Bank seeks foreclosure on home equity loan

Kelly Holleran Oct. 20, 2014, 9:34pm

A bank has filed an application for a court order to allow a foreclosure after a Port Arthur couple allegedly failed to make six monthly payments on their home equity loan.

The Bank of New York Mellon, formerly known as The Bank of New York, wants to foreclose on a home equity loan secured by Elisabeth and Frederick H. Taylor of 3001 Woodrow Drive in Port Arthur. 

On Jan. 26, 2005, the Taylors sold property to Anthony H. Barone to secure the payment of a debt under the Texas Home Equity Security Instrument, according to the petition. The Taylors are obligated to pay the debt, the suit states.

"As of Aug. 19, the obligation secured by the lien sought to be foreclosed has been in default since March 1, 2012, and is due for six unpaid scheduled payments and all subsequent payments," the complaint says. "As of Sept. 18, the amount needed to cure the arrearage is $4,187.77."

In its complaint, the bank seeks a court order to sell the property.

It will be represented by attorney Selin H. Taherzadeh of Addison.

Jefferson County District Court case number: D196-074

This is a report on a civil lawsuit filed at Jefferson County District Court. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt and it represents only one side of the story.

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