This is a mortgage foreclosure and debt collection action filed by Banco Popular de Puerto Rico against multiple defendants including a corporation and individual co-owners. A consent judgment entered in December 2006 ordered payment of $480,000. The property securing this debt is a three-bedroom condominium apartment in the Piedrahita Condominium in Condado, Santurce. The mortgage was originated in March 1991 for $175,200 at a floating rate tied to New York Prime plus 2%. The court has ordered foreclosure sale of the condominium unit to satisfy the debt. Investors should note this is a horizontal property regime unit with assigned parking, common elements, and potential homeowner obligations. Prior or preferred liens will survive the sale, and the buyer accepts all responsibility for them. Title should be carefully examined given the age of the mortgage and the passage of time since judgment.
CONDOMINIO PIEDRAHITA de Santurce Norte Apartamento: 1-A · Puerto Rico
FINCA 18048 -------PROPIEDAD HORIZONTAL: More or less said apartmen being located immediately to the north of the stair and elevator area on the second floor of the building, the main entrance door of which immediately communicates with the passenger elevator lobby which is on of the communal facilities of the building. The limits of this apartmen on the North East and West, are the front, left and right walls of the building respectively. On the South, i borders in five meters and twelv hundredths of a meter with communa facilities of the building, passenge lobby, passenger elevator and maid stairway, and in three meters and sixt six hundredths of a meter with the general storage area of apartment one B. The apartment contains the following rooms and facilities: living room, living room porch, dining room, three bedrooms, three bathrooms, hall, kitchen, laundry and general storage area. There corresponds to this apartment a undivided communal interest in the communal facilities of the entire property which are hereinafter set forth in detail. There also correspond to this apartment a parking space in the area devoted to such purpose, said space marked one-A. ---TRACTO: Se separa de la finca #11,436, inscrita a folio 29 del tomo 436 de Santurce Norte
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