The Real Deal Miami

Wellington-based foreclosure vulture files for Chapter 11

Company owns 17 homes, most were foreclosed

February 26, 2015 01:45PM

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A foreclosed home for sale

An investor that has been buying Palm Beach County homes over the last two years has filed Chapter 11 reorganization for $5.2 million in mortgages.

Assets Overseas, a Wellington-based company owned by Karla Carillo and Estrella Parada Gonzalez, reportedly filed for bankruptcy on Feb. 19. 

The company owns 17 homes, most of which were purchased during foreclosure auctions between 2012 and 2014, the South Florida Business Journal reported.

Jeffrey Harrington, the debtors’ lawyer, told the publication that many of the foreclosures came from homeowner association liens, leaving the mortgages behind. This caused property values to become lopsided. His client hopes to reorganize its debt.

While most of the mortgages came with the purchased properties, the company reportedly took out three additional mortgages. [South Florida Business Journal]Sean Stewart-Muniz

  • Emetrio Sacar

    The mortgage business is sometimes risky and if you were buying properties through bids to foreclosure there is even more risk and by making a mistake like leaving the mortgages behind , it just makes you see that such was not a responsible and careful company
    I would be more that outraged if my realtor causes me these kinds of problems
    I’m fine with people i trust as

    http://www.irgcorporation.com

    that explain me absolutely everything and teach me clearly the process and the transaction.

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