Former New York Knicks point guard Stephon Marbury may lose his condo in NYC to foreclosure due to unpaid debts from three years ago, according to a report on Wednesday, September 18.
In the documents filed by U.S. Bank International, Marbury has an unsettled debt of $844,035 on his condo since March 2010. The bank is now seeking to repossess Marbury’s two-bedroom and two-bath condo that he bought for more than $1 million in 2006. Marbury was given an option by the bank to either gain back his property or to have it sold in an auction. Stephon also lost a property in L.A. to foreclosure last year.
The prospect of losing a home in a foreclosure can be frightening and stressful. Fortunately, if you are facing this financial penalty in Cedar Rapids, the legal team at Hong Law, PLC, can help you. Learn about your options for foreclosure defense by calling (319) 294-5853.
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