Celebrity foreclosure: Evander Holyfield

Celebrity foreclosure, heavyweight division, from the AP: "Former heavyweight champion Evander Holyfield appears to be having financial problems."

More: "A legal notice that appeared in a local newspaper shows his Fayette County [Ga.] estate is under foreclosure. The home worth an estimated $10 million is set to be auctioned by a bank on July 1."

The story quotes the mother of one of Holyfield's nine children as saying he has missed two child-support payments. The AP reports Holyfield has declined to comment on both the child-support allegations and the foreclosure.

For those of you keeping track at home, these are the celebrity foreclosures L.A. Land has reported on:

June 23, 2007: Marion Jones, Chapel Hill, NC.
Feb. 26, 2008: Michael Jackson, Santa Barbara County (foreclosure averted).
May 1, 2008: Jose Canseco, Encino.
June 3, 2008: Ed McMahon, Beverly Hills.

Your thoughts? Comments?
Photo Credit: Associated Press

Comments

[E]

Lies...Lies I tell ya!

Wealthy people NEVER overextend themselves financially.

NEVER!

Especially in such a modest city as Los Angeles.
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Or do they?

[Milla]

but what's the sports headline?

[dontmatta]

Makes me wonder what his child support payments are like...

[l.a.guy]

None of these stories are symptomatic of the current home loan mess. These are people living beyond their means, plain and simple, and would have just as likely gone bankrupt in 2000 as today. Perhaps the lax banking standards bought them a little more time, or a little more trouble, depending how you look at it.

[India]

Please readers keep in mind no matter what the situation Evander is a very nice person who open his house to thousands each year many people can't say that and they have nothing close to a mansion.Regardless of what is said he is GOD's child and he has a big heart.He is not marerialistic and he's always been down to earth to give you a little insight on this man your commenting on!
Our prays are with Mr.Holyfield and his entire family! My family appreciate all the good times we've shared @ your mansion through the years! India M.

[Laker]

dontmatta ,
Per article, he did not pay two months and that is $6000. Based on 2nd grade math, his child support for that child (1 of 9 i think) is $3000 per month.

[gman]

I'm sure Evander is a nice guy. But, he has a moral obligation to pay his debts. Generosity that forces one into bankruptcy is not good planning. Live small and give some to charity I think is what most religions would counsel.

[Anon]

"He's not materialistic." Really? So I guess being non-materialistic entails building a 109 room mansion right? Not 9 rooms, not 19 but 109! But you're right, "he's very down to earth." Dolt...

[Jonathan]

Didn't that guy make millions of dollars per fight? He must have made tens of millions in his career, but he is having financial troubles? Sounds all to familiar. He may be a nice guy, but it sounds like he doesn't know how to handle his cash. If I had ten million dollars I would invest the money in strategically safe investments and simply live off of the interest. You can find savings accounts that can give you over 3%, that would be over 300k/year, which isn't to shabby. More risky investments could bag you clover to 1M/year.

[nelcisco]

I had the privalige if meeting Jay Leno on a couple of occasions most recently at his garage by the Burbank airport and the first time in line at Mcdonalds on Olive and Verdugo back in '99 when I was living in Burbank.

If any of you are familiar with the book "the millionaire nxt door", thats Jay, its no secret that he very wealthy according to Forbes magazine as one of 100's top paid celebs somewhere in the $30mil range, one would think that people making that kind of $ would be eating cavier and sipping champagne all the time at the finest resturants, but that day he ordered a value meal and paid it with a $10 bill, I know his car collection are worth millions but he seems to conduct himself as a average working class guy from Boston

I've worked w/loan officers making $30k/mo and act like they owned the world with their arrogance. I learned a valuable lesson, if a guy like that relative to his can be humble so should most broke people, and stop putting on airs.

[gman]

India,

I just read he has 9 kids by different women and he's not paying child support. And you think he's a nice guy? Limited capacity for rational thought.

[Sammas Dawkins]

I can't help wonder why, if you have made millions
over a number of years, why u just don't pay cash for
your home, why u have to have homes all over the
country ?, really they never ever really own their
homes, they move every 2 or 3 years, i'm in Houston
I took care of Ed Mc Mahonns x mother in law for
several months before she passed away, I was her
personal nurse, her daughter paid me, I receive a check
via- courier every pay day from California with no
problems.