A home at 140 Bergen Drive in Fayetteville is scheduled to go to the highest cash bidder on the first Tuesday in September 2026, after the mortgage holder declared the loan in default and moved to foreclose.
The property — Lot 11 in the Haddonstone Subdivision, located in Land Lots 35 and 36 of the 5th District of Fayette County — was originally secured by a deed signed by Hilton Cheevers and Tandra Cheevers on July 27, 2020, according to the legal notice published August 5, 2026 in the Fayette County legal record. The original principal on the note was $351,876.
The security deed passed through Mortgage Electronic Registration Systems, Inc. before landing with New American Funding, LLC — formerly known as Broker Solutions, Inc., doing business as New American Funding — which now holds the deed and is conducting the sale, according to fayette-news.net.
The sale will take place at public outcry before the Fayette County courthouse door, or at a lawfully designated alternative location, during legal hours of sale. The proceeds will go toward paying the total debt, including attorney's fees, as authorized under the security deed and Georgia law.
Anyone interested in bidding should be aware that the property sells 'as-is,' with no warranties. It remains subject to any outstanding ad valorem taxes, liens, encumbrances, zoning ordinances, and other matters of record. Prospective bidders are responsible for their own due diligence, according to the notice.
The sale is also conditioned on confirmation that it is not prohibited under the U.S. Bankruptcy Code and on a final audit of the loan's status with New American Funding, LLC.
There is an added federal compliance layer for buyers this time around. On March 1, 2026, new data collection and reporting requirements from the U.S. Financial Crimes Enforcement Network — known as the FinCEN Anti-Money Laundering Rule — went into effect. The rule applies to certain residential real estate transactions where the buyer is a legal entity or trust and the purchase involves cash, private financing, or financing from a lender not subject to federal anti-money laundering requirements. If the rule applies, buyers and sellers must provide additional documentation about themselves, their entities, and the source of funds, according to fayette-news.net.
The notice cautions, however, that the rule is currently the subject of ongoing litigation in several jurisdictions, and advises all parties to seek independent legal counsel about whether their transaction is reportable.
Anyone wishing to discuss loan terms before the sale can contact New American Funding, LLC at 8201 North FM 620, Suite 120, Austin, TX 78726, phone 800-893-5304. The lender is not legally required to negotiate or modify the loan terms, the notice states.
Why it matters — Anyone considering bidding on the Bergen Drive property — or watching the Fayette County foreclosure market — needs to know the September auction date, the cash-only as-is terms, and the new federal documentation requirements that could affect how the sale is conducted.
⚠ Not yet confirmed
- The FinCEN Anti-Money Laundering Rule is subject to ongoing litigation in several jurisdictions and its applicability to any specific transaction may be uncertain
Reported by fayette-news.net, methowvalleynews.com, goldendalesentinel.com, bernews.com, govinfo.gov, capublicnotice.com, floridapublicnotices.com
Where this comes from
- fayette-news.net
- methowvalleynews.com
- goldendalesentinel.com
- bernews.com
- govinfo.gov
- capublicnotice.com
- floridapublicnotices.com
Written by Papalocal's AI from these outlets' reporting. It can miss or misread things; the outlets are the record.