Bank of Ann Arbor Reported $1,412,380 Sheriff's Sale Purchase; Follow-Up RESPA Request Seeks Reconciliation Record
After Bank of Ann Arbor completed a non-judicial foreclosure on three properties owned by Drs. Bradley Foerster and Myria Petrou, the Bank purchased the properties at an August 3, 2017 sheriff's sale in connection with Loan No. 500987:
- 1745 Brian Court, Ann Arbor, Michigan
- 620 Geddes Ridge Avenue, Ann Arbor, Michigan
- 630 Geddes Ridge Avenue, Ann Arbor, Michigan
Since the sheriff's sale, Drs. Foerster and Petrou have repeatedly requested that Bank of Ann Arbor identify the records showing how the sheriff's sale proceeds were applied and reconciled within the Bank's accounting records.
In response to a recent RESPA request, Bank of Ann Arbor produced March 2025 correspondence to the FDIC stating that the Bank applied an ORE valuation of $1,151,261 to the outstanding loan balance following the sheriff's sale.
According to records provided by Bank of Ann Arbor:
- August 3, 2017 — Bank of Ann Arbor states it purchased the three properties at sheriff's sale for $1,412,380.
- February 26, 2018 — Loan transaction history reflects a principal payment of $1,151,261.00.
- March 2, 2018 — Loan transaction history reflects a charge-off principal entry of $294,675.65.
On June 2, 2026, Drs. Foerster and Petrou submitted a follow-up Request for Information pursuant to the Real Estate Settlement Procedures Act (RESPA). The request seeks identification of the specific accounting record, reconciliation worksheet, general ledger entry, workpaper, prior response, or other existing document showing how the Bank reconciled its reported $1,412,380 sheriff's sale purchase amount with the subsequent principal payment and charge-off entries reflected in the loan transaction history.
The records below include the June 2, 2026 correspondence, prior Bank responses, the March 2025 FDIC correspondence recently produced by the Bank, the Bank's May 27, 2026 response, and the loan transaction history previously provided by the Bank.
No record showing how the Bank reconciled the $1,412,380 sheriff's sale purchase amount with the subsequent principal payment and charge-off entries has been identified.
“The public auction took place on August 3, 2017, at which point the Bank purchased the three (3) properties for $1,412,380...”
— Bank of Ann Arbor, March 6, 2025
The full correspondence package and supporting records are available below:
Complete Correspondence Package: Bank of Ann Arbor Sheriff's Sale Accounting Correspondence and June 2, 2026 RESPA Follow-Up Request (PDF)
June 2, 2026 Follow-Up RESPA Request
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May 27, 2026 Bank Response
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March 6, 2025 FDIC Correspondence Produced by Bank of Ann Arbor
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Loan Transaction History
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Related Material:
Recorded Affidavits Address 1745 Brian Court Certificate of Redemption
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- Bank of Ann Arbor Reported $1,412,380 Sheriff's Sale Purchase; Follow-Up RESPA Request Seeks Reconciliation Record
Brad Foerster, MD PhD
Brad Foerster is a FOIA advocate documenting requests, transparency disputes, and accountability investigations involving public agencies, universities, police oversight, and Russia-Gate related inquiries. His work compiles original documents, timelines, and analysis of public records and institutional responses. Brad is also a board-certified radiologist, author of Town & Gown, and has published over 40 peer-reviewed articles. Brad lives in Potomac, Maryland with his family and is active in the Montgomery County Medical Society and the Takoma Park U.S. & World History Book Club.