NBAs Latrell Sprewell foreclosure home in Milwaukee

sprewell
Michael Jackson is not the only celebrity facing a possible foreclosure.

Three-time National Basketball Association (NBA) All-Star, Latrell Sprewell, is in danger of losing his half-million dollar home in River Hills, Wisconsin, according to USA Today. The report indicates that the former Golden State Warrior, New York Knick and Minnesota Timberwolve has not paid his $2,593 mortgage since September 2007.

Sprewell — who played 13 seasons in the league — earned an annual salary of $14.6 million in the final year of his career.

This is not the first time Sprewell is up against foreclosure. Last summer he defaulted on a $1.5 million yacht mortgage and lost the vessel at a public auction (it sold for $865,000).

It just goes to show once again that no one is immune to foreclosure — it can happen to anyone at anytime.

(Except for maybe Bill Gates and a handful of other zillionaires.)

Comments

  1. Cali says:

    O wow. It’s funny how its not at all sad when punks like Sprewell who had millions of dollars squandered it all and are now foreclosing. I don’t feel bad at all.

    You know who is immune to foreclosures, people that don’t have debt….

  2. Aaron says:

    I think what this shows is that we don’t have a very good “money culture” in this country. That is, as a society, we just don’t teach our children very well how to effectively manage money and make long-term budgets. This is particularly true amongst the poorest parts of society, so it isn’t a surprise to see folks who suddenly “get rich” (basketball players, for example) defaulting on their debts several years after the money stops flowing. Moreover, a culture that encourages you to flaunt your wealth only exacerbates the problem. For so long we were content to look at this kind of thing as “someone else’s problem,” but now the state of the economy is showing us, poor budgeting by a even a few (and exploitation by another few), can have a very serious effect on everyone. Perhaps it’s time to reexamine our nation’s relationship with money.

  3. Nico says:

    As much of a blowhard as he is, Al Gore is absolutely right. The assault on reason in this country is going to bring us down. If you can’t do simple math, if you believe your own myth, and if you’re arrogant, then you deserve to go down. Here’s a great example.

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