Condominium Associations, homes, apartment complexes, golf courses, and now ranches have found themselves facing foreclosure. In Tampa Bay, Florida there is a ranch that was being created for equestrian training and competition made up of more than 1,000 acres. It has been in the works for more than a year. However, the owner of the ranch is facing foreclosure.

The Cordoba ranch has 11 miles of bridle trails and 36 stall stables allowing enough space for horses to be maintained and trained. There were also homes provided for more than $200,000 each. Despite its promising future, the ranch is in the process of foreclosing. There was anticipation for quite a while that people would be able to bring their horses and train to become equestrians. But that dream will come to an end if the ranch closes for good.

In order for the ranch to stay afloat the owner will need to become up to date with the amount owed. It isn’t known exactly how much is needed to make payments up to date, but it is difficult for those that have investment properties to receive federal assistance or qualify for a loan modification. The borrower would have to contact the lender to see what they can work out; however, the lender may not lose too much on the property when they decide to resell it.