With 1.65 percent of its homes facing foreclosure, South Florida posted the country’s highest foreclosure rate in Florida in June, according to RealtyTrac. [more]
Posts Tagged ‘foreclosure’
Foreclosures are down in Palm Beach County.
During the first half of the year, the number is down 50 percent compared to the same time in 2013. There were 3,199 new foreclosures filed between January and June, the lowest amount since 2006 when 1,886 foreclosures were filed during the same period. [more]
Miami-based Lennar Homes purchased a 20.5-acre site from OptimumBank for $3.25 million last week, closing the deal at a 43 percent discount to its foreclosed mortgage.
The agricultural site, which sits west of Lake Worth, was seized by the Plantation-based bank in 2011 after it foreclosed on Marquez Jones Joint Venture’s $5.67 million mortgage. [more]
A foreclosure lawsuit filed by Miami-based West End Trust has targeted a commercial condominium building in Coral Gables.
West End Trust filed the lawsuit against Urbanism 814, which owns the property at 814 Ponce, on June 27. The lawsuit concerns two mortgages that were modified for a combined $3.48 million in 2010 by U.S. Century Bank. The Doral-based bank then sold the mortgages to West End Trust in 2012.
Urbanism 814 purchased 23 of the office condos in 2007, in addition to a 13,472-square-foot parking lot, but managed to sell only 18 of the units.
Both phases of the Village Shoppes in Royal Palm Beach are now in foreclosure.
Sutherland Asset I, an affiliate of New York-based Sutherland Asset Management, has filed a foreclosure lawsuit against the Centre II, along with managing members Joseph Cogen and Alan Cogen. The lawsuit concerns a mortgage last modified at $11.1 million in 2010, according to the South Florida Business Journal. [more]
An industrial building in Hialeah has been saved from foreclosure after the owner sold the property for $5.5 million — to himself.
Miami attorney Geoffery Aaronson told the South Florida Business Journal that the buyer is the same ownership group as the seller. [more]
The chief judge in Palm Beach County courts has reduced the speed by which foreclosure cases would go through the court system under a new order.
Judge Jeffrey Colbath amended an order providing defense attorneys with 10 days to set a hearing after filing motions. The legislation would have given them five days. Also, a judge would not be able to deny a motion without a written order under the amended legislation. [more]
Disbarred attorney David J. Stern was hit with an $831,110 judgment in what could be the first successful class action lawsuit against the onetime foreclosure mogul.
A class of more than 1,100 homeowners won the judgment last week in Palm Beach County Court, the Palm Beach Post reported. The homeowners filed suit against Stern’s former law firm in 2009 over charges related to additional foreclosure summonses delivered on behalf of unknown individuals with purported claims on their properties. Loxahatchee homeowner Rory Hewitt, who is fighting his own foreclosure, represented the class. [more]
Florida Supreme Court officially disbarred onetime foreclosure mogul David J. Stern, who is facing charges of fraud and legal misconduct.
Palm Beach County Circuit Judge Nancy Perez, acting as a referee, said she made the decision based on Stern’s refusal to accept responsibility for the errors of his former Plantation foreclosure defense firm. In November, Stern decided not to protest her call for his disbarment. [more]
Alabama-based Regions Bank filed a foreclosure lawsuit last month against Lucky Start Executive Plaza in an effort to seize a 69,189-square-foot office plaza in the Miami-Dade suburb of West Kendall.
The landlord built the plaza at 8785 Southwest 165th Avenue, near North Kendall Drive, in 2008. The mortgage was modified a year later, at $16.45 million and a maturity date of February last year. [more]