Celebrity Foreclosures

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Micheal-Jacksons-Dr

Dr. Conrad Murray — the man at the center of the investigation into Michael Jackson’s death — could lose his Las Vegas, Nevada, 5,268-square-foot home in the exclusive Red Rock Country Club home to foreclosure, according to the Associated Press.

The report indicates that Murray “racked up a debt of more than $100,000 plus penalties since his last $15,000 payment in January” and could forfeit the two-story residence to the lender as soon as Nov. 2009.

Foreclosure, however, may be the least of his concerns at this time.

Murray was with Jackson at his home when he suddenly died last month at the age of 50 as a result of cardiac arrest. Speculation has run rampant that Murray, Jackson’s personal physician, may have possibly contributed to his death with a lethal dose of anesthetic Propofol.

It’s important to note that the Los Angeles County Coroner’s Office has yet to release its official autopsy findings into the cause of Jackson’s death. Furthermore, even though his home and office have been searched by law enforcement officials, Murray has not yet been publicly named as a suspect in the ongoing investigation.

More on Murray’s foreclosure situation at 2426 Grassy Spring Place as it develops … stay tuned.

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With just one day to spare, the 54,000-square-foot mansion of former four-time heavyweight professional boxing champion, Evander Holyfield, in Atlanta, Ga., has been rescued from a public foreclosure auction that was scheduled for tomorrow (July 7, 2009).

Holyfield has been fighting to keep the 109-room home, which includes 17 bathrooms, three kitchens and a bowling alley, among other luxurious amenities, for almost a full year.

It now appears that he has struck a deal with mortgage holder JP Morgan Chase & Company to stay put; however, he must pay back the entire $10 million loan on the 104-acre estate no later than Aug. 4, 2009.

Holyfield has made millions throughout his career as a prize fighter.

In fact, he pocketed a cool $34 million just to go toe-to-toe with Mike Tyson back in 1997 in what is now referred to as “The Bite Fight.” All told it is estimated that Holyfield earned an estimated $250 million in the ring throughout his career, which excludes endorsements, sponsorships, appearance fees, etc.

His agent, Jerry Schaffer, recently informed 11Alive.com that his client “is working on several projects right now, including a comeback fight,” details of which should be announced in the next 60 days.

The 46-year-old slugger — who has also faced a public battle over late child support payments in the past (he has 11 offspring) — doesn’t appear to have that much time … especially if he doesn’t have $10 million at his fingertips.

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Embattled New York Knicks Center Eddy Curry is facing foreclosure on his $3.7 million Chicago-area home, according to the Chicago Sun Times.

The report indicates that Bayview Loan Servicing recently filed notice in Cook County Circuit Court against Curry and his wife, Patrice, revealing that the couple is about eight months (more than $217,000) behind on their mortgage payments.

Curry — who was selected fourth overall by the Chicago Bulls straight out of Thornwood High School in South Holland, Ill., in the 2001 NBA draft — has earned an estimated $34 million since 2005.

However, financial mismanagement could be to blame — Curry is suing his former business manager for a “thorough accounting” of the 26-year-old’s finances during the last three years.

It could also be the reason Curry has been the target of five separate nonpayment-related lawsuits over the last 18 months. His former chauffeur, David Kuchinsky, earlier this year also accused Curry of sexual harassment in an outrageous case that is still pending.

Around the same time, Curry’s ex girlfriend and nine-month-old daughter, Ava, were murdered in Chicago.

Curry is not the only NBA star to fall into foreclosure — former All Star Latrell Sprewell captured national headlines in early 2008 when he defaulted on his half-million dollar home in River Hills, Wisconsin. For more on celebrity foreclosures check out our archive right here.

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Here’s Ed McMahon talking to Larry King on CNN about what happened in his life to allow his California home to go into foreclosure:

McMahon died on June 23, 2009, at the age of 86. Rest in peace.

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Finally … some good news about a relatively rich and semi-famous “celebrity” buying a foreclosure and not ending up in it like several others we have written about right here.

Milwaukee Brewers outfielder Ryan Braun — the National League Rookie of the Year in 2007 — recently purchased a five-bedroom, seven-bathroom foreclosure home in Malibu, Calif., for $4.85 million, according the Los Angeles Times.

It’s a quite a distance (and climate change) from blustery Wisconsin; however, it seems that the price was right — the report indicates that Mediterranean-inspired home was “listed at a high of $8.9 million in 2007 and had been marketed at $5,299,900 since the fall.”

That’s a handsome savings, especially when you consider luxurious amenities like this:

“The gated [home] has ocean views and sits on more than an acre with a swimming pool, spa and built-in barbecue. The interiors include three fireplaces and travertine and hardwood flooring. There is a two-bedroom, one-bathroom guesthouse and a movie theater.”

“The Hebrew Hammer” grew up in Granada Hills, which is about an hour east of the ritzy coastal enclave. His father immigrated to the United State from Israel at age seven.

We know that most folks aren’t high-rolling Major League Baseball All Stars, but if you want to check out other foreclosed homes in the Malibu area click here.

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