Legal Question in Business Law in New York
sba default loan
hi. i just defaulted on my sba loan. of $150,000. i used my house as collateral. i heard that the bank will be liquatading and selling the assets in my store off. im in threat of losing my house?
Asked on 2/12/07, 6:27 pm
1 Answer from Attorneys
Mark S. Moroknek
Kelly & Curtis, PLLC.
Re: sba default loan
Not if the loan is satisfied from the proceeds of your business.
Answered on 2/15/07, 8:50 pm
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