Texas: Cowboys Dancehall Set to Be Sold at Foreclosure Auction

Texas

Texas: Cowboys Dancehall Set to Be Sold at Foreclosure Auction

Cowboys Dancehall, the popular bar and country music venue on the Northeast Side, will be put up for sale at a foreclosure auction next month.

Cowboys Far West Ltd., the Arlington-based partnership that owns the venue, has defaulted on payments for the 16.6-acre property at the crossing of Loop 410 and Interstate 35, according to foreclosure listing service RexReport.com and a notice posted on the county’s website. The property is set to be offered at a public auction on July 5 at the Bexar County Courthouse.

A representative of Cowboys didn’t immediately respond to a request for comment on Tuesday morning.

The property, which Cowboys Far West has owned since 2003, was assessed at more than $5.3 million this year by the Bexar Appraisal District. The owner has borrowed a total of $7.5 million on the property through two deeds of trust in 2007 and 2008, according to county property records.

Rest here…

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4closureFraud.org

Comments
2 Responses to “Texas: Cowboys Dancehall Set to Be Sold at Foreclosure Auction”
  1. The owner has borrowed a total of $7.5 million on the property through two deeds of trust in 2007 and 2008, according to county property records.

  2. BOBBI SWANN says:

    Obviously they got caught up in the ‘bubble’ for real estate that was over-valued. Sadly, they pulled out the false equity like so many other millions of homeowners. Commercial properties don’t fall under HARP or HAMP and commercial lenders are less likely to re-negotiate their mortgages. Plus, commercial properties values are largely based on the income they produce and if there’s a loss there, i’s almost fatal to the owners!

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