Home Foreclosure And $1.6 Million Texas Judgment Visited On Steve Clary

by Arkansas Business Staff  on Monday, Mar. 1, 2010 12:00 am  

Creditors Come Calling

More creditors are knocking on the door of Little Rock developer Steve Clary.

U.S. Bank of Minneapolis is pursuing a foreclosure action on his home in west Little Rock's gated Hickory Hills neighborhood. The bank holds a first mortgage that totaled $750,000 when it was originated in July 2001.

The residence also helps secure an open-ended mortgage of $583,700 held by Bank of America in Charlotte, N.C., and a July 2007 line of credit for $1.5 million with Centennial Bank of Conway.

Fourth in line is/was a $1 million claim by Waterford Investors LLC of Oklahoma City. This mortgage was given as collateral toward the repayment of a $6 million judgment the limited liability company landed against Clary on June 12, 2009.

Plains Capital Bank of Dallas recently registered a $1.6 million judgment against Clary dating from May 2009. The bank received a default judgment in Dallas after Clary missed a May 14 deadline to respond to the complaint.




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