Eastleigh Farm Foreclosure Postponed Again

Eastleigh Farm in Framingham was able to avoid a foreclosure auction for the second time in six months.

"The good news is the foreclosure has been postponed again! Part of the reason for the stand-down was due to all of the interest and support that has been shown by so many of our loyal customers and friends," wrote the farm on its website. 

Eastleigh Farm was scheduled to be auctioned off on March 27.

Owner Doug Stephan purchased the 100+ acre property on Edmands Road in Framingham in 2006 for $4 million. Later, he mortgaged the property for another $5.5 million.

The farm and the house at 1084 Grove St. was scheduled for a foreclosure auction last October, but Stephan was able to get a reprieve.

Town of Framingham records have the property assessed for $300,00 as it is zoned for agricultural use.

Brokers say it could fetch more than $2 million at auction if the use is changed, reported the Boston Business Journal.