Gelt Financial buys Multi Family Debt in Chapter 11 Bankruptcy
Gelt Financial, LLC is pleased to announce that is has purchased the debt of two Multi Family mortgages that are in Chapter 11 Bankruptcy. According to Jack Miller, Gelt’s president, “we have been purchasing opportunistic debt since 1990 when our first purchase was a 13 Million portfolio of credit card debt from the Resolution Trust Corporation, along the way we have purchased portfolios of consumer discount paper, tax liens, and many commercial mortgages”. In 2006 Barron’s wrote a piece on one of our deals and talked about us as leaders in the market. http://www.barrons.com/articles/SB114023016631477757)
“We are always looking for opportunities and ready to execute a deal quickly,” said Jack Miller, Gelt thinks in the coming years this will be an active market for us. Miller notes that Gelt has decades of experience in this area and we don’t shy away from complicated transactions.
For more information please contact JackMiller@Geltfinancial.com
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