Sunday, January 18, 2009

SBA is pulling through for us!

We got final word from the SBA that they are going to pay down the river house's mortgage in the form of a fixed rate loan. This is huge!! This enables the bank to put the insurance money we got towards the principal balance of the loan (which they were just holding on to in an escrow account). That means we don't have to continue paying the full mortgage on that house anymore. It will be rolled into the SBA loan that we already have for our new house, and the payment will be increased slightly. What a relief and a huge answer to prayer. So even though we want to get rid of the river house, the fact that the SBA is going to do this for us means that we can continue to own both houses and it will work financially - no more panic mode. Let's pray for a buyer for that house, now, so we can get rid of it for good! Thank you, Lord!

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