Miami-Dade County May Lose $1 Million Due to Foreclosures
Miami-Dade County could lose its interest in a $1 million loan to the developer of the Capital Lofts in downtown Miami if the first mortgage holder succeeds in its foreclosure lawsuit.
Aventura-based investment group Capital Loft Miami filed a foreclosure lawsuit against 117 NE 1st Avenue LLC and Miami-Dade County over the 47 unsold units in the project at the same address, according to court records. The condo has recorded 13 sales since its renovation was completed in 2008.
The complaint concerns two loans totaling $26.4 million that were last modified by original lender Citibank in 2008. In November, the bank sold the loans to Capital Loft Miami, which is managed by Guy Sharon.
Shopping Center Loses Foreclosure Judgment
Quantum Village shopping center in Boynton Beach has lost a $19.1 million foreclosure judgment to BankAtlantic.
The Fort Lauderdale-based bank (NYSE: BBX) filed the foreclosure action in March 2009 against MPG Gateway and Charles H. Monroe III, chairman of Safety Harbor-based Monroe’s Prestige Group. That company has been hit with numerous shopping center foreclosures in South Florida.
Four Indicted in South Florida Mortage Scam
A former branch manager at TopDot Mortgage in Boca Raton, along with a bank vice president and a Palm Beach Gardens attorney, have been indicted by a federal grand jury in what authorities say was a mortgage scam.
The four are identified as Joseph Miller, 63, a Palm Beach Gardens attorney; Peter Hartofilis, 33, of Flushing, N.Y.; Robert Hofler, 52, of Pembroke Pines; and Steve Vento, 41, of Jupiter.
The four were charged Tuesday in U.S. District Court for the Southern District of Florida with submitting false mortgage loan applications to Washington Mutual and other lenders between January 2006 and October 2007.
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Tags: In the News, South Florida
