After being launched from jail on sexual assault fees, disgraced comic Invoice Cosby is making headlines in gentle of considered one of his New York Metropolis townhouses being on the point of foreclosures.
In line with the Seattle Instances, Cosby allegedly defaulted on the mortgage for his crib on the Higher East Aspect after not making funds since June 2024. Within the courtroom submitting, First Basis Financial institution claims Cosby, 87, and his spouse, Camille, 80, owe $17.5 million on their mortgage. The foreclosures grievance isn’t towards Cosby personally however “a restricted legal responsibility firm” arrange by the married couple, in response to the Each day Mail.
The couple first bought the townhouse, situated on East 71st Road, in 1987. Though the Cosbys purchased the house to stay in, in response to the Seattle Instances, they not occupy the house. In line with the New York Put up, the couple’s son, Ennis Cosby, primarily used the residence till he was murdered in 1997. The present month-to-month fee for the townhouse is over $125,000.
Within the grievance, the financial institution alleges the Cosbys had been even despatched a letter in November giving them a month to pay $800,000 owed together with late charges.
However even earlier than the November letter, the Cosbys missed funds in 2023 however had been in a position to pay over $500,000 in October to cowl again funds, in response to the letter. “A lot to the Lender’s chagrin, you managed to maintain the mortgage present for only some months, however as soon as once more there was a failure to pay,” wrote Jay Hack, the lawyer representing First Basis Financial institution.
This time round, nevertheless, the Cosbys didn’t pay by the letter’s December deadline, in response to the grievance. Now, the financial institution is demanding the couple pay up the $15.3 million left on the mortgage plus $800,000 in curiosity and late fees.
Life for Cosby took a drastic flip after he was convicted of sexual assault in 2018. And with cash clearly tight for the Cosbys, courtroom information additionally present this isn’t the primary time America’s former TV dad has been sued for allegedly defaulted on a mortgage.
The Seattle Instances reported in December, CitiMortgage filed a lawsuit towards the Cosbys for defaulting on a $4.5 million mortgage for a separate Higher East Aspect property. In line with CitiMortgage, the couple nonetheless owes $3.68 million plus curiosity in mortgage debt for this second dwelling.
In 2017, Web page Six reported Cosby tried to take out loans to assist together with his ongoing authorized troubles. In line with the New York Put up, Cosby has no authorized illustration on this foreclosures case.