Head of Philadelphia Housing Agency Winds Up in Foreclosure

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Image by zoonabar via Flickr

Carl Greene, the executive director of the Philadelphia Housing Agency, has found himself like millions of other cash-strapped Americans: he is facing foreclosure.

Greene’s salary last year was $306,000, plus a $44,000 bonus. But he is still several months behind on his payments to Wells Fargo on his $615,000 condo.

The irony is that the Philadelphia Housing Agency is supposed to help people become homeowners, successful ones at that. But the head of this organization can’t even hang on to his own residence.

“My lack of attention to my personal financial dealings is a failure on my part,” Green said in a press release.

Hmmm. Somehow I doubt that mere inattention to his finances are behind Greene’s money woes. How do you not pay attention to the fact that your mortgage has to be paid every month? That’s not particularly complex.

Just goes to show you that anyone can wind up in a financial mess.

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