Celebrity Foreclosures

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Popular rapper and host of MTVs “Pimp My Ride,” Xzibit, has failed to pay more than $21,000 in mortgage payments and is now in jeopardy of having his Woodland Hills, Calif., repossessed by the lender.

TMZ.com reports, however, that the possible foreclosure action could be the least of his financial concerns.

Here’s a snip:

“In addition to nearly losing his home in Woodland Hills, California — it was reported last week that the IRS filed a $205,485 lien on X in L.A.County for non-payment of his 2007 taxes, and yet another one for an additional $296,355 for 2006.”

Alvin Joiner (his birth name) has been a fixture on the rap scene ever since his first album, “At the Speed of Life,” dropped in 2006. He has been able to parlay that success to the silver screen, appearing in several movies, including “Full Clip,” “Derailed,” “Hoodwinked” and “Gridiron Gang,” among others.

To check out other celebrity foreclosures on Foreclosure.com click here.

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Ray Nagin — the passionate and often controversial 60th Mayor of New Orleans, La. — is in danger of losing his “vacation home,” which is located in a Dallas, Texas, suburb, to foreclosure, according to the Wall Street Journal.

Nagin — who is perhaps best known for his handling of the epic Hurricane Katrina disaster in 2005 — purchased the property, valued at $182,000, as a “hurricane home.”

Court records indicate, however, that Nagin has failed to pay the Homeowner’s Association (HOA) fees on his 1,700-square-foot home in Frisco. It is expected to be put up for sale at a public auction on April 7, 2009, if the lien issued by the HOA is not resolved in the next few days.

The good news is that the report indicates Nagin intends to resolve the matter “shortly.” The clock is ticking … the auction is little more than three days from now.

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It was fourth and long for Funari Realty this week and the real estate company may have given up a sack.

That because one of its high profile listings — the eight-bedroom, 20,000-square-foot mansion of former National Football League (NFL) superstar and current Fort Leavenworth prison inmate, Michael Vick, in suburban Atlanta, Ga. — hit the auction block yesterday to little fanfare.

In fact, just two curious buyers showed up but did not place the minimum bid of $3.2 million to become a new homeowner in the upscale Sugarloaf Country Club community, according to CNN.com.

Narender Reddy of Metro Brokers/GMAC Real Estate was one of those interested in the sale because a client of his offered the same amount as the minimum bid two months ago. Funari Realty, however, passed on the offer, according to the article, thinking more could be made in an auction format.

Now he intends to advise his client to offer less than the original $3.2 million after the luxurious Gwinnett County residence, which has been on the market for more than one year, attracted so little interest this week.

Vick lived in the home while he played quarterback for the Falcons. He was forced to vacate it and serve a 23-month sentence at the federal penitentiary under terms of his plea for running a major dogfighting operation in late 2007.

He has since struggled to repay creditors and filed for bankruptcy while incarcerated. The sale of the Atlanta home, which he more than likely no longer needs since he was released from the Falcons after his arrest, and other assets will be put toward paying off debts the 28-year-old athlete has amassed.

Vick is scheduled to be released in May to serve the final two months of his sentence under home confinement at another property he owns in in Hampton, Va. He has expressed an interest in returning to the gridiron; however, he will have to receive the stamp of approval from the league commissioner before that can happen.

We’ll pass along additional news on Vick’s home in Duluth as it becomes available.

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The eight-bedroom, 20,000-square-foot mansion of former National Football League (NFL) superstar and current Fort Leavenworth prison inmate, Michael Vick, is scheduled to hit the auction block for a minimum bid of $3.2 million on March 10.

Bidding is set to begin at $25,000 increments until a bid of $3.3 million is reached. Bids will then be done in $10,000 increments, according to an MSNBC.com report.

NFL Fan House has a little slideshow of the luxurious Gwinnett County residence, which is near Atlanta and where Vick plied his trade as quarterback for the Falcons until he was sentenced to serve a 23-month sentence at the federal penitentiary under terms of his plea for running a major dogfighting operation.

During that time he has struggled to repay creditors and has filed for bankruptcy. The sale of the Atlanta home, which he more than likely no longer needs since he was released from the Falcons after his arrest, and other assets will be put toward paying off debts the 28-year-old athlete has amassed.

Vick is scheduled to be released in May to serve the final two months of his sentence under home confinement at another property he owns in in Hampton, Va. He has expressed an interest in returning to the gridiron; however, he will have to receive the stamp of approval from the league commissioner before that can happen.

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It’s déjà vu all over again for a Lake City, Ga., couple that was featured on Extreme Makeover: Home Edition.

Milton and Patricia Harper are once again in danger of losing their 5,500-square-foot Clayton County home in suburban Atlanta to foreclosure, according to WSBTV.com.

The homeowners first encountered mortgage trouble back in July 2008 when they defaulted on a second $450,000 loan that they took out against the rebuilt mansion to finance a construction business that eventually went belly up.

It appeared that they were able to resolve the situation with their lender when it did not go up for auction. Not for long — now the home is once again headed for the courthouse steps on Tuesday, March 3.

Extreme Makeover: Home Edition involves a team of designers, contractors and several 100 workers who all have just seven days to totally rebuild an entire house — every single room, plus the exterior and landscaping, according to the program’s official Web site.

While the intentions are well-placed it is, unfortunately, not uncommon for families featured on the show to run into problems once the construction and camera crews wrap things up.

Eric Hebert reportedly has little more than 90 days to cure the default or lose his Sandpoint, Idaho, home to the bank after he used the new digs as collateral to pay off an old mortgage. Sadie Holmes of Florida has had to battle code violations as a result of her remodel. And a family in Oak Park, Mich., was only able to stay in their residence thanks to outside donations.

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