Subcontractors decide to foreclose homes on hundreds of thousands of Olympus Pools debt
Several subcontractors hired a national commercial collection firm to seize dozens of liens
TAMPA, Fla. (WFLA) – RAB, Inc., a national commercial collection company, has confirmed to Better Call Behnken that it has sent 40 “Notice of Intent to Foreclosure” letters to clients of Olympus Pools, and many other opinions are in progress. the works.
Notices are expected to start arriving in Tampa Bay area mailboxes later this week, and foreclosure lawsuits could be filed 45 days after that. Certified letters are a last resort effort by subcontractors seeking payment for completed work on Olympus Pools work.
It’s a nightmare scenario for frustrated homeowners with unfinished pools and massive holes in their backyards. This is the latest shoe to drop in our ongoing Better Call Behnken investigation of hundreds of unfinished pools by Lutz-based Olympus Pools.
Zachery Hill, of RAB, said the company represents several subcontractors who have not been paid for hundreds of thousands of dollars of work done on the work of Olympus Pools.
“The intention is not to hurt these owners further,” Hill said. “Our hope is that Olympus Pools will pay what it owes.”
Unfortunately, he said, this is the best legal route for contractors to be paid for the work they have already done. Under the Notice of Intention to Foreclosure, Olympus and / or the Owner will have 45 days to pay off the Debt or a foreclosure action will be filed.
One of the contractors who go ahead with the foreclosure claims to owe $ 125,000 and another $ 350,000. Many other contractors have told Better Call Behnken that they also owe money for the completed work.
The notice of intent to foreclose is a blow to homeowners, many of whom have already paid Olympus Pools much – and in some cases – all of the work.
Meanwhile, Olympus Pools co-owners James Staten and Jordan Hidalgo insist they can finish all the pools and save the business. Earlier this month, Staten told investigator Shannon Behnken that he plans to complete all pools by Christmas.
Behnken contacted Olympus Pools for comment on the foreclosure action.
This is a developing story and will be updated.