Montura Builder Not Making Payments Claim Many
CLEWISTON, FL. -- Miami based home builder and investment company Pilar Home Developers, Inc. and it's owner Vivianca P. Aguilar are being sued by lender Equitymax, Inc. for alleged non-payment on mortgages and notes on nineteen different parcels of land in Montura Ranch Estates in Hendry county, Fl. according to suits filed this month in LaBelle.
Pilar Home Developers bought over 200 parcels of mostly one and one-quarter acre lots in Montura Ranch in 2005 and 2006 paying about $35,000 to $40,000 for each lot, purchased from hundreds of individual owners. The Hendry Tax Appraiser says most of the Montura vacant lots are appraised for 2006 at about $30,000 each, with property taxes about $900 each.
Pilar marketed the lots for sale with new homes for $234,000 to $706,000. Most Pilar homes for sale were listed in the $280,000 range, considerably above the affordable range for most Hendry county buyers. Unfortunately the real estate market started slowing down at about the same time as other builders started putting up new homes throughout the county, and current home owners put their homes on the market hoping to cash in on higher and higher prices. The result was an over supply of homes for sale and not enough buyers.
Mercy Pina-Brito, a spokesperson for the Pilar Home Developers company, told a local reporter that they are unable to complete many homes due to the slow down in the market and investors' failure to continue funding the company. Attorney David Bakalar, Hollywood, Fl. filed the foreclosure papers against Pilar July 13 at the Hendry courthouse. Included in the filing are several subcontractors with subordinate liens, listed as defendants including LaBelle Carpet and Tile Outlet, Inc. and several painting contractors and cabinet companies.
Pilar Home Developer, Inc. Leaves Others Unpaid
Other companies providing services to Pilar are claiming non-payments as well, including Antonio Serrano of LaBelle. He owns Antonio's Tie Beam, Inc. and says he provided service to Pilar on two properties and hasn't been paid. He filed claims of lien at the county courthouse.
Montura Land And Cattle Co., Inc. filed a foreclosure suit against Pilar on July 11 on two parcels, alleging non-payment on a land contract. Okeechobee Air Conditioning and Refrigeration, Inc. on July 3 filed two liens for services not paid.
Gary Scott Miller, owner of a mortgage, filed a foreclosure naming Pilar Home Development on July 16. BG Investment Services, Inc. filed two foreclosure suits also on July 16, as did G.A.M.E. Investment, Inc. on yet another Montura land parcel. Linda and Joseph Yeager filed a foreclosure suit July 17 against Pilar, also claiming non-payment. United Subcontractors, Inc. of Sebring has filed numerous claims of lien in the last several months against Pilar for providing insulation in Pilar homes.