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Chicago mansion belonging to Knicks' Curry in foreclosure

BURR RIDGE, Ill. -- Court records show that former Bulls player Eddy Curry's suburban Chicago mansion is in foreclosure.

It's the same home where Curry was bound and robbed in 2007. He now plays for the New York Knicks.

Documents show that Curry was more than $217,000 behind on his $3.7 million mortgage as of Friday. Records reviewed by the Chicago Sun-Times show that Curry and his wife, Patrice, took the 30-year mortgage out in July 2003 to buy the home.

A court filing says the Currys' initial interest rate on the home loan was 9.25 percent with a monthly payment of $28,675.

Curry's attorneys did not return calls seeking comment Tuesday.

Copyright 2009 by STATS LLC and The Associated Press. Any commercial use or distribution without the express written consent of STATS LLC and The Associated Press is strictly prohibited.
 
 

Talk Back
Reputation:98
Level:Superstar
Since:Oct 23, 2006

June 30, 2009 6:03 pm
I am not advocating letting debts go.

But Illinois is a non-recourse State.  The mortgage holder can only take the property.

I am guessing he took out some sort of super Jumbo loan.  Those interest rates are usually in the 8-12% range.  They are not typical mortgage rates.

If Curry is significantly upside down on this property, which is likely, there
...(more)
Reputation:86
Level:All-Star
Since:Dec 5, 2007

June 30, 2009 4:30 pm
Why in the HELL would you have a 30 year mortgage when you are an NBA player that is paid $10.5 million a year??? He should be able 2 pay it off in a few years. I understand its not smart 2 pay all of it at one time cuz you never know what other expenses might arise tomorrow. But when you're paid that much money, you shouldnt have trouble payin your mortgage. I realy dont see him in the NBA a ...(more)
Reputation:94
Level:All-Star
Since:Jun 17, 2008

June 30, 2009 4:42 pm
This is what happens when someone is a Top 5 pick in the NBA and barely graduated high school.  His monthly mortgage is more than most people's annual mortgage payment. 

He must have terrible credit as well as the interest rate for a 30-year fixed should be more like 5-6% not 9%.  Perhaps he enrolled in the Latrell Spreewell school of economics and will be bankrupt short
...(more)
Reputation:96
Level:Superstar
Since:May 25, 2007

June 30, 2009 11:16 pm
If we can bail out AEG, why not Eddy Curry? Just kidding. A lot of teams in the NFL and NFL actually carried mortages for their players and deducted it from their checks every 2 weeks in baseball and weekly in the NFL. They also made sure it was properly insured and taxes paid on time. Not sure if the NBA ever did that ...(more)
Reputation:88
Level:All-Star
Since:Dec 13, 2006

June 30, 2009 4:34 pm

What is this, a god dam gossip column? Its suppose to be a sports website, instead of investigating his monthly payment and interest rate from 6 years ago, why not head down to the gym to were he's been working out and see how he's actually doing on the court????

BREAKING NEWS:
Eddie Curry mixes plaids and stripes on his curtains!!!!

Reputation:94
Level:All-Star
Since:May 13, 2007

June 30, 2009 5:30 pm
Better hurry while supplies last guys!!! You will not want to miss this sale!! Report the facts!!! That is what a reporter does...better yet interview him instead of reading an commenting after YOU read it on the internet.
 
 
 
 
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