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Terrell Owens unloads Dallas condo in short sale to avoid foreclosure

December 12, 2011 By 2 Comments

“Like I always said, if I’m one of the top players in the game, pay me like I’m one of the top players in the game.”

– Terrell Owens

Former National Football League (NFL) wide receiver, Terrell Owens — who banked somewhere in the neighborhood of $100 million in salary, excluding sponsorship/endorsement deals, throughout his colorful 14-year career on the gridiron — recently rid himself of a $2 million condominium located in Dallas, Texas.

However, Owens — who played for the Dallas Cowboys from 2006 to 2008 — had to negotiate a short sale, accepting $1.6 million (about a $400,000 shortfall) rather than losing the property to foreclosure. FOXSports.com reports that this isn’t the first time that the outspoken and controversial wideout has made a short sale play, selling off another property at a $56,000 loss not too long ago.

The six-time Pro Bowl selection, who cracked into the league back in 1996 with the San Francisco 49ers where he played eight seasons, has experienced major financial problems since his involuntary exit from the sport last year because of a knee injury. In fact, he barely avoided jail time a few months for failing to pay child support for his young daughter in Atlanta, Georgia.

Owens, 38, who trails only NFL Hall of Famer Jerry Rice in all-time career touchdowns and receiving yards, recently held a highly-publicized workout for NFL teams in an attempt to keep his career alive. Not a single team attended and Owens remains a free agent.

Filed Under: Celebrity Foreclosures, Real Estate Short Sales, short sales, Texas Foreclosure Homes

Christmas-themed ‘Snoopy’ house in Costa Mesa, CA, falls into foreclosure

December 7, 2011 By Leave a Comment

It seems as though not even Charlie Brown is safe from foreclosure these days.

Los Angeles Times reports that a traditional “Peanuts” holiday scene that has been a seasonal staple outside of a home in Costa Mesa, Calif., for 44 years will be interrupted this month because of foreclosure. The distressed homeowners, who “strategically” defaulted in 2010 to hoping to renegotiate the home loan, were evicted from the property in late November.

In lieu of the unfortunate circumstances, the community has rallied behind the family, as well as its Christmas tradition, and the local government has agreed to let volunteers decorate City Hall grounds with the displaced “Peanuts” gang. In addition, several supporters have created a “Save the Snoopy House Fund,” collecting donations to help reverse the foreclosure.

To check out the official Facebook and Twitter accounts and to get behind the cause click here and here.

The bank has indicated that it views foreclosure as a last resort and is “exploring multiple options on how to get his property back” to the original Snoopy homeowners.

Now that would be a real-life Charlie Brown Christmas story.

(Photo by Don Leach, Daily Pilot / December 7, 2011 via LATimes.com)

Filed Under: California Foreclosure Homes, Celebrity Foreclosures, Foreclosure Evictions

Rihanna’s house in LA hits the short sale market for $4.5 million

November 28, 2011 By Leave a Comment

The $7 million home of super successful singer/songwriter, Rihanna, in Beverly Hills, Calif., is the subject of a real estate short sale, according to several published reports.

The Barbadian beauty closed on the newly-built, eight-room expanse back in 2009; however, it’s apparently been nothing but a money pit ever since she assumed ownership.

In fact, the “Umbrella” pop sensation, 23, recently filed a lawsuit against the homebuilder, alleging that poor construction has led to major flooding problems that have caused significant damage. As a result, she has listed the mansion on the market for $4.5 million and will “consider all offers,” meaning that she is willing to accept less than what is owed on the mortgage to expedite her exit.

Typically, the lender that holds the note is tasked with making those types of shortfall decisions; however, it’s unclear if the lawsuit, which names essentially every party involved in the transaction, including the selling agent, will have an impact on the eventual outcome.

Ironically, her decision to get out of dodge appears to coincide with her abusive ex-boyfriend, Chris Brown, recently purchasing a $1.6 million home nearby. Brown, of course, was sentenced to five years probation and more than 1,400 hours in “labor-oriented service” for assaulting Rihanna back in 2009.

Sometimes things really do seem to happen for a reason.

Check out complete details of Rihanna’s water-logged short sale house after the jump (via RealEstalker):

[Read more...]

Filed Under: California Foreclosure Homes, Celebrity Foreclosures, Real Estate Short Sales, short sales

Chris Tucker: Foreclosure on $6 million central Florida house initiated

October 12, 2011 By Leave a Comment

It’s turning into foreclosure “Rush Hour” on actor/comedian Chris Tucker’s 10,000 sq. ft. waterfront mansion in Lake Apopka, Fla., which is reportedly in distress to the tune of $4.4 million.

Orlando Sentinel reports that Tucker, who purchased the luxurious five-bedroom expanse for $6 million back in 2007, is in jeopardy of losing it after SunTrust Bank filed a default notice with the local Lake County courthouse. It is not his primary residence, which is perhaps among the many reasons he has not remained current on the staggering $25,812.50 monthly payment.

Tucker and and his power of attorney on the original home sale declined to comment on the situation.

With a combined salary of $45 million to star opposite Jackie Chan in the “Rush Hour” sequel, as well as the trilogy, including an additional multimillion dollar deal to appear in another New Line Cinema-produced film, it’s hard to imagine that Tucker is hard up for cash.

However, last year Tucker and the central Florida property in the prestigious Bella Collina neighborhood were the target of an $11.5 million Internal Revenue Service (IRS) lien, which was out to collect delinquent federal income taxes.

“Money Talks.”

Filed Under: Celebrity Foreclosures, Florida Foreclosure Homes, Florida Foreclosure Listings

Burt Reynolds house in Hobe Sound, Florida, faces foreclosure

August 16, 2011 By 2 Comments

Perhaps the most recognizable celebrity to emerge from South Florida, Burt Reynolds, is in danger of losing his 4-acre compound in Hobe Sound to foreclosure.

WPTV.com reports today that the 75-year-old actor has not paid his mortgage since Sept. 2010 and owes $1.2 million on a luxurious slice of coastal waterfront real estate that he has in the past referred to as his very own “Valhalla,” which is a majestic mythological paradise.

The San Francisco Chronicle details more about its many amenities:

[Read more...]

Filed Under: Celebrity Foreclosures, Florida Foreclosure Homes, Florida Foreclosure Listings
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