The Real Deal Miami

Area officials face foreclosures

February 11, 2009 03:13PM

West Palm Beach Commissioner Molly Douglas avoided foreclosure last month by paying off in cash the $194,000 she still owed on her $217,000 home loan. It isn’t the first time she’s faced foreclosure: she lost her Vero Beach home to bankruptcy in 1993. When her home was seized, she owed more than $90,000 on her home loan. Key West Mayor Morgan McPherson, who is also a real estate agent, has two properties in foreclosure, his primary home in Key West and a rental property in Rockland Key. McPherson and his wife owe $646,500 on their Key West home and $555,814 on their rental property. As mayor, McPherson has prioritized affordable housing. TRD