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Foreclosure King Faces Possible Foreclosure

11/16/10

Foreclosure King Faces Possible Foreclosure

The man known as the Florida foreclosure king is facing closure according to recent regulatory filing.

Foreclosure King Faces Possible Foreclosure

David Stern's firm, David J. Stern PA, has defaulted on a credit line and an equipment note, failing to repay an advance from Bank of America Corp. The filing also claims that the firm did not make their November office rent payment.

Stern's businesses have had their staff cut in half after Fannie Mae and Freddie Mac ended their ties with Stern's firm just two weeks ago.

Stern is being accused by attorneys general in every state of foreclosure abuse.

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