Agenda

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County Attorney's Report 11. 2.

BCC Regular Meeting

Information

Meeting Date:	06/20/2019
Issue: Foreclosure Actions - Case No.: 2017 CA 001688 and 2018 CA 000612
From:	KRISTIN HUAL
Department:	County Attorney's Office
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Regions Bank D/B/A Regions Mortgage v. Rebecca J. Totty, et al.; Case No.: 2017 CA 001688 and U.S. Bank National Assoc. v. Sarah Dowlatkhah, et al.; Case No.: 2018 CA 000612.

That the Board accept for information the County will recover surplus funds totaling $26,603.59 as a result of two foreclosure actions for deposit in the Affordable Housing Trust Funds.

BACKGROUND:

The County retained an interest in certain real property owned by Rebecca J. Totty by virtue of an Affordable Housing Initiative New Construction PMR Mortgage and Security Agreement in the sum of $35,000.00. The County’s interest was subordinate to the Plaintiff’s mortgage interest. Following the entry of final judgment and the sale of the subject property, a surplus was retained by the Clerk of the Circuit Court and Comptroller. Upon the County’s Motion for Disbursement of Surplus, the County recovered the surplus funds held in the court’s registry totaling $25,191.32. as partial satisfaction of the County’s interest.

The County retained an interest in certain real property owned by Sarah Dowlatkhah by virtue of an Affordable Housing Initiative New Construction HHRP Mortgage and Security Agreement in the sum of $50,000.00. The County’s interest was subordinate to the Plaintiff’s mortgage interest. Following the entry of final judgment and the sale of the subject property, a surplus was retained by the Clerk of the Circuit Court and Comptroller. Upon the County’s Motion for Disbursement of Surplus, the County recovered the surplus funds held in the court’s registry totaling $1,412.27 as partial satisfaction of the County’s interest.

BUDGETARY IMPACT:

The funds will be deposited in the Escambia County Affordable Housing Fund.

LEGAL CONSIDERATIONS/SIGN-OFF:

N/A

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

N/A

Attachments
Regions Bank - 2017 CA 001688
U.S. Bank National Association - 2018 CA 000612