While it may seem you only hear about foreclosure news for those who have been negatively affected by the recession or those who have struggled to make ends meet only to find they can’t, there are other reasons people may fall into foreclosure. Recently, it became public knowledge that the Florida home of imprisoned O.J. Simpson is facing home foreclosure. The home is set be auctioned off in the fall.
The home has been enveloped in the foreclosure process for roughly two years. There are documents that indicate Simpson is behind in the mortgage to the tune of $796,000. There are also tax and insurance problems also. Simpson is behind $42,000 in property tax and $43,000 in insurance costs.
Simpson has not been gainfully employed since being acquitted of murder in 1995 and his financial and legal troubles have not been a secret. He is currently in jail and has been imprisoned since 2008. The home that will auctioned off is 4,233 square feet and is near Miami.
Foreclosure can truly affect anyone. Having a home go up for auction can be devastating for the homeowner, especially if they tried diligently to make payments. For the average Florida homeowner, there is help out there for those who fear they may fall behind and risk home foreclosure but want to hold on to their homes. Loan modifications are one option homeowners across Florida and across the country are finding to be of benefit when it comes to finding a way to stay in their homes.
Source: Huffington Post, O.J. Simpson’s South Florida home to be sold in foreclosure, No author, Aug. 26, 2013