Thursday, January 11, 2018

Special Treatment???

Imagine if you will that you and your spouse own a house in Pensacola. 

A home assessed by the property appraiser at $1,114,643

A home currently for sale for $1,899,000 Listing

Now imagine that a bank gave you a mortgage for $980,000....A mortgage that states payment is due:

"On demand, but if no demand, interest only shall be due on April 10, 2012 and on the same day and month of each and every month thereafter until demand is made for payment in full or March 10, 2017 when the entire balance of principal and interest then unpaid is due and payable in full."

Well, interest only is nice but what is even nicer is that here we are on January 11, 2018, 10 months after the amount is fully due and payable, and the Bank has not filed for collection, extended the note and mortgage or done anything to collect on your fully due and payable mortgage.

Now suppose you were the elected Mayor of Pensacola and the Bank that held your mortgage was run by one of your supporters.

Does that make it interesting?

Now imagine further that you and your wife have a second mortgage on that home for $750,000 with another local bank.

Now suppose you were the elected Mayor of Pensacola and the Bank that held your second mortgage was holding $15,000,000 in City deposits as of the last FYE.

In a second position, the entire first mortgage fully due and payable, and house that has been for sale for 7 years and the bank hasn't done a thing?

Does that make it interesting?

Must be nice!


Anonymous said...

Didn't he move all the City's money to that bank that he owed the first mortgage too? Slid them some major business and he suddenly he didn't go into foreclosure

oinksmith said...

I’m not sure what Hayward’s salary is but I can’t imagine that it’s more than around $125,000 a year. An Hayward is a stay at home mom and part-time model. How do people in that income bracket afford a mortgage payment that would be around $5,000.00 per month? Perhaps by not paying it?

Anonymous said...

Fred Levin is his godfather...

Anonymous said...

Where is the sao?

Anonymous said...

Say the bank is taking care of him because he put city money in there. What would the crime be? Extortion?

Anonymous said...

Dare I ask what banking institution this is that is "allegedly" in cahoots with our fine Mayor. Better not be where I have my mortgage. If so, I want some answers.

bob kerrigan said...

People who accuse other people of criminal acts should be required to identify themselves or the accusation should not be printed. These particular accusations are baseless and scandalous about a highly reputable bank in our community. These are also baseless allegations about the Mayor. Maren should require the disclosure of the identity of these people or refuse to print their comments. It's one thing to disagree with someone's politics and quite another to accuse them of a crime. Bob Kerrigan