Pugh likely to walk away from mortgage on Brush Park condo

``Pugh paid $385,000 for the three-story, two-bedroom townhouse on Adelaide Street,east of Woodward, in 2005. But following a prolonged decline in housing values, a condo next door recently sold for $80,000, Ussery said. Pugh had a string of money problems in 2009 and almost lost the same condo after defaulting on a $331,000 bank loan. He renegotiated the mortgage, slashing his monthly payment from about $4,000 to less than $3,000 plus condo fees, he said.''