LITTLE ROCK, Ark. — (Eds. note: The video below is from April 21, 2023)
Big Country Chateau has had its mortgage foreclosed in an order issued by a Pulaski County Circuit Judge this week.
The foreclosure comes after the complex failed to make payments on the mortgage, spanning from Dec. 1, 2022, through Feb. 28, 2023.
According to the court order, Big Country Chateau owes the Federal Home Loan Mortgage Corporation, also known as "Freddie Mac," more than $5.2 million in unpaid mortgage.
If Big Country Chateau fails to pay within 10 days after the foreclosure order, then Freddie Mac will be eligible to schedule out an auctioning of the property at the county courthouse.
This auction would be similar to Park Plaza Mall's that happened in 2021. Pulaski County Clerk Terri Hollingsworth said if there is an auction, it would be sometime this summer.
Following the announcement of the potential foreclosure, Arkansas AG Tim Griffin shared the following statement:
"This foreclosure is another example of the owners of Big Country Chateau failing to pay their bills. This is why I filed suit against them for violating our state's Deceptive Trade Practices Act by taking rents and failing to pay utilities as promised in the lease agreement," AG Griffin said.
This foreclosure order comes after months of action against the apartment complex by AG Griffin, local tenants, and other Arkansans.
The attorney general filed a motion in the Pulaski County Circuit Court on April 21 to hold the owners of Big Country Chateau apartments in contempt of court amid a series of code violations.
The Attorney General said at the time that the owners had refused multiple times to cooperate with local courts, calling it an 'insult' to customers and the Arkansas justice system.
Big Country Chateau received new management back in March and Little Rock city leaders pushed for code violations against the apartment complex in late February.
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