Broker Scenario #1
Commercial CRA Debt
Problem: Client is self employed & owns 3 commercial properties. Clients wish to retire and all three properties are for sale. Clients owe $90,000 in back taxes and wish to pay debt before properties are sold. There is a small 1st on one property, other two are owned clear.
Graysbrook Capital Solution: We issued a blanket mortgage on all three properties. As the properties sell, the client makes lump sum payments on the principal, reducing their payments.
Broker Benefit: Broker was able to provide a creative solution to help his clients.
Broker Scenario #2
Self Employed Residential Construction
Problem: Client wishes to build a home with a portion of it to be used for an existing in-home business, which they wish to expand. Client did not have a down payment.
Graysbrook Capital Solution: Clients’ mother owns her home free & clear, and was willing to put a lien against it to allow her daughter to complete the build. Mother plans to sell or refinance her home once build is complete.
Broker Benefit: Provide a solution on an otherwise declined deal.