New York City’s Public Advocate Jumaane Williams lost a two-family home he owned in Brooklyn after refusing to pay his mortgage for the last 15 years.
The New York Post reports that Williams – who is first in line to succeed the city’s mayor – purchased the home with this mother in 2005 for $370,500. He took full ownership of the property in 2006, and later that year he took out a $389,600 mortgage on the property to finance a vegan sandwich shop in Brooklyn. However, that business failed in 2008, and in 2010 he stopped making the $1,344 monthly payments on the home, which he used for rental income.
Williams, who generated nearly $1 million in mortgage debt, unsuccessfully sought to retain the property in court. The property is now owned by Bank of America after an online auction of the home failed to secure a buyer.
Williams earns $184,800 annually as Public Advocate and resides in a townhouse at the Fort Hamilton US Army Garrison in the Bay Ridge section of Brooklyn.
Photo courtesy of Jumaane Williams’ Instagram page
