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    ramo's Avatar
    ramo Posts: 1, Reputation: 1
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    #1

    Dec 21, 2007, 01:38 PM
    Leins judgements
    Can my partner purchase our defaulted SBA loan and then stand in the position of the bank and put a lien on my home and then try to forclose?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Dec 21, 2007, 04:56 PM
    If someone's buys a loan, they do not have to put a lien on it, since there is already a lien, ( mortage) people buy and sale mortages all the time, the one on my last home was sold about 4 times, to varoius mortgage companies. So to answer this, if he can purchase the defauted loan, then he can buy it and he will be the lien holder. If the loan is still in defaut, then yes they could foreclose. But I doubt they would sell him the loan, as a individual.
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