Tuesday, September 25, 2012

Interesting filings regarding #306

#306 is the old Rodney C. Smith unit that NCC filed foreclosure on 11/1/2011 and it was sold at auction to Jeffrey J. Osterhout for $14,300, on 4/10/12. By this time local Attorney Denise H. Rowan Fla Bar #0564532, representing Hancock Bank of Mississippi, had also filed a Lis Pendens.

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Earlier this month the unit was delinquent by $1,158.75, to the Association in unpaid dues, this has probably grown by another $675 for unpaid 4th quarter dues.

The temporary owner, Jeffrey Osterhout, of 1112 Arthur Ave, Panama City and Paula J Coffey of  9106 Jamaica Bch, Galveston, Tx, created a Limited Liability Company 8/28/12 called JOPC, LLC (just their first and last initials) and then, on 8/29/12 Osterhout transferred by the unit Quit Claim deed to JOPC, LLC for $100.  This is usually done to avoid any personal liability.
Osterhout and Coffey, at some future time, through their LLC, will have to deal with the 8/6/07 mortgage of $197,600 written by Peoples First Community Bank, which is now being handled by Hancock Bank, with Hancock attorney Rowan, filing 'Lis Pendens' on the unit 3/30/2012.

Neither Osterhout or the new LLC can sell this unit as in Florida the holder of the first mortgage has the best claim to the unit.

If this unit is now rented, or is rented in the future, it might be a good idea to move immediately to compel any tenant to pay directly to the Association, any rental payments until the delinquency is paid off.