American Dream in Naples Foreclosed Upon
Photo by Respres
American dreams in Naples are being foreclosed upon. For many the target was to retire in Naples. Three women nursed this dream and purchased houses in the same neighbourhood. They had hopes that during the twilight years of their life they would remain neighbours.
This is the story of Blanca Chaparro, her sibling Gladys Lopez and a long time friend Ana Isabel Rodriguez-Storer. They nursed hopes of being neighbours in the same street. They invested in houses in Bristol Pines near Collier Boulevard close to Vanderbilt Beach Road.
But the houses never came up and they forfeited most of the money they had invested as deposits. Each is armed with a court ruling against their developer for the money that is owed to them but they have failed to collect even a cent.
The attorney representing them, Dough Lewis of Naples said, “In this case, they were promised the return of their money and now they are left holding the bag. The money is important to my clients. This was part of their retirement”.
Rodriguez-Storer aged sixty said that it has completely altered their lives; their dreams have turned into nightmares. She has lost over $22,000. The sisters Lopez and Chaparro are no less depressed that all their retirement plans have vanished. Chaparro is Spanish. At the age of 67 she is the only one of the trio who lives in Naples today. She is a part time worker and resides with a daughter of hers.
Lopez and Rodriguez reside in New York and are unsure if they will be able to shift to Naples now; perhaps their funds will not permit it.
Following the bursting of the boom in Southwest Florida, the firm developing Bristol Pines, Waterways Joint Venture began to face financial problems. He defaulted on many of his loans totaling to $30 million. The developer had in line many residential projects including that of Bristol Pines. In 2010 Wells Fargo had foreclosed on the loans after it merged with Wachovia Bank.
The CEO of Waterways Richard Davenport did not make any comments on the legality of the cases involving the three women. He explained that although on paper his firm still existed it did not engage any employees, maintain bank accounts, had no assets and thus for all practical purposes it was out of business.
The women had invested for the second phase of this project of Bristol Pines; it never came up although the land was ready for the same.
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