Wells Fargo's Lawsuit First Step in Foreclosure Process
The bank needs to sell the Fulton Science Academy property where a new school was to be built so it can recover the investment of bondholders.
A lawsuit against Fulton Science Academy is a step in the foreclosure process on school property that will allow Wells Fargo to recover the investment of bondholders, according to bank officials and the school's attorney. "Wells Fargo acts as a trustee for publicly held bonds and has a responsibility to recover the investment of the bondholders. Wells Fargo is following the appropriate legal procedures to foreclose on this property," said Jamie Dexter in a statement issued by Wells Fargo. The property is on Fanfare Way in Alpharetta, which is next to the west side of GA 400. Only the middle school organization was the target of the lawsuit, Dexter said. Fulton Sunshine Academy and Fulton Science Academy High School were named in the suit …
