We are here to help our borrowers through the financing process. When one of them was short $150,000.00 on a mixed-use property, we lent them the additional money. One of the many advantages of Gelt Financial private lending is we are always here working for our borrowers when the unexpected happens.
“Hey, this is Jack Miller at Gelt Financial. I hope you’re having a great day. We’re having a good day here at Gelt. It’s early, but we’re having a good day, and we’re gonna make it a good day. I wanted to tell you about something that happened the other day, Wednesday. I believe we made a loan to someone about nine months ago. It was a big rehab in New York. I think it was Brooklyn. If I’m correct, it was two or three apartments and two or three stores below, but it was a mixed-use property.
And sometimes, people run short. They run $150,000 short on the rehab, and we provided them an additional $150,000 after closing. This happens all the time. Borrowers always run short, and because we hold our paper, we don’t sell our paper on the secondary market. We stay with them. We help them. There’s always problems. There’s always things that come up, and we lent them the additional $150,000.
Most lenders won’t do that. We did it. We got the deal done in a day or two, and it was done. We gave her the money to complete the job. That’s one of the benefits you get of borrowing money at Gelt. It’s dealing with the same people throughout the process. Take care, have a good day, and like the YouTube channel. Hit the bell of the whistle or whatever the thing is, and you’ll be notified of more videos. Take care and have a great day.”
Category: Loan Programs
Tag: second mortgage
