Found June 02, 2012 on
Just Sports And Just Us:
Former Tennessee Titans star Eddie George received a surprise at his home this week in the form of a foreclosure notice
. According to George's accountant, Larry Goodman, the home is scheduled to be auctioned on June 7.
Goodman had been negotiating a loan modification with IndyMac Mortgage Services over the past seven months.
The Georges bought the 8,550-square-foot home in the gated Brentwood, Tenn., community of Hampton Reserve at the height of the market. They currently owe more than what the house is worth. They bought it for $1.675 million in September 2007 and recently listed the home for sale for $1.1 million.
"Because the loan and equity is not in balance where it should be, we want to go through a loan modification process," Goodman said.
IndyMac hasn't discussed modifying the terms when the payments were current so George has intentionally missed four or five payments to get the ball rolling on negotiations. The Georges love living in the home and are surprised by the foreclosure.
"We're not trying to walk away from anything," Goodman said. "They love living there. It's a great house. Like anybody else who buys an expensive house, it flipped on him."
Don't confuse the foreclosure with George being broke. Goodman says George and his family are financially stable and are in no danger of going broke. They're just like any other American homeowner who is trying to get out from under some bad terms regarding their house.
George has a landscaping business with offices in Ohio and Nashville. He also appeared on sports related television shows.
Tamara George was part of the singing group Sisters With Voices, or SWV, during the 1990s and recently released a new cd
. She later appeared on a season of the television reality series Survivor.
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The million-dollar home of former Tennessee Titans star Eddie George and his wife Tamara will be auctioned off June 7 - to the surprise of the Georges.
An accountant for the couple tells The Tennessean the Georges have been trying to modify their loan for several months but that they find themselves in the same situation as many American homeowners - stuck with a house no longer...
The million-dollar home of Eddie George and his wife Tamara will be auctioned off June 7 - to the surprise of the Georges.
An accountant for the couple tells The Tennessean the Georges have been trying to modify their loan for several months but that they find themselves in the same situation as many American homeowners - stuck with a house no longer worth what was paid for it ...
Former NFL running back Eddie George, who spent nine years in the pros after winning the Heisman Trophy at Ohio State, was recently taken by surprise that his home is being foreclosed on and auctioned. George paid over $1.6 million for the home in 2007, but on board with current trends, the mortgage is too high for the current value of the home.
George’s accountant, Larry Goodman...
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NASHVILLE, Tenn. (AP) -- The million-dollar home of Eddie George and his wife Tamara will be auctioned off June 7 -- to the surprise of the Georges.
An accountant for the couple tells The Tennessean the Georges have been trying to modify their loan for several months but that they find themselves in the same situation as many American homeowners -- stuck with a house no longer worth...
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