{Frankfort, Kentucky}...The Frankfort home of former state Agriculture Commissioner Richie Farmer is scheduled to be sold at public auction September 24th. Farmer faces a foreclosure lawsuit on a mortgage loan of $317,929.22 plus interest. First National Bank of Manchester filed a foreclosure suit in May against Farmer and his then-wife, Rebecca Farmer. She filed for divorce in April 2011, and it was finalized in July. Richie Farmer agreed in the divorce settlement to be responsible for making the mortgage payments. The foreclosure suit says the Farmers borrowed $321,561 from the bank in October 2004. In April 2010, the Farmers signed a promissory note with the bank for $307,192 at 5.75 percent interest. The loan was to be repaid in monthly payments through April 2017, followed by a balloon payment, a large, lump-sum payment scheduled at the end of a series of smaller periodic payments. No mortgage payments have been made on the Farmer property since at least January. Since leaving office in 2011, Farmer has gotten divorced, been the subject of a scathing audit accusing him of misusing state workers and resources for personal gain and has yet to find employment.
