Franklin County Family Faces Foreclosure Auction: A Franklin County family is struggling with the heartbreaking possibility of losing their dream home due to a foreclosure auction. The auction is scheduled to occur even though the family and the contractor who built the house are in the middle of a court battle. This tragic situation speaks to the hardships of homeownership and the complications that can result from bad deals with contractors.
The Beginning of the Dream: A New Home
Franklin County Family Faces Foreclosure Auction: Tracie Pearsall and her family started what they thought would be the adventure of a lifetime-to build their dream home in Franklin County. Tracie Pearsall hired BMB Contractors, LLC, a construction company owned by Ben Britt, to construct the home that they had always wanted. Filled with hope and anticipation, Pearsall and her husband signed the agreement and transferred the deed to the land to BMB Contractors as collateral for the construction loan that would help build the house.
“I was told that this was the only way to get the loan required to finish our home,” Pearsall said.
Pearsall and her husband would be rewarded with full control over the title to the property after the completion of the residence. Of course, it all went terribly wrong.
The Story of How All Could Have Gotten Heart-Shaped for Some Very Bad Wrongdoing
As construction commenced, various issues started surfacing. Subcontractors hired by BMB Contractors to help finish the house put liens on the property with claims that they had not received payment for services rendered. In this manner, the house would never be fully completed, leaving the Pearsall family at an increasingly dire spot.
Though the Pearsalls were in active negotiations with Ben Britt and BMB Contractors to sort out the mess, they still could not reach an agreement to accept it. The promised house after such tough working was going to be taken away from them.
The Legal Battle: Fraud and Foreclosure
This did not get better as the matter turned worse. The owner of BMB Contractors, Ben Britt, was also charged with a felony. According to the evidence against him, Britt had got the land deed through false pretenses, resulting in criminal charges being filed against him. Aside from the criminal case, Pearsall had filed a civil lawsuit against Britt to recover some money they had invested in that property.
However, even with the cases still in court, a judge decided that the foreclosure auction could go on. The house would be sold to the highest bidder, and it was still in the name of BMB Contractors. Pearsall was shocked and heartbroken by this development.
Facing the Auction: A Family’s Tough Decision
The Pearsalls are left with very little now. More than $180,000 is spent on land purchase and preparation plus the engineering plan needed to complete the house. Despite the cases in court, Pearsall does not hold much hope to get her money back. Almost everything she invested in the property is gone, including her family. She has to be faced with this bitter reality, starting from zero.
According to Pearsall, she is not going to attend the auction when it is held on Thursday. “I am going to be at work working,” she said. “I don’t want to get involved. There will be investors and real estate agencies bidding, and we wouldn’t be able to afford it.
For Pearsall and her family, the psychological impact has been tremendous. “It’s devastation. We feel like we’ve lost everything,” she said in a tearful voice.
What’s Next: Hope for Justice and Financial Recovery
While the Pearsalls are losing their dream home, they are still seeking justice. The civil and criminal cases against Ben Britt are still on, and Pearsall hopes to recover the funds she has already invested. However, she is not expecting a quick resolution.
“We have lost everything. We have to start over, and it is really hard,” Pearsall said. Despite everything, the family is trying to stay positive and continue moving forward.
Table: Key Information on the Case
| Details | Information |
|---|---|
| Family | Tracie Pearsall and family |
| Contractor | BMB Contractors, LLC, led by Ben Britt |
| Land Deed Agreement | Signed over to BMB Contractors as collateral for loan |
| Legal Issues | Charges against Ben Britt for fraud, civil lawsuit pending |
| Investment Lost | $180,000 invested in land, construction, and plans |
| Foreclosure Auction Date | Thursday, date of auction |
| Home Location | Franklin County |