Hard times in NM

[billjordan1972]

My question is in regards to the SBA Loan program. I currently own a restaurant in Roswell, NM and it has fallen on hard times. Back when I purchased the business my partner and I had to personaly guarentee the SBA loan. The SBA also put a second mortgage on both our homes. My question is, If I have to file for chapter 11 or 13 will I lose my home or will the filing provide adaqate protection?

 

[xylene]

My question is in regards to the SBA Loan program. I currently own a restaurant in Roswell, NM and it has fallen on hard times. Back when I purchased the business my partner and I had to personaly guarentee the SBA loan. The SBA also put a second mortgage on both our homes. My question is, If I have to file for chapter 11 or 13 will I lose my home or will the filing provide adaqate protection?

With so much at stake, talk to a bankruptcy lawyer immediately.