Suit alleges borrowers defaulted on loan

By Lhalie Castillo | Nov 9, 2018

BELLEVILLE — Providence Bank is suing borrowers for allegedly failing to make payments. 

Providence Bank filed a complaint on Oct. 12 in the St. Clair County Circuit Court against William M. Monroe, Chong S. Monroe, unknown owners, non-record claimants, tenants, unknown heirs, assignees, successors and legatees, alleging they defaulted on their obligations pursuant to the terms of the note.

According to the complaint, the plaintiff alleges that on May 24, 2016, the defendants executed a promissory note in favor of Providence Bank for $600,000. The defendants agreed to make monthly payments towards the balance. After all proper credits for payments, the principal amount of $560,587.85 remains due and owing, the suit states. 

The plaintiff alleges the defendants failed to tender payments since July 5.

The plaintiffs request a trial by jury and seek a judgment for foreclosure of the mortgage or damages in the sum of $560,587.85, plus accruing interest, attorney's fees, costs and all further relief deemed just and proper. He is represented by Trenton K. Bond and Grant J. Mabie of Hein Schneider & Bond PC in St, Louis.

St. Clair County Circuit Court case number 18-L-669

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Hein Schneider & Bond PC St. Clair County Circuit Court

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