South Florida Business Journal

Chabad of Boca Raton, Florida.

The temple and Jewish school at Chabad of Boca Raton were saved from foreclosure by a mysterious company that bought its loan from Wells Fargo.

Chabad of Boca Raton Saved from Foreclosure

South Florida Business Journal

Chabad of Boca Raton, Florida.

The temple and Jewish school at Chabad of Boca Raton were saved from foreclosure by a mysterious company that bought its loan from Wells Fargo.

Wells Fargo Bank won a $2.2 million foreclosure lawsuit on June 14 against Friends of Chabad of Boca Raton and Torah Tots Academy. It slated its campus, at 17950 Military Trail, for auction on July 26.

That date fell during a nine-day period of mourning for the Jewish people as they remember the destruction of their first and second Holy Temple in Jerusalem. Fortunately for the Jewish people of Boca Raton, the Chabad was sparred from being seized by the bank.

On June 21, Wells Fargo Bank sold the temple’s mortgage to 17950 N. Military Trail LLC, which promptly had the foreclosure judgment vacated and that lawsuit voluntarily dismissed.

So who is Chabad of Boca Raton’s savior? State records show that 17950 N. Military Trail LLC is registered to Boca Raton attorney Scott A. Frank. The attorney said his client instructed him to decline comment.

Either way, it looks like somebody performed a big mitzvah.

10 Comments

  • moshe de e

    sound fishey …

    i guess a short sale gone bad …..

    you cant always beat the bank

  • wats up.

    perhaps someone purchased the mortgage from the bank at a discount price and will be a much harsher landlord/lender.

  • Rabbi Pinchos Woolstone

    This is terrific news.
    May all Mosodos facing such problems be saved in such a manner
    Let the Shluchim be showered with larger and larger donations.

  • Upset Boca Resident

    Maybe the rabbi should lower his standard of living so they can afford the mortgage

  • To number 5 and number 8

    To number 5: they bought it to make money but the process beings again so for now there is some time.

    To number 8: you cannot lower your standard of living much lower than the Rabbi. Even his own employee/Rabbi under him has a much higher standard of living than he does.

  • dont just talk

    who is the employee/Rabbi under him?
    there is Rabbi Denburg and RabbI Bukiet they are partners and shotfim and a marvel to behold of achdus and love for the shlichus. may be that why they have hashem and the rebbe brachah and may be we should all learn from them.
    Go to Boca and you can see it for your self i have been there many times and its a joy to see.