Hormigueros · Benavento, Lavadero, Jaguita y · Estancias del Río I

This is a mortgage foreclosure and contract enforcement action brought by PR Recovery and Development REO, LLC against Cadamar, Inc. and three individuals. The lender is foreclosing on two separate properties to recover $260,043.26 owed as of October 2020, including $160,076.55 principal, $99,966.71 accrued interest compounding daily, and $12,000 in costs and legal fees. The first property is a 4,499.497 m² rural lot in Añasco with a $60,000 minimum bid. The second is an 84,642.9459 m² rural parcel in Hormigueros with a $40,000 minimum bid. Both mortgages originated with the Banco de Desarrollo Económico para Puerto Rico in February 2009 and were later assigned to the plaintiff. The Añasco property is free of prior liens, while the Hormigueros parcel is subject to easements for the water authority, the Commonwealth, and the telephone company, plus restrictive covenants. Investors should confirm title, lien status, physical condition, access, and zoning before bidding. Cash or certified check required.