Looks like Judges are becoming “deadbeats” too…

This is no different than every other manufactured default / induced foreclosure…

Cuyahoga County Juvenile Judge Peter Sikora faces foreclosure on his lakefront home

CLEVELAND, Ohio — A Cuyahoga County Juvenile Court judge faces foreclosure on his eight-bedroom, lakefront Cleveland home after falling a year behind on a nearly $1 million mortgage and property taxes.

Judge Peter Sikora said he hopes a mediation session scheduled for next month will keep him in his Edgewater Drive home, which the Cuyahoga County Auditor’s Office has appraised at $844,000.

Sikora, who makes $121,350 a year as a judge, said in a telephone interview Thursday that he has the money to make his mortgage payments. What got him in trouble was following the advice of officials at JP Morgan Chase & Co., he said.

With property values in decline over the past year in Cleveland, and mortgage rates the lowest in decades, Sikora sought to refinance. But the bank, he said, declined his request.

“The bank advised me that the only way they would consider a loan modification would be if I fell behind on my payments,” said Sikora, 59, a judge since 1989. “I took their advice and put the money aside.”

Sikora said he was surprised when, in June, during the middle of negotiations, JP Morgan Chase filed the foreclosure lawsuit against him seeking $999,000, including $6,400 in unpaid property taxes.

“It’s unfortunate that it’s gotten to this situation,” Sikora said. “I’ve been talking with them for more than a year, but the bank hasn’t been responsive.”

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