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Builder loses 285 lots

A sparse crowd, including Cheryl Kelly of Thompson Coburn, gathered Monday outside the Jefferson County Courthouse to listen to trustee Steve Leasck read foreclosure notices on six Jefferson County subdivisions owned by developer American Heritage Homes. Great Southern Bank, the noteholder, bought each of the 285 lots. According to Jefferson County Recorder of Deeds records, American Heritage owed Great Southern Bank more than $21 million as of April 5, 2008, when it filed a fourth modification of its original construction loan agreement.

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