: How deep can debt forgiveness go when working out a defaulted SBA guaranteed loan (or a non guaranteed bank loan)?

By: Don Todrin

Don Todrin — Sun, 17 Apr 2011 13:50:48 +0000

sounds insane, why would they want to cancel a guaranty you paid for that benefits them, sounds too unusual to be true. Something is wrong here

By: McIntyre

McIntyre — Thu, 07 Apr 2011 01:45:23 +0000

This is a very good site: my situation is completely different, I applied to the SBA for a 7A loan gaurantee, They gave me the green light to find a local bank to write the loan. After the bank got the SBA gaurantee, they went and changed the name of the borrower from my company’s name to myself and my wife. they also had the documents notorized and witness by one of their employee who signed twice (as notary & witness). Then they send a letter to the SBA asking the SBA to cancelled the gaurantee without ever notifying me. Whe I became aware of the fraud, the bank went to court immedeately and obtain a judgement then threaten foreclosure. We filed a 60b motion . now the bank sold the note to a debt buyer who has now filed foreclosure.

By: home affordable refinance program

home affordable refinance program — Wed, 20 Oct 2010 17:56:07 +0000

Super-Duper site! I am loving it!! Will come back again – taking you feeds also, Thanks.