Gelt provides foreclosure bailout loans on commercial and investment real estate.
“Jack: Hello, this is Jack and Marcy at Gelt Financial. Usually, we try to be bubbly, but this is like a little bit of a tough topic to talk about.
Marcy: Yeah, it’s kind of, um, the reality of what’s going on in the world right now.
Jack: Yeah, there are, I think the number is 6 or 7 million people being evicted or backlogged of evicted, and I think the number is 10 million or something like that in foreclosure or forbearance. So there’s millions and millions of people—
Marcy: People are struggling right now.
Jack: They’re hurting. They’re hurting. And to the extent that look, we can’t help them all, and we were debating making this right before because the truth is we can’t help them all. We don’t want you to think we can help you all. But if it’s the right deal, and the right deal is having low leverage, if your leverage is low, we can help you. We can do a foreclosure bailout or a sale-leaseback, even if you have a tenant that you can’t get in the property and need to evict. We’re looking at the collateral. In fact, we did one, Marcy, if you remember.
Jack: We did. We actually did one, and they took the property with the whole situation that there was a renter in there. And then they— we closed on the loan, and then they were going to get the renter who wasn’t paying, so he had to leave. So we do foreclosure bailouts. Again, not for every situation. The leverage has to be low. But if it’s the right situation, we’re here to give the borrowers and the owners a second, a third, or four shots at this. And we’re flexible. We can build in six months’ interest payments if the tenant’s paying or whatever. But we do foreclosure bailouts, small-dollar loan amounts. We’re here for you. Check us out. Remember, when your bank says no, we say yes. Have a great day. Oh, like the YouTube. Like the YouTube video. Like the channel. Leave your comments. I don’t know, whatever.
Marcy: All that stuff.
Jack: All that stuff. And I hope you don’t need this, and we only want everyone to prosper in the U.S. and throughout the world, really.”
Category: Loan Programs
Tag: foreclosure bailouts
