Todd Chrisley specializes in serving clients via the management and disposition of non-performing real estate assets termed REO.
A real estate owned property, or REO, is classified as such if a lender is unable to sell a foreclosed upon asset at auction. Properties that are assumed by the mortgage company that originated the loan are considered REO after both the owner fails to service the loan, resulting in foreclosure, and then an unsuccessful foreclosure auction or trustee sale by the lender. At this point, the contract loan is dissolved and the asset returns to the books of the lender. Major lenders (banks, government sponsored agencies, etc.) are hampered by these toxic assets lingering on their balance sheet.
Chrisley Asset Management
Firms like Chrisley Asset Management, founded and owned by Todd Chrisley, are dedicated to servicing the needs of lenders who seek to rid themselves of non-performing assets. After an unsuccessful foreclosure auction, lenders may seek out a third party to salvage some of the asset. Major lenders have turned to Todd Chrisley for years to help administer and dispose of properties that would otherwise continue to devalue without a buyer.
Working with the lender, Todd leverages his extensive experience dealing with loan originators and brokers to obtain the best value for all parties.Todd performs a wide range of REO services including, but not limited to:
