Rookie Broward County Commissioner Chip LaMarca, a Republican who ran on a platform that included fiscal responsibility, is facing foreclosure on his homestead!
According to records obtained by Gossip Extra, the 40-year-old owner of a construction company apparently stopped making payments on the second mortgage on the Lighthouse Point home.
And now, Wells Fargo is after him to make good on the $385,000-loan – or watch the 8,700-square-foot home he’s owned since 1999 sold on the courthouse steps.
“I’ve been on the phone with the bank and I’m hoping they’ll work with me,” LaMarca tells me, adding that he pays religiously for his $240,000-first mortgage and property taxes. The house is currently assessed at $319,000.
LaMarca explained his construction business hasn’t been doing that great since the real estate bubble exploded.
“We took out a second mortgage on the house to put money in the construction business,” he said. “In 2006, the business was headed in the right direction but things became very difficult.”
Does the foreclosure make him look silly when trying to set county policy?
“People who seek office are people,” he said. “Nobody’s perfect. At least, I’m not walking away like many people do. I will continue making responsible decision at the county level.”