FAQ#: 256 published 5-29-2020
Should the applicant cancel / decline the loan or should you allow the agency (SBA) to cancel your loan?
If you follow the process of "No Communications" by not signing the loan documents SBA will follow it's agency cancellation policy and attempt to contact you before at and just past the signing expiration date. They will then wait for their loan QA department to determine you unresponsive and then decline your loan. This process is typically 60 to 90 days from the date of the loan offer.
Agency Cancellation C10. Failure to complete and return all loan closing documents.
If applicant cancels the loan and specifies a reason the SBA will note and cancel the loan at that time.
Cancellation at Borrower's Request
C20. Adequate recovery from other sources.
C21. Reluctant to incur additional debt.
C22. Dissatisfied with loan terms and conditions.
C23. Dissatisfied with insurance requirements.
C24. Unwilling to pledge collateral.
C25. Did not need all the funds. – (Borrower Decision)
C26. Other reasons. – (Borrower Decision)
C27. Dissatisfied with loan interest rate (market rate). – (Borrower Decision)
If the applicant cancels the loan without a reason the SBA will apply a reason. This method may close the door for additional federal assistance.
Louisiana homeowners with major to severe damage from hurricane Laura or Delta must document repairs.
FAQ#: 452 published 5-30-2022 2 min. 32 seconds read
Ineligible Due to Non-Responsiveness and Ineligible Due to Failure to Provide Required Documentation
FAQ#: 441 published 5-26-2022 2 min. 38 seconds read
Does the Restore Louisiana OCD-DRU HUD Grant program offer a Scheduled Draw payment?
FAQ#: 451 published 5-14-2022 1 min. 32 seconds read
Secured Federal USDA Single Family Housing Repair Loans up to $40,000 for 20 years at 1 percent interest and Grants of up to $10,000.
FAQ#: 453 published 4-19-2022 1 min. 50 seconds read
How to help homeowners with their construction projects without requiring a license in Louisiana §309. Construction Management [Formerly §119]
FAQ#: 456 published 4-19-2022 3 min. 35 seconds read
Did your state inform you that you qualify for federal assistance only to later deny you assistance based on state created policy or procedure? Is your home listed as being in one of the most impacted areas? Do you have proof your state accepted you into the federally funded HUD CDBG-DR grant program? Contact us about your experience.
SBA Reconsideration Loan: My home was hit by Hurricane Sally I am in need of an SBA loan to repair my home. Please reconsider my denied application.
FAQ#: 459 published 4-18-2022 2 min. 44 seconds read
LA, FL, TX, PR, NC are receiving billions in US taxpayer dollars to mitigate against future flood disasters. We are looking to help your county or parish find the best clearing and dredging people. Contact us about your experience.
How to calculate your Wind, Snow, Tornado and Seismic risk assessment and apply that information to better home building.
FAQ#: 458 published 3-5-2022 2 min. 31 seconds read
How do I know if my mortgage is federally backed or federally secured? COVID-19 Housing Assistance Program Appeals Process.
FAQ#: 460 published 1-13-2022 2 min. 50 seconds read
TruckAndTools.Com - Google News
Read full articles from TruckAndTools.Com and explore endless topics, magazines and more on your phone or tablet with Google News. TruckAndTools.Com - Google News.
Reconsideration of Declined Loan Applications SBA Economic Injury Disaster Loan (EIDL)
FAQ#: 235 published 4-23-2020 updated 1-4-2022 4 min. 48 seconds read
You make it your concern to help others by providing much needed information. You take all disaster recovery issues facing homeowners today and make them your Matters Under Review. If this sounds like you, visit Matters Under Review (MUR) for more information.