Donald D. Bowers and Deborah Bowers - Page 7

                                                - 7 -                                                  
            29, 1989.3  Mr. Bowers and Florence each were represented by                               
            counsel in this modification action.                                                       
            The Mandarin Residence                                                                     
                  On January 31, 1989, Mr. Bowers purchased a newly                                    
            constructed four-bedroom house located at 12476 Blueberry Woods                            
            Circle West, Jacksonville, Florida (the Mandarin house or                                  
            property), for the price of $144,713.  Title to the Mandarin                               
            property was placed in Mr. Bowers' name individually.  The sales                           
            contract, which Mr. Bowers signed on December 27, 1988, included                           
            the following extra features:  an upgraded lot ($2,000), brick                             
            veneer ($6,300), additional phone, cable, and fan prewires ($20,                           
            $25, and $60, respectively), three marble vanities ($600), pull-                           
            down stairs ($175), shower door ($225), mantle ($150), and matrix                          
            pad ($808).  The builder estimated that Mr. Bowers' monthly                                
            payments, including amounts for the mortgage, insurance, and                               
            taxes, would be $1,117.                                                                    
                  In order to buy the Mandarin property, Mr. Bowers obtained a                         
            mortgage in the amount of $130,000.  On the mortgage application,                          
            Mr. Bowers stated that he did not intend to occupy the property                            
            as a primary residence.  On the mortgage application, he included                          
            the Burlington property among his assets and indicated that the                            

            3 Mr. Bowers later sued Florence on the purported underlying                               
            debt, but the court ruled against him.                                                     

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011