 |
| Kevin Martin |
SACRAMENTO, Calif. (AP)—NBA player Kevin Martin(notes) has defaulted on mortgage payments on a house in California.
The Sacramento Bee reports that Martin owes about $44,000 in late payments and received a notice of default—the first step in a possible foreclosure. He bought the 5,000-square-foot home in Rocklin for $1.9 million in July 2007.
His attorney says Martin has no intention of walking away from what he owes but is in a legal dispute with the lender as he pursues a short sale on the property.
The home is currently listed for $1.1 million. A short sale means if someone buys the home at that price, the lender could take a loss.
The Sacramento Kings traded Martin in February. He currently plays for the Houston Rockets and will earn $10 million this year.
Don't get it twisted. Just because these NBA players have money, they still don't pay bills like the rest of us. Seriously though, this dude has no reason to be in default on 44K. Kevin Martin agreed to the five-year, $55 million extension in 2007. Martin's locked up through 2013. His salary structure should look something like this:
2007-08 $1.8m
2008-09 $9.0m
2009-10 $10.1m
2010-11 $10.9m
2011-12 $12.2m
2012-13 $13.1m
2008-09 $9.0m
2009-10 $10.1m
2010-11 $10.9m
2011-12 $12.2m
2012-13 $13.1m
Now we have a salary recap, why is Kevin short on his mortgage? MadOne.
No comments:
Post a Comment