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CEO of major Charlotte chain snags $6.8M home, one of Mecklenburg County's priciest in May

CEO of major Charlotte chain snags $6.8M home, one of Mecklenburg County's priciest in May

Yahoo24-06-2025
The CEO of a major Charlotte restaurant chain purchased one of Mecklenburg County's most expensive homes last month.
ALSO READ: Bojangles first ever restaurant reopens, commemorates its Charlotte history
Bojangles CEO Jose Armario paid $6.85 million for an 8,800-square-foot home in south Charlotte's Carmel Estates West neighborhood, according to county real estate records. The white brick home was built in 2021. It has four bedrooms, with four full and three half bathrooms.
The home's 0.84-acre lot backs up to Carmel Country Club's golf course. Outdoor features include a pool, covered patio with a grilling area and dining and lounge spaces, and a detached cabana.
Four homes in Charlotte sold for more than $6 million last month.
The county's most expensive home sale overall in May clocked in at just shy of $7 million. That 0.64-acre property in Eastover sold for $6.97 million. Built in 1992, it houses more than 7,300 square feet, six bedrooms and six full and two half bathrooms.
Read more and see photos of the top-priced home sales in Mecklenburg County last month in CBJ's monthly roundup here.
VIDEO: Bojangles gifts healthcare workers sweet treat
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Brooklyn homeowner losing his house over 1 unpaid water bill that he didn't know about. Was his home 'stolen' from him?
Brooklyn homeowner losing his house over 1 unpaid water bill that he didn't know about. Was his home 'stolen' from him?

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time4 hours ago

  • Yahoo

Brooklyn homeowner losing his house over 1 unpaid water bill that he didn't know about. Was his home 'stolen' from him?

Filmore Brown worked seven days a week for more than two decades to buy and keep his home in Brooklyn. By 2019, he had finally paid off the mortgage, believing he had secured his future. That was all taken away when strangers showed up at his door in the middle of the night with keys. Those strangers, he learned, had legal permission to enter. Brown is the top-floor occupant of a three-unit home that he bought back in 1996 and paid off the mortgage in 2019. He says he didn't know he had an unpaid water bill for $5,000. That $5,000 may have cost him his house forever — a home worth $800,000. "I don't want anybody to go through what I'm going through," Brown told local news outlet ABC7. "I cannot eat, I cannot drink, and I cannot sleep." Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it How $5,000 led to Brown's home being sold out from under him In New York City, people who have larger unpaid tax or water bills risk the city selling their debt to a trust. From that point on, the investors of the trust will attempt to collect the money with interest. If timely payments aren't made, a lien can be put on the house and the investors can sell the home at auction. That's what happened to Brown. His old water bill was sold into the trust system, but once that happened, it no longer showed up on his current bills. According to his attorney, Yolande Nicholson, Brown continued paying his new bills on time — thousands of dollars in property taxes and water bills since 2020 — but those payments never touched the older debt. "I didn't know, I just would've paid it," Brown said. 'There needs to be some type of notification that there's another bill out there that needs to be paid,' Nicholson told ABC7. 'There needs to be more done to make sure that hardworking older people who paid off their mortgage and have fixed incomes don't get into that kind of rut.' Brown's other lawyer, Alice Nicholson, added: 'He said he didn't know anything about this, and I believe him.' Systemic failure in New York City? New York City's Department of Finance insists it sent numerous notices before foreclosure proceedings began. Court documents show papers were served by the investors at Brown's address in November 2020 — at the height of the pandemic. But Brown, who lives on the top floor of a three-unit home, says he never saw them. Apparently, an individual from the lower-level units received it and never gave it to Brown. 'There are more than 6,800 liens that have been put into the trust just for unpaid water bills,' ABC7's investigation found — and the majority are in communities of color. The city has since pledged reforms, saying it has extended timelines, expanded outreach, and worked with nonprofits on door-to-door visits and calls to prevent cases like Brown's. 'Our goal is never to see a homeowner lose their property,' a Department of Finance spokesperson said in a statement. Still, attorneys argue the system disproportionately affects older and lower-income homeowners — often people who've paid off their mortgages and thought they were safe. Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. Not just New York The problem isn't unique to Brooklyn. Cities around the country use lien sales to collect unpaid taxes and fees, and cases like Brown's have surfaced elsewhere. In Baltimore, for example, a church was nearly lost to foreclosure over a $3,000 water bill. In Washington, D.C., local investigations have shown how small unpaid balances can snowball into property losses when investors step in. Consumer advocates warn that these systems, intended to help cities recover debts, often end up transferring homes from longtime residents to private investors. The takeaway for homeowners Brown's case shows how easy it can be for a small oversight or clerical error to spiral into a life-changing loss. Even when payments are made, once a debt is sold into a lien trust, it can slip through the cracks. Experts advise: Regularly checking property tax and utility accounts online, not just paper bills. Signing up for city notifications when possible. Seeking legal help immediately if you receive lien notices or foreclosure papers. As for Brown, while his local community and city councilor have rallied around him, the road to a resolution could be long. "It was stolen from me," Brown said. "It was my only dream." What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

