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Bank files foreclosure action against luxury home builder Mark Maconi

Hounded by bank foreclosure, Mark Maconi Homes of Tampa Bay, a luxury builder based in Palm Harbor, has been struggling to pay off creditors as the market for its $1 million mansions tanks. A low point came in December when Maconi president Peter Krauser handed over the keys to his private $1.2 million residence in Clearwater's Coachman Hill Preserve. Wachovia Bank has initiated foreclosure against the builder, seeking payments for lots Maconi owns in northern Pinellas County. Dunedin has charged the builder for failing to keep lots mowed. Maconi has homes for sale for between $699,000 and $2.5 million in places like Snell Isle in St. Petersburg and Manning Oaks in Palm Harbor.

Bank files foreclosure action against luxury home builder Mark Maconi 03/13/09 [Last modified: Friday, March 13, 2009 8:26pm]
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