It's uncertain what will happen to businesses at Keokuk's River City Mall following the foreclosure auction Wednesday, September 14 at the South Lee County Courthouse.

Keokuk's Daily Gate City reports that Bayview Loan Servicing LLC out of Florida is foreclosing on a $980,000 loan made to River City Mall, Inc., and Shannon Zetterlund on behalf of the mall's mortgage owner, National City Bank of Indiana.

“We were not informed,” said Nikki Hafliger, manager of Goody’s told Cindy Lutzi with the Daily Gate. “I didn’t know anything about it until someone in security saw it in the paper and told me.”

Zetterlund told the newspaper, “At this moment, honest to God, I don’t know anything. It’s not like I’m not telling, I don’t know. We were working out some financial stuff and there was a point in time ... I don’t know if I missed something. I don’t freaking know. I’m just frustrated. I’m humiliated that it was even in the paper."

“Nothing is going on except the mall is in financial hard times. I haven’t been paid either. I understand everyone’s frustrated. I might be able to fight it (the foreclosure), I might not. I understand they (mall merchants) are worried,” she said.

Click here to read more from The Daily Gate City.

The foreclosure petition states that $1,110,134 plus $2,974 in late charges, prepayment consideration of $47,396, pus default interest of $31,071, plus escrow advances of $53,087, plus other fund balance of $3,390, plus accrued interest of $12,745 as of January 7 ... and interest is continuing to accrue at 9.50 percent per year from January 17. (Information according to Zetterlund and the Daily Gate City.)

For now, mall businesses await their future although they have been reassured that their leases will be honored.

Do you frequent the River City Mall?  If the mall closes, will you be affected?  Click here to post your comments on our Facebook page ... we would love to use them in our newscast!