Thursday, August 4, 2011

One day late with mortgage payment, gas station owner could lose business to foreclosure

One day late with mortgage payment, gas station owner could lose business to foreclosure - St. Petersburg Times
Saji Mathew, standing Wednesday outside his Mobil station at Duhme Road and 54th Avenue N, is trying to prevent BB&T from foreclosing. A trial is set for December.

ST. PETERSBURG — Saji Mathew missed the Oct. 12 mortgage payment on the Mobil gas station he co-owns.

On Oct. 13, he took the money to the bank, thinking that would make things right.

He tried to make his November and December payments as well. But each time, BB&T kicked back his money.

Ten months later, Mathew is still trying to pay. In circuit court on Tuesday, he offered BB&T $50,000, the total amount due since October.

BB&T didn't want the money.

It wants the gas station.

"They won't take my money,'' said Mathew. "I want them to take it. I was one day behind paying the mortgage."

BB&T's stance flabbergasted the judge in the case.

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