Blackburn says foreclosure notice on Brentwood home bank's mistake
By Mindy Tate, Editor
A foreclosure notice published Thursday on 7th District Congressman Marsha Blackburn's Murray Lane home in Brentwood was the result of her bank's failure to make automatic payments to Countrywide Home Loans, according to her staff.
The legal notice, titled "Substitute Trustee's Sale," said the Blackburns' home would be sold on the steps of the Williamson County Judicial Building on Jan. 29, although her office said the entire issue is a paperwork error by the bank.
Blackburn's spokesperson Claude Chafin late Thursday afternoon provided a letter from GreenBank's Chief Information Officer Bill Adams which said, "It has come to my attention that several electronic payments authorized by (Chuck Blackburn) were not processed by Green Bank as requested, though sufficient funds were in the bank to cover those payments.
"GreenBank has taken the necessary steps with Countrywide Mortgage to ensure that the issue is resolved and the property on Murray Lane is not in foreclosure," Adams wrote.
"Mr. Blackburn has always handled his banking affairs at GreenBank in an acceptable manner and is considered an excellent customer," Adams concluded.
Chafin said the entire experience is an unfortunate event.
"A lot of Americans are frustrated with their bank these days, and the Blackburns are no exception," Chafin said.
The mortgage was placed on the property by Countrywide Home Loans in September 2004 and was a 10-year note, according to paperwork obtained through the Williamson County Register of Deeds' office.
The Blackburns have lived in their home, known as "Up Yonder," for more than 20 years. First elected in November 2002 after serving in the Tennessee State Senate from 1998-2002, Blackburn was a speaker at the 2008 Republican National Convention.
In April 2008, she voluntarily reported to the Federal Election Commission her office's failure to report more than $250,000 in campaign expenditures in over a six-year period and failing at the same time to report more than $102,000 in contributions. In her fourth term, Blackburn has been a member of the Energy and Commerce Committee and the House Financial Services Committee, as well as a member of the Subcommittee on Commerce, Trade and Consumer Protection, as well as Subcommittees on Energy and Air Quality, and Health.
Certain members of Congress have come under fire for their association with Countrywide Mortgage and reported "sweetheart deals" arranged as VIPs, although Blackburn last fall opposed a $700 billion bailout of the financial industry.
Individuals familiar with the mortgage industry say mortgage payments are normally 60 to 90 days delinquent before the foreclosure process commences and an additional 30 days is usually necessary to prepare the foreclosure papers before the first of three foreclosure notices appears in a newspaper.
Posted on: 1/8/2009