Published 9-24-2019 search group HUDGuidance
Cancelled Loans: Cancelled loans are loans (or portions of loans) that were initially accepted, but for a variety of reasons, all or a portion of the loan amount was not disbursed and is no longer available to the applicant. The cancelled loan amount is the amount that is no longer available. The loan cancellation may be due to default of the borrower, agreement by both parties to cancel the undisbursed portion of the loan, or expiration of the term for which the loan was available for disbursement.
The following documentation is sufficient to demonstrate that any undisbursed portion of an accepted subsidized loan is cancelled and no longer available: (a) A written communication from the lender confirming that the loan has been cancelled and undisbursed amounts are no longer available to the applicant; or (b) a legally binding agreement between the CDBG–DR grantee (or local government or subrecipient administering the CDBG–DR assistance) and the applicant that indicates that the period of availability of the loan has passed and the applicant agrees not to take actions to reinstate the loan or draw any additional undisbursed loan amounts. The documentation described above must be maintained by the grantee. Without this documentation, any approved but undisbursed portion of a subsidized loan must be included in the grantee's calculation of the total assistance amount unless another exception applies.
For cancelled SBA loans, the grantee must notify the SBA that the applicant has agreed to not take any actions to reinstate the cancelled loan or draw any additional undisbursed loan amounts.
Research Resources:
Terms:
No inspection from FEMA? Registered and reported Minor Damage but able to live in my home? Only Remote Telephone Inspection? Home Repair Funds less than actual repairs?
#454 published 12-27-2022 updated 3-4-2023 1 min. 9 seconds read, search group Inspection.
If your manufactured home was damaged or developed unhealthy living conditions after a declared disaster due to the disaster can I receive a grant to replace my mobile home?
#443 published 1-23-2023 updated 3-4-2023 1 min. 26 seconds read, search group Manufactured Home.
Restore Louisiana Homeowner Assistance Program will provide assistance to homeowners who need to demolish and reconstruct their disaster damaged home.
#449 published 1-14-2023 26 seconds read, search group Damage.
How to use our Research Based Learning pages to better understand a subject, to collect the missing pieces of the puzzle, to start a research project or to close out your research project. Resources published here are parts or segments of..
#1 published 12-30-2018 updated 12-12-2020 1 min. 55 seconds read, search group HowToResearch.
INTERNSHIP OPPORTUNITY: NON-PAID OVERWORKED NONPARTISAN
#241 published 4-23-2020 1 min. 9 seconds read, search group PSA.
SBA Updates data processed from research between 11-2019 and 12-2019
#183 published 1-18-2020 3 min. 25 seconds read, search group SBALoans.
CDBG DR Award calculation letter determination on the eligibility of your grant.
#182 published 12-26-2019 2 min. 42 seconds read, search group GrantAwardLetter.
State of Louisiana Restore LA Program managed by the OCD-DRU says it will not pay interest on SBA loans.
#181 published 12-15-2019 2 min. 40 seconds read, search group HUDGuidance.
Understanding your SBA Phase and following the HUD disbursements of funds to pay off or pay down your SBA loan
#180 published 12-10-2019 3 min. 34 seconds read, search group SBA.
Questions for Congressman Graves Live Facebook event 12-5-2019
#179 published 12-5-2019 4 min. 24 seconds read, search group Transparency.