Doctor Takes Two Loans

by Talk Business & Politics ([email protected]) 59 views 

Dr. Scott A. Bailey and his wife, Leslie, borrowed $595,800 in two loans against their home at 568 Rockcliff Road in Fayetteville.

Bailey, an obstetrician/gynecologist at the Parkhill Clinic for Women, and his wife signed a deed of trust to McIlroy Bank & Trust in Fayetteville on April 16 to secure a $529,600 loan from the bank that is due May 1, 2012. The couple also received a second mortgage against the home for $66,200 on April 23.

“Both loans are secured with the couple’s 7,170-SF home and four lots in the Hyland Park subdivision. The home was appraised last year for $466,900.

The Baileys bought two of the lots in the fall of 1988 for a total of $35,000. The third and fourth lots were bought the next year.