Bank of America has filed a pending foreclosure suit against the Hampton Inn and Suites in Cape Coral, according to records from the Lee County Clerk of Courts.
Borrowers for the local hotel include three principles, Elmer Tabor, Fred Hirschovits and Greg Eagle and Cape Hotel Suites, LLC, according to those records. The suit was filed in June and although technically could result in Bank of America taking ownership of the hotel, Tabor said the owners are in negotiations for a mortgage modification.
“We are in a very friendly mortgage modification discussion,” said Tabor.
The foreclosure process in Lee County can take as long as 18 months, he said, but expectations are that the issue will be settled in a minimum of three months.
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