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Ford's Colony Lots Up For Auction MondayFriday, May 13, 2011
A similar sale took place in 2009 when 36 Ford’s Colony lots originally owned by Realtec, Inc., were sold after the company defaulted on its loan. Those lots were all bought back by the bank that held the note, though several people attended the sale in the hopes of picking up land at a good price. The 23 properties set for sale Monday will be offered individually and together by the Substitute Trustee Joseph Latchum. A deposit of 10 percent of the successful bid may be required, and the terms of sale are cash, due within 10 days of sale. The sale will take place Monday at 9 a.m. on the steps of the Williamsburg James City County Courthouse. For more information, contact Latchum at 249-7100. Lots to be sold: 3 Hamlin Court 115 Heathery 123 Kingdom of Fife 232 Beeston Fields 104 Eaglescliffe 132 Portland 223 Oakmere Park 135 Royal Sydney 108 Leven Links 141 Shinnecock 115 Western Gailes 114 Peachtree 120 Royal Melbourne 216 Ashford Manor 212 Ashford Manor 208 Ashford Manor 117 Seminole 208 Bulwell Forest 158 Blackheath 117 Stowe 109 Mahogany Run 224 Hurlston 208 Kilton Forest |
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Twenty-three Ford’s Colony lots are slated for sale on the courthouse steps Monday after the neighborhood’s real estate agency defaulted on its loan.
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Comments
What a bizarre statement. Buyers looking to procure property at a good price are in no way shape or form bilking those those who irresponsibly took on too much debt. How has a person who cannot make their payments been "bilked" by one they've never met? Lots of people tried to make money flipping homes and lots in Fords Colony -- look there for your avarice! Bottom line: stick with what you can afford.
In the case of the Fords' Colony real estate company losing their investment, I shed no tears for them as they have been responsible/com plicit by increasing land "values". The methods used to bring foreclosure to bear, are illegal usually and take advantage of homeowners who have become financially victimized and cannot afford legal representation at court. Plots to wrongfully assess "escrow" accounts abound, that add 100% more payment amounts to mortgages that have already bowed over homeowners adding injuries to insults.
If you watched "60 minutes" last month or online at CBS.com anytime, read news accounts of the fraudulent practises that banks employ to rid themselves of potentially "risky" homeowners, you know that these previously unheard of and nasty circumstances occur, with considerable frequency.
Due to banks "thumbing their noses" at newly enacted financial Reform Acts; and our naive expectation that banks acyt as they once did wisely, correctly, and above board (read that water board - which I'd like to see employed on CEOs who betray their customers), they are getting away with literal murder.
Homeowners deprived of their belongings, self respect, identity and property die much earlier than others who have less stress. That is fact relayed through numerous research efforts.