Former Atlanta pitcher faces foreclosure
A former long-time pitcher for the Atlanta Braves is now facing foreclosure on a property he owns in Wyoming, according to a local newspaper. This situation shows that the ongoing housing market slump is having a devastating effect on people throughout Georgia and the country as a whole, regardless of career, status, or financial situation.
According to the Jackson Daily Hole newspaper, former Atlanta Braves pitcher John Smoltz is in danger of losing his Wyoming home to foreclosure. He is believed to owe approximately $1.6 million to Wells Fargo Bank for payment on a lot in the Snake River Sporting Club. If he is unable to make his payments or otherwise strike a deal with Wells Fargo, Smoltz’s property will go up for auction on August 23.
Smoltz first purchased the property in 2005, taking out a mortgage from Jackson State Bank and Trust for $1.6 million. The mortgage appears to have been sold or otherwise changed hands to Wells Fargo Bank.
The Snake River development has been in the news both locally and nationally in recent years. It has changed hands several times in the past decade, and has been at the center of a major national bankruptcy case.
Although Smoltz was a major league pitcher for more than 20 years, he spent the majority of his baseball career with the Atlanta Braves. During his prolific career, he won a World Series Championship with Atlanta, the Cy Young Award, and also made the All-Star Team eight times. He retired from baseball in 2009, and has been working as a sports broadcaster since.
Source: Atlanta Journal-Constitution, “Smoltz faces foreclosure in Wyoming,” Fran Jeffries, August 9, 2011
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