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There are times when the borrower requests a portion of the SBA 504
secured property be released. This can be due to a new project on
the existing land, a request from a local government agency needing
an easement, or other changes in the area that require a portion of
the collateral to be taken out of the existing held security. When this happens, the borrower must contact Preferred. Preferred
will work with them and the SBA to gain both SBA's approval for the
release and also to rewrite the existing documentation including the
creation and recording of a new title and Deed-of Trust.
Often these can be complex transactions and take a significant
amount of time. The borrower should begin working with Preferred as
soon as they are aware of the request.
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