Tauber faces foreclosures in Bay Harbor Islands
The are two foreclosure lawsuits pending against Florida developer Irwin Tauber. These lawsuits, filed by MUNB Loan Holdings, include commercial and multi-family properties in Bay Harbor Islands.
The largest of the two cases against Tauber involves Island Club Towers and Royal Club Towers. In a previously settled case, Tauber signed off on new terms agreeing to repay the amounts owed on the construction liens.
Estate Home in Pinecrest Facing Foreclosure
Jose Boschetti is a co-developer of Stritter Estates, a residential project in Pinecrest. This project is among many properties in that area that are now facing foreclosure. The mortgage in this case is approximately $8 million.
The First Bank of Puerto Rico has filed an action against Boschetti for the Pinecrest property in Miami-Dade County. This is the third lawsuit filed against him. Aside from First Bank of Puerto Rico, the City National Bank of Florida and Fannie Mae have also filed foreclosure actions against Boschetti.
Is Mortgage Fraud on the Rise?
According to the latest Interthinx’s Mortgage Fraud Risk Report, mortgage fraud is on the rise and more and more people are becoming victims. To many, it seems like everywhere you turn there are con artists looking to take advantage of unsuspecting people.
The report indicates Florida is ranked #4 for mortgage fraud risk. Here’s the order of the top five states with the highest mortgage fraud rates:
- California
- Nevada
- Arizona
- Florida
- Colorado
Understandably, this is alarming news for first time home buyers, and can undoubtedly contribute negatively to the real estate market. There are steps that should be taken in order to protect yourself from being a victim of these scams.
