North Miami Mayor Andre Pierre's House Is In Foreclosure
Either way, Pierre's once again got some 'splainin to do this morning as Bank of America has moved in to foreclose on the $230,000 home he owns on NE 121st Street.
Pierre claims the bank foreclosed too soon and that he was still negotiating a loan modification to keep the residence.
BoA filed the foreclosure in Miami-Dade Circuit Court on Feb. 23, court records show. It's not difficult to see how Pierre, an attorney in addition to being mayor of Dade's fifth largest town, ended up behind on his mortgage.
He bought the 11,945-square foot property in the Sans Souci Estates development in 2003, the booming days of the housing bubble, for a tidy $353,000. That's since ballooned into a $432,538 mortgage as of last July, the Business Journal reports.
The house, meanwhile, is worth just $230,000. With Pierre that underwater on the property, it's no surprise foreclosure proceedings are moving along.
Pierre's been in deep trouble ever since last March, when his nephew and campaign manager, Ricardo Brutus, was arrested for trying to solicit bribes from businessmen related to a push to privatize the city's trash pickup services.
Despite the mayor's ties to Brutus, no indictment has come his way over the shakedown. In the meantime, he rolled around in a 2011 Porsche until confronted about the car and giving a confused answer about who gave it to him and helped steer more than $160,000 in city cash to two businessmen he represented as an attorney.
Just for good measure, in January Pierre had to apologize after falsely accusing City Councilman Michael Blynn's daughter of being a "prostitute" during a council meeting.
Follow Miami New Times on Facebook and Twitter @MiamiNewTimes.