Letter: Gerbaz took a chance on us | PostIndependent.com

Letter: Gerbaz took a chance on us

Lennie and Cherie Gerbaz Oates
Aspen

We read with great interest the recent article on Ernie Gerbaz in the Post Independent. In 1967, we, recently married, had an opportunity to purchase an old home in Aspen for $10,000 (if you can imagine).

Cherie had $1,000 saved from her teacher’s salary, Lennie had nothing, trying to establish a law practice in Aspen. We approached Ernie (Cherie’s cousin) needing a $9,000 loan. At that time loans on Aspen properties were considered very risky and generally unavailable.

That notwithstanding, Ernie took a big chance, and unlike his employer, gambled and loaned us the then astronomical sum of $9,000 at 3 percent. We repaid it as agreed and it turned out our investment worked out. Our gratitude to him is everlasting.


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