How to Obtain a SBA Loan – FrugalTech
admin | May 11, 2010 | 4 comments
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www.frugalbrothers.com I have received many requests to talk about getting the funds to start or expand a small business. Here is some info on how the SBA works. Distributed by Tubemogul.
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Filed Under: Personal Loans
No one will "take over" your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments.
If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can question your lender to "rehabilitate" your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.
only if their credit allows it, if they are not capable of taking on your loan on top of what they're already paying, then most banks wouldn't allow it.
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holy craaap this is made? of epic win!
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okay? thats just scary! :Lbr/made me lol though (: