Judgment Made on Pinnacle Foreclosure
by January 10, 2011 12:00 am 62 views
There’s so much going on in the world of lawsuits and foreclosures we lost track of a big one, but here’s an update:
Bank of America, in its role as successor to LaSalle Bank NA, won a $28.76 million foreclosure judgment against Bill and Carolyn Schwyhart and Robert and Frieda Thornton and their Pinnacle Hills West LLC. Benton County Circuit Judge John Scott signed the judgment on Nov. 30.
Arvest Bank was a participant in the mortgage.
The foreclosure was on land known as the District at Pinnacle Hills, an 85-acre development south of Pauline Whitaker Parkway that is anchored by a prototype Wal-Mart Neighborhood Market. The land sits between the front gates of the posh Pinnacle Hills subdivision and Interstate 540.
There were three pieces of land in the original suit: a 27.26-acre tract that at one time appraised for $10.68 million, a 26.97-acre tract that at one time appraised for $10.57 million and a 10.13 acre tract with a pole barn and home that was built in 1967, which had a combined appraised value of $536,950.
The land will be sold at auction, but no commissioner’s sale has yet been posted.