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'Trinity River property won't go to foreclosure yet'

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Trinity River property won't go to foreclosure yet

02/04/09 11:31

Although it has an outstanding loan value of over $25.48 million, the 52 acres that runs alongside the Trinity River Corridor won't be sent to the foreclosure table just yet.

Apparently the Bank of the Ozarks and the current owner, JPI, have reached an agreement and the bank is willing to halt the foreclosure.

The land was purchased by JPI from Matthews Southwest Corp. to build as many as 3,000 units to be rented as well as 400,000 in retail space.

[404 Check: was link to http:/ / www. freep. com/ article/ 20090203/ OPINION01/ 902030318, anchor: Link: Sheriff Evans offers only an illusion of foreclosure relief | Freep.com | Detroit Free Press]

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foreclosure relief Michigan 'Trinity River property won't go to foreclosure yet'