March 29th, 2024

"A company that owns 14 Palm Beach County homes after seizing them through foreclosure and operating them as rentals has filed Chapter 11 reorganization.

All 14 of those properties are facing foreclosure lawsuits stemming from the original mortgages that were placed on the homes about a decade ago. BNEVMA LLC acquired the homes by bidding in homeowner association lien foreclosure cases. Foreclosing on a homeowners association lien gives a party ownership of the property, but all mortgages that the original homeowner had remain in place and must be paid." View South Florida Business Journal Article