The head of the Philadelphia Housing Authority — the nation's fourth-largest such agency — took home more than a quarter of a million dollars last year but still had trouble paying his mortgage.
Recent news reports say Carl Greene, the agency's executive director, was facing foreclosure on his $615,000 condominium after he had fallen several months behind on payments. Wells Fargo & Co. is the servicer of record.
Last month Greene announced he was taking several weeks of leave to get his financial situation in order and that he had paid his mortgage through October.
"My lack of attention to my personal financial dealings is a failure on my part," Greene said in a press release. "I want to assure the citizens of Philadelphia as well as the employees and residents of PHA that the problems I have created for myself personally have not affected my stewardship of the housing authority. We continue to be a dynamic organization and a leader in the development and management of affordable housing."
The press release added that the stress of the job "left him mentally and physically exhausted."
The PHA houses about 81,000 people in the city of Philadelphia with a budget of nearly $350 million.
