Aspen Lake Capital, a real estate solutions provider in the secondary mortgage market, has launched REO (Real Estate Owned) and asset acquisition services. The company supports investment and commercial banks, hard money and warehouse lenders, individual investors, regional and community banks by acquiring non-performing residential and/or commercial mortgages and REOs in pools.
For lenders and financial institutions, Aspen Lake Capital will now provide an exit strategy to improve their balance sheet and lending capability. The company then leverages construction, real estate and remodeling, selling assets in one of two ways, such as, in as-is condition to new home buyers who have the ability to renovate for the strongest ROI or in fully refurbished condition. Property is sold as individual assets or in portfolio pools.
Al Cronemiller, principal of Aspen Lake Capital, said: “We’re thrilled to offer win/win strategies for sellers, borrowers, buyers and communities. Our company is driven to revitalize neighborhoods that have been negatively impacted by the global economic crisis, while also providing access to home ownership opportunities for countless individuals and families nationwide.”
