First Security Bank Forecloses on Dennis Smiley Home

by George Waldon  on Monday, Aug. 11, 2014 12:00 am  

The home of Dennis Smiley Jr. at 56 Champions Blvd. in Rogers.

First Security Bank of Searcy has opened a new legal front with Dennis Smiley Jr.

The bank filed a foreclosure lawsuit on a $200,000 loan secured by Smiley’s home in Rogers.

Arvest Bank of Fayetteville holds a first mortgage on the property that Smiley and his wife, Cynthia, purchased for $385,000 in April 2012. The original April 2012 loan totaled $308,000.

Until recently, Benefit Bank of Fort Smith held a third mortgage that originally totaled $40,000 in January 2013. Arvest Bank acquired the loan from Benefit in May.

Earlier this year, the 3,160-SF home in the gated Pinnacle neighborhood was on the market with a list price of $649,000.

 

 

Please read our comments policy before commenting.