Foreclosure Was Expected Today On Fire-Destroyed Mans - Spokane, North Idaho News & Weather KHQ.com

Foreclosure Was Expected Today On Fire-Destroyed Mansion

SPOKESMAN.COM - Arson investigators are combing through the debris of a million-dollar riverfront estate that was engulfed by fire Thursday morning as lenders prepared to hold a foreclosure on the home.

Flames were visible to daybreak commuters along Interstate 90. Parts of the 10,000-square-foot brick and wood mansion – assessed at about $1.5 million – continued to smolder at nightfall.

No one was home and no one was injured in the fire, said Ron Sampert, Kootenai County fire chief.

The fire capped months of financial and legal tumult for the homeowners, said Leonard Wallace, who bought the home in 2002 with his wife, Pamela Wallace. Lender Deutsche Bank filed a foreclosure action against the Wallaces last year, and the family has turned to Bankruptcy Court to try to shield their assets at least twice. Their latest filing reflects some anxiety. click here to read the full article

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