The Ridges at Mountain Harbour foreclosure postponed by N.C. court

Foreclosure proceedings on the $25 million The Ridges at Mountain Harbour property in Hayesville, N.C., were postponed in mid-February to allow the club owners and the bank lender to negotiate another solution.
The Ridges at Mountain Harbour development was purchased in 2000 by National Investments LLC, whose managers are listed as Scotty Fain, Joseph Milo and Fernando Gandon.
The development has a Willard Byrd-designed 18-hole golf course, part of a 157-acre tract involved in the bankruptcy proceedings that includes additional developable land valued at over $3 million. In addition to the bank loans due, the property owners owe the county back taxes valued at approximately $16,000.


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