Found March 17, 2013 on
Porter was arrested in December, for writing bad checks in Vegas, so this doesn’t come as much of a surprise. When athletes don’t have the money anymore to pay for their mansions, they just let them go into foreclosure.
It is a pretty common practice these days.
Boca Raton-based 1st United Bank filed a foreclosure lawsuit on March 6 against Porter and his wife over their home at 16900 Stratford Court in Landmark Ranch Estates. Built in 2006, the home is 10,600 square feet on 2.3 acres.
The lawsuit concerns a mortgage granted for $2.8 million in 2007 by the International Bank of Miami, which later failed. The Federal Deposit Insurance Corp. has a loss-sharing agreement with 1st United on Porter’s loan.
The neighborhood’s homeowners association filed a lien against Porter claiming that he hasn’t paid his dues dating back to July 2011. That’s the last year he played in the NFL.
Porter made over $30 million while playing for the Steelers, Dolphins and Cardinals.
BEST OF MAXIM
Joey Porter's Florida home reportedly is in foreclosure. There is no word yet regarding how this pertains to his financial situation.
This article originally appeared on the blog Steelers Depot
Time and time again we hear about NFL players who have mismanaged their money only to wind up in financial trouble. Unfortunately, that has now happened to former Pittsburgh Steelers linebacker Joey Porter, who is reportedly having his Florida home foreclose on.
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Of course Joey Porter made huge money during his 13-year NFL career. How much exactly? Lots. He signed a deal in 2007 with the Miami Dolphins that guaranteed him $20 million. Now, the tragic news is that Joe faces foreclosure on his 12,000 sq. ft. Broward County mansion that features six bedrooms and eight bathrooms.
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