Council Hears How Slumlord’s Empire Came to Sit in the Hands of Philadelphia Banks

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Thanks to our friends at Baltimore Slumlord Watch for the heads up on this:

Yesterday, Philadelphia City Council’s Committee on Housing and the Homeless heard from the victims of slumlord Robert Coyle, the Kenzinger whose empire of low-value homes in Kensington and Port Richmond once numbered in the hundreds — until Coyle defaulted on millions in mortgages he had borrowed from local banks.

He is also accused  of enticing “buyers” of his properties with bogus “rent-to-own” agreements — in some cases written, in others  simply verbal. Coyle is now rumored to be living in New Jersey.

Read more from Philadelphia City Paper.

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