Thursday, January 18, 2018

WOW! Mortgage Debacle Goes Deeper...Ridiculous!

I recently posted that Ashton Hayward has a $980,000 mortgage with Warrington Bank that came due 10 months ago but has not been renewed or called by the lender.  No actions have been brought to collect. Nothing!

The Board of Warrington Bank which Hayward is past due $980,000 includes Marilyn Hess.

Warrington Bank

On November 12, 2015, American Fidelity Life Insurance Company expanded the amount advanced to Mayor Hayward's Redfish Harbor development to a total debt of $ 4,758,000.


The Board of American Fidelity Life Insurance Company which Hayward and partners owe $4,758,000 includes Marilyn Hess.

AMFI Board

The Property with a mortgage for $4,758,000 owed by the Mayor and partners is appraised by Chris Jones at $1,388,635.

Parcel 1

Parcel 2

  • Hayward and partner purchased the land in 2004 for $750,000.
  • Hayward and partner sold the property in 2005 to Cody Rawson for $3,500,000 and stayed on as partners.
  • Hayward and partners have run the debt up to $4,758,000
  • The property is only worth $1,388,635.
  • Nothing is happening on the property.
The same person that allowed the Mayor to increase a $750,000 property to over $4,758,000 in debt is letting him slide on a mortgage that lapsed and came due 10 months ago.

Don't banks have Federal and State lending laws?

Did she buy a mayor?  Hmmm.  See below.

Below is a photo of Mayor Ashton Hayward at the Groundbreaking of Marilyn Hess's new hotel in NAVARRE in June 2015, right around when the extended financing on Redfish Harbor was secured.

Article about NAVARRE groundbreaking with PENSACOLA Mayor.

Why is a Pensacola Mayor at a Navarre groundbreaking?  Its not even the same county!!


Anonymous said...

Rut ro....why was the note moved to this bank? And when?

George Hawthorne said...

Clearly, such a fine banker/business woman as Ms. Hess, has found some "value" for underwriting these risky loans.