The popular warm weather destination of Scottsdale, Arizona has had its second announcement of a major resort facing foreclosure in just a few weeks.

The InterContinental Montelucia Resort & Spa which has 293 rooms has been announced that it is heading towards foreclosure and scheduled for disposition on April 28 after its opening last fall. There is also the W Scottsdale which hit foreclosure a few weeks ago.

According to releases from press and media is that the owners of the Montelucia is having a troubles with a $185 million mortgage held by Eurohypo AG of Germany.

 If you like this article, please consider bookmarking it or help us promote it.