NOTICE OF DEFAULT AND FORECLOSURE SALE
WHEREAS, on November 13, 2012, a certain Mortgage was executed by Loretta Tarrance Gardner and Ben Gardner, wife and husband as mortgagor(s) in favor of Mortgage Electronic Registration Systems, Inc., as mortgagee, as nominee for Urban Financial Group Inc., its successors and assigns as mortgagee, and was recorded on January 18, 2013, in Book MTG 1994, in Page 60, as Instrument Number 3050180 in the Office of the Judge of Probate of DeKalb County, State of AL; and
WHEREAS, the Mortgage was insured by the United States Secretary of Housing and Urban Development (the Secretary) pursuant to the National Housing Act for the purpose of providing single family housing; and
WHEREAS, the Mortgage is now owned by the Secretary, pursuant to an assignment dated May 18, 2018 and recorded on October 1, 2018, in Book Misc 488, at Page 3943 in the Office of the Judge of Probate of DeKalb County, State of AL; and
WHEREAS, a default has been made in the covenants and conditions of the Mortgage in that the payment due was not made and remains wholly unpaid as of the date of this notice, and no payment has been made sufficient to restore the loan to currency; and
WHEREAS, the entire amount delinquent as of May 26, 2023 is $346,416.84 and
WHEREAS, by virtue of this default, the Secretary has declared the entire amount of the indebtedness secured by the Mortgage Deed to be immediately due and payable;
NOW THEREFORE, pursuant to powers vested in me by the Single Family Mortgage Foreclosure Act of 1994, 12 U.S.C. 3751 et seq., by 24 CFR part 27, subpart B, and by the Secretary’s designation of me as Foreclosure Commissioner, recorded on July 5, 2023 in Book 4003, at Page 3428, notice is hereby given that on August 24, 2023 during the legal hours of sale, all real and personal property at or used in connection with the following described premises (“Property”) will be sold at public auction to the highest bidder:
Commence at the Southwest corner of the Southwest ¼ of the Northwest 1/4 of Section 1, Township 7 South, Range 7 East of the Huntsville Meridian, said point is located within the ROW of Lassetter Lane (60 foot ROW) and proceed South 88 degrees, 33 minutes East along the South boundary of said quarterquarter and along Lassetter lane for a distance of 210.0 feet to a point; thence leaving the South boundary of said quarter-quarter, proceed North 00 degrees, 27 minutes West for a distance of 21.4 feet to a one inch iron pipe on the North ROW boundary of Lassetter Lane, said point being the point of beginning; thence continue North 00 degrees, 27 minutes West for a distance of 399.5 feet to a 4 inch X 4 inch concrete monument; thence proceed North 88 degrees, 39 minutes West a distance of 209.0 feet to a one-inch iron pipe; thence proceed North 00 degrees, 17 minutes West for a distance of 231.0 feet to a one-inch iron pipe; thence proceed South 88 degrees, 33 minutes East for a distance of 659.5 feet to a one-inch pipe; thence proceed South 00 degrees, 15 minutes East for a distance of 340 feet to an iron pin with cap; thence proceed South 88 degrees, 33 minutes East for a distance of 6.0 feet to an iron pin set with a cap; thence proceed South 00 degrees, 15 minutes East for a distance of 50.0 feet to an iron pin set with cap; thence proceed North 88 degrees, 33 minutes West for a distance of 6.0 feet to an iron pin set with cap; thence proceed South 00 degree, 15 minutes East for a distance of 243.2 feet to an iron pin set with cap on the North Row Boundary of Lassetter Lane; thence proceed North 88 degrees, 09 minutes West along said Row Boundary for a distance of 449.1 feet the point of beginning.
