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Servicing / The Ticker

Florida nonprofit uses intricate scheme to delay foreclosures

Florida

According to the Sarasota Herald-Tribune, a Sarasota non-profit skirted around the law by creating an intricate non-profit foreclosure rescue program that used its client’s homes for a massive real estate scheme. The paper noted that:

Aleksandr Filipskiy, founder of Keeping Kids in Their Home Foundation Corp., managed to stall those defaults for years by routinely transferring properties to new shell companies and nonprofits he creates, and filing for bankruptcy protection under each entity to block the foreclosure proceedings.

Source: Herald-Tribune
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