There once was a family that spawned Brandon (Greasy) and Jason (Gummy) Davis. Their granddaddy, Marvin Davis, was supposedly filthy rich, to the tune of $5.8 billion. Then Marvin died and people started writing stories that it was all smoke and mirrors and Marvin was really broke. Now we've learned Marvin's daughter Nancy -- the mother of Greasy and Gummy -- is set to lose her home unless she forks up some serious cash -- STAT.
We've obtained legal docs that show Nancy's Bel Air home is $226,152.57 in arrears and the company that gave her the $8.5 million is getting ready to put the house on the auction block.
But the race is on. Nancy has listed her home for sale for a cool $19,975,000. Presumably, if she sells it she'll pay off the loan and pocket the balance. But the mortgage company tells us if they don't get paid by February 26, the house will go on the auction block.
Nancy Davis gave us this statement through a rep: "This is a paperwork glitch. The default will be cured and the house will not be sold through foreclosure."
Gummy & Greasy: You May Never Go Home Again
1/13/2009 6:45 AM PST BY TMZ STAFF
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