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Updated over 1 year ago on . Most recent reply
Unlocking home equity with SBA lien?
I have a significant amount of equity in my personal residence that I currently cannot access due to an SBA lien from a business purchase 2.5 years ago. This lien is currently sitting in 3rd place behind my primary mortgage and a heloc (with zero balance). The SBA bank does not want to refi and take cash out as it lowers their equity stake. Now, when I orginated the SBA loan, my equity in the home was x, now it has grown to 1.7x. I would like to access some of this for outside investing but cannot find a solution. Am I missing some way to make this happen or some alternate solution?
Secondary question, does the SBA lien have access to the full amount of equity I now have or just the original amount from the loan start?
Thanks in advance