United States v. Day

William A. Day and Helen L. Day appeal from a district court order granting summary judgment to the government in a foreclosure action. We affirm.

The Small Business Administration (SBA) loaned money to the Days under the disaster loan program. 15 U.S.C. § 636(b). In exchange, the Days signed a promissory note and mortgaged their farmland as security for the loan.

The Days were late with their 1980 and 1981 payments. They obtained the SBA’s consent to defer the 1982 payment. After the Days failed to make the deferred payment, the SBA began foreclosure proceedings in the district court. The…