Broward judge voids foreclosure auction

Homeowners and lender have battled it out in court for two years

TRD MIAMI /
Sep.September 03, 2014 01:30 PM

A Broward judge blocked the sale of a Cooper City home that yielded only $5,200 in an allegedly botched auction.

Stuart and Evelyn Finkelstein contested the sale, citing tactics used by their lender to discourage bidding and in turn win the 4,033-square-foot home at a minimum cost, the Daily Business Review reported. The Finkelsteins argued that the lender’s visible maximum bid of $550,000 chilled the competition and led to the small purchase price. Additionally,the Finkelsteins claim Evans rejected a substantial $400,000 offer for the home prior to the auction.

Judge Joel Lazarus vacated the sale and scheduled a new auction for later this month.

The Finkelstein and the lender, James D. Evans, have been fighting it out in court since 2012, when a foreclosure judgment was awarded to Evans. The lender bought out the Finkelsteins’ prior $333,000 mortgage and gave them a new one for $160,000. The foreclosure was upheld in 2013.

Evans is challenging the vacated sale. [Daily Business Review] Frank Maradiaga


Related Articles

arrow_forward_ios
Matthew Kramer, Victor Petrescu, Sebastian Jaramillo and Gov. Ron DeSantis (Getty, iStock) 

Eviction, foreclosure freeze in Florida delaying inevitable flood of cases

Eviction, foreclosure freeze in Florida delaying inevitable flood of cases
Ron DeSantis (Getty)

DeSantis extends residential foreclosure and eviction ban another month

DeSantis extends residential foreclosure and eviction ban another month
A rendering of AKAI Estates and Alex Yokanna

Luxury single-family home community in Southwest Ranches launches sales

Luxury single-family home community in Southwest Ranches launches sales
Birdman with the home (Credit: Gabriel Olsen/Getty Images)

Investor buys rapper Birdman’s Miami Beach home out of receivership

Investor buys rapper Birdman’s Miami Beach home out of receivership
Bottom row: Nick Sharp, Felix Bendersky and Jaime Sturgis; top row: Mayor Dale Holness and Mayor Carlos Gimenez (Instagram/threefoldcafe, F&B, Linkedin, Office of the Mayor, Twitter)

Restaurateurs to protest restrictions in Miami-Dade. In Broward, it’s a different story

Restaurateurs to protest restrictions in Miami-Dade. In Broward, it’s a different story
Florida governor Ron DeSantis (Credit: Joe Raedle/Getty Images)

DeSantis again extends foreclosure and eviction ban

DeSantis again extends foreclosure and eviction ban
Photo illustration of Ron DeSantis (Getty, iStock)

DeSantis announces $250M rental, mortgage assistance fund

DeSantis announces $250M rental, mortgage assistance fund
Armando Codina and James Carr, Monterra Active Adult Residences

CC Residential scores $30M loan for “active adult” rentals in Cooper City

CC Residential scores $30M loan for “active adult” rentals in Cooper City
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...