May 21, 2012

Antoine Walker: Bankrupt NBA star’s home outside Chicago falls into foreclosure

Former three-time NBA All-Star, Antoine Walker, will lose a 12,000 sq. ft. home in Tinley Park, Ill., which he purchased for his mother for $2.3 million in 2005, to foreclosure if he can’t come up with $70,000 in delinquent property taxes, according to the Southtown Star.

Walker, who won an NCAA title as a member of the Kentucky Wildcats (1996) and a world championship with the Miami Heat (2006), recently filed for bankruptcy.

He has not played in the NBA since 2008. However, the report indicates that Walker earned an estimated $110 million during his 13-year career.

“Toine” currently resides in a $2.3 million Miami, Fla., mansion, which he intends to keep, according the bankruptcy filing, as well as a $54,000 Range Rover and $2,000 in cash.

It’s unclear at this time if he’ll attempt to save the “glitzy” Tinley Park home before it’s too late or let it go back to the bank.

Stay tuned.

In the meantime, Walker is scheduled to appear in a Las Vegas, Nevada, court to face felony charges for allegedly writing more than $1 million in bad checks to three different casinos.


Medical Bankruptcy

ResCap Files For Bankruptcy, Eyes Paying Back Taxpayer Bailout Money

Ally Financial Inc’s mortgage unit, named Residential Capital (ResCap for short), filed for bankruptcy on Monday, according to Reuters. Ally … [Read More...]

Collegiate Concern, Investing In Your Future or Life-Long Financial Headache?

At a recent campaign trail stop to the University of Colorado, President Barack Obama stated that college is the best investment you can … [Read More...]