Mark Darr says foreclosure being worked out | Arkansas Blog

Friday, September 21, 2012

Mark Darr says foreclosure being worked out

Posted By on Fri, Sep 21, 2012 at 11:53 AM

FORECLOSURE WORKOUT: Lt. Gov. Mark Darr said a solution to bank arrearage in the works.
  • FORECLOSURE WORKOUT: Lt. Gov. Mark Darr said a solution to bank arrearage in the works.
Lt. Gov. Mark Darr has given a statement to Talk Business responding to an article this morning about a bank foreclosure on his Springdale home because of four months of nonpayment of two loans totaling almost $286,000. In the statement reported by Talk Business, Darr quibbled with some of the Democrat-Gazette reporting and also injected a suggestion he's been a political victim, but conceded financial problems he hoped to fix quickly.

I was asked a question by a reporter at 4:59 yesterday afternoon about a foreclosure on a home I own. At that late hour, it was impossible to handle this matter before the close of business and before what I was told was a 5:30 pm deadline by the reporter. It was certainly news to me & you won’t hear this from me too often…. But thank God for this reporter.

I was however misquoted in the paper when I was asked if I was 4 months behind. The paper said I told them I hadn’t missed any payments, but I actually told them I wasn’t 4 months behind.

We were behind on a payment because we purchased a new air conditioner to replace one for our renter in this property but we were to be caught up by 10/01 based upon my statements. This would include any past due. So my records were different than the bank’s.

I was told by the paper that Ms. Cung was the lawyer representing the bank in this matter. I have met Ms. Cung on several occasions in the past year as she was running for a judicial spot — a race in which I endorsed her opponent.

The paper was the only notice or contact that I’ve had regarding the foreclosure. When I drove through the drive through to make my payment a few weeks ago, I was not alerted by the employee that there was an issue or problem with my loan. I have had no contact from Signature Bank. I tried to call them yesterday and today & finally reached them. We have fixed the issue and hopefully it will be resolved by the end of business today or at the latest Monday.

After speaking with them they wanted to resolve this discretely… So please keep it between me, you and every paper in Arkansas.

Kim and I are certainly not wealthy individuals. Elected officials feel the hardships of this economy as well and over the past 2 years we have certainly felt it. I’m no different than the majority of people who sometimes have more month left at the end of their money.

Thank you to so many who have emailed, texted, inboxed and called to show your concern and support. It means the world to Kim and me.

This is the shorter statement the Darr office gave me:

"Kim and I are certainly not wealthy individuals. Elected officials feel the hardships of this economy as well and over the past two years we have certainly felt it. I was aware I was behind, but was not aware of the extent. I am meeting with the lending institution today and hope to have this matter properly resolved."


A spokesman confirmed to me that Darr no longer owns MAD Pizza. It is now owned by his father-in-law, with whom he was a partner. Maybe Darr wasn't joking when he told me he'd left a rental apartment he had in Hillcrest because he couldn't afford the neighborhood.

Now to Google:

* HE DIDN'T BUILD THAT: Darr on Obama and free enterprise.

* IRRESPONSIBLE SPENDING

And, say, isn't Darr the guy who claims invention of the on-line checkbook? He's a balanced budget advocate — for government anyway.

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