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21 Apr 2020, 2:30 pm by doug
Mortgages on a debtor’s principle residence can be modified under the SBRA, so long as the loan was obtained for business purposes (i.e. not to buy the house). [read post]
20 Apr 2020, 10:50 am by shmedia
Vehicle and mortgage loan statements – These statements will confirm whether you are current on your secured property or behind. [read post]
8 Apr 2020, 3:56 pm by Natalma M. McKnew and John Gotaskie
For instance: The Act allows flexible use of the loan to sustain business payroll, utilities, mortgage, rent and other expenses; the SBA mandates that at least 75% must be used for payroll. [read post]
Under this new policy, if a borrower’s ability to pay on a Fannie Mae or Freddie Mac owned loan is impaired, borrowers can temporarily delay monthly mortgage payments without incurring late fees, having delinquencies reported to credit bureaus. [read post]
3 Apr 2020, 3:59 pm by Whitney Hodges
The Ordinance directs City staff to develop a strategy to work with banks and lenders to halt mortgage payments or foreclosures for individuals and landlords who have suffered severe loss of wages and income due to the health crisis. [read post]
2 Apr 2020, 6:53 pm by Matthew Odgers
The City of San Diego Small Business Relief Fund (SBRF) Small Business Relief fund SummaryThe City of San Diego’s Small Business Relief Fund (SBRF) provides grants and forgivable or low-to-zero-interest-rate loans to eligible small businesses for working capital, such as retaining employees and sustaining continuity of business operations. [read post]
2 Apr 2020, 3:56 am
Nonetheless, it found expect that"consumers may exercise a certain degree of care in investing money, if not perhaps in seeking a mortgage loan for which they simply wish to get funded. [read post]
31 Mar 2020, 11:11 am by Thomas Major, Esq.
“Covered Properties” are:  (1) properties that participate in a federal housing program or (2)  properties that have a “federally backed mortgage  loan” or “federally backed multi-family mortgage loan”. [read post]
27 Mar 2020, 2:49 pm by doug
To modify (or “cram down” in bankruptcy lingo) a mortgage, the proceeds of the loan must have been used primarily in the business, and not primarily to buy the house. [read post]
27 Mar 2020, 1:26 pm by Kevin Kaufman
Each bank will set the interest rate for the new guaranteed loans according to the solvency and risk of each company. [read post]
27 Mar 2020, 12:28 pm by Christopher Wilkinson
This program also provides for forgiveness of the loan in an amount equal to the sum of the following costs incurred over an 8-week period after the loan is funded: payroll costs, mortgage interest, rent obligations, or any covered utility payment. [read post]
27 Mar 2020, 8:17 am
In the wake of the freeze, many banks and financial institutions have indicated that they were creating programs and making options available to help struggling homeowners avoid falling behind on their mortgage loans. [read post]
24 Mar 2020, 8:53 am by Wiggam & Geer
To be a qualified applicant for the BCLF, businesses must: Be an existing for-profit corporation, partnership, sole proprietorship, or non-profit with for-profit activities in the city of Atlanta that contributes to trade Be current on all financial obligations related to the lease or mortgage agreement for the business Have 50 or fewer full-time employees, i.e., employees working at least 30 hours per week or 130 hours per month Have been in operations for one year Have a current… [read post]
Can Mortgage Loan Originators, Underwriters and Loan Processors be Permitted to Work from Home? [read post]
21 Mar 2020, 9:33 am by Richard Symmes
If you are a renter, many states and cities have halted evictions as the nation recovers from this crisis. [read post]