SBA Disaster Recovery Loan repaid by HUD CDBG-DR Grants Update

Full and Partial loan amounts by category You must request from the SBA a breakdown of your loan. Structural repair or replacement of real estate and contents, non-structural.

By Murray Wennerlund published 10-3-2019 updated 1-15-2022

SBA Disaster Recovery Loan Report / Update.

Based on historical Restore LA Program timelines this is the week you need to start cleaning up your eGrants Document Files you have uploaded and get all your communications in order.

Below is a bullet list of what you need to have from the SBA in hand to secure your repayment of your SBA loan.

Full and Partial loan amounts by category: You must request from the SBA breakdown of your loan.
- Structural repair or replacement of real estate
- Contents and Non-structural

According to rumors from the Restore LA program if the homeowners and the SBA do not provided the correct information identifying the amounts used in each category the state of Louisiana Restore program will use the Maximum amount for SBA loans for contents to determine your structural repair amounts. Maximum contents is currently $40,000. The state of Louisiana will take $40,000 and subtract it from the amounts the state has determined you have received from the SBA.

To prepare yourself you should contact the SBA for your loan breakdown information: 1-800-659-2955 (Option 4) or email disastercustomerservice@sba.gov

Income Average Median Income (AMI) Adjustments to be made by the state of Louisiana Restore program when your grant is calculated.

Tax Returns or proof of income for AMI adjustments are required if your income has changed since you first applied to the HUD CDBG-DR Grant program the state of Louisiana calls Restore Homeowners Assistance Program.

If you have had an adverse change to your household income you must provide proof of income by uploading your 2017 or 2018 tax returns or your W2 or pay stubs that reflect your actual total household income.

If you had a pay increase that places you over the 120% AMI level first off, congratulations, I have no information at this time. I am reading to find a path you can take if at all possible to use the original tax filings you submitted for tax year of the flood.

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SBA contacts assigned to HUD Guidance June 20, 2019 SBA loan payoff El Paso Servicing Office

HUD Guidance June 20, 2019 outlines who and what SBA loans will be paid in full using HUD CDBG-DR federal grants and the El Paso Servicing Office office of the SBA is managing the process.

By Murray Wennerlund published 11-1-2022 updated 11-1-2022
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Federal Disaster Assistance

When you are navigating the federal disaster assistance agencies your first stop should be to the TruckAndTools.Com Disaster Resources. Every disaster agency uses the same process but not every disaster agency follows strict policy and guidance. Don't go into your disaster recovery with blind trust of your federal and state agencies that are leading the push to get you sheltered and out of the program.

SBA Repayment Reports published by phase for the State of Louisiana.

Shared information from the state of Louisiana Office of Community Development - Disaster Recovery Unit and the Department of Administration regarding the processing of US Treasury disbursements of HUD funds used to repay SBA loans.

By Murray Wennerlund published 11-1-2022 updated 11-1-2022
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Homeowners Demand SBA Status and Code Review, SBA DOB experience

The SBA Fix didnt come quick enough for those wrongfully labeled ineligible for HUD CDBG-DR grants that cover unmet needs after the disaster. Many remained homeless and are still homeless today because of the lack of concern from state managers.

By Murray Wennerlund published 11-1-2022 updated 11-1-2022
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Decline Code 34 Credit is available elsewhere.

SBA to determine whether credit in an amount needed to accomplish full disaster recovery is available from nongovernment sources on reasonable terms and conditions without creating an undue financial hardship.

By Murray Wennerlund published 10-31-2022 updated 10-31-2022
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Federal Disaster Assistance

Borrower may not use an oral statement of SBA to contradict or alter the written terms of this Note.

What the SBA customer representative says or what your loan officer says will not change the LAA section that is the loan note. Be sure you understand and read your LAA and understand your promissory note.

By Murray Wennerlund published 10-23-2022 updated 10-23-2022
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FEMA Individual and Households Program IHP Grants explained Part 1 of 2

By Murray Wennerlund 10-30-2024

FEMA may have awarded you up to 42,500 in Individual and Households grants called IHP and they may have listed that this grant is for Home Repairs. Your letter will say home repairs and you might think everything in your home is repairable, right?

FEMA Applicants may appeal the following, Eligibility, Amount, Cancellation, Rejection, denial of assistance.

By Murray Wennerlund 10-28-2024

Applicants must file their appeal within 60 days after the date that we notify the applicant of the award or denial of assistance. This article provides example appeals in proper FEMA appeals format. If you need one on one from us use the contract form.

RV and Travel Trailers used as primary residence home do qualify for IHP up to $42,500 from FEMA

By Murray Wennerlund 10-28-2024

Those who live full time in RV and Trailers can and should apply for IA and IHP if your RV or trailer was damaged in a federally declared disaster specifically a flood disaster.