Bill de Blasio is in debt up to his eyeballs.
He has treated his two Park Slope houses as ATMs, taking out a series of loans on each that have left him owing $1.28 million, city records show.
He and wife Chirlane McCray secured a $360,000 mortgage in 2000 to buy the 11th Street house where they now live. In the ensuing years, they took out lines of credit on the home and modified their mortgage several times as it rose in value.
Just last month, they took out a $650,000 mortgage.
The city pegs the value of the home at $1.2 million.
The couple also owes $630,500 on a two-family rental on 11th Street. They borrowed $459,350 in 2004 to buy the house, which cost $612,500. The original mortgage was modified three times. The city values the home at $1.1 million.
If de Blasio and McCray borrowed at 5 percent, their monthly payments would be about $3,650 on their home and $3,380 on the rental, said Mark Maimon, a vice president at Sterling National Bank in Brooklyn.
The couple reported taking in $47,500 in rental income in 2011.
De Blasio is paid $165,000 a year as public advocate. McCray, a poet and former speechwriter, works unpaid for his campaign.