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NOTICE OF DEFAULT AND FORECLOSURE SALE
WHEREAS, on May 23, 2009, a certain Mortgage was executed by Anna Phillips Farves and Roy James Farves, as mortgagors in favor of MetLife Home Loans, a Division of MetLife Bank, N.A., as mortgagee, and was recorded on July 6, 2009 at Instrument Number 978665, in the Office of the Mortgage Records of the Clerk of Court, Orleans Parish, Louisiana. Thereafter, a Fixed Rate Second Home Equity Conversion Mortgage in favor of Secretary of Housing and Urban Development was executed May 23, 2009 and recorded on July 6, 2009 at Instrument Number 978666 in the Office of the Mortgage Records of the Clerk of Court, Orleans Parish, Louisiana; and
WHEREAS, the Mortgage was insured by the United States Secretary of Housing and Urban Development (the Secretary) pursuant to the National Housing Act, 12 U.S.C. 1707 et seq., for the purpose of providing single family housing; and
WHEREAS, the Mortgage is now owned by the Secretary, pursuant to an assignment dated July 10, 2012 and recorded on October 26, 2012 at Instrument Number 1105087, an assignment dated July 2, 2015 and recorded on August 27, 2015 at Instrument Number 1196410 and assignment dated January 23, 2019 and recorded on February 15, 2019 at Instrument Number 1294714 in the office of the Mortgage Records of the Clerk of Court, Orleans Parish, Louisiana; and
WHEREAS, a default has been made in the covenants and conditions of the Mortgage in that the property ceases to be the principal residence of a borrower for reasons other than death and the property is not the principal residence of at least one other borrower; and
WHEREAS, the entire amount delinquent as of November 10, 2021 is $200,867.82.
WHEREAS, by virtue of this default, the Secretary has declared the entire amount of the indebtedness secured by the 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 Secretarys designation of me as Foreclosure Commissioner, recorded on Mach 10, 2021, in Book 3450, Page 780, at Instrument No. 12113654, Parish of Jefferson, State of Louisiana, notice is hereby given that on July 14, 2022 at 12:15 p.m. local time, all real and personal property at or used in connection with the following described premises (Property) will be sold at public auction to the highest bidder:
One certain lot of ground, together with all the buildings and improvements thereon, and all the rights, ways, privileges, servitudes, prescriptions, advantages and appurtenances thereunto belonging or in anywise appertaining, situated in the Third District of the City of New Orleans, Parish of Orleans, State of Louisiana, in Sherwood Forest Subdivision, in Square K thereof, bounded by Nottingham Drive, Wright Road and Pressburg Street, and which lot is designated by the No. 3, on plan of subdivision, of Sherwood Forest Subdivision, Section A, by Adloe Orr, Jr. & Associates, C.E., dated October 31, 1956, and revised preliminary plan approved by the City Planning Commission on October 31, 1956, and final approval on December 31, 1956, registered in COB 614, folio 3 on January 4, 1957, a copy of which plan is attached to act before Louis S. Fremaux, Notary, dated December 31, 1956, and according to said plan, said lot of ground measures as follows: Lot 3 begins 115 feet from the corner of Nottingham Drive and Pressburg Street and measures thence 55 feet front on Nottingham Drive, same width in the rear, by a depth of 105 feet between equal and parallel lines. According to print of survey made by Adloe Orr, Jr. & Associates, C.E., dated December 16, 1963, Square K is bounded by Nottingham Drive, Wright Road, Pressburg and Will Stutley Drive, and Lot 3 has the same location and measurements as above stated. All as more fully shown on another survey by Adloe Orr, Jr. & Associates, C.E., dated April 2, 1964. All as more fully shown on a survey by Universal Land Surveyors, Inc., dated June 23, 1986.
Which has the address of 4917 Nottingham Drive, New Orleans, LA 70127.
The sale will be held at 4917 Nottingham Drive, New Orleans, LA 70127.
There will be no proration of taxes, rents or other income or liabilities, except that the purchaser will pay, at or before closing, his prorata 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 $20,087.00 [10% of the Secretarys bid] in the form of a certified check or cashiers check made out to the Secretary HUD. A deposit need not accompany each oral bid. If the successful bid is oral, a deposit of $20,087.00 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 cashiers 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 and 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 cashiers 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 extensions 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.
The scheduled foreclosure sale shall be cancelled or adjoined 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 cashiers 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 reinstated prior to the scheduled sale is $200,867.82 as of July 14, 2022, 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 Commissioners attendance at the sale, reasonable and customary costs incurred for title and lien records 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 cashiers check or application for cancellation of the foreclosure sale shall be submitted to the address of the Foreclosure Commissioner provided below.
LOGS LEGAL GROUP LLP
Penny M. Daigrepont,
Louisiana Bar Roll Number 30464
3510 N. Causeway Blvd., Suite 600
Metairie, LA 70002
Phone (504) 831-7726
Fax (504) 837-7622
80895-jun 23-20-jul 7-3t