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…
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…
Broker Scenario #1 Construction Problem: A 6-unit town house construction mortgage with 3 draws. Client ran short of funds near end of build. Broker had pre-approved take out well above our mortgage but only after the lien period expired. Graysbrook Capital Solution: We advanced another 10% and placed restrictions on the lien holdback. Broker Benefit:Client was…