Lender forecloses on ex-New Orleans Mayor Ray Nagin's Texas home
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.
More at http://www.shreveporttimes.com/article/20140424/NEWS01/140424005/?nclick_check=1 .
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