Things have been a little quiet in the default world for the last few weeks. However, there were some interesting stories and developments that you may find interesting. I'll give you the Cliff's Notes version...

By
Real Estate Agent with Starlight Realty Certified REO & Short Sale Specialist

In an ironic twist, Bank of America files a foreclosure lawsuit against the holder of a building where BofA has offices!

At least it will be convenient for BofA to serve the default notices...I wonder who will get this as an REO listing...imagine the Cash for Keys conversation the BofA listing agent will have with the tenants...Bank of America!

I just hope they don't trash the place on the way out...

Bank of America filed a foreclosure lawsuit on May 17 against One Boynton LLC over the 21,552 square-foot financial building located at 114 N. Federal Highway. This lawsuit concerns a loan last modified at $7.5 million four years ago.

Bank of America appears here on the tenants list. The building has separate drive through and it offers 18,000 square-feet for lease at $420,000 a year.

The building was acquired for $9 million in 2005 by One Boynton, a company managed by Davis Camalier. According to lawsuit documents, and Charles Glausier, who represents Bank of America in the lawsuit One Boyton has $7.5 million as outstanding debt on the building.

Thanks to Michele McClintock for sharing this story.

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