Lawmakers default on loans too

After stars like Evander Holyfield and Jose Canseco defaulted on their mortgages, who is immune: lawmakers? Think again. The Charlotte Observer has a story out today reporting that Julia Boseman, a North Carolina State Senator has fallen behind on her mortgage.

“A North Carolina state senator and her former domestic partner have defaulted on a $1.3 million mortgage on a New Hanover County home.

Sen. Julia Boseman and Melissa Jarrell have failed to pay the $7,156 monthly payments since last August, according to evidence at a court hearing last week. The home is now scheduled to be auctioned June 25 at the county courthouse, the Star-News of Wilmington reported.

County tax records show $4,700 in taxes are also owed on the property. Jarrell now lives in the house, where they raised a son before separating.”
-Charlotte Observer, 10 Jun 2008

Divorce, sickness and job loss were the three usual suspects in past mortgage crises. Boseman joins U.S. Representative Laura Richardson (D-CA) as one of the first lawmakers to succumb to this disaster.

There’s good detail on these stories from the blog “Baltimore Housing Bubble”