>Sagamore Hotel wants judge to halt sale

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>The Sagamore Hotel wants a judge to block its lender from auctioning off its delinquent mortgage to the highest bidder this week.

In a countersuit filed in Miami-Dade Circuit Court, the stylish South Beach boutique accused lender LNR Property of duping it into halting loan payments in hopes of restructuring its debt. LNR, a servicer that took over management of the loan when it went into default, plans to auction off the $32 million mortgage, setting the stage for a foreclosure on the 93-room hotel.

“They never would have stopped making the payments if it wasn’t for LNR saying, `stop making payments so we can get the file,’ ” said Sagamore lawyer Dennis Richard. The hotel owners have enough money to “bring them current — they always did.”
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