{"id":86614,"date":"2004-12-22T04:27:00","date_gmt":"2004-12-22T04:27:00","guid":{"rendered":"http:\/\/a1c71e69-1dfb-11e4-aedf-250bc8c9958e"},"modified":"2004-12-22T04:27:00","modified_gmt":"2004-12-22T04:27:00","slug":"a1c71e7c-1dfb-11e4-aedf-250bc8c9958e","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/a1c71e7c-1dfb-11e4-aedf-250bc8c9958e\/","title":{"rendered":"Another delinquent SBA loan lands in court"},"content":{"rendered":"<p>Texas firm LPP Mortgage Ltd. has brought another delinquent disaster loan originally acquired from the U.S. Small Business Administration to court.<\/p>\n<p>LPP filed with the Superior Court a civil action against Maria Pangelinan Kaipat to seek payment for an unpaid debt amounting to at least $42,494.41.<\/p>\n<p>The complaint alleged that Kaipat acquired the loan from the SBA in February 1995, with the borrower issuing the agency a promissory note in the amount of $36,200.<\/p>\n<p>Kaipat and the SBA modified the loan amount to $40,800 in March 1995, and to $45,000 in April that year. She secured the loan by mortgaging an 847-sqm homestead lot, which was signed by former Gov. Froilan Tenorio.<\/p>\n<p>Sometime in 2001, LPP acquired rights over numerous loans from the SBA. LPP\u2019s lawyer, Bruce Mailman, sent a notice of default to Kaipat in October 2003, according to the complaint.<\/p>\n<p>Mailman said Kaipat failed to make any payment despite demand, prompting LPP to file the court action.<\/p>\n<p>He also asked the court to foreclose the mortgaged property if Kaipat fails to pay within three months should the court decides in favor of the company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Texas firm LPP Mortgage Ltd. has brought another delinquent disaster loan originally acquired from the U.S. Small Business Administration to court.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-86614","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/86614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=86614"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/86614\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=86614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=86614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=86614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}