The Real Deal Miami

North Miami Beach mayor settles foreclosure

George Vallejo has lived at residence for 15 years
February 11, 2014 12:45PM

George Vallejo

George Vallejo

The mayor of North Miami Beach no longer faces foreclosure on his house.

George Vallejo has resolved the foreclosure for his residence located in the 2900 block of Northeast 164th Street, the Miami Herald reported. The mayor has lived at the home for 15 years. Vallejo reached a settlement with lender Bank of New York Mellon, and the foreclosure case was dismissed on Feb. 1.

The owner of a property tax appeal company, Vallejo has served as the city’s mayor since 2011. He receives $3,600 annually as mayor, with an expense account of nearly $27,000.

Vallejo cited the economic downturn as the main reason for the foreclosure filing in an e-mail to the Herald. [Miami Herald]Eric Kalis