Not too far from my home sits Evander Holyfield’s monster mansion. With 109 room and 235 acres the home is the largest in our county and sits on Evander Holyfield Highway.
And according to local reports, the 10 million dollar mortgage on the property was past due and the home went up for auction. According to attorneys for Holyfield, the foreclosure situation was rectified, but for the former boxer, this would be a big blow to his ego.
Of course, it may explain why Evander will not retire from boxing. He is still paying on the mortgage.
Another point of interest for real estate folks is that when Evander Holyfield built his home in the northern part of Fayette County, Georgia, it was mostly rural. Since then there has been a tremendous amount of high quality development aimed at black professionals. Now this part of the county is a great community that has attracted other professional athletes and entertainers from the music industry.
I wish Evander and his family well as he tries to get the situation under control.
Holyfield appeared on the verge of losing his home, which sits on 235 acres just south of the Fulton County line, after a foreclosure notice appeared in Wednesday’s Fayette Daily News. Lien holder Washington Mutual, demanding full repayment of a $10 million loan, had scheduled an auction on July 1.
On Friday, Philip Hasty, an attorney for Shapiro & Swertfeger in Atlanta, the law firm representing Holyfield’s lending company, confirmed that the estate is no longer up for auction. Hasty said that the change happened Thursday morning but he declined to comment further.
Holyfield would not elaborate on the foreclosure listing but said “everything is alright with the house now.”
Holyfield’s former accountant, Sam Gainer, who was fired by the former world champion last fall, said he had advised his client to sell the estate, or at least some of the property. via ajc.com.
I also saw on Yahoo news the other day that Ed McMahon is fighting foreclosure on his Beverly Hills home.
It's not surprising to see "famous" folks struggling to. A downturn in the market/economy will effect even the wealthy to an extent. And I guess catching up on a payment or two can be a bit of a different story when you own a home in the multi-millions in value.
…jp
[...] Evander Holyfield Almost Loses Home In Foreclosure Auction [...]
I'm not surprised, either! It's the American way to live beyond our means, even the wealthy!
Someone should teach these guys how to invest wisely… What a shame.
Okay so how stupid does Evander and all these allegedly sensible starts feel when they make it big after maybe struggling and then go OVER BOARD and spend lavishly tring to show up each other with the best and biggest of everything, tv, cars, pools etc.etc…… and then they end up bankrupt with foreclosures.
It just is embarrassing as a black woman who lives in a devoloping country with real financial problems. You happen to do well and make it big, fabulous !! So then take your money, enjoy in moderation and invest !!!!! You want to have something left over for your kids, yourselves etc etc .
BE SMART PEOPLE !!!
How many cars can you really drive or how many plasma tv do you need to watch tv. !!!
[...] times are hard for all I guess. She joins Evander Holyfield as famous Atlantan’s to face foreclosure. One huge difference is that in Atlanta a million dollar plus home is huge, while on the coasts they [...]
[...] being a sports fan, I didn’t realize that former champ and lousy money manager Evander Holyfield has another title bout this weekend until I saw this NYT [...]
[...] If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Evander Holyfield’s home is massive. When you drive by it (it is not far from our house) you think it is a museum. But the cost of maintaining the home and the other expenses that the aging boxer are wearing out his resources and for the second time in a year the home is under foreclosure. [...]