The Tides Hotel in Miami Beach. (Credit: Daniel Di Palma via Wikimedia Commons) Third DCA Rules in Favor of Borrower in Foreclosure of Tides Hotel in Miami Beach
"Justice is catching up with, 'Safe Harbor,' whose business model, as observed in the Third District opinion, is to acquire pre-existing loans and 'mine the loan histories' to 'exploit' opportunities to obtain 'retroactive default interest,'" Dennis Richard, a partner at Richard & Richard who represents the borrower, said in an email.
May 13, 2024 at 03:10 PM
4 minute read
Real Estate
Florida's Third District Court of Appeal reversed a final summary judgment of a foreclosure ruling on the Tides Hotel in Miami Beach by the Miami-Dade Circuit Court, which—before it was reversed—allowed over $20 million in retroactively calculated default interest on a loan.
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