Real Estate Misdeeds
According to a public document called a Rescission of Substitute Trustee's Sale and Cancellation of Substitute Trustee's Deed, Kathy Nealy, an alleged co-conspirator of John Wiley Price's, apparently bought or got her condo unit at The Terrace back into her ownership after it was sold to PHH Mortgage on August 9, 2013.
The mortgage default was rescinded on December 13, 2013, signed by Nealy on January 9, 2014, and notarized by Price on January 28, 2014.
Yet in DCAD, the ownership of unit 216 at The Terrace, 2323 N. Houston St., is still listed as the Federal National Mortgage Association. Huh.
Cheryl Jordan at the Dallas County Appraisal District says DCAD picks up whatever is filed at the Dallas County Clerk's office. "We look at warranty deeds filed," she says. "We can't look at every court document filed, unless someone brings it to our attention."
Well, now it's now been brought to their attention.
Nealy's financial situation has been under scrutiny since last Friday, when the feds arrested her, Price, Daphne Fain and Christian Lloyd Campbell (a "consultant" and former Nealy employee). The federal indictment charges the defendants with an alleged bribery scheme in which Nealy and Campbell funneled money to Price in exchange for favorable votes for their clients, all of whom conducted business with the county.
Price is also accused of handing out insider information on Nealy's client's competitors to win county bids. It was a "you pay to play" with the county. According to the indictment, Nealy funneled more than $950,000 in "corrupt payments and benefits" to Price.
Nealy bought her Terrace unit on December 7, 2006. The condos, developed by Hillwood, offer one-, two- and three-bedroom units with great storage space, laundries and large balconies with views of downtown Dallas.
A version of this article originally appeared on Candy's Dirt. It has been reprinted with permission.