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.

speak up

Add your comment below, or trackback from your own site.

Subscribe to these comments.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

You must be logged in to post a comment.