Economy

Rock performer Rick Derringer facing foreclosure on Florida homes

MANATEE — Legendary singer, guitarist and producer Rick Derringer and his wife are facing two foreclosure suits on their Ellenton home, court records show.

But Derringer says he plans to resolve the matter by obtaining a reverse mortgage.

“It’s a great location for us and we love it and we’re going to save it,” Derringer said Tuesday of the house in the Raintree Inlet subdivision.

Branch Banking & Trust Co. sued Derringer and his wife Brenda J. Hall in Manatee County Circuit Court on Sept. 20, contending they defaulted on a $46,000 credit line that Hall obtained in 2004. The loan was secured by the Ellenton property, which the couple purchased in 2003 and have declared as their homestead, property and tax records show.

The bank’s suit contends it has not received any payments since March and is owed $45,119 in principal, interest and late fees. Deirdre Aretini, BB&T’s attorney in the case, said she could not comment because it is a pending legal matter.

Read the complete story at bradenton.com

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