NOTICE OF DEFAULT AND FORECLOSURE SALE
297 Old Bath Road,
Wiscasset, Maine 04578
Maxine D. Croxford
297 Old Bath Road
Wiscasset, Maine 04578
Town of Wiscasset
51 Bath Road
Wiscasset, ME 04578
Secretary of Housing
and Urban Development
451 Seventh Street, S.W.
Washington, D.C. 20410
WHEREAS, on February 19, 2010, a certain Fixed Rate Home Equity Conversion Mortgage was executed by Maxine D. Croxford as mortgagor in favor of One Reverse Mortgage, LLC as mortgagee, and was recorded in the Lincoln County Registry of Deeds on March 11, 2010, in Book 4257, Page 178 (the Mortgage); and
WHEREAS, the Mortgage was insured by the United States Secretary of Housing and Urban Development (the Secretary) pursuant to the National Housing Act for the purpose of providing single family housing; and
WHEREAS, the Mortgage is now owned by the Secretary, pursuant to an assignment dated June 25, 2013, and recorded in the Lincoln County Registry of Deeds on September 20, 2016, in Book 5053, Page 241; and
WHEREAS, a default has been made in the covenants and conditions of the Mortgage in that the premises described in the Mortgage are no longer occupied by the mortgagor and the balance due was not made and remains wholly unpaid as of the date of this notice; and
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 Secretary’s designation of me as Foreclosure Commissioner, recorded in the Lincoln County Registry of Deeds on May 8, 2019, in Book 5380, Page 216, notice is hereby given that on Tuesday, August 13, 2019 at 2:00 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:
A certain lot, with the buildings thereon, situated on the West side of the Old Nason Road, so called, in the Town of Wiscasset, County of Lincoln, State of Maine, bounded and described as follows:
Beginning on the West side of said road on the stone wall that separates the lot hereby described from the land formerly owned by James Grover; thence Westerly 300 feet, more or less, by said stone wall to a stone wall that intersects and runs Northerly; thence Northerly thirty-nine rods, more or less, by said intersecting stone wall to an iron stake driven in said wall; thence Easterly three hundred feet, more or less, to an iron stake driven in the ground on the West side of said Nason Road; thence Southerly by said Nason Road thirty-nine rods to the point of beginning.
Commonly known as: 297 Old Bath Road, Wiscasset, Maine 04578
Tax Parcel ID: Map U23 Lot 001
The sale will be held on the front steps of the Lincoln County Courthouse, 32 High Street, Wiscasset, ME 04578. The Secretary reserves the right to adjourn the time and place of the sale by announcement made to those present.
Other Interested Parties:
Secretary of Housing and Urban Development by virtue of a mortgage recorded in the Lincoln County Registry of Deeds on March 11, 2010, in Book 4257, Page 193; and
Town of Wiscasset by virtue of a tax lien recorded in the Lincoln County Registry of Deeds on September 20, 2018 in Book 5306, Page 178.
There will be no proration of taxes, rents or other income or liabilities, except that the purchaser will pay, at or before closing, his pro rata share of any real estate taxes that have been paid by the Secretary to the date of the foreclosure sale.
The commissioner will accept written one-price sealed bids up until the time of the sale from any party including the Secretary so long as those bids conform to the requirements described in this notice. The commissioner will also accept oral bids from any party at the time of the sale, including parties who submitted one-price sealed bids. When making their bids, all bidders except the Secretary must submit a deposit totaling $5,000.00 in the form of a certified check or cashier’s check made payable to the Secretary of HUD. 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 cashier’s 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 cashier’s 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 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, together with any such other amounts as may be owed as set forth below, are tendered to the Foreclosure Commissioner, in the form of a certified or cashier’s 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 shall include 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 Commissioner’s 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 cashier’s check or application for cancellation of the foreclosure sale shall be submitted to the address of the Foreclosure Commissioner provided below.
Additional terms and conditions of sale may be announced at the sale.
Date: July 12, 2019
/s/ Leonard F. Morley, Jr.
Leonard F. Morley, Jr., Esq., #3856
707 Sable Oaks Drive,
South Portland, Maine 04106
Phone: (207) 775-6223
Fax: (207) 775-6995