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Fayetteville Bank That Foreclosed On Mountain Inn Site Looking For A Buyer

Bank Of Fayetteville In Process Of Selling Property, Seeking Buyer...

Posted: March 1, 2014 at 5 a.m.

STAFF PHOTO Michael Woods • @NWAMICHAELW The old Mountain Inn site on the corner of West Mountain Street. and South College Avenue is owned by the Bank of Fayetteville. The bank wants to sell the lot. City economic development officials and neighbors would like to see something done with what they call an eyesore.

FAYETTEVILLE -- The Mountain Inn property, which has been a hole in the city skyline for several years, should be for sale soon.

Legal Lingo

Foreclosure

The legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.

Source: Staff Report

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