ISAAC HAYES' FORECLOSED HOME UP FOR AUCTION: Late singer's estate in default
on a $1.1 million loan. February 18, 2009
[image: Isaac Hayes]
*The home of late R&B legend Isaac Hayes has been foreclosed and will
be auctioned to the highest bidder next month, according to a notice in
Monday's Memphis Daily News.
His estate is in default on a $1.1 million loan for the
7,205-square-foot home in Cordova, Tenn., a farming village east of Memphis.
The house at 9280 Riveredge Drive sits on 2.88 acres.
In August, Hayes died of an apparent heart attack at the house while
running on a treadmill. It was not immediately clear if Hayes' estate was in
default on the loan following his death, or if the default preceded his
passing.
The soul icon bought the home in May 2002 for $1.4 million from
Dorris E. Burchett and Lula R. Burchett. He financed the home with a $1.1
million loan through Regions Mortgage Inc., dated May 29, 2002. He modified
that loan to an adjustable rate mortgage through Regions Bank in June 2003,
and also filed a $100,000 open-end deed of trust through Regions in October
2003.
--
"I'm selfish, impatient, and a little insecure. I make mistakes, I am out of
control, and at times hard to handle, but if you can't handle me at my
worst, then you sure as hell don't deserve me at my best." ~Marilyn Monroe
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