Mollohan Property Faces Foreclosure

Posted October 16, 2009 at 10:42am

A North Carolina county court has begun a foreclosure on coastal property owned by Rep. Alan Mollohan (D-W.Va.) due to “default in the payment of the indebtedness— on the property.

Mollohan had been criticized for purchasing several lots on Bald Head Island, a North Carolina beach resort, with Laura Kuhns, a former Mollohan staffer who now runs a West Virginia nonprofit that has received millions of dollars in earmarks from the Congressman.

On his most recent financial disclosure form, Mollohan listed his 50 percent share of the Bald Head Island lot as being worth $250,000 to $500,000, with a mortgage worth $100,000 to $250,000. Mollohan reports a minimum net worth of about $4.1 million.

The foreclosure notice printed by the State Port Pilot newspaper announces that the property will be sold at auction on Wednesday.

Mollohan could not be reached for comment.