Former heavyweight professional boxing champion Evander Holyfield is receiving the standing eight count from Fayette County in Georgia, which claims that his $10 million home in Atlanta is headed to a foreclosure auction set for July 1 because he is behind on his mortgage payments.

The 54,000-square-foot mansion comes complete with 109 rooms, including 17 bathrooms, three kitchens and a bowling alley.

But not so fast. The home — located on Evander Holyfield Highway — could be saved after all.

Holyfield had this to say regarding the situation via the Atlanta Journal Constitution:

“Everything is alright with the house now…. I’m not broke. I’m just not liquid.”

The 45-year-old slugger is also apparently behind on child support payments, as well as “running” from a loan worth more than $500,000 that was used to landscape the property in question.

Holyfield has made millions throughout his career as a prize fighter. In fact, he pocketed a cool $34 million to go toe-to-toe with Mike Tyson back in 1997 in what is now referred to as “The Bite Fight.”

That fight cost him a chunk of his ear … this one would cost a whole lot more.

Ed McMahon — the iconic television personality who is perhaps best known for his role as an announcer on the “Tonight Show” with Johnny Carson for three decades — has defaulted on a $4.8 million home loan and is in danger of losing his Beverly Hill, Calif., residence to foreclosure, according to WSJ.com.

The report indicates that McMahon has been actively attempting to sell the house for the past two years and has reduced the price to $5.75 million.

However, the 85-year-old celebrity and the mortgage lender, Countrywide Financial Corp., are now working together to hammer out a resolution that ensures McMahon and his wife remain in their six-bedroom home.

So how does something like this happen to such a well-known — and seemingly wealthy — homeowner?

His lawyer indicates that a slumping housing market, as well as a broken neck sustained 18 months ago that has prevented McMahon from working, are the causes behind the foreclosure proceedings.

It’s a painful reality that McMahon shares with many homeowners throughout California and beyond. In fact, his lawyer issued this statement from the McMahon’s:

“… understand that they are in the same situation as hundreds of thousands of other hard-working Americans, and their hearts go out to them.”

There are several options still open to avoid foreclosure. And it’s not just because McMahon is famous. It’s important to be open and honest with lenders and open the lines of communication as soon as possible.

Often times banks will bend over backwards to ensure that their loans don’t end up in foreclosure — no matter who you are … especially right now.

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.

The Santa Barbara County, Calif., foreclosure auction that is set for this Wednesday will not include the 2,500-acre Michael Jackson mansion, according to the Los Angeles Times.

No financial details were revealed at this time; however the article mentions that an investment company called Colony Capital LLC purchased the defaulted loan. Jackson owed the lender $24.5 million, which he was either unwilling to or incapable of paying to remain the rightful homeowner.

Here’s what he had to say about the eleventh-hour development:

“… pleased with recent developments involving Neverland Ranch … that would allow me to focus on the future.”

The report indicates that Jackson “still gets to keep Neverland Ranch,” which perhaps means that he was able to strike a deal with Colony Capitol to purchase the loan on his behalf.

No one currently resides in the mansion nor is it clear what its future holds. Stay tuned for more details.

Former professional baseball superstar Joe Canseco just didn’t have the “Juice” or the desire to hang on to his 7,300-square foot mansion in Encino, Calif., according to Yahoo!News.com.

In fact, he simply walked away from the $2.5 million home because it “didn’t make sense” to continue paying the mortgage. Unsurprisingly, the lender has issued foreclosure proceedings to reclaim its asset.

Here’s a snip from the former “Bash Brother”:

“I do have a judgment on my home and it to me is very strange because it didn’t make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else. You know my life, this financial thing, is a very complicated issue. Obviously, when you make all that money, people think, `OK, let’s assume it is $35 million.’ People have to understand that $35 million, you’re paying the government 41 percent. That leaves you with about $17 or $18 million, not even. Then you’re taking care of your whole family.”

Canseco, the 1998 American League Most Valuable Player (MVP) and six-time All Star, reveals that divorces have also cost him millions.

He essentially retired from the sport in 2002 despite some unsuccessful attempts to return since that time.

However, in 2005, Canseco penned a controversial autobiography dubbed, “Juiced: Wild Times, Rampant ‘Roids, Smash Hits & How Baseball Got Big”, which was a scandalous glimpse into his own steroid abuse, as well as (allegedly) his peers, and much more.

It was a best seller. And there’s recent news that he’s signed on to write a sequel.

Cha-ching.