R. Kelly mansion loss at foreclosure auction tops $4 million

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Three-time Grammy Award-winner R. Kelly might today be singing the blues.

That’s because the super successful R&B singer, songwriter and record producer took a bath on his custom-built 16-room gated mansion, forfeiting it back to the lender, J.P. Morgan Chase, at a recent Cook County, Ill., foreclosure auction for a modest $950,000.

Kelly paid $1.5 million for the property in the late 1990s; however, he razed the existing structure, took out a $3.5 million mortgage and erected the current 22,000 sq. ft. estate. The suburban Chicago home sits on three acres with a private lake, featuring “six bedrooms, eight full bathrooms, six half-baths, an indoor pool and theater,” according to SunTimes.com.

This is not the first sign of financial trouble for the “I Believe I Can Fly” crooner, who reportedly owed the Internal Revenue Service (IRS) nearly $5 million in unpaid taxes as of 2012.

J.P. Morgan will likely re-list and market Kelly’s former home as soon as possible, hoping to recoup the $2.9 million that is still owed on the original mortgage note.

Photo via Wiki Creative Commons Use license.

Former Miami Dolphins, Joey Porter and Daunte Culpepper, facing foreclosure in Florida

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Don’t blame embattled Miami Dolphins General Manager, Jeff Ireland, for the latest bad National Football League (NFL) news to emanate from South Florida.

Retired four-time All-Pro linebacker Joey Porter, who played for the “Fins” from 2007 to 2009, and three-time Pro Bowl quarterback Daunte Culpepper who barely lasted one season on the roster (2006), are both currently facing foreclosure in the same “Sunshine State” neighborhood. South Florida Business Journal reports (here and here) that Porter is delinquent on his $2.8 million mortgage that he took out on a 10,600 sq. ft. luxury home in Southwest Ranches, while Culpepper is late on his $2.93 million loan for a similar-sized property right around the block.

Porter, according to the report, purchased the $4 million, 2.3-acre property in 2007, which is around the time he came over from the Pittsburgh Steelers after inking a five-year, $32 million contract. In addition to not paying his mortgage, Porter has stiffed the Homeowner’s Association, which filed a lien against him for unpaid dues that date back to 2011.

Culpepper, meanwhile, dropped $3.67 million on his slice of paradise after coming over from the Minnesota Vikings in a trade, earning $8 million guaranteed in his first year. Unfortunately, Culpepper — who was coming off major knee surgery — struggled, was placed on injured reserve after just four games and cut when the season concluded. The Ocala, Fla., native — who starred at Central Florida University — washed out of the league after three more seasons and two different teams.

One can only hope that the Dolphins latest high-profile off-season acquisitions, wide receiver Mike Wallace and linebacker Daniel Ellerbe, have better luck on (and off) the gridiron.

Photo via Wiki Creative Commons Use license.

Former NBA Lottery Pick, Robert Swift, Refuses To Vacate Run-Down Seattle Foreclosed Home

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The taller they are, the longer they fall.

Robert Swift — a 7’1″ former National Basketball Association (NBA) center for the Seattle SuperSonics — is holed up in his suburban Seattle, Wash., home, refusing to vacate the property even though it was recently purchased at a foreclosure auction for about half the price he originally paid for it, according to KOMONews.com.

He has about one week to leave or he will be forcibly removed by the King County Sheriff’s Office.

If the news report is any indication, Swift is in no hurry to pack up and get gone. He was reportedly sound asleep when reporters seeking comment appeared (twice) on his doorstep, which is littered with empty beer cans and a sign on the front door that warns, “Danger Men Drinking.” A bullet hole in a garage window, as well as cars in the driveway “that don’t look like they’ve moved in a long time” only add to to seemingly sad situation.

Swift — a first round NBA lottery pick (No. 12) in 2004 — skipped college, entering the league direct from high school. He played three seasons with the SuperSonics before moving on to Oklahoma City during the 2008-2009 campaign before he could no longer cut it on the professional circuit. In the years that followed, Swift attempted to resurrect his career in the NBA Developmental League and then, most recently, in Japan as a member of the Tokyo Apache.

He reportedly earned about $20 million throughout his professional basketball career.

Jamal Anderson: ‘Dirty Bird’ House In Atlanta Sold In Foreclosure Auction

Retired National Football League (NFL) running back, Jamal Anderson, recently lost his 10-bedroom, 12-bathroom luxury home in Atlanta, Ga., in a foreclosure auction, according to AccessAtlanta.com.

Anderson purchased that mansion for $1.25 million back in 1999, which was at the height of his success on the gridiron. In fact, it was around the same time he helped the Atlanta Falcons to its first Super Bowl in franchise history against the Denver Broncos. Anderson — who led the conference in rushing that year with more than 1,800 yards — picked up 96 yards on the ground in a losing effort (34-19).

After a seven-year career, the “Dirty Bird” hung up the pads in 2001 after suffering a serious knee injury.

Anderson has gone on to become a football analyst on television, often appearing on ESPN and other major networks. He has also had a public battle with the Internal Revenue Service (IRS) since his retirement, as well as brushes with the law that include suspicion of cocaine possession and Driving Under the Influence (DUI).

In 2007, Anderson and his now-foreclosed “crib,” which the bank unloaded for $225,000 less than what he paid for it more than a decade ago, were featured on MTV. Video of Anderson’s MTV “Cribs” episode is below.

Adverse Possession: Florida Man Squats In Style, Takes Over $2.5 Million Boca Raton Mansion

Go big or go home.

Or, in the case of Andre Barbosa, go big and go into a $2.5 million bank-owned home in Boca Raton, Fla., that isn’t his, but claim that it is. Then, complete “adverse possession” paperwork (we define the term here) and file it with the county clerk.

Voila!

Technically, Barbosa is now allowed to live in the home, rent-free, and the local authorities are for all intents and purposes are handcuffed until Bank of America, which reclaimed the property through foreclosure last year, takes notice/action.

And if he pays the bills and property taxes the luxury property would eventually become his by default in seven years.

However, Bank of America doesn’t seem like it is about to let that happen, releasing the following statement on the “serious” matter (via WPTV.com):

“We have been in communication with the Boca Raton Police Department regarding the concerns with the occupants of 580 Golden Harbour Drive. There is a certain legal process we are required by law to follow and we have filed the appropriate action. The bank is taking this situation seriously and we will work diligently to resolve this matter.”

Adverse possession is not new; on the contrary, its roots trace back to 16th-century England (we first talked about it two years ago here). It was introduced in Florida decades ago so that farmers could make the most out of abandoned land.

However, with the foreclosure flood in the “Sunshine State” and banks overwhelmed with paperwork, more and more cunning opportunists are playing the adverse possession card while it’s still possible. In fact, 13 such claims were made in Palm Beach County in 2011, 19 in 2012 and six already in 2013.

None clearly as big (or bold), though, as Andre Barbosa.