Manatee County Government Administrative Center First Floor, Commissioner Chambers 9:00 a.m. - January 29, 2013
REVISED January 29, 2013 Regular Meeting
Agenda Item #14

U.S. Bank National Association vs. Lisa Beckwith, Case No. 2011-CA-7677

Briefing Provided Upon Request

Contact and/or Presenter Information

James R. Cooney, Assistant County Attorney

Ext. 3750

Action Requested
Authorization to permit the County Attorney, or his designee of the County Attorney's Office, to enter into a Settlement Agreement with U.S. Bank National Association, the first mortgagee of the property owned by Lisa Beckwith, at 1703 54th Avenue East, Bradenton, for which Manatee County holds the third mortgage.

Enabling/Regulating Authority

Sec. 768.28, Florida Statutes

Background Discussion
This property at 1703 54th Avenue East, is the subject of a foreclosure action in Case No. 2011-CA-7677.  U.S. Bank National Association, the first mortgagee, holds a mortgage in the amount of $143,013.00 of which the unpaid balance on the principal is $131,324.03.  It has filed a complaint to foreclose its mortgage.  Defendant Manatee County holds a third mortgage of $15,000.00 through the State Housing Initiative Partnership (SHIP) program.  Florida Housing Finance Corporation holds the second mortgage in the amount of $10,000.00.  U.S. Bank National Association, is tendering the sum of one thousand dollars ($1,000.00) to release Manatee County's third mortgage in a short sale for $54,000.00.  If the foreclosure action should proceed to the sale of the property Manatee County is certain to receive nothing on its mortgage.  The Property Appraiser shows this property value at $58,008.00.  The County Attorney's Office recommends approval of this settlement offer. 

County Attorney Review
Other (Requires explanation in field below)

Explanation of Other
CAO Item.

Reviewing Attorney

Instructions to Board Records
Please return stamped copy of this Agenda Memo to Attorney James R. Cooney following disposition. 

Cost and Funds Source Account Number and Name

Amount and Frequency of Recurring Costs

Attachment:  Beckwith - HUD Settlement Statement.pdf
Attachment:  Beckwith - US Bank Appr.pdf
Attachment:  Beckwith - FL Housing Appr.pdf