Another Florida Home Builder considers bankruptcy

Hollywood home builder Tousa is considering following Fort Lauderdale home builder Levitt and Sons and filing Chapter 11 Bankruptcy.

Tousa posted a $622 million dollar loss in the third quarter.  Currently Tousa is abandoning its rights to buy 9,400 home sites, forfeiting $167 million in deposit money.

Tousa’s biggest chance to continue operating would be if it’s able to convert a portion of its $1.7 billion in debt over to equity positions in the company.

You can read more about Tousa at the Miami Herald.