NOTICE OF DEFAULT AND FORECLOSURE SALE
WHEREAS, on September 15, 2009, a certain Home Equity Conversion Deed of Trust (ìReverse Mortgageî) was executed by DAISY MAE MANN, as mortgagor in favor of Park Place Reverse Mortgage, Inc., as mortgagee and Tri State Land Title , as trustee, and was recorded on October 13, 2009 under Clerk
s Instrument Number 18246, Book 70, Page 733-741 in the real property records of Haywood, Tennessee.
WHEREAS, the Reverse Mortgage was insured by the United States Secretary of Housing and Urban Development (the ìSecretaryî) pursuant to the National Housing Act for the purpose of providing single family housing; and
WHEREAS, the beneficial interest in the Reverse Mortgage is now owned by the Secretary, pursuant to an assignment dated February 5, 2016, and recorded on March 21, 2016, under Clerks Instrument Number 37431, Book 139, Page 512 in the real property records of Haywood County, Tennessee; and
WHEREAS, a default has been made in the covenants and conditions of the Reverse Mortgage in that the Mortgagors no longer occupies the property; and
WHEREAS, the entire amount delinquent as of November 18, 2019 is $116,515.50; and
WHEREAS, by virtue of the default, the Secretary has declared the entire amount of the indebtedness secured by the Reverse Mortgage to be immediately due and payable;
NOW THEREFORE, pursuant to powers vested in me by the Single Family Mortgage Foreclosure Act of 1994, 12 U.S.C. 3751 et seq., by 24 CFR part 27, subpart B, and by the Secretaryís designation of me as Foreclosure Commissioner, recorded in the real property records of Haywood County, Tennessee under Book 178, Page 462, notice is hereby given that on November 18, 2019, on or about 12:00PM local time, all real property at or used in connection with the following described premises (ìPropertyî) will be sold at public auction to the highest bidder:
FIRST LOT: BEGINNING AT THE NORTHEAST CORNER OF CHINE AND WALTER HILLIARD
S LOT AND THE SOUTHEAST CORNER OF THE STEHLIN LOT (BEING THE SECOND LOT BELOW DESCRIBED), AND RUNS THENCE WEST 175 FEET TO A STAKE IN A STREET (MONROE AVENUE FORMERLY KNOWN AS GIBBS STREET); THENCE SOUTH 40 FEET TO A STAKE; THENCE EAST 175 FEET TO A STAKE IN DRAKES LINE; THENCE NORTH WITH DRAKE
S WEST LINE 40 FEET TO THE BEGINNING.
SECOND LOT: BEGINNING IN THE CENTER OF GIBBS STREET (NOW KNOWN AS MONROE AVENUE), AT THE NORTHWEST CORNER OF THE LOT SOLD BY GEO W. DRAKE TO BLANCH HILLIARD; AND RUNS THENCE NORTH WITH SAID STREET 40 FEET TO THE SOUTHWEST CORNER OF THE LOT FORMERLY OWNED BY MRS. DRAKE; THENCE EAST 175 FEET TO A STAKE; THENCE SOUTH WITH HENRY HESS WEST BOUNDARY LINE 40 FEET; THENCE WEST WITH BLANCH HILLIARD
S NORTH BOUNDARY LINE 175 FEET TO THE BEGINNING.
BEING THE PROPERTY CONVEYED IN WARRANTY DEED FROM CHARLES E. COLE AND WIFE, MILDRED COLE TO JAMES EDWARD MANN AND WIFE, DAISY MAE MANN, DATED MAY 18, 1973, RECORDED JUNE 25, 1973, IN DEED BOOK 122, PAGE 328, IN THE REGISTERS OFFICE FOR HAYWOOD COUNTY, TENNESSEE.
JAMES EDWARD MANN PASSED AWAY IN APRIL 1995 A RESIDENT OF HAYWOOD COUNTY, TENNESSEE.
Commonly known as: 806 N Monroe Ave, Brownsville, TN 38012.
Tax ID: T09-4329MANN
The sale will be held in Haywood County, Tennessee at the following location: at the Haywood County Courthouse, Brownsville, Tennessee.
