Latrell Sprewell Facing Foreclosure

The former basketball star who was made infamous by choking coach P.J. Carlisemo faces foreclosure after failing to make five months of mortgage payments.  He’s not the only star facing mortgage problems, as we’ve reported on MJ’s (Jackson, not Jordan’s) foreclosure woes.

Sprewell owes about $259k on a $450k Milwaukee home.  He also had his $1.2 million yacht repoed and auctioned after failing to make his monthly payments on the boat.   This from a man who turned down a 3-year $21 million contract to voluntarily retire stating he “has a family to feed.”

From the ESPN story covering the Sprewell foreclosure:

Former NBA star Latrell Sprewell’s home is up for foreclosure and his yacht sold at auction to help pay off the $1.3 million he owes on the boat, according to court filings.

Sprewell, who once turned down a three-year, $21 million contract extension saying, “I’ve got my family to feed,” has apparently fallen on tough times.

RBS Citizens NA, or Citizens Bank, filed a foreclosure suit last week in Milwaukee County for the $405,000 home Sprewell bought in the Milwaukee suburb of River Hills in 1994.

In court documents, the bank said Sprewell owed $295,138 in outstanding payments plus interest.

This post was found on BlownMortgage
Follow the link to get to the orginal message.