Florida Foreclosure Mill Operator, Elizabeth R. Wellborn, Evicted From Office Building
Florida Foreclosure Mill Operator Elizabeth Wellborn has closed the doors of her law firm.
Florida Foreclosure Mill Operator evicted by MMB Commercial Properties. Wellborn owed her landlord over $109,221 in back rent.
Wellborn’s firm once had 95 attorneys. She also controlled a large piece of the foreclosure business in south Florida.
The eviction lawsuit claims Wellborn’s firm skipped out on their October rent at 350 Jim Moran Boulevard. The firm also owed MMB rent and electricity. Consequently, Elizabeth Wellborn abruptly closed her firm.
Wellborn’s lawyer, Jeffrey Tew of Mandler Vogel Mandler & Rodriguez in Miami who also represented former foreclosure mill king David Stern, told the Miami Daily Business Review that no other lawsuits have been filed against Wellborn and he could not say whether she would file for bankruptcy or an assignment for the benefit of creditors.
The Florida Foreclosure Mill Operator has not filed a WARN Act notice. The state of Florida requires a company to warn employees mass layoffs prior to shutting down.
Donna Ballman, the attorney who represented Wellborn’s “orange workers” through settlement, had this to say about the firm’s sudden closure told the website Above The Law:
The foreclosure crisis is over with, so a lot of foreclose firms are struggling. That’s the problem with a business model that focuses on a hot new area. You’re going to have to have a plan to transition from that area once it’s no longer hot.