Newport Beach City Councilman Ed Selich has been able to save his home from foreclosure.

The property was scheduled to be sold at a foreclosure auction Tuesday, but he was able to bring the loan current in February, and the auction was canceled.

A legal notice of the auction was printed in the Daily Pilot.

This was at least the second time that Selich's home was threatened with foreclosure. He was also able to stave off an auction in June.

Selich said the pending foreclosure was "the result of a business matter."

According to his biography on the city's website, Selich has been a real estate developer since 1984 and has owned and operated a property management company.

—Mike Reicher