Middleman
Defender of the month
He makes $10 million a year, and he somehow can't buy a house for cash?
NBA Star Defaults on $1.5M Mortgage - FoxBusiness.com
NBA Star Defaults on $1.5M Mortgage - FoxBusiness.com
Apparently even NBA stars arent immune to the housing crisis.
According to the Sacramento Bee, basketball star Kevin Martin defaulted on his 5,000-square-foot Rocklin, Calif. home.
Martin, formerly of the Sacramento Kings, reportedly paid about $1.9 million for the home in 2007, just as the housing market began to tank. Today the four-bedroom, four-bathroom house is listed at just $1.1 million.
Martin, who is set to make $10 million this year as a member of the Houston Rockets, first missed a payment on his $1.5 million loan in June, the paper reported.
Michael Hackard, Martins attorney, told the Sacramento Bee that a foreclosure probably wont happen.
"There's a legal dispute that he is right in the process of solving. ... He's not walking away. We've got a certain dispute with the lender, Hackard told the paper.
The lender listed on Martins notice of default is American Home Mortgage, the Bee reported.