Item Id: Chapman01
Case Name: Chapman, Ricky K & Brenda L
Case Number: 17 60076 (and formerly 14 62993)
Trustee:
Starting Minimum Bid: $3,295
Description: Estate’s interest in the following Promissory Note:
One (1) promissory notes secured by two (2) parcels of land located in Canyonville, Douglas County, Oregon. The note originated in 2014 and the entire balance is due and payable on or before March 3, 2029. The Note was established as a carry-back loan related to inherited property and is divided equally between three siblings one of whom is the debtor. The payments are divided equally between the three parties in a 33 1/3% division.
As of November 2016, the balance remaining to be paid on the Note is $55,581.32. At 1/3 payment, this equates to the debtor is due at least $18,527.11 due and payable by 3/3/29.
The Estate has been receiving interest payments since the filing to benefit creditors. The firm servicing the Note is AmeriTitle of Roseburg, OR. According to AmeriTitle, the payment stream in 2016 (January – September only) was $1,311.25
All documents will be linked once the auction commences.
Location Info: The parcels are located in Douglas County, Oregon. Parcel numbers are:
R28762;
R28770
The properties are located at 7183 Tiller Trail Highway, Canyonville, OR 97417. One parcel represents the property/land, and the other parcel covers the residential structure.
Past and current payments from the Note have been made directly to the Trustee who, in turn, has endorsed payments on to the debtor’s Estate. Once the promissory note is sold, payments will be redirected to the new owner.
This auction is for the promissory note, itself. It is not for the property. The property owner (Wylie) is the payor toward the note and the estate (including the current debtor) is the payee. In the event of a default, the parcels would revert back to the payees
Liens: We do not know of any other liens.
*Picture is of general area, not representative of actual property.*
Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer..