Hard Money Loans

Kris Alingod – AHN News Contributor Washington, DC, United States (AHN) – Senate Republicans signaled willingness on Sunday to a compromise with Democrats about extending unemployment insurance and Bush administration tax cuts. The GOP blocked Democratic attempts the previous day to keep tax breaks for the middle class, arguing that tax cuts for higher-income earners [...]

So, the small business owner cannot refinance his home or even sell it, cannot borrow again, and cannot do anything because the liens remain on himself and his home. Is this an Offer in Compromise program? No, it’s a retribution and punishment program.

Lets review. As we know, the defaulted borrower of an SBA guaranteed loan must present his Offer in Compromise to his lending banker for review and ratification and then for him to send it over to the SBA for final consideration. If deemed acceptable and appropriate, it is then sent over to the SBA where it is decided with a response to the borrower being: yes, no, or a counter-offer is provided.