Former NBA All-Star Latrell Sprewell walked away from his River Hills home in Milwaukee, Wisc., failing to appear in court recently to contest the foreclosure filing from his lender, RBS Citizens Bank, according to JSOnline.com.
Sprewell owed $320,284 on the home, which he purchased for $405,000 in 1994.
He defaulted on his mortgage because he refused to make monthly payments to RBS Citizens Bank on the loan and the lender had no choice but to repossess the property.
The report also indicates that the state filed a lawsuit against the 37-year-old in 2007 because of unpaid taxes to the tune of more than $72,000. In addition, Community Bank Group earlier this year obtained a $72,698 judgment against Sprewell.
For more on this situation, including information about the foreclosure on Sprewell’s yacht, click here.
It just goes to show that nobody is immune to this mess. You wonder just how ugly this thing is going to get.
LMAO@that comment. That fool walked away from an NBA contract, because he didn’t want to pay his baby mama. WTH lol and now this, yea no one is immune when they don’t pay their bills
its a sad moment but the man made 96 mil over his nba career and i find it hard to believe that he is broke, he maybe broke to nba standards but hes not regular people broke more like nba broke. He was insulted when the Twolves offered him a contract 60% off what he was making. That is an insult, I wouldnt work for a 60% paycut and with 60% less i wouldnt be able to feed my family. So that statement was a stupid statement because he was making so much more than the avg person and it soured them alot especially with his nba past..thats the true reason hes not playing anymore. Also I live in milwaukee and I know what silent businesses he is part of and he still makes alot of money so people who have never made alot of money make “hater” comments and they just want him to be a regular person with regular income like them and the truth is hes not nba rich but he is mc hammer broke which isnt that bad when you really look at it. He still has rich friends that could loan him a few mil and it wouldnt hurt them which the avg person doesnt have that option and they dont have his money making networking abilities or know the people he knows because of the arena he was in………remember the guy did have a huge part in spinning rims all over america.