After 'Excessive Snooping,' Seller Says Buyer Opened Drawers, Ransacked House, Then Tried To Slash $25K Off —'Why Look In My Dressers?'
After 'Excessive Snooping,' Seller Says Buyer Opened Drawers, Ransacked House, Then Tried To Slash $25K Off —'Why Look In My Dressers?'

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time5 hours ago

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After 'Excessive Snooping,' Seller Says Buyer Opened Drawers, Ransacked House, Then Tried To Slash $25K Off —'Why Look In My Dressers?'

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Selling a home is stressful enough. Between keeping the place spotless, packing boxes, and coordinating showings, the last thing any seller wants is to feel like their privacy's been ransacked. Yet, that's exactly what one homeowner described in a post on the Real Estate subreddit — and fellow homeowners had plenty to say about it. The seller said an agent — not their own — scheduled a showing for their 1,100-square-foot home. They were 90% packed, with boxes stacked in a spare room, clothes still in drawers, and only essential kitchen and office items left accessible. As instructed, the homeowners left before the appointment, parking out of sight at a neighbor's property. Don't Miss: Would you have invested in eBay or Uber early? The same backers are betting on . Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — The agent arrived 15 minutes early, "pulled out a scanner of sorts," and darted from room to room. When the buyer arrived, the pair spent nearly an hour inside — including 20 minutes in the bedroom and nearly 30 in the office/studio. When the owners returned, they found dresser and bathroom drawers open, boxes moved and even opened, food in the fridge disturbed, and signs someone had been on their bed. "Why look in my dressers? Why touch my damn food?" the post read. The reaction online was swift. One user suggested, "Ask your agent to help you make a complaint to that agent's broker. This is very unusual behavior." Another offered a more colorful theory: "Sounds to me like the real estate agent banged that chick on your bed and then made himself a snack afterwards." Others emphasized security, with one top comment advising, "Change the lockbox code, or have your agent present for every showing until you're comfortable." Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. The homeowner did call their agent, who was "furious and quite embarrassed." A complaint was filed, though the sheriff's office reportedly "laughed" and said they couldn't help. The seller noted they didn't have the showing agent's contact information — "they left nothing but the evidence of their excessive snooping." Then, unexpectedly, the sellers received and accepted a cash offer the next morning — only to have the "adventure" continue. In a follow-up, the homeowner claimed the buyer later showed up unannounced, nitpicked the home's condition, broke a porch handrail, and tried to renegotiate $25,000 off the price along with demands for major replacements — all for systems less than three years old. The sellers countered slightly, but the buyer walked away on the last possible day, keeping the house off the market for 18 then, inventory in the small town had jumped from zero comparable listings to ten, and an open house that once had 24 scheduled parties drew just one. "Lessons learned," the seller wrote, adding they now have video surveillance in every room. While this saga is extreme, seasoned agents say sellers can protect themselves by clarifying showing rules in advance, securing valuables, and, if needed, insisting their own agent be present during tours. It's not legal advice, but it's practical: a home should feel safe during the sales process, not like it's been through a break-in with a lockbox key. For this seller, the ordeal left them a little wiser — and with cameras rolling for the next chapter of their home-selling adventure. Read Next: , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Image: Shutterstock This article After 'Excessive Snooping,' Seller Says Buyer Opened Drawers, Ransacked House, Then Tried To Slash $25K Off —'Why Look In My Dressers?' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Power couple Jay-Z, Beyoncé have $57M mortgage — are they ‘broke billionaires' or is something else going on?
Power couple Jay-Z, Beyoncé have $57M mortgage — are they ‘broke billionaires' or is something else going on?

