Bay National Bank shut by the Feds, rehabbers listed as source of financial woes:
Mohler said in an earlier interview the bank ran into problems when the once hot real estate market in Canton and Federal Hill cooled and borrowers who had taken out loans to rehab houses in those neighborhoods had trouble repaying their loans.
As of March 31, Bay National Bank had $282.2 million in deposits and $276.1 million in deposits.
Ted Miller, a lifelong Middle River resident, looks at the shore across from his waterfront home and points to these and other glaring examples of the growing problem of derelict boats in eastern Baltimore County.
Susan Spicer, the homeowner, won her case late last month in Baltimore County Circuit Court against foreclosure consultant New Town Properties LLC and lender Royal Financial Services Inc. Her lawsuit accused the Owings Mills companies and principal Robert Hurd of stealing the equity in her home through a scam.
It’s ironic that Robert Hurd’s residence is currently in foreclosure. Being a scam artist must not be very lucrative these days.