The Los Alamos National Bank has postponed a foreclosure auction of the Hilltop House Hotel until March 15, according to owner Ron Selvage.
The hotel was scheduled to be auctioned off by the special master appointed by the First Judicial Court at 11:45 a.m. Wednesday on the steps of the Los Alamos County Justice Center.
But the bank decided to give Selvage an extension.
Selvage said the deal he had made with a potential buyer a couple of weeks ago fell through. But, according to Selvage, there are two other interested parties.
Los Alamos National Bank president Steve Wells confirmed the date was pushed back.
“I know we delayed it,” Wells said. “Facilitating a business transaction can take a long time. March 15 sounds about right.”
The Los Alamos National Bank put the wheels in motion to foreclose on the company that owns and manages the Hilltop House Hotel back in October.
According to the legal notice that appeared in the Los Alamos Monitor, the total amount awarded by the judgment to LANB with interest to the date of the sale is $4,531,155,69 plus additional costs and attorney fees. The amount of interest to date is $521,785.36.