The Miami condominium jointly owned by former basketball star Glen Rice and his ex-wife Cristy Rice is being threatened with foreclosure, a November 6th article reported.
According to reports, the bank who gave the former couple the loan for the property has claimed that Glen and Cristy have not made a payment on the $1,401 monthly mortgage of their condo unit in the Neo Vertika building in downtown Miami since February.
The condominium apparently was bought by the Rices in 2006 as an investment after Glen retired from the L.A. Clippers. The ex-couple still owes a portion of the original $500,000 mortgage. Cristy reportedly sought legal help to challenge the foreclosure, claiming that the bank failed to follow the right procedures in their foreclosure claim.
Unfortunately, many families are devastated upon realizing that their home is being threatened with foreclosure. If you are facing this frightening and stressful prospect, consider seeking the assistance of a bankruptcy attorney who may be able to help you protect your home. To discuss your case with the attorneys at Greenway Bankruptch Law, LLC, call our Birmingham office today at (205) 324-4000.