A slump in the United States’ housing bubble affects far more than just home valuations; it also has a direct impact on home builders, mortgage rates, real estate loans, home supply retail outlets, foreign bank markets and even the Wall Street hedge funds of huge institutional investors.
In 2007, the United States famously experienced a widespread credit crisis when the housing bubble burst. With rapidly increasing foreclosing rates, the U.S. Secretary of the Treasury called the bursting housing bubble “the most significant risk to our economy.” Yikes.
The credit crisis that ensued directly affected millions of Americans from every demographic and all income levels. Mr. Melton was one of those people. Once a very successful bar owner and investor, Melton began to have credit problems for the first time in his life following the crisis.
Naturally, conventional banks balked at Melton when he applied for funding. Unable to borrow the amount he needed from traditional lenders, Melton found himself on the doorstep of Gravity Capital, where we walked him through the types of real estate loans that he qualified for.
Within a short time period, Melton’s loan application was approved and he was able to acquire and rehab his newest bar – all because Gravity Capital was willing to work with him in lieu of the lenders who wouldn’t.
That’s not the end of the story, however. Melton resold that very same bar and made a cool $300,000 in the process. Yes – you understood that correctly: Mr. Melton made a $300,000 profit during a period of economic frailty – simply because he chose to work with Gravity Capital.
Are you in a similar situation as Melton? We would love to discuss your options in terms of business and real estate loans. Give us a call anytime (801-750-3838) or fill out our online loan application today to get started.
