A lender has foreclosed on convicted former Mayor Ray Nagin’s townhome in the Dallas suburb of Frisco, Texas, according to recently filed public records.
The Collin County “Notice of Substitute Trustee’s Sale” indicates that Nagin and his wife Seletha’s home in the Bella Casa subdivision of Frisco is slated for a foreclosure sale on May 6.
The Nagins bought the townhome in May 2007 and had a deed of trust with Everbank of Jacksonville, Fla., for $157,490. Collin County records show that the the deed of trust was assigned by Whitney Bank to Everbank in February, shortly after Nagin was convicted on 20 of 21 federal corruption counts in New Orleans.
The townhome on Grosseto Street is one of two properties that Nagin and his family lived in rent-free following Hurricane Katrina. The former owner testified at Nagin’s trial that Nagin saved nearly $22,000 in rent by living there for free. The government counted that money as some of the former mayor’s ill-gotten gains and unreported taxable income for two counts of tax evasion.
In 2009, Nagin had a lien placed on the home by the Bella Casa Owners Association for failure to pay condo fees, but paid off the debt after it was exposed in the media.
A legal defense fund has been established for Nagin and explains that he is in dire financial straits and needs donations to support his legal appeals.
He is set to be sentenced June 11.
The still have Mayor Nagin wearing his Scarlet letter and marching him through the town square so I thought I’d share this story as an example to the local black community leaders who think they are so “In” with the cronies around New Orleans. You are in with them, but you’re in on one contingency. That when shyt hits the fan your ass is going to be the one who cleans it up.
I’m not going to say Ray is innocent nor am I going to get into some shadow political battle which is really a racial battle, but I will say this. Until we’re ready to expose the entire system then crucifying one man will never seem like justice. He serves as an example. Like in slave times. You chop off one slave’s foot and you won’t have to worry about the rest of the slaves trying to escape.
That’s the part of me that’s diplomatic and fair. The shady part of me is wondering how the hell a man got all these kick backs and free rides and still don’t own his $150K townhouse outright? When gotta do better than this if we’re going to be corrupt. I understand flying under the radar and living modest, but if I’m going to rish jail time then I’m at least going to make sure my family won’t be out on the streets. Tighten up Ray!
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