
The parents of Ryan Lochte, the Olympic swimming star, just took a nosedive into the foreclosure crisis. About two years ago, Steven and Ileana Lochte stopped paying their mortgage on the Port Orange, Fla. home. Even with the millions of dollars the Olympic star made in endorsements, he decided to not help his parents. At this point, the home has not been listed on the market yet.
According to reports, the Lochtes borrowed $258,000 in 2007 for the home. They still owe about $242,000 on the foreclosed property.
This photo is courtesy of Ubcwwong via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>
Orange County Courthouse
It seems that Nadya Suleman, also notoriously known as Octomom, is back in the news for her housing issues. Currently, Suleman and her 14 children are renting a place in Orange County, Calif. Lana El-Jor is the landlord, and she is fed up with the family of 15. In fact, she wants them out by Christmas.
El-Jor told E! News that, “I have had problems refinancing the bilding myself because of her.” This was one of the reasons the landlord wants them out. The bank was refusing to support the loan because the Suleman family has left the property looking abused.
The home has visible broken windows that can be seen from the street. It gives the impression that the five-bedroom, three-bathroom house is in poor condition. El-Jor claimed that the family is living cramped in the home. A family of this size needs larger quarters and backyard.
Where will Octomom and her 14 children head to next?
This photo is courtesy of tracie7779 via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>
Plaxico Burress’ life changed in 2008. He was convicted with two counts of criminal possession of a weapon. Moving forward to 2011, his fate changed. He was released from prison and able to save his Lighthouse Point, Fla. home from foreclosure. Now, the once well-paid rising NFL star is about to lose millions on the waterfront mansion.
In September 2005, he purchased the home for $3.995 million. The Broward County home was listed for $3.1 million, but an offer as little as $1.565 has come in. Regardless of the listing, Burress was able to hold on to the property a little longer. The home was just relisted for $2.3 million short sale.
The Fort Lauderdale Venetian-style home has five-bedrooms, marble flooring and a stained-glass dome in the entryway. Some of the luxuries of the mansion include a sun deck in the master suite, a media room, an office and elevator.
]]>
Jenna Jameson, the adult star and “heart breaker,” just lost her Hollywood Hills mansion. She defaulted on the mortgage after the home had water damage. She decided to not fix the property because she said it was not worth the expense. Before the water damage, she did unsuccessfully try to sell the home.
Jameson listed the home for $1.899 million. That is nearly a million dollars less than what she paid for it in 2006. After no one was interested, the home headed into foreclosure. She stopped paying on the mansion, and defaulted on her mortgage payments by $56,918. In June 2013, the final judgment against her was for $2,027,816.
The home just sold at a foreclosure auction for $1.8 million.
This photo is courtesy of Peta via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>
Daunte Culpepper, the 2006 quarterback for the Miami Dolphins lost his almost 10,000 square foot home to the bank due to foreclosure. About 10 years ago, Culpepper signed a 10-year deal with the Minnesota Vikings worth over $100 million. Culpepper was then signed to the Miami Dolphins in 2006 after obtaining a knee injury with the Raiders from the prior year. Culpepper bought the property for around $3.6 million after the Miami Dolphins signed him.
Daunte Culpepper struggled from his past knee injury and only played with the Dolphins for one year. This ultimately led to his foreclosure on his house. Culpepper does still have another house in Broward County that he is currently living in.
This photo is courtesy of Culpepper.JPG: Wrightsonjackson derivative work: Muchness via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>
In recent news, Detroit Masonic Temple was up for foreclosure. However, Jack White who plays for the band White Stripes holds this place dear to his heart. With that said, White stepped in and paid $142,000 in back taxes. With this heroic play, White single-handedly saved the venue from foreclosure.
Now that Detroit Masonic Temple is in the clear, it has a bright future. In fact, the venue is renaming one of the theaters to Jack White Theater that houses 1,568 seats. With White saving his hometown theater, what will be next for the charitable musician?
This photo is courtesy of Bill Ebbesen via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>
About a year ago, we talked about Fantasia Barrino fighting to keep her North Carolina home out from foreclosure. It seems that the “American Idol” winner has lost the real estate battle. According to court documents (via TMZ), she avoided the entire foreclosure process because she transferred the deed to the bank in February.
Barrino gave up the fight on her home and left behind the 6,500 square-foot North Carolina mansion. She reportedly purchased the property for $1.3 million back in 2007. However, her financial problems began in 2008. This was when she supposedly defaulted on a $58,000 loan from Broward Energy Management.
This was what triggered the house to go on the market for $800,000 last April.
This photo is courtesy of Jyle Dupuis via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>
R. Kelly’s Chicago home has finally sold. However, the sale was more than a $4 million loss. The property includes 11,140 sq. ft. with six full baths, seven half-baths and a four-car garage. It was valued for over $5 million. At the foreclosure auction, the new homeowner purchased it for $950,000.
According to reports, R. Kelly owed over $3 million dollars on the home.
This photo is courtesy of Allgamenab via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>
Robert Swift, a former NBA star, was drafted in 2004 right out of high school. His NBA career was short and so are his living arrangements. His Seattle home has been foreclosed on, and Swift is refusing to leave. Swift is not taking care of the home well either.
The outside of the property is not maintained, and surrounded by trash (beer and Four Loco cans galore). There are buckets of water sitting with trash inside of it. The cars in the driveway seem to not have moved in a very long time.
If Swift is not out of the home by the end of February, he will be evicted by the sheriff’s office.
This photo is courtesy of STB-1 via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>
Former KISS guitarist, Ace Frehley, is in foreclosure on his Westchester home. He has not paid his mortgage for two-years. It has been reported that he owes over $700,000 on the $735,000 three-bedroom, three-bathroom home. He purchased the 2,441 square foot residence on Feb. 15, 2006.
However, the bad news does not stop there. Frehley also owes almost $20,000 in back property taxes. This ‘Spaceman’ better get some quick cash or KISS that home goodbye.
This photo is courtesy of Toglenn Uploaded by MyCanon via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
]]>