The foreclosure auction scheduled for today on David Weyrich's remaining home lots at Santa Ysabel Ranch in Templeton has been moved to Jan. 4, according to the lender.
Weyrich, trustee of the ranch, has defaulted on a roughly $23 million loan through Lafayette-based R.E. Loans Inc. that packages the ranch with the Carlton Hotel in Atascadero, which the firm is also foreclosing on.
But instead of auctioning the landmark Atascadero hotel, R.E. Loans consultant Rick Dishnica said they are negotiating a forbearance agreement on the property.
That means the firm will delay taking action on the hotel until a time Weyrich and the lenders agree on.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
The auction's start time has not yet been released, but it's slated to take place outside the San Luis Obispo County Courthouse. The starting sale price will be disclosed on auction day.