Fannie Mae seeks $4M foreclosure against North Miami apartment building owner

Fannie Mae filed a foreclosure complaint against the owner of a North Miami apartment building. On July 25, Fannie Mae, led by CEO Priscilla Almodovar, sued Salem House Holding and its manager, Alexander Padilla, for alleging defaulting on a $3.9 million mortgage that includes accrued interest and attorney fees, court records show.  The loan is secured by Salem House, a two-story building with 32 apartments at 13155 Northeast Sixth Avenue. The lawsuit also names as a defendant the city of North Miami, which has a lien on the property since 2023 due to alleged unresolved code violations, records show.  Padilla […]This article originally appeared on The Real Deal. Click here to read the full story.