Forclosure

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 [...]