Friday, April 19, 2013

MORE ON SUPERSTORM SANDY

For individual and businesses currently in the process of obtaining SBA Loan business expansion or disaster assistance, to meet the request of the SBA for the funding package, there are property title search requirements for SBA loans which typically require the following:

Record Ownership in the name of the borrower
All Prior Liens
SBA's recorded Mortgage/Deed of Trust
Tax and Judgment Search
Copy of the Legal Description covered in Title report
Search at least 30 years

This is where a reputable title company is needed and, as a suggestion, is Title Guarantee, Inc. (especially for Long Island and in NY/NJ). Here is a link to them:

TITLE GUARANTEE SBA SERVICE

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