Bobby Hurley’s Farm Foreclosed

by August 29, 2010

DRF has the 411: “Former basketball star Bobby Hurley’s Ocala, Fla., farm will go on the auction block Oct. 5 as a result of PNC Bank’s foreclosure on the 140-acre property. Named Devil Eleven Farm in honor of Hurley’s jersey number during his famous career with the Duke University basketball team, the farm is a major asset in PNC’s attempt to recover about $3.3 million in loans and fees. PNC Bank began foreclosure proceedings in late April. According to a report Friday in the Ocala Star-Banner, Hurley listed the farm as collateral for a $2,531,165 mortgage and a $1 million credit line, of which more than $550,000 was used. Interest, attorney fees, and bank charges bring the total due to more than $3.3 million. Court documents filed by PNC Bank say Hurley last made payments on the mortgage and credit line in the spring of 2009. Hurley and his wife, Leslie, agreed not to challenge the foreclosure, clearing the way for the farm’s sale.”