04-20-2008, 12:54 PM
| | Junior Member | | Join Date: Mar 2008
Posts: 4
| | | business property foreclosure
What is the name of your state? ohio.
I own a business with property and it is very hard for me to pay mortgage from the business income. I was thinking of doing foreclosure. I have SBA baacked loan with 75% gurantee. I have signed a personal gurantee but I do not have much assets. If I foreclose on the property what are the consequences I would have to face? Please let me know. Thank you. |
04-20-2008, 01:47 PM
| | Senior Member | | Join Date: Jan 2003
Posts: 17,307
| | | How do YOU foreclose on the property? You aren't the lender.
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