NBA’s Kevin Martin defaults on California mortgage
NBA player Kevin Martin has defaulted on mortgage payments on a
house in California.
The Sacramento Bee reports that Martin owes about $44,000 in
late payments and received a notice of default – the first step in
a possible foreclosure. He bought the 5,000-square-foot home in
Rocklin for $1.9 million in July 2007.
His attorney says Martin has no intention of walking away from
what he owes but is in a legal dispute with the lender as he
pursues a short sale on the property.
The home is currently listed for $1.1 million. A short sale
means if someone buys the home at that price, the lender could take
The Sacramento Kings traded Martin in February. He currently
plays for the Houston Rockets and will earn $10 million this
Information from: The Sacramento Bee, http://www.sacbee.com