Foreclosures are usually associated with people who have been hit by financial difficulties as a result of unemployment or unexpected bills. That isn’t always the case, which is proven by recent news that a former player for the National Football League is facing foreclosure on his Miami condominium.
Clinton Portis, who played for the University of Miami and later for the Washington Redskins, is facing foreclosure on a 2,070 square foot condo in Bristol Towers. The foreclosure lawsuit from JPMorgan Chase Bank is in regard to a $512,000 mortgage on the property.
Portis purchased the property in 2004, which is the same year he inked a $50.5 million deal with the Redskins. His eight-year contract with the franchise ended early. He only played five games in 2010 because of injury. That was the last year he suited up. He retired in 2012 and was one of the players who successfully sued the NFL over concussions. The league recently settled the lawsuit with an agreement to provide medical care and compensation to the players.
The property facing foreclosure isn’t listed as his homestead. It is speculated that the property could be one occupied by family members or that it might be an investment property.
For anyone facing foreclosure, even if the person is a celebrity, the foreclosure can have long-lasting effects. If your home is in the foreclosure process, you might have legal avenues available to help you keep your home. Exploring those options with the help of an experienced Florida bankruptcy attorney might help you to better understand them so you can choose the one that is right for your situation.
Source: South Florida Business Journal, “Former NFL star Portis hit with foreclosure on Miami condo” Brian Bandell, Jan. 10, 2014