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August 2014 Archives

Be cautious about filing for personal bankruptcy to avoid foreclosure

The South Florida Business Journal reports that real estate company Lauren Enterprises and two of its mangers in Coral Springs was recently hit with a $7 million foreclosure judgment in connection with a $3.77 million mortgage. In response to the foreclosure judgment, the company filed for Chapter 11 bankruptcy in order to “get some breathing room to negotiate with the bank.”

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