In addition to his legal troubles, former NASCAR driver Jeremy Mayfield now faces losing his home and land because he owes nearly $3 million for the property. Mayfield, 42, was in Catawba County Superior Court Monday on five felony charges that stem from a search warrant that was executed at his Catawba home in November. He is facing one count of possession of methamphetamine for 1.5 grams officers found in his home, three counts of possession of stolen goods and one count of obtaining property by false pretenses. Mayfield’s next court appearance will be June 25. Mayfield and his wife, Shana, owe [money] on their 455 acres of property. The couple own five tracts of land, and took out two mortgages from Carolina Farm Credit on the combined acreage: one for $2.28 million and the other for $847,500, both on July 28, 2006. Although the Mayfields made some payments on the combined $3,127,500 debt, they were unable to keep up with the payments after Mayfield was suspended from NASCAR. As of Sept. 13, the Mayfields still owed about $2,387,130 on the principal for the two mortgages and an additional $334,700 in accrued interest. The mortgage company added daily interest of $392.40, as well as an additional fee of $1,000, according to court documents. Foreclosure proceedings began on Dec. 13, 2011. The property will be put up for auction on April 30 at 12 p.m. at the Catawba County courthouse in Newton. It will be given to the highest bidder. The Mayfields have 10 days to be out of their home after the auction, unless they have the money to pay off their debt on April 30, said Al Jean Bogle, clerk of superior court. That is not something Jeremy Mayfield is ruling out. ‘I ‘m working on something,’ Mayfield said.(Hickory Daily Record)(4-3-2012)
