Wednesday, September 02, 2009

Rodriguez sued for defaulting on real-estate deal - Big Ten - ESPN

Rodriguez sued for defaulting on real-estate deal - Big Ten - ESPN: "As if this week couldn't get worse for Michigan head coach Rich Rodriguez, there's this.

Annarbor.com reports that Rodriguez is being sued for defaulting on a loan he and four partners used to build a gated community of luxury condominiums near Virginia Tech's Lane Stadium in Blacksburg, Va. According to court records, Nexity Bank wants to collect $3,930,103.59 from Rodriguez and his partners, a sum that includes funds from a promissory note as well interest and late fees totaling approximately $300,000. The amount doesn't include attorney fees or court costs."

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