An SBA Guaranteed Loan Workout





I speak with people all the time that decide to do it themselves. They figure they can fill out the forms themselves and save the fee, so why pay for expert opinion to represent them in negotiating a workout, ‘after all what could be the big deal, I have nothing to give them.’ How wrong could one be.


No matter what you have heard, defaulted SBA guaranteed loans can be resolved favorably for the borrower.

Monday, May 17, 2010

The Magic of a Loan Workout

The reality is clear and simple: You borrowed money, personally guaranteed it (possibly your spouse also guaranteed it) placing your home as additional collateral, then you breached the agreement as you cannot pay the debt service. Now what? Foreclosure, liquidation by auction and the remaining amount due falls onto your personal guaranty.

Read the whole article The Magic of a Loan Workout, Associated Content
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