Forclosure

Refinance Gas station, Pleasantville, New Jersey

Gelt Financial just refinanced an operating Gas station and C store in Pleasantville, New Jersey. When the owner of this property found himself on the receiving end of a default notice from his bank, after going to numerous other banks and lenders Gelt refinanced the mortgage and took the risk away of his existing bank foreclosing on him. According to Jack Miller, this is not uncommon to have mortgages paying their banks perfectly and for technical or other reasons the [...]

We love it when it all works out well. Happy Borrower, Happy Gelt.

About 18 months ago we received a referral from a workout attorney, he had a client who owned a multi-location small business. Their current lender a local bank had put them in default and they stopped accepting payments from them. We looked at it quickly and issued an approval. It took about 6 months for the bank to agree but they agreed to take less then was owed and we closed the loan. The borrower could not go to [...]

Blanket Mortgage closed on 3 retail properties in foreclosure

Gelt Financial, LLC recently closed a blanket mortgage on three retail properties in foreclosure, thought a series of bank mergers the latest bank put this paying loan in default after first cutting off their line of credit. Almost putting this family owned multi location business out of business and caused major problems to them and a lot of sleepless nights. We structured a discount on the existing bank debt and refinanced it into a sable mortgage loan as part [...]