Ex-NBA Star Latrell Sprewell Faces Foreclosure

4 years after leaving the NBA former guard Latrell Sprewell is in danger of losing his multi-million dollar New York mansion to foreclosure.

Latrell Sprewell
Former Knick Latrell Sprewell falls behind on mortgage and could lose home to auction.

According the property and court records obtained by the New York Daily News Sprewell, 39, purchased the 3.3-acre property in Westchester County, New York in January 2000 for $2.3 million. In 2004 he took out a 30-year mortgage for $1,612,000 on the home, but began to miss payments in 2008.

If Sprewell is unable to make good on the defaulted mortgage loan his home will be placed on auction on January 7, 2010.

This isn’t the first time Sprewell has found himself in financial trouble. Last year U.S. Marshals seized his $1.5 million yacht after he failed to make payments on it. The yacht, Milwaukee’s Best, was eventually sold at auction for $856,000.

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