"I saw in the legal section of the DDT the other day that our Mayor & Husband (or ex) have defaulted on house payments! Maybe she needs a raise!"
Could be, but I doubt it. Mayor Hudson (and/ or Ex) probably suffer from the same plight as hundreds of Greenville residents... a dismal real estate market in which you literally have to "give away" property in order to move.
The recent auction of "Somoa" is a telling tale. After the owners defaulted on the mortgage, it was put up for auction by the lender. Opening bid was a mere $50,000 and the final bid brought $183,000. (Note: This is a home that once appraised for over $600,000.)
So, do we have a very happy new owner of this icon of Greenville real estate?
Well, no. It seems that the high bidder could not secure financing... even at 1/3 the appraised value. So, if you are among those property owners who still believe that they will profit, or even recoup their investment in Greenville real estate, I wish you well!
Even the pair of whales heading up river could see the end in sight... and fled back to open sea.