The Associated Press: Philadelphia housing director facing foreclosure: "A bank has foreclosed on a $615,000 condominium owned by the head of the Philadelphia Housing Authority, who earned $350,000 last year leading the nation's fourth-largest public-housing agency. Carl R. Greene, PHA's executive director, bought the three-bedroom, 2,100-square-foot condo in the upscale Naval Square development in 2007. He put down $215,000 in cash and took out a $400,000 mortgage, city records show. Greene, 53, stopped making payments on or around April 1, and three months later owed more than $7,500 in missed payments and late fees, according to the bank's July 27 lawsuit."
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Good grief. It seems that he has over $386,000 left on the mortgage. Now, in Chicago a public official could take care of that fairly quickly...Thanks to Tom Skiba for the link.
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