Said parcel of land lying in the Southwest 1/4 of the Northwest 1/4 of Section 1, Township 7 South, Range 7 East, Dekalb County, Alabama, containing 7.64 acres, more or less. ALSO: Commence at the Southwest corner of the Southwest 1/4 of the Northwest 1/4 of Section 1, Township 7 South, Range 7 East of the Huntsville Meridian, said point is located within the ROW of Lassetter Lane (60 foot Row) and proceed South 88 degrees, 33 minutes East along the South boundary of said quarter-quarter and along Lassetter Lane for a distance of 210.0 feet to a point; thence leaving the South boundary of said quarter-quarter proceed North 00 degree, 27 minutes West for a distance of 21.4 feet to a one-inch iron pipe on the North Row of Boundary of Lassetter Lane; thence proceed South 88 degrees, 09 minutes East along the North ROW boundary of Lassetter Lane for distance of 449.1 feet to the point of beginning; thence leaving said ROW boundary, proceed North 00 degree, 15 minutes West for a distance of 243.2 feet to a point; thence proceed South 88 degrees, 33 minutes East for a distance of 6.0 feet to a point; thence proceed North 00 degrees, 15 minutes West for a distance of 50.0 feet to a point; thence proceed North 88 degrees, 33 minutes West for a distance of 6.0 feet to a point; thence proceed North 00 degrees, 15 minutes West for a distance of 109.4 feet to a point; thence proceed South 88 degrees, 33 minutes East for a distance of 68.0 feet to a point; thence proceed South 00 degrees, 15 minutes East for a distance of 403.1 feet to a point on the North ROW boundary of Lasseter Lane: thence proceed North 88 degrees, 09 minutes West for a distance of 68.0 feet to the point of beginning. Said parcel of land lying in the Southwest ¼ of the Northwest 1/4 of Section 1, Township 7 South, Range 7 East, Dekalb County, Alabama, and containing 0.62 acres, more or less.
LESS AND EXCEPT:
Commence at the Southwest corner of Southwest ¼ of the Northwest 1/4 of Section 1, Township 7 South, Range 7 East of the Huntsville Meridian said point is located within the ROW of Lassetter Lane (60 foot ROW) and proceed South 88 degrees, 33 minutes East along the South boundary of said quarter-quarter and along Lassetter Lane for a distance of 210.0 feet to a point; thence leaving Lassetter Lane and the South boundary of said quarter-quarter, proceed North 00 degrees, 27 minutes West for a distance of 420. 9 feet to a four-inch concrete monument, said point being the point of beginning; thence proceed North 88 degrees, 39 minutes West for a distance of 209.0 feet to a one-inch iron pipe; thence proceed North 00 degrees, 17 minutes West for a distance of 231.0 feet to a one-inch iron pipe; thence proceed South 88 degrees, 33 minutes East for a distance of 659.5 feet to a one-inch iron pipe; thence proceed South 00 degrees, 15 minutes East for a distance of 230.6 feet to a point; thence proceed North 88 degrees, 33 minutes West for a distance of 450.4 feet to the point of beginning. Said parcel of land lying in the Southwest 1/4 of the Northwest ¼ of Section 1, Township 7 South, Range 7 East, Dekalb County, Alabama, and containing 3.49 acres, more or less.
Commonly known as: 499 County Road 205, Rainsville, AL 35986
The Secretary of Housing and Urban Development estimated bid will be $346,416.84.
There will be no proration of taxes, rents or other income or liabilities, except that the purchaser will pay, at or before closing, his prorata share of any real estate taxes that have been paid by the Secretary to the date of the foreclosure sale.
When making their bids, all bidders except the Secretary must submit a deposit totaling $34,641.68 (10% of the Secretary’s bid) in the form of a certified check or cashier’s check made out to the Secretary of HUD. A deposit need not accompany each oral bid. If the successful bid is oral, a deposit of $34,641.68 must be presented before the bidding is closed. THE DEPOSIT IS NONREFUNDABLE. The remainder of the purchase price must be delivered within 30 days of the sale or at such other time as the Secretary may determine for good cause shown, time being of the essence. This amount, like the bid deposits, must be delivered in the form of a certified or cashier’s check. If the Secretary is the highest bidder, he need not pay the bid amount in cash. The successful bidder will pay all conveying fees, all real estate and other taxes that are due on or after the delivery date of the remainder of the payment and all other costs associated with the transfer of title. At the conclusion of the sale, the deposits of the unsuccessful bidders will be returned to them.
