The Coyle file

Posted: July 20, 2012

Robert N. Coyle Sr., 67, of Glassboro, Gloucester County, N.J., is the son of an oil-burner repairman. He grew up in Kensington and became a self-made millionaire as a real-estate mogul. In 1997, he formed Landvest and launched at least nine other companies — all run from a rowhouse office on Allegheny Avenue near Aramingo in Port Richmond.

When the housing market grew sluggish, Coyle focused on renting his homes but let them slip into disrepair. He promised tenants they could rent to own, and many poured thousands of dollars into fixing shabby houses.

Coyle stopped making payments beginning in 2008 on more than $15 million in bank loans, and the banks moved to foreclose. n

– Barbara Laker

Attorneys have worked to stop or postpone sheriff sales and helped some tenants buy the homes.

For other tenants, Coyle offered month-to-month leases, but failed to make repairs. He then took at least 500 tenants to court with no valid housing inspection license, which he was legally required to have to collect rent or evict tenants.

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