Edmund Ford buys his mortuary on the cheap. Allegedly.
Someday, I’ll be able to check the news without hearing about our own Kennedy-lite family. Here’s the real estate related Ford family news, whether you like it or not. Check out this news story, and then check out the (conspiracy?) theory about “the rest of the story”.
From the Commercial Appeal:
Memphis City Councilman Edmund Ford may be able to keep his mortuary in its Whitehaven home after all.
His landlord, Dennis Churchwell, had threatened to auction off the 5.8-acre property on Elvis Presley because of its notoriety. It’s where Ford was allowed to rack up a five-digit Memphis Light, Gas and Water Division bill, touching off a scandal that led to the resignation of the utility’s president.
But after the live auction Saturday afternoon, the property’s only bid came from a lender of the Supreme Lending Group in Memphis, who offered Churchwell $750,000 to purchase the property on Ford’s behalf…
At Saturday’s auction, held in a cavernous warehouse on Elvis Presley, there were no initial offers for the four parcels of land located on 3390, 3396, 3398 and 3402 Elvis Presley that contain Ford’s mortuary and car repair shops.
Churchwell had almost given up on selling his property and had assumed that “no one else wants to get into this mess,” he said.
But Monger showed up to the auction 30 minutes late, saying he was tied up at his son’s high school graduation.
Because no one else had bid on the property, he was able to grab it for much below its asking price of $1.4 million.
Churchwell enthusiastically accepted the $750,000 offer.
“When I get that green in my hand, the monkey will be off my back,” he said.
What is up with the Ford family and being late? Ophelia Ford was late for her committee meeting where she started ranting like a crazy Paula Abdul, they can’t show up on time for a property auction, and I am just waiting, WAITING, for the next shoe to drop with John Ford.
I’ve been in Memphis for less than three years, but I still can’t keep all the Fords straight. I need a flowchart or a diagram of who is who’s daddy (or not), who’s been indicted (or not), and which ones are crazy (or not). If anybody knows of a link to “The Ford Family for Dummies”, please let me know.
And from my favorite “Angry Memphis Blogger”, Thaddeus Matthews:
How did Ford’s credit all of a sudden become good enough to borrow $750,000? If he was struggling just two months ago to come up with $16,000 to pay MLGW,what has changed his financial status so soon?
I’m sorry but I don’t think that a deal has taken place at all. Here’s what I believe happened. Churchwell is under the gun from the FBI for bragging…that Ford has never paid him any rent because he was able to use Ford to use his political influence…When this fact went public first on this site and then from other media sources, Churchwell needed a way to either be able to prove that Ford had payed him rent, or get rid of the property.
I think that Ford…cut a deal with Churchwell to keep his mouth closed about their arrangements if Churchwell turned the property over to him…Ford has a personal friend in the mortgage loan business tell Churchwell that he will purchase the property for $750,000. With both knowing that an exchange of funds or title will not change hands. This is just a ploy to throw the FBI off.
Very Interesting. The property is supposed to change hands tomorrow. We shall see.
