Sprewell's house foreclosed Posted: May 12, 2008 A River Hills house belonging to former NBA star Latrell Sprewell was foreclosed on Monday after he failed to show up in court to contest the action brought by a bank that held his mortgage. The holder of the mortgage, RBS Citizens Bank, told Milwaukee County Circuit Court Judge David Hansher that Sprewell owed $320,284. According to River Hills records, the house is assessed at $610,000 and has an estimated fair market value of $667,980. Sprewell bought the house in 1994 for $405,000. Sprewell, 37, a Milwaukee native and Washington High School graduate, has had other financial difficulties lately. In January, his 70-foot yacht, "Milwaukee's Best," was sold at auction by the U.S. Marshals Service. The yacht, said to be worth $1.5 million, went for $856,000 after Sprewell failed to make the $10,322 monthly payments. In March, Community Bank Group obtained a $72,698 judgment against Sprewell; in September 2007, the state filed a lawsuit against Sprewell for $72,102 in unpaid taxes. Neither judgment has been satisfied. Sprewell, 37, once turned down a three-year, $21 million contract extension with the Minnesota Timberwolves, saying, "I've got my family to feed." Marie Rohde -------------------------------------------------------------------------- So how are you feeding em now, Spree? This was an issue that always urked me. After the best season in the T-Wolves troubled history He had the nerve to turn down that kind of money?!? It did make me smile to find out that all the other Gm's in the league were turning thier back and laughing at how he turned down a contract that no one else was will to offer him. Greed is not an admirible trait.
If 14 million wasn't enough to feed his family, can we really be surprised if he can't pay off a house with whatever money he saved, if he was smart enough to save any money, from his NBA career?
