Buyer’s remorse: Loans impacting grant money for Sandy victims

assetContent (15)NEW YORK (AP) — When Superstorm Sandy left Denise Erickson’s home with a collapsed foundation, a loan from the Small Business Administration looked like the best deal in town. She got more than $150,000 from the SBA to help fix her family’s Bellmore home, but the loan has left her with a $651 monthly payment and…

Posted: December 15th, 2014 | Author: | Filed under: FEMA, Hurricane Sandy, Monmouth County, Superstorm Sandy | Tags: , , , , , , | 1 Comment »

One Comment on “Buyer’s remorse: Loans impacting grant money for Sandy victims”

  1. Jim Granelli said at 8:51 am on December 15th, 2014:

    The idea that people with great credit were told that they had to take loans, was abhorrent to me; while people with bad credit would be able to get grants.

    Sure, it allowed us to get back into our home faster; but at a big financial cost.

    That house buying program was also nuts with people getting down payment money to buy houses that didn’t even have to be in the flood damaged towns, just the county.