A Superior Court judge has ruled that a proposed foreclosure sale affecting roughly a dozen homeowners in a Statesville subdivision cannot move ahead.
Judge Anna Mills Wagoner’s Tuesday ruling is a victory for the homeowners in the Fox Den subdivision, who learned last year that their properties faced foreclosure over money the community’s developer borrowed a decade ago.
Attorneys have said it appears the unpaid loan, which remains tied to the properties, was not discovered during title searches when the homes were bought.
Foreclosure proceedings against the properties began when the children of an investor who lent money to develop the subdivision sought to have it repaid. That investor, Dwight Goforth, died in 2004.
Attorneys say the Goforth heirs will have 30 days to file an appeal. An attorney for the heirs could not be immediately reached for comment.
Homeowners said they were relieved by Wagoner’s ruling.
Lynn Zanotti and her husband, Allan, had their Fox Den home built in 2008 for $292,000. The Zanottis said they have made roughly $80,000 in improvements to their property and have lost sleep worrying about losing it to a foreclosure sale.
“We’re just ecstatic,” Lynn Zanotti said after the ruling. “After a year and a half, (it’s) a big weight off our shoulders.”