Saturday, March 03, 2012

Split Rock Resort hotel and water park hit by Sheriff Sale

Portion of a vacation resort in northeastern Pennsylvania's Poconos is heading for sheriff's sale soon.

The Split Rock Resort hotel and water park will continue being open in spite of a planned April 13 foreclosure sale on a $21 million loan.

The Carbon County Sheriff's Office planned the business foreclosure sale on the loan owed to TD Bank, which is on of the 10 biggest bank in the U.S. today.

One chunk of property scheduled for auction is a forty acre lot, which includes a $19 million water park playground that opened up in late 2008. Another parcel due for a sheriff sale is around 260 acres and features a villa and some recreation facilities connected to the hotel.

These parcels, totaling near or about 300 acres, are owned or operated by Vacation Charters Ltd. A resort representative stated that the owners are working hard to come up with the capital required to halt the foreclosure sale.

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