GREENWOOD — A foreclosure auction at a mill specializing in wood products has been postponed until next week.
The auction was scheduled to be held on Monday at the mill, which is located at 256 Main St. Bank of America set the auction after charging that SB Acquisitions LLC, a Maine company with a mailing address of Exeter Advisors in Boston, violated the conditions of a mortgage it entered into with the bank in November 2007.
David S. Sherman Jr., an attorney who is collecting surety deposits from prospective bidders, sent notice on Monday that the auction will be adjourned to April 7. The time and location of the sale will remain the same.
The notice was sent to SB Acquisitions as well as seven other individuals or entities. They include Portland attorney George J. Marcus, the Finance Authority of Maine and the Androscoggin Valley Council of Governments. Notice was also sent to Sebago Technics Inc. of Westbrook and Delta Roofing of Maine, a Portland company. The two companies have claimed a total of $128,219.12 against the property for services performed.
The mill employs approximately 40 to 50 people.