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Article: Northwest home troubles.(Whispers)(Brief article)
- Article from:
- Arkansas Business
- Article date:
- September 8, 2008
CopyrightCOPYRIGHT 2008 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Another northwest Arkansas homebuilder has filed for Chapter 7 bankruptcy protection.
Michael Boston, who owns M&T Wood Specialties Inc. of Pea Ridge, listed $3.4 million in debts and $1.2 million in assets.
Most of the debts were secured and tied to several spec homes in Pea Ridge. ANB Financial of Bentonville held nearly all the mortgages on the homes. (Of course, federal bank regulators shut down ANB in May.) Boston said in the filing that all the property would be surrendered.
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