More Details on PHA Chief's Mortgage Woes

As reported in today's Daily News, Philadelphia Housing Authority Executive Director Carl R. Greene is facing foreclosure on his tony Naval Square Condo. After going over court records, here are a few more details about his situation:

Greene, who paid $615,035 for the 2,100 square-foot condo in 2007, took out a $400,000 mortgage at the time, according to financial records.

Based on the civil cuit filed by Wells Fargo Bank, Greene appears to have stopped paying his mortgage in April, 2010. In June, he was notfied that he was past due by $7,550.71. Then in July, the bank sued Greene, saying he owed $386,685, which is the principal balance plus interest, late charges and other fees.

PHA Spokesman Kirk Dorn yesterday told the Daily News that Greene planned to handle the situation privately.