The C’ville Bubble Blog reports this morning that there are 11 foreclosure auctions scheduled for today—including one for the home of Michael Aked, Managing Director of the University of Virginia Investment Management Company. Aked’s home was purchased in 2007 for roughly $1.4 million, and is listed for sale at nearly half the cost. As the Bubble Blog points out, the May 26 foreclosure auctions amount to "$21 million of loss to mortgage lenders."
The sale is slated for 4pm today, on the steps of the Albemarle County Circuit Court. Be reminded, however: The issues behind such auctions are often resolved prior to the event.
