Business, Foreclosures, Real Estate

Comstock, BB&T: “friendly” $32.7 million foreclosure agreement

Comstock Homebuilding Companies, Inc. (NASDAQ: CHCI) recently announced that it and certain of its subsidiary companies have entered into a foreclosure agreement with BB&T over $32.7 million of the company’s $144.0 million of secured debt.

Under the terms of the agreement, Comstock will cooperate in the foreclosure process, and BB&T will release the company from any post-foreclosure deficiency liability.

Atlanta-area properties included in the foreclosure agreement include lots at Maristone, Wyngate, and Glen Ivy.

 

Sign Of The Times - Foreclosure, originally uploaded by respres.

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