The SBA is willing to release a mortgage/lien so that the owner can sell or refinance under the right circumstances. Here’s what you need to know.
This is a huge issue which we frequently confront on many different fronts. Let’s assume an SBA loan was not used to purchase the property. Many may believe that the property cannot be sold or financed because the subordinate lien cannot be satisfied. There is the additional possibility that typically the property is not worth the first and second mortgages, if there is one, and that the attached SBA lien is entirely underwater. But, https://www.speedycashloan.net/loans/2500-dollar-payday-loan/ this issue of the lien remains a huge problem as there will never be any value unless the subordinate SBA lien is removed.