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Posted Feb 13th 2008 9:02AM by Deidre Woollard
Filed under: Estates, Celebrity Shopping, Sports
The latest celebrity victim of the foreclosure crisis is former NBA star Latrell Sprewell. Last summer, Sprewell's yacht, the 70-foot "Milwaukee's Best" was repossessed now his home is meeting the same fate. RBS Citizens NA, or Citizens Bank, has filed a foreclosure suit on Sprewell's $405,000 home in River Hills, a suburb of Milwaukee. Sprewell bought the home in 1994 and owed $295,138 in outstanding payments plus interest. The documents say that Sprewell failed to make his mortgage payments of $2,593 per month since last September.
Sprewell, now 37, was once one of the NBA's infamous bad boys, known for choking a coach during practice. He played 13 seasons total for three teams. Just a few years ago he turned down a hree-year,$21 million contract extension from the Minnesota Timberwolves saying, "I've got my family to feed." At that time he was making $14.6 million a year. The yacht, which Sprewell bought for around $1.5 million was sold at auction for $856,000 to help pay off the $1.3 million he owes on the boat.
Sprewell is in some good company. Check out our gallery of other celebrity foreclosures below.
http://www.luxist.com/2008/02/13/for...g-foreclosure/
Filed under: Estates, Celebrity Shopping, Sports
The latest celebrity victim of the foreclosure crisis is former NBA star Latrell Sprewell. Last summer, Sprewell's yacht, the 70-foot "Milwaukee's Best" was repossessed now his home is meeting the same fate. RBS Citizens NA, or Citizens Bank, has filed a foreclosure suit on Sprewell's $405,000 home in River Hills, a suburb of Milwaukee. Sprewell bought the home in 1994 and owed $295,138 in outstanding payments plus interest. The documents say that Sprewell failed to make his mortgage payments of $2,593 per month since last September.
Sprewell, now 37, was once one of the NBA's infamous bad boys, known for choking a coach during practice. He played 13 seasons total for three teams. Just a few years ago he turned down a hree-year,$21 million contract extension from the Minnesota Timberwolves saying, "I've got my family to feed." At that time he was making $14.6 million a year. The yacht, which Sprewell bought for around $1.5 million was sold at auction for $856,000 to help pay off the $1.3 million he owes on the boat.
Sprewell is in some good company. Check out our gallery of other celebrity foreclosures below.
http://www.luxist.com/2008/02/13/for...g-foreclosure/
NBA is a joke
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