Sorrower Loan Case

Satisfactory Essays
Loan was charged off on 1997. On 03/24/16 Borrower requested payoff amount, gross balance of $62,060.00 ($53,309.80 principal and $8,750.20 interest) / $52,751 SBA share was provided to Borrower. Borrower planned to make initial good faith payment of $10,000 and pay the remainder monthly for 2 years. However, on 04/11/16 borrower made a payment of the entire balance due and submitted payment of $52,751 SBA share of $62,060. The payment submitted is sufficient to pay off the loan in full.
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