Historical Miami Motel gets auctioned in a Foreclosure

Miami Tree.jpgEric Silverman of Miami Florida had high hopes for the Vagabond Motel. After acquiring the Vagabond Inn in 2005, Silverman boasted many ideas to renew the charm of this once madly popular and Rat Pack hot spot. Many people wanted to see Silverman’s ideas put to work, but sadly this was not the case. Silverman planned a market of sorts and before he could complete his dream, he ran out of money to fund his renovations.

The Vagabond Motel was said to be frequented by the infamous members of the Rat Pack. Pictures were even taken of some of the members singing on the lounge stage. With the demise of Sinatra, so came the demise of the Vagabond. It has yet to return to its former glory though it has changed owners on several occasions.

Returning an old icon, particularly one that comes in the form of a Motel can be an expensive endeavor. It is essential that you retain the services of an experienced Miami foreclosure attorney in order to protect your investment. If your investment is up and running, it is possible to keep your business open and running while modifying your debt or mortgage with minimal damage to your credit history and wallet. The best way to understand how the foreclosure process works (which is the best defense of foreclosure) is not to simply researching your options online, but to also seek a free initial consultation with a qualified Miami foreclosure lawyer. You will likely invest a considerable amount of money when making renovations and a foreclosure consultation in Miami is one of the best ways to protect that investment.

Links:

Vagabond Motel to be Auctioned off May 17, by Jared Goyette, April 19th 2011