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Bank of America’s biggest foreclosure discount in Manatee County: 91 percent

By Michael Braga
Tuesday, October 5, 2010

Bank of America sold a 720-square-foot house at 3709 W. 18th Street in Bradenton in June for 91 percent less than the former owner, Rondi Lee Guerin, paid in 2006.

Guerin paid $112,500 for the house and defaulted on a $106,875 loan in October 2007.

Bank of America sold the house to G8 Capital Fund V LLC, an Irvine, California company, for $10,300.

G8 resold the house two month later for $8,600 more than it paid.

The sale was one of 17 properties that the giant North Carolina bank sold in Manatee County at a discounts of more than 60 percent.

In one case, Vince Nunez Enterprises, a Bradenton company managed by Jose V. Nunez-Gomez, bought a 1,312-square-foot house at 5121 21st Street in Bradenton from Bank of America in March for $40,250 and sold it in July for $119,900.