The Secretary may grant an extension of time within which to deliver the remainder of the payment. All extensions will be for 15-day increments for a fee of $500.00, paid in advance. The extension fee shall be in the form of a certified or cashier’s check made payable to the Secretary of HUD. If the high bidder closes the sale prior to the expiration of any extension period, the unused portion of the extension fee shall be applied toward the amount due.
If the high bidder is unable to close the sale within the required period, or within any extensions of time granted by the Secretary, the high bidder may be required to forfeit the cash deposit or, at the election of the foreclosure commissioner after consultation with the HUD representative, will be liable to HUD for any costs incurred as a result of such failure. The Commissioner may, at the direction of the HUD representative, offer the property to the second highest bidder for an amount equal to the highest price offered by that bidder.
There is no right of redemption, or right of possession based upon a right of redemption, in the mortgagor or others subsequent to a foreclosure completed pursuant to the Act. Therefore, the Foreclosure Commissioner will issue a Deed to the purchaser(s) upon receipt of the entire purchase price in accordance with the terms of the sale as provided herein. HUD does not guarantee that the property will be vacant.
The scheduled foreclosure sale shall be cancelled or adjourned if it is established, by documented written application of the mortgagor to the Foreclosure Commissioner not less than 3 days before the date of sale, or otherwise, that the default or defaults upon which the foreclosure is based did not exist at the time of service of this notice of default and foreclosure sale, or all amounts due under the mortgage agreement are tendered to the Foreclosure Commissioner, in the form of a certified or cashier’s check payable to the Secretary of HUD, before public auction of the property is completed.
The amount that must be paid if the mortgage is to be reinstated prior to the scheduled sale is based upon the nature of the breach, this loan is not subject to reinstatement. A total payoff is required to cancel the foreclosure sale or the breach must be otherwise cured. A description of the default is as follows: FAILURE TO PAY THE PRINCIPAL BALANCE AND ANY OUTSTANDING FEES, COSTS, AND INTEREST WHICH BECAME ALL DUE AND PAYABLE BASED UPON THE ALL MORTGAGORS.
Tender of payment by certified or cashier’s check or application for cancellation of the foreclosure sale shall be submitted to the address of the Foreclosure Commissioner provided below.
Dated this 14th day of July, 2023.
Michael Lindsey
Halliday, Watkins & Mann, P.C.
Foreclosure Commissioner
244 Inverness Center Drive
Birmingham, AL 35242
Phone: (801) 355-2886
Fax: (801) 328-9714
HWM File: AL21683
Publish: July 20, July 27 and August 3, 2023.
Mountain Valley News
Mountain Valley News (MVN) is your trusted source for weekly hometown news, serving the vibrant communities of DeKalb and Jackson Counties in the heart of Alabama. We're here to bring you the latest stories, events, and happenings, all available conveniently both online and in print.
At MVN, we believe that community engagement is essential. We want to hear from you, our valued readers! Share your opinions, insights, and thoughts on our articles by adding a comment below each story. Your perspective matters, and your comments contribute to the rich tapestry of discussions in our community.
Together, we can foster meaningful conversations and build a stronger sense of community. Join us in shaping the narrative of DeKalb and Jackson Counties. Your voice is important, and we look forward to reading your comments. Let's make our community news a truly interactive experience!
Have a story idea or a topic you'd like to see covered? Feel free to suggest it in the comments or reach out to our dedicated team. We're here to serve you, and your feedback helps us tailor our content to your interests and needs.