Detroit councilman walks away from his mortgage - Sacramento Bee: "The former residence of Detroit City Councilman Kwame Kenyatta is seen on April 15, 2009. Kenyatta, an advocate of neighborhoods, and his wife packed their belongings, locked the doors, mailed in the keys and simply walked away _ leaving another vacant house among the thousands standing empty"
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His explanation: "We're already underwater when it comes to what we're paying on the house versus what the house is worth," Kenyatta said.
But he doesn't seem to have lost his job, nor does he seem unable to repay the money he borrowed to buy this house. He just thinks it is a bad deal now. And all his expressed concerns about neighborhoods and blight seem to have vanished suddenly. Well, commitments like that can be expensive.
I guess he still might be a step up from the previous Mayor, who was also named Kwame (Kilpatrick). He resigned and was convicted of a crime.
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