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time6 hours ago

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Power couple Jay-Z, Beyoncé have $57M mortgage — are they ‘broke billionaires' or is something else going on?

Why bother with a mortgage when you have billions of dollars? Why even fill out a loan application for that matter when you can simply pay cash for any home on the market? Well, that's probably why Jay-Z and Beyoncé's decision to take on not one but two mortgages on their $88 million Bel Air mansion has raised some eyebrows. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership Property records examined by The Daily Mail suggest that the couple, who are worth roughly $3.3 billion together, secured a $57.75 million mortgage on the property this April. That's in addition to the previous $52.8 million mortgage secured four years ago. Are the music moguls struggling financially and broke billionaires, as some online commentators have speculated, or is this a savvy real estate move? Here's a closer look. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it I've got 99 problems, but a mortgage ain't one An outstanding liability of roughly $110.55 million on a single property sounds mind-boggling until you put it into context. Not only is the figure just 3.4% of the couple's combined wealth, it's also at a fairly attractive interest rate. According to The Daily Mail, the new mortgage has been secured from Morgan Stanley's Private Bank Group at a 30-year term with an interest rate fixed at 5% for the next ten years. The previous mortgage, meanwhile, was secured from Goldman Sachs at 3.15%. Effectively, the average rate on both these mortgages is significantly below the August 2025 30-year mortgage rate of 6.6%, according to the Federal Reserve. Even if the interest rates were closer to the average, these loans would have still unlocked some key financial benefits for the billionaire couple. Buy, borrow, die By borrowing money against an asset they can easily afford, Jay-Z and Beyoncé seem to be pulling from the 'Buy, Borrow, Die' playbook. The strategy involves acquiring appreciating assets, such as real estate, stocks or artwork. Then they borrow against those assets to create tax-free cash flow, subsequently passing the assets to their heirs (Blue Ivy, Rumi and Sir) to erase capital gains over the long term. Beyond the tax advantages, this method also helps wealthy families minimize opportunity costs. By borrowing against their Bel Air mansion, Jay-Z and Beyoncé can invest roughly $110 million in their various business ventures or even the S&P 500, which has delivered a compounded annual growth rate of 13.66% over the past ten years. On their passing, the property portfolio's tax basis would reset, potentially saving the three children millions of dollars in capital gains taxes. Jay-Z and Beyoncé are not the only ones using this clever strategy. Back in 2012, Meta's CEO Mark Zuckerberg refinanced his Palo Alto home at a 30-year fixed term with an adjustable rate of 1.05% despite being the 40th richest person in the world at the time. The good news is that you don't have to be a billionaire to use leverage as a financial tool. Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. Can't knock the hustle Anyone, regardless of their net worth, can use debt in strategic ways to start building wealth. The most important part of this strategy is to borrow only for appreciating assets. So, a mortgage to buy property or a business loan to start a new venture should help you build equity, while an expensive personal loan or credit card debt to finance vacations could destroy wealth over time. While borrowing money, shop around for the best rate and try to negotiate before signing up. Every basis point you can cut from the loan agreement can magnify your savings over the long term. You may also want a hard cap on how much you can borrow, regardless of how low the interest rate is or how attractive the underlying asset seems. Zuckerberg, Jay-Z and Beyoncé have mortgages that are a small fraction of their overall net worth. Similarly, financial advisors suggest keeping your debt-to-income ratio below 41% to avoid risk. Finally, consult a financial advisor to understand all the tax benefits your loan could offer. For example, couples filing together can deduct mortgage interest payments from their taxable income for payments on the first $750,000 of mortgage debt. By strategically planning and applying debt in this way, you could supercharge your wealth creation journey. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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