Thursday, April 5, 2012

Foreclosure filing against #306


HANCOCK BANK vs. SMITH, RODNEY C
The paperwork on this is a bit behind events as #306 was sold on March 30th to Jeffrey J. Osterhout for: $14,300.00, which is the same day this Foreclosure was filed by Hancock Bank.

Whether or not there was a foreclosure filed before this sale, the first mortgage holder is still able to proceed and their mortgage remains despite the temporary sale to Mr. Osterhout. Eventually the unit will go to the bank, just as our 3 units will eventually go to the holders of their first mortgages.

Probably the next units up for auction will be #701 Jarrett and #615 Gayatin.