The lenders are First Union National Bank of Florida, Independence Mortgage Corp. of America, Peoples First Community Bank and BankAtlantic. They had foreclosed on land and properties the Orlando cardiologist thought he had bought from Mohan and Savitri Singh in 1993.
Instead, the properties were owned by another purchaser who had failed to make his mortgage payments to the lenders, court records show. The doctor didn't have title to the properties. He is in court again today trying to get a fraud or civil theft judgment against the Singhs.
Details of the settlement with the lenders weren't disclosed in court records. The properties are being managed by a court-appointed receiver until the suit is resolved.
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