Ginn Development

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We represent many unfortunate owners of properties in high end golf resort developments developed by Ginn Development: Tesoro Development and Tesoro Preserve in Port St. Lucie, Florida; Reunion Resort in Orlando, Florida; Bella Collina Resort in Montverde, Florida; Quail West, in Naples, Florida; Hammock Beach Resort, Conservatory and Yacht Harbor Village in Palm Coast, Florida; Cobblestone Park in Columbia, South Carolina; Laurelmor in Boone, North Carolina and Ginn Sur Mer, in the Bahamas.  These owners not only purchased during the bubble, but their loss in value is exacerbated by initially grossly inflated appraisals and the developer’s failure to complete the promised amenities.

There are several lawsuits alleging mortgage fraud involving fraudulent real estate appraisals, artificially inflated prices and illusory comparable sales.  Many of these properties have depreciated in value by over 95%, a figure that is obviously not attributable to the poor real estate market.  While many of these owners have, or are considering, initiating lawsuits against the developer (and other parties), they must deal with the immediate problem of paying a monthly mortgage payment on a relatively worthless home or piece of property.