West Virginia Gov. Jim Justice reached an agreement that will save The Greenbrier, a historic hotel owned by the governor and his family, from being sold in a foreclosure auction.
Justice bought the historic Greenbrier out of bankruptcy in 2009. The property dates back to the 1700s and is considered a National Historic Landmark. However, JPMorgan Chase (NYSE: JPM) sold a longstanding loan on the property to a credit collection subsidiary of Beltway Capital, which declared it to be in default. A foreclosure auction was announced for Aug. 27 that would have encompassed 60.5 acres of the Greenbrier property, including the hotel and its parking lot.
The Associated Press reported the Justice family announced that Beltway Capital will “receive a specific amount to be paid in full by Oct. 24, 2024.” Earlier this week, Justice family attorneys filed a motion for a preliminary injunction to try to halt the foreclosure auction.
Justice is a Republican running for U.S. Senate seat being vacated by Sen. Joe Manchin, a Democrat turned independent. A Justice victory in the election is considered crucial for Republicans to regain Senate control, and the Justice family accused the foreclosure of being a “political stunt” by JPMorgan Chase CEO Jamie Dimon, citing his ties to the Democrat Party.
Property photo courtesy of The Greenbrier
If its a stunt, the lender should be punished severely. I’ve had lenders pull stunts on me several times.
Dreki writes like a typical MAGA GOP … Attacking with no substance or valuable imput.
We made a comment on a Governor who wants to be a Senator yet can’t handle the debts he’s incurred.
A Foreclosure Auction on a National Historic Landmark by a wanna be US Senator should never be taken lightly.
I hope he does “Pay a Specific Amount in Full” on October 24th.
Dreki’s comments sound just like the Lying Felon and Fool he appears to endorse.
So Jim Justice thinks he’s being unfairly targeted… he’s in default on a National Historic Landmark, and wants to be a US Senator … but he has problems paying his Debts.
What a great example of business acumen … Default, Bargain, Auction, Promise, Postpone.
Could it be he’s taking notes, and does business like his pal Debtor J Rump.
You’re a typical IDemocrat – totally ignorant on financial issues. If you don’t know what you’re talking about, STFU.
The property must have been bought at a bargain basement price by Jim Justice in 2009 if he bought it out of bankruptcy. If he’s remortgaged it and is in default 15 years later, he’s just another crooked politician who whines when he’s gotten himself in a jam and is looking for another sweetheart deal and all his troubles are the other political party’s fault. There have been many of these types of politicians by both parties but Donald was the first of these to make it all the way to the White House.
Ditto my comment to Bkb from Ohio.
🎯🎯🎯
He didn’t take money from his campaign to pay on the hotel, which is obviously still struggling. That’s a good thing, albeit somewhat embarrassing. He obviously has been distracted. I hope it all works out. I don’t dislike Jamie Dimon or Chase, I do business with Chase; but what would a corporation do with something like that if not break in into a million profitable pieces.