Yonkers City Council candidate in foreclosure

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Grace_b_2013A candidate for president of the Yonkers City Council has defaulted on a mortgage.

Deutsche Bank National Trust Company filed a foreclosure action Thursday in the state Supreme Court against Grace Borrani, who will be on Tuesday’s ballot on the Every Vote Counts party line after failing to get the Republican nomination.

According to court papers, Borrani, who owns Borrani Realty, has failed to pay a mortgage for an apartment at 1 Beecher Lane in Peekskill. The assessment roll shows that Borrani owns at least two properties in Peekskill.

Court papers allege that Borrani got a loan in 2005 for $190,000 from New Century Mortage Co. and she was expected to pay $1,238.66 monthly until an interest rate change.

The court papers allege that Borrani failed to pay her monthly mortgage starting March 1, 2011 through the present.

She owes a principal of $176,916.32 plus interest and late fees.

Borrani could not be reached for comment at the number posted on her campaign website.

The apartment at 1 Beecher Lane has a full market value of $101,402, according to the City of Peekskill’s 2013 assessment roll. Peekskill’s finance office said all taxes on the apartment are current.

Twitter: @Ernie_G_journo

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