The Secretary of Housing and Urban Development will bid $119,583.63.
There will be no proration of taxes, rents or other income or liabilities, except that the purchaser will pay, at or before closing, his prorate share of any real estate taxes that have been paid by the Secretary to the date of the foreclosure sale.
When making their bids, all bidders except the Secretary must submit a deposit totaling $11,958.36 in the form of a certified check or cashierís check made out to the Secretary of HUD. A deposit need not accompany each oral bid. If the successful bid is oral, a deposit of $11,958.36 must be presented before the bidding is closed. The deposit is nonrefundable. The remainder of the purchase price must be delivered within 30 days of the sale or at such other time as the Secretary may determine for good cause shown, time being of the essence. This amount, like the bid deposits, must be delivered in the form of a certified or cashierís check. If the Secretary is the highest bidder, he need not pay the bid amount in cash. The successful bidder will pay all conveying fees, all real estate and other taxes that are due on or after the delivery date of the remainder of the payment and all other costs associated with the transfer of title. At the conclusion of the sale, the deposits of the unsuccessful bidders will be returned to them.
The Secretary may grant an extension of time within which to deliver the remainder of the payment. All extensions will be for 15-day increments for a fee of $500.00, paid in advance. The extension fee shall be in the form of a certified or cashierís check made payable to the Secretary of HUD. If the high bidder closes the sale prior to the expiration of any extension period, the unused portion of the extension fee shall be applied toward the amount due.
If the high bidder is unable to close the sale within the required period, or within any extension of time granted by the Secretary, the high bidder may be required to forfeit the cash deposit or, at the election of the foreclosure commissioner after consultation with the HUD representative, will be liable to HUD for any costs incurred as a result of such failure. The Commissioner may, at the direction of the HUD representative, offer the property to the second highest bidder for an amount equal to the highest price offered by that bidder.
There is no right of redemption, or right of possession based upon a right of redemption, in the mortgagor or others subsequent to a foreclosure completed pursuant to the Act. Therefore, the Foreclosure Commissioner will issue a Deed to the purchaser(s) upon receipt of the entire purchase price in accordance with the terms of the sale as provided herein. HUD does not guarantee that the property will be vacant.
Other interested Parties: MIDLAND FUNDING LLC AS SUCCESSOR IN INTEREST TO CHASE BANK USA, N.A..
If applicable, the notice requirements of T.C.A. ß35-5-101 have been met.
If the U.S. Department of Treasury/IRS, the State of Tennessee Department of Revenue, or the State of Tennessee Department of Labor or Workforce Development are listed as Interested Parties in the advertisement, then the Notice of this foreclosure is being given to them and the Sale will be subject to the applicable governmental entitiesí right to redeem the property as required by 26 U.S.C. 7425 and T.C. A. ß67-1-1433.
The scheduled foreclosure sale shall be cancelled or adjourned if it is established, by documented written application of the mortgagor to the Foreclosure Commissioner not less than 3 days before the date of sale, or otherwise, that the default or defaults upon which the foreclosure is based did not exist at the time of service of this notice of default and foreclosure sale, or all amounts due under the mortgage agreement are tendered to the Foreclosure Commissioner, in the form of a certified or cashierís check payable to the Secretary of HUD, before public auction of the property is completed.
The amount that must be paid if the mortgage is to be paid in full prior the scheduled sale is $119,583.63, plus all other amounts that would be due under the mortgage agreement if payments under the mortgage had not been accelerated, advertising costs and postage expenses incurred in giving notice, mileage by the most reasonable road distance for posting notices and for the Foreclosure Commissionerís attendance at the sale, reasonable and customary costs incurred for title and lien record searches, the necessary out-of-pocket costs incurred by the Foreclosure Commissioner for recording documents, a commission for the Foreclosure Commissioner, and all other costs incurred in connection with the foreclosure prior to reinstatement.
Tender of payment by certified or cashierís check or application for cancellation of the foreclosure sale shall be submitted to the address of the Foreclosure Commissioner provided below.
Date: October 4, 2019
Mackie Wolf Zientz & Mann, P.C.
7100 Commerce Way, Suite 273
Brentwood, TN 37027
(615) 777-4517 Fax