LEGAL NOTICE: NOTICE OF DEFAULT AND FORECLOSURE SALE 705 S. CHURCH STREET, FERRIS, TX

Publish three times in The Ellis County Press on Thursday, March 11, 2021, Thursday, March 18, 2021 and Thursday, March 25, 2021.

NOTICE OF DEFAULT AND FORECLOSURE SALE

WHEREAS, on July 24, 2008, a certain Adjustable Rate Home Equity Conversion Deed of Trust (“Reverse Mortgage”) was executed by GARDALINE ELLIS, as mortgagor in favor of GENERATION MORTGAGE COMPANY, as mortgagee and ROBERT K. FOWLER, as trustee, and was recorded on October 3, 2008 under Clerk`s Instrument Number 0824710, Book 2413, Page 1105 in the real property records of Ellis, Texas.

WHEREAS, the Reverse 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 beneficial interest in the Reverse Mortgage is now owned by the Secretary, pursuant to an assignment dated November 1, 2018, and recorded on November 14, 2018, under Clerk`s Instrument Number 1832993 in the real property records of Ellis County, Texas; and

WHEREAS, a default has been made in the covenants and conditions of the Reverse Mortgage in that the Mortgagors are now deceased; and

WHEREAS, the entire amount delinquent as of April 6, 2021 is $149,940.06; and

WHEREAS, by virtue of the default, the Secretary has declared the entire amount of the indebtedness secured by the Reverse 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 on October 15, 2007 in Dallas County under Clerk’s File Number 20070369306, notice is hereby given that on April 6, 2021, at 01:00 PM local time or no later than three hours thereafter, 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: 

BEING THE SOUTH HALF OF LOT 2 AND ALL OF LOT 3, BLOCK 9, OF ANDREWS ADDITION , AN ADDITION TO THE TOWN OF FERRIS, ELLIS COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 196, PAGE 517, OF THE DEED RECORDS OF ELLIS COUNTY, TEXAS.

Commonly known as: 705 S CHURCH STREET, FERRIS, TX 75125.

The sale will be held in Ellis County, Texas at the following location: THE SOUTH PORCH OF THE COURTHOUSE OF ELLIS COUNTY OR AS DESIGNATED BY THE COUNTY COMMISSIONER`S OFFICE or as designated by the County Commissioners Court.

The Secretary of Housing and Urban Development will bid $149,940.06.

There will be no proration of taxes, rents or other income or liabilities, except that the purchaser will pay, at or before closing, his prorate 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 $14,994.01 in the form of a certified check or cashier’s check made out to the Secretary of HUD. A deposit need not accompany each oral bid. If the successful bid is oral, a deposit of $14,994.01 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 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 extension 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 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 paid in full prior the scheduled sale is $149,940.06, 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 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.

Date: March 8, 2021

Keller Mackie

Foreclosure Commissioner

Mackie Wolf Zientz & Mann, P.C.

Parkway Office Center, Suite 900

14160 Dallas Parkway

Dallas, TX 75254

(214) 635-2650

(214) 635-2686 Fax