[Ironic] Foreclosure.com declares bankruptcy
The South Florida Business Journal reports an ironic story. "Even though foreclosure filings and interest in purchasing foreclosed homes is at an all-time high, a Boca Raton based company that runs several prominent foreclosure search Web sites has fallen into bankruptcy court.
FFS Data filed for Chapter 11 reorganization on December 23 citing $9.1 million in assets and $27.5 million in debts. It listed gross income of $15.7 million so far this year.
The company runs the Web sites Foreclosure.com, ForeclosureFreesearch.com and ForeclosureDatabase.com. It lists foreclosures, pre-foreclosures, bankruptcies, repossessed properties and tax liens from across the country and sends out foreclosure email alerts."
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