Mayfield's Home To Be Auctioned April 30

dpkimmel2001

dpkimmel2001

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Another 'sad' update on this Mayfield story.....


Just days after having the latest appeal in his ongoing lawsuit against NASCAR denied by the 4th U.S. Circuit Court of Appeals, Jeremy Mayfield appeared in Catawba County (NC) Superior Court Monday to answer charges that he owes more than $3 million in past-due mortgage payments on his home and property.

Court documents show that Mayfield and his wife, Shana, took out a pair of mortgages on their home and 455-acre property with Carolina Farm Credit on July 28, 2006; loans totaling $3,127,500. They made regular payments on the loans for approximately three years, but fell into default after Mayfield was suspended from NASCAR for failing a drug test in May of 2009. Approximately $2.4 million in principal is still owed on the mortgages, along with an additional $392.40 in daily interest charges amounting to some $334,700.

Foreclosure proceedings began in December of last year, and Mayfield’s property is scheduled to go on the auction block at the Catawba County Courthouse in Newton, NC, on Monday, April 30. Mayfield disputes the specifics of the case, telling reporters, “those numbers ain’t right” and claiming he is “working on something” to save his home from the auctioneer’s gavel. If he is unable to pay the outstanding debt by April 30, Mayfield must vacate the premises by May 10.

Mayfield also faces multiple felony charges related to a November raid on his home by Catawba County Sheriff’s Department Deputies that uncovered 1.5 grams of methamphetamine, a cache of firearms and thousands of dollars in stolen goods. He is due back in court on those charges June 25.
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From here.
 
It's hard to understand why he didn't sell off a bunch of his property 3 years ago to avoid this. If he thought he could pay those bills on a delivery mans salary, he must be high.
 
3 MILLION in arears and he's still living in the home? How does that work?
 
Well there is no cup race this week, so it is a good time to study and educates ones self during the down time.


I decided to calculate the $19,000 monthly mortgage cost against the price of a being a heavy "high end" Meth head.
Note: this does not factor in the associated stupids that accompany the habit.
Just the pill $ cost per individual = $6000
and the mortgage cost = $ 19,000

Source:

A heavy user may spend up to $ 400 a day, but there is crash time, so $ 6000 is the high end of estimated cost for heavy users per month.


So Jeremy was even dumber on the house, and could have learned something from the trailer park Meth heads. Even if the wife was one too, he still was more house poor than Meth poor.


If he had wanted to run a Meth farm to finance a race team, he would have also been better off running one South of the border.
Cheaper labor too.
 
A little more detail on all of this crap.....


NEWTON, N.C.—Suspended NASCAR driver Jeremy Mayfield, who faces nine criminal charges in two North Carolina counties, is scheduled to have his property sold at auction April 30.
Mayfield, suspended since May 2009 for what NASCAR says was a failed drug test for methamphetamines, took out a $3.1 million mortgage in July 2006 and has failed to make his payments, according to the foreclosure initially filed in December in North Carolina Superior Court in Newton, N.C.
That has resulted in the lender, Carolina Farm Credit, calling for Mayfield to pay the balance of $2.387 million, plus more than $415,000 in interest and fees, according to the filing.
The clerk of court issued a foreclosure order in February, and the date for auction of the approximately 400 acres has been set for April 30 at the Catawba County (N.C.) courthouse. Mayfield has until 10 days after the auction to pay off the balance.
Mayfield said at the courthouse Monday that he hopes to be able to work with the lenders to keep the property and that he probably would be able to stay in his house if he wants to remain there.
“There’s a pretty good chance [we will],” Mayfield said. “We’re not sure what we’re going to do. We might move on. Who knows?”
The foreclosure is only one of Mayfield’s legal issues. Mayfield appeared at the courthouse Monday afternoon on one felony count of possession of methamphetamine, three felony counts of possession of stolen goods and one count of obtaining property under false pretenses. He faces a maximum of 14 years in jail on those charges, which stem from a Nov. 1 search of his property.
He spent only about a minute in court Monday as the prosecutor requested that the case be postponed to allow for more research into the evidence. A new court date was set for June 25.
“I’m doing as good as I can with everything going on,” Mayfield said. “We’re just working hard trying to get it all behind us and moving forward and really ready to move on.
“Some great things hopefully will happen once we get all of this stuff behind us.”
He also faces four felony larceny charges in neighboring Caldwell County. His first court date on those charges is April 30.
Mayfield also is trying to decide whether to continue his case against NASCAR over the May 2009 drug test that Mayfield says he failed because of a mix of Adderall and Claritin-D.
A three-judge U.S. Court of Appeals panel last week rejected Mayfield's request to reopen the case, and he has one more week to decide if he will ask for all the judges from the 4th Circuit to hear the case, which typically is the first step before appealing to the U.S. Supreme Court.
“We haven’t decided yet [what we’ll do],” Mayfield said Monday. “[My attorneys] are looking into it … and we’ll see what happens.”
Mayfield, who had five Cup wins in 433 career starts, also faces judgments of more than $2.1 million for unpaid bills, services and North Carolina state taxes as well as more than $111,000 in county property taxes, according to court documents.
Mayfield was credited with $33.6 million in racing winnings during his career, but that typically is split between the driver and team.
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