Broker Scenario #1
Blanket Mortgage
Problem: Client is looking for funds to pay substantial CRA debt. Insufficient equity in primary residence to complete the mortgage.
Graysbrook Capital Solution: Client owns a second rental property with a small mortgage against it. Adding the second property to the scenario provided sufficient equity to complete the deal and pay the CRA debt. Once CRA debt was paid, client was able to refinance with the bank and pay us out.
Broker Benefit: The broker was paid on both our deal and the exit.
Broker Scenario #2
Downsizing
Problem: A retired couple own a 2 storey home which is now too big for them at this stage in their lives. Realtor advised them on improvements needed to maximize the selling price. Clients are on a fixed income, so did not qualify to borrow renovation funds from the bank.
Graysbrook Capital Solution: The broker brought the deal to us and we paid out the 1st mortgage and gave them the money for the renovations and added in their monthly payment into the mortgage.
Broker Benefit: Clients used the broker for the purchase of the next home.
