Bundoran Foreclosed On

Wells Fargo has foreclosed on the Bundoran Farm development, Bryan McKenzie writes for the Progress. Over three square miles of the development—presumably not including the parcels already sold—will be sold on the steps of the courthouse next week. The developer says that their partners, who provided the money for the development, had “their other investments…hit hard and they had liquidity issues and couldn’t meet the lender’s requirements”—or, in English, they didn’t have the money to pay their mortgage. Wells Fargo says that they’re hopeful that the development will continue in its current rural style, with large lots and ongoing agricultural interests, but what with selling it, what they hope for probably doesn’t much matter.

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