CDFC takes title to lot owned by former loan officer

February 20, 1997|BY A SUN STAFF WRITER

The Baltimore Community Development Finance Corp. formally took title yesterday to a vacant lot at 5426 Clover Road in Northwest Baltimore that had been owned by a former loan officer of the quasi-public agency.

The property near Pimlico Race Course went on the auction block yesterday, but no bidders showed up. CDFC vice president Wayne R. Frazier said his agency has not decided whether to sell the lot or build a house on it and then offer it for sale.

The property was purchased two years ago by Deborah Bass, then a CDFC loan officer. She got a loan from the agency for $120,000 and about $80,000 is owed.

Frazier said Bass had failed to build a house on the property as required.

An attorney for Bass, who was fired from her job last year, has disputed the right of the corporation to take title to the property.

Pub Date: 2/20/97

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