Skip to comments.(Former State TN Senator John) Ford's Home Is Closer to Auction
Posted on 12/01/2005 6:00:03 PM PST by mcg2000
Maybe 2 weeks on Collierville property
Former state senator John Ford has received a foreclosure notice on his Collierville home.
Wells Fargo Bank is threatening to auction Ford's $495,000 home on Dec. 15, contending he is in default on his mortgage.
Ford could not be reached Wednesday for comment.
His attorney, Michael Scholl, said he had no information on the pending foreclosure.
Ford, 63, has been in a financial pinch since his indictment in May on bribery charges. He's pleaded not guilty to charges he took $55,000 from undercover FBI agents in the Tennessee Waltz sting.
Since his arrest and resignation from the Senate seat he'd held for 31 years, Ford -- once a $356,000-a-year political consultant -- has been hounded by creditors.
Among them, First Tennessee Bank won a $59,000 default judgment against Ford in September, a ruling the Memphis Democrat later got overturned.
His latest financial troubles involve the 5,492-square-foot home he bought in 2001 outside his Senate district, moving in with his longtime girlfriend, Connie Matthews.
The home soon was in the news when Ford's then-wife, Tamara Mitchell-Ford, drove her Jaguar through a fence and into the home's rear French doors.
A foreclosure notice published Nov. 15 says Ford and Matthews are in default on a $481,500 mortgage they signed last December. Under state law, a foreclosure notice must be published three times before an auction can take place. The notice was published again on Nov. 22 and 29.
The notice says any sale is subject to the right of redemption by the Internal Revenue Service, which filed a lien in February claiming Matthews owes $19,934 in unpaid income taxes.
As is the practice here, the foreclosure sale is set for the southwest steps of the Shelby County Courthouse where it would be sold to the highest bidder.
Despite published notices, debtors at times avoid foreclosure sales by making arrangements to pay off a mortgage in default. Yet, as of noon Wednesday, that hasn't happened in this case.
According to Jennifer Wilson, a representative of the substitute trustee handling the sale, the foreclosure is still active. Wilson declined to say how much Ford owes in arrears.
-- Marc Perrusquia: 529-2545
Interested in some real estate, Gail ? ;-)
WOW !! they actually used the word DEMOCRAT in the story. Even though half way into the story.
Yep, now that he is no longer in a position of power, he doesn't command the "consulting fees" that he once did.
"Since his arrest and resignation from the Senate seat he'd held for 31 years, Ford -- once a $356,000-a-year political consultant ..."
Call me stupid, but- If this guy was in a state Senate seat for 31 years, when, oh when, was he a "political consultant"? If it was before he held his seat (politically speaking) then why was he worth $356,000 per year? And if it was during his Senate career, isn't that what most people call a clear conflict of interest? So, has he been collecting bribes all that time? I wonder if he has strings to Al Gore.
Ford skimmed money off a large number of government subsidized daycare centers his family operates. Somehow they always managed to keep the auditors away. The guy is just plain dirty.
"Do you know the history of the Tennessee ford's in this family tree?"
Nope. Any relations to Tennessee Ernie Ford? Tell me more?
"Ford skimmed money ... "
I haven't known any of this history, so thank you, Bean.
What about that $300,000 + "consulting" career? Was that just a cover for the daycare skimming? Or is that something else, entirely?
Harold Ford Jr's old man should be in jail for bank fraud. Clinton's justice department let Senior off the hook.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.