Friday, January 28, 2011

UPDATED: Halsey Minor's "Carter's Grove" Scheduled For Foreclosure Auction

Updated: 1/30/11 3pm 

The Hook reports on The Virginia Gazette's continuing coverage of this story.

Halsey Minor says he stopped mortgage payments due to undisclosed water damage.  This equals  his own "remedy" for what he says was a pre-purchase problem.  However, Virginia is a "caveat emptor" state: "buyer beware," with sellers often disclosing that they "know nothing" and buyer must accept this as a condition of purchase.

As for the foreclosure auction, scheduled for Feb. 15, Minor asserts it will never happen:
“If your source is accurate, all I can say is, ‘in their dreams,’” Minor wrote. “They will never, repeat never, be getting that home back. I will restore the home as it should have been done, and they should focus their energies on arresting the tragic decline of Colonial Williamsburg.”
Minor said that since a corporation called Carter’s Grove LLC owns the property, he can stop the foreclosure by putting the company into bankruptcy.

“It would take six months to get before a judge,” he said. “They know that. They have lawyers. They knew it wasn’t going to be sold on the courthouse steps. Why was this announced? To embarrass me.”
Minor has just shown how he is going to prevail, at least for the immediate future, in this issue.  Bolding ours.

Original post: 1/28/11 2:22pm

Would-be (but frustrated by the FDIC) hotel entrepreneur and C-ville son Halsey Minor has another property facing foreclosure, this time in Colonial Williamsburg, as reported by The Virginia Gazette.

Perhaps he, and former millionaire Patricia Kluge, as well as various local builders, bankers, developers, Realtors, and just plain folks will be interested in joining the reality show this blog is pitching to the Bravo Network, "The Real House Losses of Albemarle County."   It's not a comedy, but it sure is daily news. 

Stay tuned.

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